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Weekday news and analysis for retirement plan advisers
Monday, October 17, 2022
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Retirement Industry People Moves
SageView Advisory Group to acquire women-led Lakeview Wealth Management; Corebridge Financial hires president of retirement services; UBS hires seven in California; and more.
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ERISA Industry Committee Comments in Opposition to New DOL QPAM Rule
The DOL has proposed that QPAMs would be disqualified for 10 years for foreign convictions and for entering into non-prosecution agreements with the DOJ. They also proposed new contractual requirements for QPAMs.
Today’s Most Read
1. PEP Pros and Cons
2. Evaluating a Retirement Income ‘Easy Button’
3. NAPA Head Warns of 401(k) Revenue Grab by Policymakers
The Challenges and Opportunities for ESG Portfolios
Georgetown conference panel discusses how ESG should be understood in the context of other socially informed investments, and how it should be regulated.
Social Security Benefits See Highest Increase in 40 Years
The increase tops the 5.9% cost-of-living adjustment seen in 2022.
Financial Challenges Prevent Saving for Retirement
A new Goldman Sachs Asset Management retirement report finds  myriad competing financial priorities are impeding participants from saving sufficiently for retirement. 
Market Mirror Market Mirror Graph

Friday, the Dow decreased 403.49 points (1.34%) to finish trading at 29,634.83, the Nasdaq lost 327.76 points (3.08%) to close at 10,321.38 and the S&P 500 was down 86.84 points (2.37%) to close at 3,583.07. The Russell 2000 lost 46.01 points (2.66%) to close at 1,682.40 and the Wilshire 5000 was down 893.90 points (2.44%) to close at 35,778.84.

The price of the 10-year Treasury note decreased 28/32 bringing the yield up to 4.024%. The price of the 30-year Treasury note decreased 32/32 bringing the yield up to 3.995%.

For the week ending October 14, the Dow gained 1.15%, the Nasdaq decreased 3.11% and the S&P 500 was down 1.55%. The Russell 2000 was down 1.16%, and the Wilshire 5000 finished 1.76% lower.

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