Week ending June 19th, 2020

Greetings loyal PLANADVISER readers! Coming on the third Friday of the month, this weekend’s mailing is dedicated to the timely and evolving topic of financial wellness. While the topic has been an important focal point for several years now in the retirement plan advisory space, the coronavirus pandemic has cast an entirely new light on the concept of financial wellness. Simply put, the virus has exposed financial fractures and weak points impacting individuals across the income spectrum, putting the onus on advisers to help people create a sense of stability and confidence about their short-term finances.

Editor's choice

Economic Murkiness Won’t Soon Dissipate

One economist says there is so much noise in the data that it’s hard to assess where we are right now, let alone where things are going from a macroeconomic perspective. Read more >

Simple Steps Toward Retirement Certainty in Uncertain Times

Many people don’t know as much as they should about retirement and investments. There is no time like the present to learn. Read more >

Surprising Findings in Savings Analysis Suggest Salary Matters Less Than Assumed

A new analysis published by EBRI in collaboration with J.P. Morgan suggests a person’s spending habits, rather than their salary, seem to have the biggest influence on whether they are a low saver or an average saver. Read more >

How Coronavirus Has Impacted Investor Confidence

Data collected immediately before the pandemic shows retirement confidence was about as high as it’s ever been; more recent data shows that’s still the case, though shorter term worries are ballooning. Read more >

Financial Wellness in the Age of Pandemics

Pandemics are not only a public health crisis, but also a crisis of employee confidence. Tech-savvy advisers and employers can help. Read more >

In Times of Stress, Timely Communications Make a Big Difference

New data shows the education and guidance firms are providing is helping individuals to stay the course. Read more >

MOST POPULAR STORIES

Franklin Templeton to Acquire Putnam for $925 Million

The deal would boost Franklin’s defined contribution asset management to $90 billion in AUM, while Great-West, parent of Empower, will gain a stake in Franklin.

Congress Says It Will Fix at Least 4 Errors in SECURE 2.0

The errors include the startup credit, RMD, SIMPLE IRA plans and Roth catch-ups.

Smart Acquires Managed Account Provider ProManage

Following Smart’s recent $95 million Series E funding round, the acquisition takes Smart’s global assets under management total to more than $10 billion.

Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say

Proprietary recordkeeper fund options can be worth the fee reduction in investment plans, but they must be looked at carefully, note advisers in a PLANADVISER practice progress webinar.

FINRA Fines Vanguard for Overstating Money Market Projections

A ‘technical’ issue led to overstated projections of yield and income for nine money market funds for about 8.5 million accounts.

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