The enforcement arm of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth alleges that Scotttrade violated the Massachusetts Uniform Securities Act and related regulations by leveraging sales contests that violated the expanded DOL fiduciary rule.
Spencer Williams, from Retirement Clearinghouse, says the findings show the potential to preserve trillions of future retirement savings dollars for retirement plan participants through the widespread adoption of auto portability.
Participants age 50 and older need more personalized advice, advisers say.
The organization has issued a report analyzing what is working in DC plans and how the existing tools can be leveraged further.
Lawmakers requested that the DOL issue an advisory opinion or other appropriate guidance regarding application of ERISA to auto-portability of retirement savings.
The eMoney Advisor platform will be updated with tools designed to help users suggest the right retirement products for clients based on their individual needs and preferences.
Effectively managing income taxes over a lifetime requires a careful balance of a person’s current tax burden with the need to achieve tax diversification for the unknown future.
Fiduciary Benchmarks is planning to launch a series of services in response to the DOL’s conflict of interest rule.
Of this group, 58% obtain professional financial advice.
A new study by the Center for Retirement Research explores the modern state of the individual retirement account and those who invest in it.
If workers could automatically roll their 401(k) plan over to a new employer, the Institute says this could generate an additional $2 trillion in retirement savings.
Many simply do not know enough about them.
Allowing for partial withdrawals is among five tips the investment firm gives.
A report from the 2016 ERISA Advisory Council makes recommendations for facilitating auto-portability, communicating to participants about plan-to-plan transfers, and discussing the transfer of state-run retirement program accounts into ERISA plans.
As implementation of the DOL’s fiduciary rule approaches, advisers may have to choose between remaining in the DC business and pursuing traditional wealth management.
The tool is designed to help advisers seamlessly transition IRAs from commission status to fee based in order to comply with the DOL’s Fiduciary Rule.
Cashouts are the biggest portion of defined contribution retirement plan leakage, but what can be done?
Defined contribution plan participant experience expert expresses real confidence in the industry’s ability to “solve the portability problem.”
The IRS has eased the timeline for investors hoping to avoid taxes and penalties while moving money plan-to-plan or to an individual retirement account.
Most providers expect the new legislation will help them retain assets.