A look back at how Fidelity will charge new plan sponsor clients on its platform who choose Vanguard products makes visible the hard-nosed competition that defines the retirement plan recordkeeping and brokerage industries.
The interactive technology enables retirement advisers to demonstrate to plan sponsors how modifications in plan design can impact their employees’ retirement readiness, and the shifting cost of providing the plan for the employer.
News emerged Tuesday of a shift in the way Fidelity and Vanguard, two of the largest-volume providers of recordkeeping and investment products for retirement plans, work with and compensate one another—and how certain costs are ultimately charged and disclosed to participants.
“Understanding and discussing the tax impact of your investment and retirement account withdrawal recommendations is not the same thing as giving tax advice,” explains Joe Elsasser, president of Covisum.
Changes to the tax code will impact retirement planning beyond individual and pass-through business taxation; investing support tools and tax management platforms trusted by advisers have to make their own adjustments.
Two retirement industry thought leaders reflect on the year that was; both agree there is a tremendous opportunity to drive positive change in 2018; might a “new” Pension Protection Act be on the horizon?
Nikki Newton is appointed president of Ivy Distributors Inc.; John Hancock Retirement Plan Services forms a new leadership team charged with enhancing the delivery of large customized retirement plans.
The original complaint accuses the plan and its administrative and investment committees of self-dealing, causing excessive fees to be charged by service providers and mismanaging the plan’s emerging markets equity fund.