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NAPA Net Daily

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A New Look at the Investment Habits of Affluent Versus Non-affluent Investors

BY Sean Murray 11/26/2012

New research from Wells Fargo details the differences in the savings and spending habits of affluent investors (those with assets in excess of $250,000) and those with less than $250,000 in savings. Here are some of the key findings of the firm’s Affluent Retirement Survey: • Most affluent... READ MORE

Fiscal Cliff is Affecting the Market

BY NAPA Net Staff 11/26/2012

Though the market rebounded last week, investors pulled out of equities, according to a Lipper report for the week ending Nov. 21. It may have been the threat of the impending fiscal cliff that caused the largest weekly outflow of money from mutual funds and ETFs since late July. On the other hand... READ MORE

In Case You Missed It...

BY NAPA Net Staff 11/26/2012

Last Wednesday’s NAPA Net Daily included two noteworthy stories. If you missed that issue because you were in a rush to get to Grandma’s house, the stories described:• Ascensus’ acquisition of ExpertPlan; and• additional time for ING to divest its U.S. holdings under the terms of a deal it made... READ MORE

BY Fred Barstein 11/21/2012

Thanksgiving has always been my favorite holiday — initially because I liked watching too many football games, eating too much turkey and doing nothing without feeling guilty about overindulging. Later it took on a different meaning — a time for me to reflect on what I’m grateful for.I’m grateful... READ MORE

Acquisition Bug Bites Ascensus

BY Fred Barstein 11/21/2012

Ascensus will purchase ExpertPlan, 401kWire has reported, significantly boosting its number of plans under management from about 25,000 to over 40,000 and making it one of the largest providers in the DC industry. There are only a few providers that boast more than 40,000 plans, including John... READ MORE

ING Gets Extension on Sale of U.S. Holdings

BY Fred Barstein 11/21/2012

The Wall Street Journal has reported that ING has been given more time (subscription required) to sell its U.S. groups as part of a deal worked out with the European Commission, the European Union's executive arm. When ING took the Dutch equivalent of TARP money in 2008, they agreed to divest some... READ MORE

Case of the Week: When Participant Fee Disclosures Change

BY NAPA Net Staff 11/21/2012

By John CarlThe ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs and qualified retirement plans. A recent call with an advisor in Maryland is representative of a... READ MORE

Plan Sponsors’ Satisfaction with Providers Declines

BY Rick Meigs 11/20/2012

From a plan sponsor’s perspective, which plan providers are doing the best job? A large number of respondents to the just-released 2012 PLANSPONSOR Defined Contribution Survey indicated a decline in satisfaction with their 401(k) providers. Overall satisfaction is down across 22 of 23 categories of... READ MORE

Plan Advisors Warned to Expect Greater Scrutiny and Enforcement by Regulators

BY NAPA Net Staff 11/20/2012

Emboldened by the certainty of four more years, the Obama administration in general and EBSA in particular are expected to extend and more vigorously enforce the agenda and regulations promulgated in the president’s first term. For example, legal experts predict that improper receipt of undisclosed... READ MORE

In Times of Crisis We Turn to Leaders

BY NAPA Net Staff 11/20/2012

Sometimes it feels like the Great Recession was like Hurricane Sandy: devastating, unexpected and with far-reaching effects, especially on retirement savings and policy. In times of crisis, we turn to leaders; and there is no better leadership institution trained to deal with crisis than the... READ MORE

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