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Long-Running BlackRock ERISA Suit Reaches Settlement
The investment firm has agreed to pay $9.65 million to resolve a fiduciary breach lawsuit, first filed in 2017, questioning the fees paid in its own retirement plan.
Hedge Funds and PE Firms Lead in Digital Tech
A Broadridge Asset Management expert explains how financial advisers can follow in their tracks.
Advisers Giving Back: A Big Year (and Day) of Giving for the CCF
The CAPTRUST Community Foundation (CCF) raised almost $5 million in 2020, of which it donated a record $1 million, to the benefit of more than 200 nonprofits, over...
Industry Issues Early Reactions to Walsh’s DOL Confirmation
Trade groups and advocacy organizations representing the retirement planning industry have reacted positively, if cautiously, to the confirmation of Marty Walsh as labor secretary.
iJoin, PenChecks Automate Force-Out IRA Processing
The firms say it can replace what has traditionally been a tedious, manual process.
Senate Confirms Marty Walsh as Labor Secretary
The full Senate voted Monday evening to approve the nomination of Boston Mayor Marty Walsh to lead the U.S. Department of Labor at critical time for the U.S....
From Ohio to Virginia, More States Look to Update Annuity Standards
The states’ embrace of the NAIC annuity transaction suitability framework comes as experts are raising broader questions about the durability of the SEC’s Regulation Best Interest, on which...
15th Anniversary of RPAY: Ellen Lander
Lander says her practice, Renaissance Benefit Advisors Group, thoroughly enjoys its independence.
Capital Group Offers Resources to Help Advisory Practices Grow
Its new PracticeLab will include regular webinars with financial planning specialists at the firm.
SEC Consolidates Climate, ESG Information
A new webpage brings together all the agency’s actions and information as a response to increased investor demand for climate and ESG investing.
Retirement Industry People Moves
BNY Mellon recruits former State Street managing director; Voya Financial adds to leadership team; Schroders announces changes within leadership team; and more.
The Hartford Contemplating Acquisition Offer From Chubb
Chubb is a provider of personal property and casualty insurance, while The Hartford also provides group employee benefits and mutual funds.
Walsh Could Be Confirmed Monday, Gensler Vote Less Clear
Sources say there is a good chance Boston Mayor Marty Walsh will be confirmed by the full U.S. Senate Monday afternoon, but they are less sure about the...
Despite Reservations, Sponsors’ Interest in Annuities is Growing
Advisers should be educated about annuities and how to analyze them to help plan sponsors decide the best products to use.
Investment Product and Service Launches
Hartford Funds launches new ETF and T. Rowe Price creates Impact Equity Fund.
$35 Trillion in Retirement Savings Tells a Tale of Two Economies
Retirement plan balances have never been higher, fresh data from the Investment Company Institute shows, yet many millions of Americans are unable to participate in the growth.
SEC Seeks Public Input on Climate Change Disclosures
The commission aims to determine if the current disclosures adequately inform investors.
Fidelity Decides to Exit HR/Payroll Business
The decision affects nearly 2,000 existing clients, including retirement plan clients that use a bundled solution.
John Hancock Dashboard Analyzes Retirement Readiness
It also identifies opportunities to improve participant outcomes.
Lawsuit Against MEP Takes Issue With Share Classes, Revenue Sharing
Fiduciaries of the multiple employer plan of professional employer organization (PEO) Nextep, Inc. are being sued over excessive investment and recordkeeping fees.