PLANADVISERdash – June 28, 2023

Weekday news and analysis for retirement plan advisers

Wednesday, June 28, 2023

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Does Swing Pricing Have a Time Zone Problem?

PA-06272023-Democrat-Opposition-to-SEC-Proposals-1319897578-web

Several House Democrats expressed concern to SEC officials that a hard close at 4 p.m. Eastern time would discriminate against investors on Pacific time.

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Deals & People

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Investing

Compliance

Fidelity Sees Jump in Quantity, Value of RIA M&A Deals Since 2020

During the last three years, 492 transactions took place, compared to 146 during a similar period from 2017 through 2019.

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

Experts: Plan Committees Need Consistent Focus on Cybersecurity

Communicating digital safeguards to participants and engaging IT teams are key, experts said at the PLANSPONSOR National Conference.

Voya Chief Client Officer Exits

William Harmon is leaving the recordkeeper, with two senior leaders taking up the role of outreach to advisers and plan sponsors.

SECURE 2.0 Insecurities

3 experts cite clients’ biggest concerns about the new retirement act.

Market Mirror

Tuesday, the Dow rose 212.03 points (0.63%) to close at 33,926.74, the Nasdaq rose 219.90 points (1.65%) to close at 13,555.67 and the S&P 500 rose 49.59 points (1.15%) to close at 4,378.41. The Russell 2000 gained 26.67 points (1.46%) to close at 1,849.93, and the FT Wilshire 5000 Index gained 532.88 points (1.22%) to close at 44,144.44.

The price of the 10-year Treasury note decreased 26/32, bringing the yield to 3.769%. The price of the 30-year Treasury bond decreased 5/32, bringing the yield to 3.846%.

Industry Intel Roundup Featured Webinars

PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by or featuring experts in the industry. The content was created to supply actionable insights to retirement plan advisers regarding client service and practice management.

Sponsored by Allianz Life Insurance | October 24, 2024

Portability in Practice: Navigating Guaranteed Lifetime Income Options

This webinar will explore the intricacies of portability as it relates to in-plan guaranteed lifetime income products, such as annuities. It will delve into participant preferences, product design considerations, and limitations that can impact true portability. It will also look at how portability impacts the participant experience and strategies that can be employed to maintain engagement throughout various scenarios. Join Jessica Drake, Head of Operations, Employer Markets and Troy Sande, Head of Integrations and Experience, Employer Markets at Allianz Life Insurance Company of North America (Allianz) to discover strategies that can be used to address these challenges and help ensure a seamless experience across the retirement ecosystem. Guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company. This content does not apply in the state of New York. Allianz Life Insurance Company of North America is not affiliated with PLANADVISER Magazine. For institutional use only- not for use with the public.