Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
September 10th, 2020

Investment Advice Revisited

Advisers need to comply with the DOL’s impartial conduct standards. These require that the adviser: 1) make recommendations in accordance with a best interest standard, which is articulated the same way as the standard of conduct under Reg BI; 2) receive reasonable compensation; and 3) not make any materially misleading statements. Read more >
MassMutual Cites Scale in Agreeing to Empower Deal
The recordkeeper also notes that fee compression is largely driving the ongoing industry consolidation. Read more >
CAPTRUST Reveals Acquisition of Plante Moran Financial Advisors
The ‘carve-out’ acquisition brings CAPTRUST’s assets under advisement to $400 billion and represents the continuation of an important retirement plan industry trend involving large, diversified financial services firms. Read more >
Important Details About SECURE Act Birth and Adoption Distributions
Under the SECURE Act, more flexibility has been granted to participants who want to draw on retirement savings to help offset the cost of childbirth or adoption—though care must still be taken to avoid unnecessary taxes and fees. Read more >
PANC 2020 Update: A Live Conversation with Dr. Larry Brilliant
The coronavirus has upended our world in ways few would have predicted. One person who has fought pandemics for most of his professional life is epidemiologist and humanitarian, Dr. Larry Brilliant, MD. He was a key figure in the battle to end smallpox in the last century and will provide us with perspectives on how pandemics end—and the process we’ll have to go follow to see it through to the finish. Read more >
Human Interest Offers 3% Cash Back for New Retirement Savers
Retirement Industry People Moves
Pilot Sues American Airlines Due to ESG 401(k) Investing Strategy
Vestwell Partners With Payroll Provider Gusto on Integrated 401(k)
Franklin Templeton to Acquire Putnam for $925 Million
Envestnet Offers Retirement Analytics Solution for Enterprise Home Offices
Envestnet has rolled out Envestnet Retirement Analytics for enterprise home offices of broker/dealers to help them make strategic decisions about their books of business for employer-sponsored retirement plans. Read more >
Winners' Circle: Three Who Lead the Way
As is often the case when it comes to advisers determining how to work with participants, the three advisers interviewed for this article, Daniel Bryant of Sheridan Road, Rita Fiumara of UBS and Rick Wedge of Pensionmark, show there is no one-size-fits-all method, as they each approach their work from a different angle. Read more >
Advisers Giving Back: Bernadette Lanser and St. Ben’s Community Meal
It was originally supposed to be a one-time thing, but at this point, Lanser has spent more than 17 years volunteering at St. Ben’s Community Meal program. Read more >
Market Mirror
Wednesday, the Dow gained 439.58 points (1.60%) to finish at 27,940.47, the NASDAQ closed 293.87 points (2.71%) higher at 11,141.56, and the S&P 500 increased 67.12 points (2.01%) to 3,398.96. The Russell 2000 was down 8.82 points (0.57%) at 1,526.48, and the Wilshire 5000 climbed 689.83 points (2.03%) to 34,659.01. The price of the 10-year Treasury note was down 3/32, increasing its yield to 0.702%. The price of the 30-year Treasury bond decreased 9/32, bringing its yield up to 1.458%.
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