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DOL Says Citi’s Diverse Asset Manager Program is Unlawful
The Department of Labor said the guidance no longer reflects its views, rescinding a 2023 advisory opinion approving the Citi program in question.
Retirement Industry Deals and People Moves – 7/11/2025
Cetera Advisors names Richard Vogel as community leader; FTI hires Luke Shane; Dechert adds Robert Shapiro to DC office; and more.
Retirement Industry Deals and People Moves – 6/27/2025
SBA names Andy Clonts as senior benefits consultant; Cheryl Morrison Deutsch joins 401GO as chief experience officer; Lincoln Financial hires three for retirement services team; and more.
EBSA Budget Request for FY26 Down 5% from FY25
The Pension Benefit Guaranty Corporation, which provides financial assistance to distressed pension plans, also requested a smaller budget at $21.8 million, down from $38.9 million in fiscal 25.
DOL Introduces Multi-Agency Opinion Letter Program
The initiative aims to improve compliance assistance by providing more accessible guidance about federal labor laws across five agencies, including the Employee Benefits Security Administration.
DOL Announces Intentions to Craft New ESG Retirement Investing Rule
In April the department stated it was considering rescinding the 2022 ESG rule and asked the 5th Circuit to pause its consideration of an appeal of a lower...
Moving Toward AI, Both Ethically and Responsibly
As AI is integrated into financial services, the industry must grapple with how to review and manage oversight.
ESOP Bills Introduced in Senate
The two bills, proposed by Senator Bill Cassidy, aim to strength employee stock ownership plans.
Product and Service Launches – 5/9/25
Vanguard debuts gen AI tool to enhance adviser-client communications; World Investment Advisors gets access to Pontera’s platform; Integrated Partners implements fraud tools to protect clients; and more.
DOL Stops Enforcing Biden-Era Independent Contractor Rule
Though the agency has not fully rescinded the 2024 rule, it indicated it will return to a simpler standard to define an independent worker.
DOL Reconsidering Biden-Era ESG Considerations Rule
Although the rule survived several court challenges during the Biden administration, it is in jeopardy once again.
2025 RPAY – Beryl Ball, CAPTRUST
Business at a Glance as of 12/31/24 Location: Richmond, Virginia How many plan assets do you have under advisement? $7.78B What is your median plan size (in assets)?...
Nomura to Acquire Macquarie’s US and European Asset Management Business
The acquisition, which brings over $180 billion in assets under management, will also give Nomura a wealth management channel in the U.S.
Lawsuits Call Attention to ESOP Cash Holdings
Plan fiduciaries have been accused of failing to prudently invest cash held in employee stock ownership plan trusts in recent cases.
Fired Probationary Workers Reinstated at EBSA
The probationary employees and head of the Department of Labor’s Division of Employee Ownership, who were recently terminated, reportedly received notices that their positions will be reinstated.
What DOL Layoffs Could Portend for EBSA’s Future
Probationary employees and the head of the agency’s division of employee ownership were recently terminated amid President Donald Trump’s efforts to reduce the federal workforce.
What Recordkeepers Want From Advisers
The crux of a good partnership with an adviser is the willingness to work together, including an open dialogue about the approach to working with a client.
Product & Service Launches – 2/20/25
Alera Group expands its wealth management and retirement plan solutions; Berwyn Group launches a death audit solution; J.P. Morgan launches an active ETF; and more.
Retirement Industry People Moves – 2/14/25
The Standard names a regional vice president in retirement plans; Nationwide Retirement Solutions welcomes a consultant relations manager; Easterly Asset Management names an SVP of sales; Luma Financial...
DOL Files to Pause Appeal of Fiduciary Rule
Under the previous administration, the Department of Labor had filed notices of appeal in the fall of 2024 in two federal court rulings that stayed the implementation of...