PLANADVISERdash – May 21, 2022

Weekday news and analysis for retirement plan advisers

Saturday, May 21, 2022

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PLANADVISER's Practice Progress Series

The topic of firm culture is central to discussions about some of the adviser industry’s most pressing challenges and biggest opportunities. But what, exactly, is firm culture, and what does it take to build a positive and productive environment for staff and leadership alike?

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A Profound Opportunity for Advisers

A new survey report notes that women control a third of total U.S. household financial assets today—more than $10 trillion—and as much as $30 trillion more is expected to shift into the hands of U.S. women over the next five years.

Today’s Most Read

1.	Many Providers Are Prioritizing Participant Financial Advice in 2023
2.	OneDigital Acquires $500M Florida Retirement and Wealth Management Shop
3.	A Reminder to Avoid Fraudulent Hardship Withdrawals

Investment Product and Service Launches

Pacific Life announces collaboration with Wespath and WTW on qualifying longevity annuity contract option; Principal Global Investors launches active real estate ETF; and BNY Mellon Investment Management partners with UBS to offer model portfolios.

Best Interest Reasons for a Rollover

PTE-2020-2 allows for circumstances that outweigh an IRA’s costs.

Physical Presence Requirement Relief Extended Again

The additional extension comes after they IRS solicited public comments on whether relief from the physical presence requirement should be made permanent.

Market Mirror

Thursday, the Dow lost 236.94 points points (0.75%) to 31,253.13 the Nasdaq fell 29.66 points (0.26%) to close at 11,388.50, and the S&P 500 was down 22.89 points (0.58%) to 3,900.79. The Russell 2000 increased 1.38 points (0.08%) to 1,776.22, and the Wilshire 5000 lost 142.72 points (0.37%) to 38,840.66.

The price of the 10-year Treasury note increased 26/32 lowering its yield to 2.848%. The price of the 30-year Treasury bond increased 2/32 decreasing its yield to 3.056%.

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