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Weekday news and analysis for retirement plan advisers
Tuesday, May 23, 2023
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Service Sector Employees Lead DC Plan Contributions
PA-052223-DC Window-1474789192-web
Workers from sectors focused on service accounted for $5.7 trillion in AUM in DC plans, doubling over the last decade, according to ISS Market Intelligence.
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Advisory M&A
Adviser Investments and Ropes Wealth combine to make $15B RIA; Sanctuary snags another advisory from Merrill; Trusted Wealth brings $465M to Commonwealth; and more.
Today’s Most Read
1. Retirement Security Improved by Allocating a Portion of DC Plan Assets Into Annuities
2. Empower: Workers Desire More Retirement Savings Choices, Better Access
3. Investors Still Prefer Human Touch for Financial Planning
Broadridge Brings Retirement, Workplace Services Under One Roof
The financial solutions firm will now provide workplace and retirement plan programs from one division as retirement savings and wealth management draw closer together.
EBRI Study: Inflation, Weak Stock Market Slashed Retirement Confidence
EBRI reports sharply decreased retirement confidence, driven primarily by inflation.
Practice Progress Webinar: DCIO
Join PLANADVISER and industry experts on Thursday, May 25, for a discussion about the future of DCIO firms and strategies, the important role partnerships can play and how some firms are assigning more specialists to a relationship, serving clients at all levels.
Market Mirror Market Mirror Graph

Monday, the Dow fell 140.05 points (0.42%) to close at 33,286.58, the Nasdaq rose 62.88 points (0.50%) to close at 12,720.78 and the S&P 500 rose 0.65 points (0.02%) to close at 4,192.63. The Russell 2000 increased 21.67 points (1.22%) to close at 1,795.38, and the Wilshire 5000 increased 72.44 points (0.18%) to close at 41,397.51.

The price of the 10-year Treasury note decreased 3/32, bringing the yield to 3.715%. The 30-year Treasury bond decreased 6/32, bringing the yield to 3.966%.

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