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Weekday news and analysis for retirement plan advisers
Thursday, July 08, 2021
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Deals & People
M&A Update: CAPTRUST’s 50th, New SageView and Hub Deals
CAPTRUST Financial Advisors has announced its acquisition of Nachman Norwood & Parrott Wealth Management, marking the firm’s 50th acquisition since 2006. At the same time, Hub International has revealed its acquisition of the operating subsidiaries of TCG Group Holdings, while SageView has scooped up MJM401k.
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Compliance
ERISA Lawsuit Filed Against AAA Carolinas
The plaintiffs in the case say that when the plan switched to cheaper share class TDFs, participant accounts should have been ‘repaired.’
Today’s Most Read
1. GKN Latest to Face Scrutiny Over GoalMaker Service
2. Older 401(k) Participants Moving to TDFs More So Than Younger Participants
3. New Benartzi Paper Dissects Narrow Framing Phenomenon
Participants Want Social Security Advice
A Nationwide report found that more participants would switch their financial planner if he didn’t provide education on Social Security benefits.
The 2021 Practice Progress Webinar Series
SEPs, SIMPLEs and More: Growing a Practice With Smaller Clients

This hourlong editorial-driven webinar will feature a panel of micro-market experts addressing the related topics of efficiently and profitably serving this end of the retirement planning market. We will cover the basics of SEPs, SIMPLEs and other savings arrangement, before exploring the many opportunities this client segment affords.

Plaintiffs in T. Rowe Price ERISA Lawsuit Denied Interlocutory Appeal
The plaintiffs wanted an appellate court to decide whether a plan amendment requiring the use of T. Rowe Price funds in the firm's retirement plan violated ERISA.
Market Mirror Market Mirror Graph

Wednesday, the Dow gained 104.42 points (0.30%) to finish at 34,681.79, the Nasdaq was up 1.42 points (0.01%) at 14,665.06, and the S&P 500 increased 14.59 points (0.34%) to 4,358.13. The Russell 2000 fell 21.66 points (0.95%) to 2,252.85, and the Wilshire 5000 closed 49.73 points (0.11%) higher at 45,502.82.

The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.319%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 1.938%.

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