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Retirement Industry People Moves
SageView hires Sarah Parker as plan consultant; SWBC Retirement brings on new investment adviser; CalPERS names Teykaerts executive director, replacing Selenski; and more.
AI Meets Retirement: How Newfront is Mining 5500s, Leveraging Chatbots
The tech-focused advisory recently brought its AI-driven benefit solutions to Congress. This fall, it will be using AI capabilities to mine Form 5500s for plan sponsor clients.
Gensler: SEC Will Continue Enforcement Against Crypto Companies
Securities and Exchange Commission Chair Gary Gensler testified that cryptocurrencies are a “highly speculative asset class” and that the crypto industry as a whole is “rife with fraud...
The PLANADVISER Interview: Tina Anstett, Senior ERISA Counsel, Smart
A senior counsel who consults on ERISA fiduciary issues and IRS and DOL audits discusses the state of artificial intelligence regulation in the retirement plan business.
Investment Service and Product Launches
Savvy Wealth launches AI-powered adviser platform; MassMutual, Nationwide announce buffered annuities; and Touchstone launches ETF focused on securitized income.
Pontera CEO: Advisers Agnostic as to Where Retirement Assets Sit
The fintech firm connecting advisers to 401(k) account management announced another in a string of partnerships Thursday with Founders Financial, an RIA.
EBSA Mulls Modifying PRT Rules
Many stakeholders advised the DOL on how to change fiduciary standards for annuity provider selection.
American Funds Sees Strongest TDF Inflows in Q2
Vanguard saw the second most inflows, according to Simfund, as overall target-date fund assets ended at a robust $1.63 trillion.
Allianz Finds Growing Interest in Annuities in Employer-Sponsored Retirement Plans
Meanwhile, Nationwide announces a new lifetime income annuity.
MOVEit Hack Brings Vendor Assessment to Forefront
SPARK Institute members provide guidance on how advisers can both prepare for and respond to participant data concerns stemming from nationwide breach.
Industry Group Says Roth Catch-Ups Too Burdensome for 2024
SECURE 2.0 rules expanding catch-up contributions into a Roth source will be a huge undertaking for sponsors and recordkeepers.
Adviser Product Partnerships
Passthrough and STP Investment Services announce partnership; Viu by Hub partners with SafeStreets; FusionIQ selects FinMason as investment data provider; and more.
ERISA Advisory Council Highlights Trends in Pension Risk Transfers
PRTs are trending upward, but their relationship with private equity and non-traditional investments is drawing more scrutiny.
IRI Releases DEI Best Practices for Talent Acquisition
Christina Brady, the IRI’s COO, says the publication is a result of considerable discussion across 2022 and 2023.
Capital Group Partners With Financial Finesse to Reach Large Plan Sponsor Market
An initial program targeting the midsize plan sponsor market saw 38% participant engagement.
Fiducient Advisors Names Sabrina Bailey CEO
Fiducient brings on retirement and asset management veteran from the London Stock Exchange.
Verizon Settles 401(k) Complaint for $30M
The agreement is still pending court approval but would end 7-year court case.
SEC’s Gensler Says AI Can Create Conflicts of Interest
The SEC chair said that an AI program that even accounts for the interests of the adviser could present conflicts of interest.
IRS Issues RMD Relief Related to SECURE Rules
The IRS notice provides additional time to rollover mistaken required minimum distributions as well as RMD relief for IRA beneficiaries.
Advisory M&A
Hub expands in Southeast; Nava acquires benefits consultancy; Cerity adds wealth managers focused on women-owned businesses; and more.