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Weekday news and analysis for retirement plan advisers
Wednesday, November 16, 2022
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Data & Research
Retirement Account Balances Down 21% or More in Q3, Fidelity Data Shows
PA-111622-Fidelity 401ks Balances Drop But Savings Hold-1383430201-web
Data from more than 35 million participants in Fidelity accounts shows a steep hit to balances during the market downturn, but the majority of workers (86%) kept their savings contributions unchanged.
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Compliance
Subpar Technology Could Steer Clients Away from Advisers
Many advisers complain about lack of automation and functionality and prefer a platform that gives them more time to focus on clients.
Today’s Most Read
1. Wait, SECURE 2.0 Might Not Pass?
2. Asset Managers Scramble to Offer In-Demand Investment Vehicles
3. 401(k) Robo-Adviser Blooom Shuts Services, Sells Tech to Morgan Stanley
HUB Expands Wealth Management Footprint with Purchase, On Pace for 70 Acquisitions
Hub’s recent acquisition of Tulsa-based Bridgecreek puts it over 60 acquisitions this year as it continues to build its footprint across asset management, retirement, insurance and employee benefits.
Proposed Settlement Would Cost Juniper Networks $3 million
 Juniper agreed to a proposed settlement dismissing allegations they mismanaged their sponsored retirement plan; judicial approval still required.
Jorge Bernal
Meet SageView Advisory Group’s new COO.
Market Mirror Market Mirror Graph

Wednesday, the Dow lost 39.09 points (0.12%) to close at 33,553.83, the Nasdaq decreased 174.75 points (1.54%) to close at 11,183.66 and the S&P 500 lost 32.94 points (0.83%) to close at 3,958.79. The Russell 2000 decreased 36.04 points (1.91%) to end trading at 1,853.17 and the Wilshire 5000 decreased 410.74 points (1.03%) to close at 39,433.57. The price of the 10-year Treasury note increased 29/32, bringing the yield down to 3.692%. The price of the 30-year Treasury bond increased 21/32, bringing the yield down to 3.843%. 

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