Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 18th, 2020
M&A as Adviser Talent Acquisition Strategy
Speaking recently with PLANADVISER about the elevated pace of merger and acquisition (M&A) activity in the brokerage and advisory business, Scott Slater, M&A specialist and a vice president of practice management and consulting for Fidelity Custody & Clearing Solutions, emphasized the role that “key talent procurement” is playing. Read more >
‘Made to Stick’
Morningstar has published a detailed new white paper titled “Made to Stick: The Drivers of Default Investment Acceptance in Defined Contribution [DC] Plans.” Read more >
Wells Fargo Faces New 401(k) Self-Dealing Suit
Among other things, the lawsuit accuses defendants of selecting funds that that had no performance history that could form the basis of a fiduciary’s objective decision-making process. Read more >
DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans
Advisers Get Long-Awaited Clarity on ESG in Retirement Plans
Plan Advisers Value Trustworthiness, “Personal” Touch from DC Recordkeepers
AARP Finds Major Gap Between Retirement Goals and Preparedness
Financial Firms Looking to HBCUs, “Pipeline” Programs to Bolster Diversity
Responding to Coronavirus, SEC Eases Certain Fund and Adviser Requirements
While in-person participation is an important part of the financial system regulated by the SEC, the virus is forcing market makers to significantly adjust their operations. Read more >
Data Mine—March 2020
Micro plans lagged far behind larger plans in fiduciary best practices, such as having an investment committee. Forty-one percent of plans with less than $1 million lacked an investment committee. Read more >
Market Mirror
Tuesday, the Dow gained 1,048.86 points (5.20%) to finish at 21,237.38, the NASDAQ closed 430.19 points (6.23%) higher at 7,334.78, and the S&P 500 increased 143.06 points (6.00%) to 2,529.19. The Russell 2000 was up 69.25 points (6.68%) at 1,106.66, and the Wilshire 5000 climbed 1,363.33 points (5.72%) to 25,181.77. The price of the 10-year Treasury note decreased 3 2/32, bringing its yield up to 1.069%. The price of the 30-year Treasury bond fell 8 30/32, increasing its yield to 1.669%.
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