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Weekday news and analysis for retirement plan advisers
Wednesday, November 01, 2023
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Compliance
DOL Publishes New Adviser Fiduciary Rule for Public Comment
PSPA-103123-The-DOL-formally-announces-its-new-fiduciary-rule-545247618-web
The proposal would make one-time advice for rollovers subject to ERISA.
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Creative Planning Acquires Mesirow’s Retirement Advisory Business
The RIA adds $13 billion corporate plan services team soon after announcing a deal for Goldman’s personal finance unit.
Today’s Most Read
1. Vestwell Adds TIAA Lifetime Income Offering
2. Salesforce Settles 401(k) Suits for $1.35M
3. Alera Group Acquires $24B Advanced Capital Group
Total Annuity Sales Jump 11%, Poised to Break Annual Record
Retail annuity sales hit $89.4 billion in Q3, while deferred income annuity sales reached $950 million, according to LIMRA.
DOL Proposal Reactions Range From ‘Important Step’ to ‘Out of Touch’
Industry groups in the financial sector pushed back against the proposed amendments to fiduciary standards, while some championed it as a necessary update to nearly 50 years of ERISA law.
Special Coverage: Participants

Participant services are an increasingly important focal point for retirement plan advisories. This month’s PLANADVISER special series turns to advisers, providers and exclusive participant data to consider the trends and best practices for today’s participants.

Market Mirror Market Mirror Graph

Tuesday, the Dow rose 123.91 points (0.38%) to close at 33,052.87, the Nasdaq rose 61.76 points (0.48%) to close at 12,851.24 and the S&P 500 rose 28.98 points (0.65%) to close at 4,193.80. The Russell 2000 gained 14.99 points (0.91%) to close at 1,662.28, and the FT Wilshire 5000 Index gained 286.44 points (0.69%) to close at 42,059.95.

The 10-year Treasury note decreased 23/32, bringing the yield to 4.919%. The 30-year Treasury bond decreased 5/32, bringing the yield to 5.083%.

Industry Intel Roundup
Featured Thought Leadership
PLANADVISER is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring thought leadership sponsored by or featuring experts in the industry. The content was created to supply actionable insights to retirement plan advisers regarding client service and practice management.
The Retirement Income Dilemma
What are we solving for and what have we learned so far?
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