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Weekday news and analysis for retirement plan advisers
Tuesday, July 05, 2022
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Kellogg Faces ERISA Managed Account Fee Complaint
The new complaint also suggests the company and its retirement plan fiduciaries permitted the payment of excessive recordkeeping fees.
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Retirement Industry People Moves
Carillon Tower Advisers to rebrand as Raymond James Investment Management; J.P. Morgan Asset Management hires senior investment specialist; GW&K announces changes to executive leadership; and more.
Today’s Most Read
1. The New Vesting Schedule Debate
2. The Most ‘Outrageous’ ERISA Complaints Yet Filed?
3. Why Are Financial Services Firms Looking to Wealth Management Leaders?
PTE 2020-02 Enforcement Has Arrived
The July 1 enforcement date for the Department of Labor’s new best-interest rollover documentation requirements has been widely publicized, but that doesn’t mean all advisers are ready.
The Keys to Delivering Valuable Financial Wellness Benefits
As inflation chips away at people’s spending power and concerns about a recession cause substantial stress, employers can provide targeted benefits that build employee loyalty and protect productivity.
Building Practice Culture: Mentors and Mentees
The relationship between mentor and mentee should be mutually beneficial, as both work to accomplish their many shared and individual goals.
Market Mirror Market Mirror Graph

Friday, the Dow gained 321.83 points (1.05%) to 31,097.26, the Nasdaq increased 99.11 points (0.90%) to 11,127.85 and the S&P 500 was up 39.98 points (1.06%) to close at 3,825.36. The Russell 2000 climbed 19.77 points (1.16%) to 1,727.76 and the Wilshire 5000 increased 434.02 points (1.16%) to 37,998.25.

The price of the 10-year Treasury note was unchanged and the yield decreased to 2.894%. The price of the 30-year Treasury bond increased 1 32/32 lowering the yield to 3.117%.

For the week ending July 1, the Dow slipped 1.28%, the Nasdaq fell 4.13%, and the S&P 500 lost 2.21%. The Russell 2000 was down 2.15%, and the Wilshire 5000 finished 2.40% lower.

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