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BNY Taps Minaya as Global Wealth Head
The former leader of TIAA’s Nuveen asset management division will start in the role on September 3.
GE Hit By Athene PRT Lawsuit
Schlichter Bogard LLP files a lawsuit against General Electric for completing a pension risk transfer with Athene, joining suits against AT&T and Lockheed Martin, among others.
Advisory M&A News – 7/1/24
NewEdge Advisors welcomes Fortis Wealth Advisors; 4 wealth managers join Savvy Advisors; Perigon Wealth Management acquires Creative Financial Planning; and more.
Where is the Disconnect Between Employers and Employees?
Payroll Integrations finds that employers pay for benefits their workers think are not very important.
The DOL, the IRS and the Chevron Reversal
The Supreme Court’s Chevron reversal creates uncertainty for plan advisers and sponsors.
FSI, SIFMA Join Insurance Industry Lawsuit Against Retirement Security Rule
Brokers and asset managers have also opposed the rule, alongside the life insurance industry.
From Plan Education to Wealth Management
When does financial education and planning for a 401(k) participant turn to individual wealth management? Practitioners discuss best practices for when education becomes fee-based advisement.
Challenges Facing Young Savers
Industry experts discuss how to address challenges facing young workers.
Participants’ Progress
Fresh research shows signs of progress for 401(k) savers, but challenges from lack of access to losing momentum due to job changes still need to further increase participant...
Retirement Industry People Moves – 6/28/24
New York Life Institutional taps Grieco to lead nonqualified compensation distribution; Nationwide appoints Rodriguez to lead institutional sales for retirement; OneDigital promotes Bailey to head Northeast; and more.
Expert Reaction to the IB 95-1 Report
Though it lacked conclusions from the DOL, the report and the story behind it reveal where the DOL may further study and consider changes to the PRT market.
Chime Acquires Savings Benefits Startup Salt Labs
The Salt Lab team, led by benefits entrepreneur Jason Lee, and the firm’s offering will become a part of Chime.
Fidelity Reveals Top 5 Optional Provisions Plan Sponsors Are Most Likely to Adopt
Survey shows plan sponsors are most likely to adopt increased catch-up contribution limits for participants aged 60 through 63.
SPARK To Host Workshops On SECURE 2.0 Implementation
SPARK Institute and Vangaurd will host the workshops to focus on collaboration between retirement plan recordkeepers and payroll providers on SECURE 2.0 mandates and provisions.
Product & Service Launches – 6/27/24
John Hancock launches multi asset credit fund with Manulife; Morgan Stanley Wealth adds suite of generative AI tools; Avantis offers a new small cap equity fund; and more.
OneDigital Promotes Bailey to Grow Northeast
Emily Bailey will oversee the New York to Maine region with an eye to build on the team’s roughly 400-person footprint.
SEC’s ALJ Process Rolled Back by Supreme Court
The court ruled that issuing fines administratively violates the Seventh Amendment.
SageView Launches First Pooled Plan Solutions With Transamerica
RIA jumps into the PEP space as the 3(38) investment manager and financial adviser for a couple pooled plan options.
CFP Board Files Amicus in Support of Retirement Security Rule
Brief pushes back on arguments it will be costly to implement and limit advice to retirement savers.
House Republican Appropriations Proposal Would Cut EBSA and Block Fiduciary Rule
The budget bill is unlikely to pass in its current form.