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 >
MOST READ ARTICLES
1
Three New ERISA Lawsuits Bash Actively Managed TDFs
2
$300 Million Plan Faces ERISA Fiduciary Breach Lawsuit
3
Attorneys Offer Closer Reading of DOL’s Open MEP RFI
4
Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan
5
DOL Aims to Quickly Simplify Conflict of Interest Framework
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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