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2008 Toll: $10T Less in Managed Assets
The economic crisis erased just under $10 trillion in professionally managed assets in 2008, with the bulk of the decline seen in the final quarter, according to Cerulli...
CCP Offers Retirement Security to Law Firms
Corporate Compensation Plans Inc. (CCP) has launched a Retirement Security program to protect retirement benefits in the 401(k), profit sharing, and defined benefit pension plans of law firm...
Principal Relaunches Fund without Geographical Limits
The Principal West Coast Equity Fund is now the Principal Capital Appreciation Fund (ticker: CMNWX).
Aon Appoints Retirement Practice Leader for Northeast Region
Eugene Oppo has joined Aon Consulting as senior vice president and retirement practice leader of the Northeast region.
Empire State Administrator Enhances Call Center and CSRs
BPAS, a Utica, New York-based administrator and consultant, has upgraded its call center and customer service representative (CSR) teams.
Woman Sentenced to Prison for 401(k) Theft
A woman accused of stealing from a co-worker’s 401(k) account has been sentenced to a one-year jail term.
Arlt, Griswold Named to Fiduciary Counselors Posts
Mary Ann Arlt has joined Fiduciary Counselors Inc. as senior vice president, Plan Administration, and Kathy Griswold has joined as director of investments, the company announced.
Court Finds No ERISA Violation in Wachovia Fund Merger
Wachovia Bank did not violate the Employee Retirement Income Security Act (ERISA) when it sent a form letter to investors notifying them of a fund's merger with another...
P&A Group Launches CIFs for Fee-Based Advisers
P&A Retirement Plan Services is expanding its open-architecture product matrix to focus on the fee-based adviser channel, the company said.
Contractors Plan Adds Nationwide Investment Platform
Fringe Benefit Group, provider of group benefit plans designed for hourly and part-time workers, has added the Nationwide Retirement Clear Advantage platform as one of the investment plan...
New ETF Designed to Minimize Single-Sector Impact on Returns
ALPS launched the Equal Sector Weight ETF (ticker: EQL).
Goldleaf Names Sales Director for Southwestern Region
Goldleaf Partners, a national retirement and employee benefits administration and consulting firm, has named Thane Walton as sales director.
Arnerich Massena Publishes Target-Date White Paper
Arnerich Massena&Associates, Inc., a Portland, Oregon-based independent investment consulting firm, has released the white paper "Not All Target-Date Portfolios Are Created Equal."
MSSB Launches Blog for Female FAs
Morgan Stanley Smith Barney (MSSB) said it launched the Women Financial Advisors Forum (WFAF), a blog for women interested in becoming financial advisers at the firm.
Target-Date Funds Gain Popularity in 403(b) Plans
A new survey found that more than half (51.2%) of 403(b) sponsors provide target-date funds in their plans.
Hartford Releases Cash Balance Offering for Small Businesses
The Hartford has announced a new cash balance program for small businesses and professional entities.
African-Americans, Hispanics Lag on Retirement Savings
A new study found African-American and Hispanic workers have lower participation rates and contribute less to their 401(k) plans than their white and Asian counterparts.
Advisers Made More Money in 2009 than 2008
A recent survey found that financial advisers are moving toward fee-based service and emphasizing holistic advice more than last year.
BofA Now Biggest Wealth Manager
A new survey found that Bank of America Corp. (BofA) holds the title of the biggest wealth manager through the end of 2008.
Ex-Goldman Programmer Nabbed in Trade Secret Theft Scheme
A former Goldman Sachs computer programmer was charged with stealing trade secrets based on the theft of computer codes used for automated stock and commodities trading.