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New SEC Rule Will Require Major Liquidity Providers to Register as Dealers
The targets of the rule likely include major hedge funds trading in government securities as buyers and sellers.
Federal IRA Bill Proposed in House of Representatives
The proposal received widespread support from the retirement and insurance industries.
Bank of America Reports 15% Increase in 401(k)s in 2023
The increase came partly from increased contributions, partly from market gains, which was also noted in separate 401(k) investing research from Alight.
Product Partnerships – 2/7/24
Pacific Life annuity available on Fidelity participant platform; Steward Partners adds Pontera 401(k) management services; Elements partners on free client ‘financial vitals’ with new advisers.
Workers Call for Savings Assistance in New Report
Many employees are stressed about their finances and are tapping retirement savings to make ends meet, according to a survey from SoFi at Work.
7 Steps to Further Diversity in Asset Management
A Milken Institute financial markets director lays out the firm’s plan to improve diversity in asset management.
Senate Bill Would Block SEC Predictive Analytics Proposal
Many industry leaders in retirement planning have called for a full or partial withdrawal of the proposal.
5th Circuit Court Hears Challenge to SEC Private Fund Adviser Rule
The rule requires private fund advisers to make additional disclosures and forbids them from providing investors with preferential treatment related to redemption.
Webinar Series on Fiduciary Duties, Disclosure Requirements to Be Hosted by EBSA in March
EBSA is providing the webinar to inform fiduciaries about various duties such as disclosure, PTEs and voluntary corrections.
Ascensus Restructures Retirement Business and Its Leadership Team
The recordkeeper with a large presence in small businesses and PEPs moves into four business segments.
EBRI Finds Small Businesses Don’t Know About Start-Up Credits
The research institute also found that some businesses would consider ending their plan and joining a state-run auto-IRA program if available.
Inspira Simplifies Structure, Targets More Holistic Market Approach
Inspira Financial, formerly Millennium Trust, will be doing outreach to plan advisers with a more streamlined structure, executives say.
Vanguard Targets ‘Max Savers’ With New Financial Wellness Tool
The firm’s Retirement Savings Maximizer provides guidance toward additional tax-advantaged options if a saver is projected to hit the maximum elective deferrals in their defined contribution plans.
Advisory M&A News – 2/5/24
Mariner Wealth Adds $104B in Institutional AUA; Heffernan makes Florida acquisition; OneDigital adds WealthSource with advisers in 9 states; and more.
PGIM Unveils Retirement Confidence Index
The RetireWell Confidence Index ranks worker responses on a scale of six confidence levels.
Aon Notes ‘Terrific Opportunities’ for M&A
Company sees strong M&A pipeline on the heels of announcing its NFP acquisition.
Retirement Industry People Moves – 2/2/24
Gallagher names new DB leader; Northwestern Mutual makes further moves in succession planning; National Institute for Public Employee Health Care Policy names new head; and more.
What Gen Z Values Most From Employers
The Standard found that workers of Generation Z value traditional benefits, so employers can still focus their efforts on core offerings.
John Hancock Retirement Announces Reorganization
The business has been restructured under new CEO Wayne Park, including changes to the leadership team.
401Kids Savings Act Would Create Savings Accounts for Eligible Minors
Participants could withdraw funds starting at age 18 to pay for higher education, business startups and home purchases.