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Weekday news and analysis for retirement plan advisers
Tuesday, May 30, 2023
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Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
PA - 052623 - Advisers Stay Focused on Best Investment Options
Proprietary recordkeeper fund options can be worth the fee reduction in investment plans, but they must be looked at carefully, note advisers in a PLANADVISER practice progress webinar.
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Retirement Industry People Moves
Cambridge Associates names Davidson president, head of investing; retirement consultant Mischell joins Agilis as managing director; ACA Group appoints Olson CEO; and more.
Today’s Most Read
1. It’s Time to Rethink Retirement, Says T. Rowe Price
2. Fidelity to Limit Third-Party Credential-Sharing for 401(k) Access
3. More Than Half of Plan Advisers Expect to Use AI
NFP, Nationwide Name New Retirement Leaders
NFP appoints Joel Shapiro as president of retirement division; Nationwide taps Cheryl Thompson for head of retirement solutions operations. 
Gensler Defends Swing Pricing Proposal at ICI Conference
Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,” according to Gensler.
Most of Gen Z Respects Financial Professionals, Not Ready to Hire Them
The majority of Generation Z, including investors and non-investors, rely on social media and family members for financial information.
Market Mirror Market Mirror Graph

Friday, the Dow rose 328.69 points (1.00%) to close at 33,093.34, the Nasdaq rose 277.59 points (2.19%) to close at 12,975.69 and the S&P 500 rose 54.17 points (1.30%) to close at 4,205.45. The Russell 2000 gained 18.42 points (1.05%) to close at 1,773.02, and the Wilshire 5000 gained 537.43 points (1.31%) to close at 41,437.26.

The price of the 10-year Treasury note increased 1/32, bringing the yield to 3.806%. The price of the 30-year Treasury bond increased 28/32, bringing the yield to 3.961%.

For the week ending May 26, the Dow fell 1.00%, the Nasdaq rose 2.51% and the S&P 500 rose 0.32%. The Russell 2000 fell 0.04%, and the Wilshire 5000 finished 0.27% higher.  

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