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Weekday news and analysis for retirement plan advisers
Thursday, June 01, 2023
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Deals & People
Edelman Financial Names Former Personal Capital Head Jay Shah as CEO
PA-053123-Shah Named CEO 1035571598
Current CEO Larry Raffone will become chairman of the board while remaining a meaningful shareholder.
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CAPTRUST Acquires Omega Wealth Partners
Omega,based in Fort Worth, isCAPTRUST’s second deal in Texas this year. 
Today’s Most Read
1. Fidelity Data Breach Exposed Info of 77,000 Clients
2. Who Is Most at Risk for Retirement Savings Shortfall?
3. 401(k) Traders Shifting to Fixed Income
House Passes Small Entity Update Act to Evaluate Size Cutoff for Advisories
The bill would require the SEC to study and update its definition of ‘small entity,’ which could significantly impact independent financial advisers. 
Advisor Group Issues Alert for 2021 Vendor Data Breach Affecting Clients
Personal information exfiltrated from RRD’s corporate data system included users’ names, addresses and Social Security numbers.
MassMutual Names New Financial Advisory, Annuity Leaders
Mike Fanning, who oversaw the firm’s sale of its retirement recordkeeping division to Empower, is set to retire.
Market Mirror Market Mirror Graph

Wednesday, the Dow fell 134.51 points (0.41%) to close at 32,908.27, the Nasdaq fell 82.14 points (0.63%) to close at 12,935.29 and the S&P 500 fell 25.69 points (0.61%) to close at 4,179.83. The Russell 2000 lost 17.64 points (1.00%) to close at 1,749.65, and the Wilshire 5000 gained 606.59 points (1.46%) to close at 42,053.18.

The price of the 10-year Treasury note rose 4/32, bringing the yield to 3.643%. The price of the 30-year Treasury bond rose 6/32, bringing the yield to 3.860%.

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