Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
October 8th, 2020

Why LinkedIn Premium Reins Supreme for Financial Advisers

Putnam executives Mark McKenna and Renee Taber explain why LinkedIn has emerged as the social media platform of choice for financial advisers—and why many advisers are now paying for LinkedIn’s premium features. Read more >
Salesforce Defeats ERISA Excessive Fee Litigation
A district court in California has proven to be skeptical of claims suggesting that active management funds are categorically imprudent retirement plan investments; the ruling also defends the use of revenue sharing.  Read more >
District Court Left to Reconsider Decision in Principal GIC Contract Lawsuit
The Supreme Court has denied review of the lawsuit accusing Principal Life Insurance Co. of violating ERISA by setting the crediting rate for a guaranteed investment contract such that it can “retain unreasonably large and/or excessive profits.” Read more >
Investment Advice Revisited
The proposed exemption, particularly the language in the preamble, is a significant development. Some advisers will find it helpful, at least in principle, others may find its conditions unworkable in the current form. Read more >
Advisers Giving Back: Attila Toth and Portfolio Evaluations
Investing in the local community has been an important part of the firm’s identity from its founding in 1992, and it makes sure to involve its staff members’ spouses and families to make its giving even more meaningful. Read more >
Franklin Templeton to Acquire Putnam for $925 Million
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
Smart Acquires Managed Account Provider ProManage
Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say
FINRA Fines Vanguard for Overstating Money Market Projections
Sponsored message from OneAmerica
Choice and Simplicity
Interview with Sandy McCarthy. Read more >
An Eye-Opening Millennial Q&A
Kevin Boyles at Millennium Trust says companies have been responding to the pandemic with exceptional agility—driven in no small part by the expectations of their Millennial workers. Read more >
Pooled Employer Plans and 3(38) Fiduciary Advisers
One provider getting ready to launch a SECURE Act-enabled pooled employer plan on January 1 says he is already in conversation with advisers about combining 3(38) fiduciary oversight with PEP recordkeeping and administration. Read more >
2020 PLANADVISER Micro Plan Survey
Micros lagged far behind larger plans in fiduciary best practices such as having an investment committee. Read more >
Market Mirror
Wednesday, the Dow gained 530.70 points (1.91%) to finish at 28,303.46, the NASDAQ closed 210.00 points (1.88%) higher at 11,364.60, and the S&P 500 increased 58.50 points (1.74%) to 3,419.45. The Russell 2000 was up 33.75 points (2.14%) at 1,611.04, and the Wilshire 5000 climbed 606.50 points (1.75%) to 35,180.06. The price of the 10-year Treasury note was down 4/32, increasing its yield to 0.788%. The price of the 30-year Treasury bond decreased 32/32, bringing its yield up to 1.584%.
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