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Franklin Templeton Expands Institutional Footprint With Acquisition of Legg Mason
With the acquisition, Franklin Templeton will preserve the autonomy of Legg Mason’s affiliates, ensuring that their investment philosophies, processes and brands remain unchanged.
Stakes Remain High as 401(k) Balances Reach Record Levels
Despite periods of volatility in the past decade, retirement plan investors have benefitted from a strong equity market and their commitment to investing in tax-qualified vehicles.
Plaintiffs Clear Summary Judgement in CBIZ Litigation
A federal court has ruled that the University of Pittsburgh Medical Center’s lawsuit against CBIZ should not be dismissed as a matter of summary judgment.
M&A Mechanics: What to Know Before Selling or Buying
How is an advisory practice’s value measured? What determines the revenue measurement—or the multiple?
The Case for ‘Blend’ TDFs
PIMCO says that rather than go with an all-actively managed target-date fund (TDF) or an all-passively managed TDF, a mix of the two makes sense—and that there is...
Balanced Portfolio Performance Forecasts Fall Again
“Stocks are trading at a very high price-to earnings ratio, and we don’t see that as sustainable,” says Jon Barry, senior retirement strategist at MFS.
Retirement Industry People Moves
Transamerica makes executive appointments; T. Rowe Price adds senior sales executives; the Segal Group hires senior vice president; and more.
Industry Enthusiasm, Questions About SECURE Act Timeline
In the near term, some of the more modest provisions of the SECURE Act will probably be the most influential, sources agree, but over time the industry impact...
A New Way to Think About Building a Retirement Planning Practice
What is your closing rate for 401(k) plans? Have you tried offering simpler solutions?
Regulatory Radar
NQDC Guidance
Advisers can help clients navigate the complexity of these supplemental plans.
Compliance News
Legislative and Judicial Actions
Key legislation, regulations and litigation from Washington, D.C., and the courts.
Proxy Voting Update on DOL Agenda
The DOL is aiming to "modernize fiduciary practices related to the voting rights associated with ERISA plan investments and harmonize those regulations with the requirements of other regulators.”
Business Owners Dream (Wrongly) of an Easy Retirement Transition
Business owners believe strongly in the value of their businesses, so they are often tempted to reinvest everything into the enterprise, thinking that will be their “retirement plan.”
Can Dual-Registered Firms Provide More Than One SEC Form CRS?
The SEC tackles this question and others in a new FAQ publication about the Regulation Best Interest rulemaking package, as does Morningstar in a new paper that examines...
Ideas for a QDIA Design That Will Better Serve Participants Ready to Retire
Jason Shapiro notes that some DC plan participants may stay in their plan after retirement and rely on TDFs’ asset allocation for retirement income for possibly 30 years...
New SEC Advertising Regulations Warrant Caution
The new principles-based approach to advertising regulations may allow advisers to better tell their stories to prospective clients, but it still requires careful recordkeeping and accurate statements.
Investment Product and Service Launches
Broadridge Financial acquires portfolio management solutions provider; Putnam offers new SMAs and model portfolios; Pacific Global adds ETFs to complement flagship fund; and more.
MSSB Share Class Calculator Errors Led to SEC Settlement
According to the SEC, Morgan Stanley Smith Barney’s share class calculator had two operating errors that caused it not to provide the most beneficial share class to eligible...
SEC Seeks to Bring Adviser Advertising Rules into the Digital Age
As one source points out, the SEC’s advertising rules have not been substantively amended since 1961, long before social media and the dominance of the Internet—even before fax...
Big Providers Focused on Retirement Income—Just Not Annuities
To guarantee or not to guarantee? For some of the leading recordkeepers and investment managers, that’s not a question they necessarily want to answer.