Advisory M&A
Alera buys Ascent Group, adds $2.8B in AUM; Heffernan snags Utah-based insurer; Marsh McLennan acquires HMS Insurance Associates; and more.
Tag: 401(k)
SECURE 2.0 Passes Senate as Industry Overwhelmingly Hopes for House Passage
The bill, which is awaiting House vote, contains the most popular provisions while also giving time for actors to come...
Betterment, Vanguard Find Workers Tapped Retirement Savings in 2022
Workers are increasingly dipping into savings to cover costs that are increasing due to inflation, creating a moment for advisers...
When Merging Retirement Planning and Wealth Management, Participants Must ‘Come First’
As retirement planning and wealth management begin to overlap, a dividing line must be drawn between them for both business...
Fintech SMB Plan Providers Saw Growth in ’22 On Low-Fees, State Mandates
Firms offering low-cost smaller company retirement plans say business is booming despite market volatility, but opinions are mixed on how...
Plan Advisers May Help Boost Employee 401(k) Participation
Of plan sponsors with full employee participation, 80% work with an adviser to help design and manage their 401(k) benefit,...
401(k) Robo-Adviser Blooom Shuts Services, Sells Tech to Morgan Stanley
A 401(k) robo-adviser with more than $5 billion in assets under management stopped servicing clients in November and has sold...
DOL Rule Greenlights ESG, But Questions Remain
The new final rule seeks to make ESG permissible for ERISA plans, but specific use will still need to play...
FTX Bankruptcy Has Chilling Effect on Crypto Use in Retirement Plans
The collapse of the cryptocurrency exchange and related plummet in the crypto market has increased concern about including the asset...
Retirement FinTech Startup Lilly to Push Credit Card Rewards to IRAs
Venture-capital backed startup Lilly Funds recently launched a savings app to ship cash rewards from purchases to retirement accounts.
IRS to Permit Determination and Termination Letters for 403(b) Plans
Beginning in June 2023, the IRS will allow 403(b) plans to apply for determination and termination letters, similar to 401(a)...
SEC Proposes Controversial Rule on Swing Pricing and Liquidity
The SEC proposed a new rule Wednesday that would require all open-ended funds, except money market funds and exchange-traded funds,...
OneDigital, CAPTRUST, Continue Wealth Management Acquisition Binge
OneDigital’s buying spree adds up to $10 billion in additional assets under advisement this year, while CAPTRUST adds fourth deal...
Adviser CEO Faces Up to 45 Years for Fraud, Keeping Employee 401(k) Contributions
Maddox Group’s Adam Belardino faces up to 45 years in prison for wire fraud and making false statements to the...
SECURE 2.0 Likely to Pass this Year
Three separate bills, dubbed SECURE 2.0 when taken together, are likely to be passed into law by this December, according...
Half of Americans Say They’re Reducing or Stopping Retirement Savings Due to Inflation
An Allianz survey finds another 43% of Americans are also dipping into savings to meet costs. But recent PLANSPONSOR and...
IRS Reveals 2023 Contribution Caps for 401(k) and IRAs
The contribution limit changes reflect cost of living changes from this year.
Growth of Digital Assets Spurs New Regulatory Proposals
As interest in cryptocurrencies for retirement grows, policymakers look for ways to contain the risk of digital assets without limiting...
ERISA Suit Brought Against Quanta Services
401(k) participants brought the suit, alleging that Quanta kept certain underperforming funds in its plan menu.