Search results for: SCO
Principal GIC Lawsuit Revived by Appellate Court
The original lawsuit accuses Principal Financial Group of violating ERISA by setting the crediting rate for a guaranteed investment contract (GIC) such that it can “retain unreasonably large...
Retirement Industry People Moves
Miracle Mile Advisors hires investment expert; Empower Retirement selects asset management SVP and head; Employee benefits partner joins Dechert LLP; and more.
Excessive Fee Suit Targets Navy Defense Contractor Serco
The lawsuit resembles many others that have been filed under the Employee Retirement Income Security Act (ERISA), suggesting an employer permitted excessive recordkeeping and mutual fund fees in...
M&A Mechanics: What to Know Before Selling or Buying
How is an advisory practice’s value measured? What determines the revenue measurement—or the multiple?
MassMutual DC Plan Clients Now Have Emergency Savings Solution
The emergency savings solution is available automatically through MassMutual’s MapMyFinances financial wellness tool.
Cerner Corporation Targeted in Excessive Fee Suit
Repeating a number of excessive fee lawsuits filed, the complaint says the defendants did not try to “reduce the plan’s expenses or exercise appropriate judgment to scrutinize each investment...
The Consolidation Stars Remain Aligned in 2020
The advisory, insurance and asset management industries have never been so ripe for consolidation, merger and acquisition experts agree.
2019 Adviser Choice Awards
PLANADVISER has announced winners of the sixth annual Adviser Choice Awards, to be handed out at the 2020 PLANSPONSOR + PLANADVISER Excellence in Retirement Awards on September 24th.
Closing of Schwab ETF OneSource Reflects Market’s Fee Concerns
Launched in 2013, the platform originally allowed clients to buy and sell about 100 exchange-traded funds with no online trade commissions. Since then, investors’ expectations about fees and...
Balanced Portfolio Performance Forecasts Fall Again
“Stocks are trading at a very high price-to earnings ratio, and we don’t see that as sustainable,” says Jon Barry, senior retirement strategist at MFS.
Retirement Industry People Moves
Cerity Partners merges with wealth management firm; Prime Capital names Qualified Plan Advisors leader; MassMutual hires worksite distribution head; and more.
Prudential Investment Management Consents to FINRA Censure
FINRA says a lapse in sufficient supervision led to retirement plan clients being supplied with inaccurate investment expense ratio and performance information.
2019 Broke RIA and IBD Merger and Acquisition Records
Fidelity reports there were 127 registered investment adviser merger or acquisition transactions during all of 2019, which is up 44% over 2018.
Stretch IRA’s Disappearance Demands Trust Adjustments
“There is a lot of work that some clients should do right away—it’s actually imperative to address these issues in a timely fashion,” warns Jamie Hopkins at Carson...
Keeping Defaulted Participants on the Right Path
Roughly 80% of participants initially accept target-date funds when they are offered as the default investment, although acceptance declines to approximately 70% after five years of participation.
Dodd-Frank Authors Say Reg BI Should Be Halted by Appeals Court
The 2nd Circuit has been asked to halt the implementation of the SEC’s Regulation Best Interest by a coalition of parties that now includes the lead sponsors of...
ERISA 403(b) Litigation Informs Plan Governance Practices
403(b) plan sponsors need help understanding their fiduciary duties, reviewing plan investment lineups and benchmarking fees.
Slocum Reaches Settlement in Banner Health ERISA Dispute
Case documents note the settlement has only been reached after “extensive litigation, lengthy discovery and protracted arm’s-length negotiations with the assistance of a national mediator.”
Revenue Sharing, Recordkeeping Fees at Issue in Trader Joe’s Lawsuit
Employees of the grocery chain accuse their employer of acting imprudently in the selection of retirement plan investment options and of failing to monitor the services and fees...
Wilmington Trust to Pay $5 Million to Settle ESOP Lawsuit
The motion cites as one reason for settlement “probable costs, in both time and money, of continued litigation.”