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Americans Don’t Do Due Diligence on Advisers
Most Americans don’t check out their financial adviser’s background, according to a new study by the FINRA Investor Education Foundation.
Ford Brings Back the 401(k) Match
Ford Motor Co. will reinstate its 401(k) match in 2010, according to a company announcement.
Investors Turned to Specialized/Boutique Fund Firms for Results
In a background of lingering uncertainty for investors, many mutual fund managers have continued to attract significant inflows to their stock and bond funds in 2009.
Symetra Offers New Group Variable Annuity for 403(b), 457 Plans
Symetra Life Insurance Company has launched Retirement Passport Group Variable Annuity for the 403(b)/457 market.
Pride Joins Glenmede as Director of Investment Strategy
Glenmede has announced that Jason Pride has joined the firm as director of Investment Strategy, a newly created position.
Bond Fund Rush Could be Slowing
While November’s mutual fund inflow to fixed income still added up to $33 billion, that was down from the $40 billion pumped into bond funds for each of...
John Hancock Launches Small Company Fund
John Hancock Funds has completed the adoption of Fiduciary Management Associates’ FMA Small Company Portfolio, and has launched it as the new John Hancock Small Company Fund (JCSAX).
Taxable Bond ETFs Still King of the Hill
Another strong November showing has allowed taxable bond ETFs to walk off with “most popular” honors, with $32.1 billion in net year-to-date inflows, according to Morningstar.
TIAA-CREF Launches iPhone App
TIAA-CREF is the latest financial firm to offer an application for the iPhone.
Hecker Fee Case Prompts Exelon Suit Dismissal
With one eye cast toward the recent closely watched excessive fee case Hecker v. Deere & Co., a federal judge in Illinois has thrown out a similar participant...
Bond Funds Continue Pull on Assets
Flows into bond funds in November, although somewhat off from the blistering pace of the prior three months, were very robust at $38 billion, according to Strategic Insight...
BofA Merrill: Economy Will Gather Momentum in 2010
In its annual investment outlook, BofA Merrill Lynch Global Research projected above-consensus GDP growth and a bullish outlook for equities.
Morgan Stanley Taps Ex-Merrill Exec to Lead Investment Management
Morgan Stanley has tapped a former Merrill Lynch exec to head its investment management arm, according to published reports.
IMHO: Holding Patterns
In one of the more challenging economic years in memory, it is not surprising that the pace of change set in motion in defined contribution plans by the...
IRS Offers Assurance until 403(b) Prototype Program Begins
The Internal Revenue Service (IRS) is offering a way for 403(b) plan sponsors to feel secure, until the new 403(b) Prototype Program begins, that their plan documents will...
SEC Widens Probe of BofA
The U.S. Securities and Exchange Commission (SEC) said today it is investigating Bank of America Corp.’s (BofA) failure to disclose Merrill Lynch’s losses to shareholders voting on Merrill’s...
House Passes Sweeping Financial Reform
U.S. House lawmakers today approved an extensive financial reform measure—but the provision to give the Financial Industry Regulatory Authority (FINRA) more purview over advisers didn’t go through.
IRS Delays Plan Amendment Timetable
The Internal Revenue Service (IRS) has given plan sponsors more time to adopt plan amendments to implement a variety of Pension Protection Act (PPA) requirements, including allowing participants...
IRS Issues Guidance on Complying with TARP and 409A
The Internal Revenue Service has issued guidance on the application of 409A(a) to changes made to nonqualified deferred compensation plans to comply with an advisory opinion of the...