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Weekday news and analysis for retirement plan advisers
Wednesday, June 30, 2021
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Practice Management
Women in C-Suite Roles Remain Scarce, Even as More Enter Financial Services
More women are working in the financial services industry, yet research shows they continue to be underrepresented in executive leadership. Even if the relatively small representation means it is a slow progression, women have already made important strides in the financial services sector.
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A Markedly Positive Mid-Year Market Check-In
Millions of jobs have returned as the country has reopened, thanks to the positive impact of the COVID-19 vaccination program, but as the U.S. enters the second half of the year, sources say some ‘problems of success’ have emerged.
Today’s Most Read
1. With Prudential Acquisition, Empower Aims for Growth Up to 3x Faster Than Other Recordkeepers
2. Empower to Acquire Full-Service Retirement Business of Prudential
3. ProNvest Launches Fintech Platform
Sponsored by American Century Investments®
Straight Talk with Rich Weiss
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Producers Beware: More States Adopt NAIC Annuity Suitability Framework
Earlier this month, Alabama became the 13th state to adopt enhanced consumer protections for purchasers of annuities, based on a framework put forward by the National Association of Insurance Commissioners.
House Committees Build Consensus on ‘SECURE 2.0’
As evidenced by Wednesday morning’s House Education and Labor Committee hearing, retirement security is a topic where strong bipartisan consensus is possible, even in an intensely divided Congress.
Market Mirror Market Mirror Graph

Tuesday, the Dow increased 9.02 points (0.03%) to 34,292.29, the Nasdaq closed 27.83 points (0.19%) higher, and the S&P 500 was up 1.19 points (0.03%) at 4,291.80. The Russell 2000 was down 13.50 points (0.58%) at 2,308.84, and the Wilshire 5000 decreased 15.03 points (0.03%) to 45,094.91.

The price of the 10-year Treasury note was unchanged, with its yield down to 1.474%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 2.093%.

Industry Intel Roundup
Remembering Senator Enzi’s Work for Retirement Plans

He was instrumental in finalizing the provisions of the Pension Protection Act of 2006, and several items he pushed for made it into the SECURE Act.

SEC Charges 27 Firms for Failing to File and Deliver Form CRS

All firms involved have agreed to settle the allegations that they missed regulatory deadlines for the customer relationship summaries.

DOL Promises Final Rule on Lifetime Income Illustrations As Soon As Practicable

The agency clears up timing questions in a FAQs document and says it realizes the concerns about timing if its final rule differs from its previously published interim final rule.

401(a) Plan Sponsor’s Use of Asset Allocation Solution Challenged in Lawsuit

The suit says the solution directed participant contributions into high-cost investments.

Antitrust Concerns Scuttle Aon-Willis Merger Proposal

Despite winning regulatory approval of the combination from the European Commission, Aon and Willis Towers Watson have reached an impasse with the U.S. Department of Justice, says Aon CEO Greg Case. 

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