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Fidelity to Pay $28.5 Million to Settle Self-Dealing Suit
The settlement agreement also calls for the monitoring of plan recordkeeping fees and the plan’s investment options.
Retirement Industry People Moves
Orion Advisor Solutions adds TAMP provider; Cetera selects business development head; MassMutual Advisors Association appoints president; and more.
Three New ERISA Lawsuits Bash Actively Managed TDFs
Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.
Attorneys Offer Closer Reading of DOL’s Open MEP RFI
Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal...
Wave of Coronavirus Hardship Distributions Still Building
Only 5% of respondents to a new survey have withdrawn from their retirement accounts, but another 7% said they plan to do so in the coming weeks.
Be Prepared for a Potentially Wild Third Quarter
After falling precipitously in the first quarter, the S&P 500 Index added 20% during the second, making for the best quarter since 1998 and the best second quarter...
Despite DOL’s Proposed Tightening, ESG Can Still Shine
It is not all doom and gloom for plan sponsors and participants who want these investments. Here’s what advisers should know about the new rules proposed by the...
With Another Rule Proposal, DOL’s Fiduciary Saga Continues
The Department of Labor has taken yet another step forward in what has been more than a decadelong effort to update the fiduciary duty applying to investment professionals...
DOL’s New Proposed Fiduciary Rule Aligns With Reg BI, NAIC Suitability
Multiple national-level conflict of interest rules are now aligned that will require financial professionals to act in the best interest of consumers.
Empower to Acquire Digital Adviser Personal Capital
Personal Capital will be positioned to serve plan participants who seek a combination of digital and human advice while helping to accelerate the capture of rollovers and other...
Court Quashes Lawsuit Challenging SEC’s Reg BI
The 2nd U.S. Circuit Court of Appeals found the regulation, which goes into effect tomorrow, is authorized by Dodd-Frank and is not arbitrary and capricious.
Advisers Giving Back: Brad Arends at intellicents
The plight of rural community health care systems is a personal matter for the community in Albert Lea, Minnesota, and for Brad Arends at intellicents.
Retirement Industry People Moves
TIAA announces additions to executive committee; TRA acquires retirement plan administrator; and Compass Advisors names retirement services director.
Estee Lauder Faces 401(k) Plan Excessive Fee Lawsuit
The lawsuit argues that while the TDFs in the plan are CITs, they are private label CITs with much higher expense ratios than the typical CITs offered by...
Financial Consequences of COVID-19 Differ Across Generations
Tailored financial advice is now more vital than ever for participants at all stages of the retirement savings journey, experts say.
DOL Files Brief in Case Over ERISA Preemption of CalSavers
A brief filed in a federal appellate court explains how the agency believes a federal district court erred in dismissing the case.
Investment Product and Service Launches
Calvert launches institute for responsible investing; BNY Mellon and Wilshire Associates create TDF platform; and intellicents to use Morningstar managed account service.
Consider How CITs Can Fit Into Your Practice
Collective investment trusts (CITs) can help clients address fee pressures, support an increased focus on fiduciary obligations, provide a means to build white-labeled investments and more.
IRS Actively Seeking Out CARES Act Fraudsters
Officials say criminals have already gotten millions in PPP loans and unemployment insurance.
Employers Called on to Retain Older Workers
By one estimate, allowing people to work longer could boost GDP by 19%.