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BY Nevin E. Adams, JD 4/23/2024
It’s been said that a crisis is a terrible thing to waste. But what if it’s a figment of your imagination?
“Crisis” is a word much bandied about these days, most particularly as a label applied to retirement—by foes and fans alike. Indeed, while not so long ago headlines posed that premise as a...
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BY NAPA Net Staff 4/22/2024
Coming just days after announcing that it will be acquiring Vanguard's Individual 401(k), Multiple Participant SEP (Multi-SEP), and SIMPLE IRA plans business, Ascensus announced that Mary Torgerson will join the company as its new head of Small Business Retirement.
As a 20-year leader in financial...
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BY John Iekel 4/22/2024
Spring cleaning is well underway. But that need not be limited to closets, kitchens, and garages—it can serve retirement plans and their administrators too. And one such prime function is addressing missing participants.
Missing participants—former employees whose benefits remain in the plan but...
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BY Ted Godbout 4/22/2024
Wealth management M&A activity “continues to thrive,” with 90 transactions announced during the first quarter of 2024, representing a 20% increase over 2023’s first quarter, according to ECHELON Partners’ 1Q24 RIA M&A Deal Report.
While overall activity was down from the fourth quarter—...
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BY Nevin E. Adams, JD 4/22/2024
A federal court decision in an excessive fee case starts off by noting that “the late, renowned attorney-investor Charlie Munger once quipped that ‘the big money is not in the buying and selling, but in the waiting.’”
In case you were wondering, U.S. District Judge Nathaniel M. Gorton goes on to...
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BY John Sullivan 4/22/2024
The American Retirement Association has confirmed that the Department of Labor (DOL) will release the fiduciary rule, officially called the Retirement Security Rule, on Tuesday.
Acting Secretary of Labor Julie Su will announce the final regulation in a Treaty Room ceremony at 5 p.m.
It was...
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BY Ted Godbout 4/19/2024
As the SEC ramps up its enforcement of the Marketing Rule’s stricter requirements, a newly released risk alert warns advisers that they are still coming up short in several areas.
Published by the SEC’s Division of Examinations, the alert shares preliminary observations concerning compliance...
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BY John Sullivan and Ted Godbout 4/19/2024
The Department of Labor’s (DOL) guidance to permit bankruptcy trustees to use its Abandoned Plans Program has moved off of the OMB dashboard and is back with the department, signaling the review is complete on the long-awaited release.
A summary description of the proposal explains that the...
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BY John Sullivan 4/19/2024
It’s a bit of a surprise. Ted Benna is joining a fintech.
The man who’s (literally) been in the 401(k) space since the beginning is embracing technology in a bid to help close the coverage gap.
For the one or two retirement plan advisors who don’t know, Benna first identified the 401(k) as a...
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BY Nevin E. Adams, JD 4/19/2024
Well, here we are again at the end of another workweek … and yet, just look at what has happened to these guys and gals…
By now those of you in a number of Midwest and southeastern states know that we’re looking at not one, but TWO broods of cicadas (Broods XIX and XIII) … and maybe another...
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