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Monday, September 25, 2023
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Deals & People
SageView’s Long: ‘Tremendous’ Consolidation Still to Come in Retirement, Wealth
PA-092223-Randy-Long-Sees-More-Consolidation-1177088793-web
The founder, former CEO and now chairman also says serving participants—in or out of plan—will be key to succeeding amid field of advisers and recordkeepers.
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Compliance
Judge Upholds DOL ESG Rule
A Texas judge, appointed during the Trump administration, ruled that the DOL does not violate ERISA by permitting ESG in ERISA-governed plans.
Today’s Most Read
1. LPL Terminates CEO Arnold for Violating “Respectful Workplace” Rules
2. Charles Schwab CEO Walt Bettinger to Retire
3. DC Plan Experts See Slow, Steady Progress in Plan Personalization
Retirement Industry People Moves
Toland leaves TIAA to start annuity consultancy; Bryn Mawr Trust selects director of private wealth management; First Eagle Investments announces new high-yield municipal credit team; and more.
NFP Acquires Divergent Wealth Advisors
The deal expands NFP’s wealth management and retirement capabilities, while broadening its reach in the Western U.S.
Relationship Errors
Clients are someone else’s prospects.
Market Mirror Market Mirror Graph

Friday, the Dow fell 106.58 points (0.31%) to close at 33,963.84, the Nasdaq fell 12.18 points (0.09%) to close at 13,211.81 and the S&P 500 fell 9.94 points (0.23%) to close at 4,320.06. The Russell 2000 fell 5.32 points (0.30%) to close at 1,776.50, and the FT Wilshire 5000 Index fell 96.91 points (0.22%) to close at 43,490.13.

The 10-year Treasury note rose 4/32, bringing the yield to 4.444%. The 30-year Treasury bond rose 29/32, bringing the yield to 4.526.

For the week ending September 22, the Dow fell 1.89%, the Nasdaq fell 3.62% and the S&P 500 fell 2.93%. The Russell 2000 fell 3.82%, and the FT Wilshire 5000 Index finished 3.03% lower.

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