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BY Nevin E. Adams, JD 8/23/2017
A new excessive fee suit claims that plan fiduciaries “abdicated” their responsibilities, allowing the plans’ trustee to “…to lard the Plans with high-cost mutual funds.”The most recent excessive fee suit involves both the 401(k) and 403(b) plans of Allina Health System, which have nearly $2.3...
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BY Ted Godbout 8/22/2017
While the RIA market is a growing opportunity, firms continue to struggle to gain access to best practices and to differentiate themselves, regardless of whether or not a deliberate distribution strategy is employed, according to a new study.Noting that the RIA market is unique compared to...
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BY Nevin E. Adams, JD 8/22/2017
Several years back, a group of us were talking about the rising cost of gasoline, when I quite casually mentioned, “Well, at least we’re not having to wait in lines to buy it.” At which point it was obvious from the reaction of the group that I was the only one who had had that particular...
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BY NAPA Net Staff 8/22/2017
Tampa, FL-based investment advisor CapTrust Advisors has joined the CAPTRUST family.The combined organization will now operate in 34 offices nationwide and advise on more than $243 billion in client assets.According to a press release, CapTrust Advisors brings nearly two decades of investment...
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BY NAPA Net Staff 8/21/2017
New research finds a shift in demographic trends that could have significant implications for financial planning.The report from the Center for Retirement Research at Boston College finds that once the whole lifespan of “Mid Boomers” has elapsed, women in that cohort will be found to have spent...
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BY NAPA Net Staff 8/21/2017
A group that generally advocates for large multistate employers has issues with a new fiduciary law in Nevada that it says would have a negative impact on small employers.In a comment letter to Diana Foley, Securities Administrator, Securities Division at the Nevada Office of the Secretary of the...
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BY Ted Godbout 8/21/2017
A recent survey by Pew Charitable Trusts found strong support among small and mid-sized businesses for automatic IRA programs, multiple employer plans (MEPs) and online marketplaces sponsored by states.The survey of more than 1,600 small and medium-sized private-sector businesses (those with five...
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BY NAPA Net Staff 8/21/2017
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has extended until the end of this month the deadline to submit nominations to serve on the ERISA Advisory Council.The agency is soliciting nominations to fill five 3-year vacancies on the Advisory Council on Employee...
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BY NAPA Net Staff 8/21/2017
In 2015, NAPA launched its first-ever "Black Book," a directory of the nation’s leading providers in three key service categories for retirement plan advisors: recordkeepers, DCIOs and BD/RIAs. Last year we added TPAs — and this year, we’re expanding it even further.Since its launch, the NAPA Black...
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BY NAPA Net Staff 8/21/2017
Data from the 401k Averages Book suggests that a plan’s average account balance is one of the key drivers in determining what 401(k) fees a plan sponsor will pay on average.When plan expenses are expressed as percentage of assets, the data shows that the average total plan cost for the smaller...
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