Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan
A similar lawsuit was filed in May against an investment manager and a different plan sponsor.
Tag: CITs
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 JPMorgan.
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.
As CIT Market Expands, More Get Coveted Tickers
Collective investment trusts are becoming more transparent; case in point, Hand Benefits & Trust Co. has gone live with more than 30 CIT tickers on the Nasdaq Fund Network.
CIT Expertise Puts Advisers in the Driver’s Seat
Knowledge about and connections to the collective investment trust marketplace can be a key selling point for retirement plan advisers in 2020 and beyond—especially when serving small and mid-sized clients.
CITs Fit Well With Best Interest Service
Among the attractive but less-often-discussed features of collective investment trusts is the fact that the sponsoring trustee—a bank or trust company—must commit to acting in the best interest of unit holders.
Legislation Would Allow 403(b)s to Invest in CITs
The bill introduced to Congress is designed to ensure public sector and nonprofit retirement plans have the same access to low-cost investments as for-profit retirement plans do.
Products
Investment Product and Service Launches
AssetMark Financial Holding moves to institutional share classes; AssetMark adds solutions to investing platform; iShares expands ESG initiatives; and more.
Products
Investment Product and Service Launches
FIDx and Transamerica partner to provide annuities; Fidelity adds customized models to AMP solution; J.P Morgan improves TDF analysis tool; and more.
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Investing
Products
Investment Product and Service Launches
Mesirow Financial presents third mutual fund and managed account program, and MSCI builds indexes to track long-term megatrends.
Advocacy Efforts for CITs Allowed in 403(b)s Underway
“We’ve heard the need for these investment options in 403(b) plans from advisers, consultants and plan sponsors for decades,” says Bruce Corcoran, managing vice president/head of 403(b) Business at ICMA-RC.
Nasdaq and Wilmington Trust to Provide Tickers for CITs
The two entities look to encourage CIT adoption among investors, a move that they say has stalled due to low awareness of the funds.
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Investing
Trendspotting
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Investing
Investment Product and Service Launches
Morningstar releases goals-based planning solution; Schwab adds account conversion feature to portfolios solution; and AssetMark to offer Savos personal portfolios.
Education Among Advisers About CITs Is Needed: Cerulli
While they have grown at a compound annual growth rate of 7.25% a year in the past five years, if advisers were better educated about them and if the transparency issue could be addressed, that growth could rise significantly, according to the research firm.
Sponsors Seek Low-Cost TDFs
Providers respond with passive funds, collective trusts
Index Funds Nearly Universal in Large 401(k) Plans
A BrightScope/ICI study also found collective investment trusts (CITs) accounted for a larger share of assets in larger plans than smaller plans.
Sponsors Seeking Advisers with CIT, ESG Expertise
Many retirement plan participants want to deploy their values in their portfolios, as do portfolio managers; advisers can help make this happen.
Retirement Plan Sponsors Increasingly Look for Low-Cost TDFs
This is driving providers to offer inexpensive options, such as series that rely on CITs and passive funds, Morningstar says.
Products
Products
Investment Product and Service Launches
HB&T creates a collective investment fund with Jensen Investment Management, while Principal and NDW launch a new ETF model portfolio.
OneAmerica Launches CIT Research Tool for Advisers
The CIT product information database was created in collaboration with Broadridge Advisor Solutions and is designed to support the client service needs of financial advice professionals.