LifeYield partners with financial tech provider; Vanguard changes manager structure of value funds; Northern Trust expands collateral management services; and more.
HighTower advisers have access to Riskalyze solutions; John Hancock announces second round of reduced fees; and Voya Financial releases new TDF solution.
The lawsuit accuses the retirement plan committee of CHS/Community Health Systems, Inc. Retirement Savings Plan and Principal defendants of imprudent management of the plan and its investments.
With its fee reduction, 21 of the 22 Fidelity Freedom Index Funds will have total net expenses lower than comparable Vanguard index target-date funds, Fidelity says.
However, a federal judge change the class definition for the imprudent investment claims because class representatives were not all invested in the funds challenged.
The suit questions the use of actively managed versus passively managed funds. It also suggests that collective trusts and separate accounts are better vehicles than mutual funds for retirement plans.