Creative Planning Buys ‘Disruptor’ America’s Best 401k
The deal announced by Creative Planning and America’s Best 401k shows recordkeeper consolidation is not just occurring at the top end of the market.
Tag: Recordkeeping
Principal Reveals Eagerly Awaited Wells Fargo Platform Integration Strategy
Principal is incorporating capabilities from the Wells Fargo Institutional Retirement and Trust platform into its own proprietary recordkeeping system, which will serve Principal and transitioning Wells Fargo customers moving forward.
Wells Fargo and Principal Can Learn From John Hancock-New York Life Deal
The recently finalized acquisition of Wells Fargo’s Retirement and Trust business by Principal Financial Group calls to mind an earlier deal, inked by John Hancock and New York Life.
Leafhouse Packaged Solution Helps Advisers Support Plan Sponsors
The advantages of working with FlexPrecision allow financial advisers to concentrate on market opportunities and to cultivate new business.
Can the Big Recordkeepers Keep Getting Bigger?
Kevin Barry, president of workplace investing for Fidelity, talks recordkeeping industry consolidation and the need for scale.
SPARK Clears Up Definitions for Retirement Plan Cybersecurity
The SPARK Institute's Data Security Oversight Board (DSOB) worked with definitional examples from national cyber standards, international regulations, state privacy laws, and client contracts and gathered insights from the plan consultant representatives on the board.
Court Rejects City National’s Argument About Damages for Self-Dealing
City National argued that if a District Court had considered certain offsets to the damages award, it would have been clear that the bank never received more compensation than necessary for performing recordkeeping services for its own plan.
Recordkeeping Clients of BB&T and SunTrust Wait for More Merger News
The recently-announced merger between BB&T and SunTrust will create the sixth-largest retail banking organization in the U.S.; both firms also have a presence in the DC plan recordkeeping world, prompting questions about what the deal could mean for retirement plan clients.
Fee Transparency, Custom Defaults on Client Agendas for 2019
Even as the retirement plan industry has evolved in important and significant ways, the manner in which providers present fees and articulate value has not changed all that much.
Sponsors Still Focused on Fund Menu Simplification, Fee Transparency
Speakers at the Best of PSNC 2018 event in Boston said diversification remains incredibly important, but simplifying the fund menu is a win-win for participants and sponsors.
Recordkeeper for 403(b)s With Multiple Providers Updates Platform
The changes streamline the investment, administrative, operational and communication processes for 403(b) participants, plan sponsors and advisers, says IPX.
Different Flavors of Fee Levelization
As one of the first steps of pursuing fee levelization, plan sponsors and advisers should consider whether participants will be charged on a “pro rata” or “per capita” model.
AT&T Defeats ERISA Challenge, but Amended Complaint Is Likely
The decision by the U.S. District Court for the Central District of California is short and to the point, stretching just 15 pages and ruling only weakly in favor of the AT&T defendants’ motion to dismiss by allowing room for an amended complaint.
FPS Group Updates IPX Platform Supporting 403(b), 457(b) Advisers
The IPX platform provides RIAs with a more manageable entry point into the complex 403(b) and 457(b) markets by streamlining the requisite custody, trust, trading and administrative services.
Stakeholders in DC Plan Industry Must Come Together for Plan Success
Despite the tremendous progress of the last decade, there remain some “surprisingly different perspectives” among plan sponsors, recordkeepers, and individual participants when it comes to priorities and best practices, according to a new Cerulli report.
Transamerica and Businessolver Link Health and Wealth Recordkeeping
Businessolver President and CEO Jon Shanahan says a new joint solution being rolled out with Transamerica better acknowledges the “intrinsic relationship between wealth and health” by delivering a “one wallet” approach.
Fee and Industry Shifts Mean Retirement Plan Providers Can Play Hardball
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.
Riskalyze, Vestwell Partner on 401(k) Platform
It is an end-to-end solution designed to make is easy for advisers to propose, onboard and serve 401(k) plans.
Retirement Income, Managed Accounts and ‘Shadow Fiduciaries’
New Cerulli research shows the most common reason for which 401(k) plan sponsors offer participants a managed account service is that it can be positioned as a retirement income solution; also considered is the emergence of so-called “shadow fiduciaries.”
Bundled Versus Unbundled DC Plan Arrangements
The proportion of plans that are at least partially bundled fell dramatically from 53.8% in 2016 to 44.0% in 2017, a continuation of the unbundling trend, according to Callan.