PLANADVISERdash – November 12, 2021

Weekday news and analysis for retirement plan advisers

Friday, November 12, 2021

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How to Optimize Connections

The purview of plan advisers used to remain squarely within the realm of helping the plan sponsor design a 401(k) plan that met its needs and select appropriate funds. In recent years, however, an increased industry emphasis on financial wellness has expanded that role to also include the delivery of education, advice and other services directly to participants.

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Compliance

Mercy Health Plan Fiduciaries to Pay $3.9 Million to Settle Lawsuit

The defendants will also retain an independent consultant to review investments and fees, according to the settlement agreement.

Today’s Most Read

1.	Franklin Templeton to Acquire Putnam for $925 Million
2.	Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
3.	Smart Acquires Managed Account Provider ProManage

Sponsored by Manulife / John Hancock

Glide Paths Within the Glide Path

The allocation process for a target-date fund may be morethan shifting from equities to fixed income over time. Learn More.

Building Strategic Partnerships

What advisers should look for in a potential referral source.

Investment Product and Service Launches

AllianceBernstein expands lifetime income strategy platform; Voya expands suite of target-date solutions; Vanguard Personal Advisor Services introduces five-fund active equity offer; and more.

M&A UPDATE: Lockton and Creative Planning Latest to Join Forces

One industry merger and acquisition expert familiar with the background of this deal says it represents a significant milestone in the broader M&A action that has been remaking the plan adviser and recordkeeper industry for some time now.

Demand for Talent Outstrips Labor Supply

Among 160 human resources leaders polled by Willis Towers Watson, only 2% indicate they are having no problems with employee attraction and retention.

Market Mirror

Thursday, the Dow fell 158.71 points (0.44%) to 35,921.23, the Nasdaq closed 81.58 points (0.52%) higher at 15,704.28, and the S&P 500 was up 2.56 points (0.06%) at 4,649.27. The Russell 2000 increased 19.56 points (0.82%) to 2,409.14, and the Wilshire 5000 gained 90.96 points (0.19%) to finish at 48,359.03.

The bond markets were closed for the Veterans Day holiday.

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