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Weekday news and analysis for retirement plan advisers
Monday, May 15, 2023
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Financial Advisers Rank American Funds, Vanguard as Top Asset Managers
PA-051223-Brand-Perception-1143672625-web
Advisers are most swayed by trust, performance and ease of business when evaluating a manager, according to ISS Market Intelligence.
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Compliance
House Republicans Propose Exempting Social Security Benefits From Income Tax
Social Security reform bills keep coming this Congress, and this one would remove Social Security payments from the calculation of gross income.
Today’s Most Read
1. Infosys Breach From 2023 Exposed Personal Data of 6 Million People
2. Voya to Acquire OneAmerica’s Retirement Plan Business
3. Capital Group Launches 1st Active/Passive TDF Blend Series
Retirement Industry People Moves
TIAA snags Kivett from Prudential for new 401(k) role; Voya expands workplace solutions team with Ritter, Bandani; new RIA Modern Wealth brings on two Goldman VPs; and more.
FINRA Expels Brokerage SW Financial for Misrepresenting Fees
The brokerage and investment bank was expelled for misrepresenting its fee structure, churning accounts and failing to properly supervise and train its employees.
In Case You Missed It: Meet Our 2023 Retirement Plan Adviser of the Year Award Winners
Adviser firms in six categories were honored at a dinner in New York Wednesday night.
Market Mirror Market Mirror Graph

Friday, the Dow fell 8.89 points (0.03%) to close at 33,300.62, the Nasdaq fell 43.76 points (0.36%) to close at 12,284.74 and the S&P 500 fell 6.54 points (0.16%) to close at 4,124.08. The Russell 2000 lost 3.86 points (0.22%) to close at 1,740.85, and the Wilshire 5000 lost 81.89 points (0.20%) to close at 40,637.53.

The price of 10-year Treasury note decreased 7/32, bringing the yield to 3.468%. The price of the 30-year Treasury bond decreased 27/32, bringing the yield to 3.790%.

For the week ending May 12, the Dow lost 1.11%, the Nasdaq rose 0.40% and the S&P 500 fell 0.29%. The Russell 2000 fell 1.08%, and the Wilshire 5000 finished 0.32% lower.

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