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BY NAPA Net Staff 7/12/2017
Platform consolidation has re-emerged as the top initiative for managed account providers, according to a new study by Cerulli Associates.Cerulli’s “U.S. Managed Accounts 2017: Convergence and Its Implications” report found that more than half (59.6%) of those surveyed identified platform...
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BY NAPA Net Staff 7/12/2017
Yet another piece of legislation is being readied to repeal the fiduciary regulation.This particular bill has been crafted by Rep. Ann Wagner (R-MO), no stranger to legislative efforts to roll back the fiduciary regulation. She introduced legislation to repeal the fiduciary regulation in 2015. The...
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BY John Carl 7/12/2017
The ERISA consultants at the Learning Center Resource Desk, which is available through Columbia Threadneedle Investments, 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...
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BY Ted Godbout 7/12/2017
Employees are increasingly looking to their employers for financial support and believe that employers also have a responsibility for their health and well-being.What’s most interesting about that statement is that a higher percentage of employers agree with it than employees. In fact, the percent...
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BY Ted Godbout 7/11/2017
Despite last year’s positive market conditions and relatively upbeat investors, overall satisfaction among financial advisors with their firms declined last year and the drop is highest among top producers, J.D. Power warns in a new report.According to the firm's 2017 U.S. Financial Advisor...
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BY Ted Godbout 7/11/2017
Automatic enrollment is the single most important feature an employer can adopt for Millennials and new hires to participate in a company’s DC plan, according to a new study from Wells Fargo.Based on an analysis of four million people who participate in 401(k) plans provided by the firm, Wells...
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BY Nevin E. Adams, JD 7/11/2017
Automatic enrollment has long been touted – and proven – to be an effective way to overcome retirement savings inertia in 401(k) plans. But these days automatic enrollment plan design seems to be suffering from its own inertia.For all the good press and positive results that automatic enrollment...
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BY Nevin E. Adams, JD 7/11/2017
American Airlines has come to terms with participant-plaintiffs in an excessive fee lawsuit.The airline – and its former investment management subsidiary American Beacon – have agreed to a $22 million settlement (Main v. Am. Airlines, Inc., N.D. Tex., No. 4:16-cv-00473-O, motion for preliminary...
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BY Ted Godbout 7/10/2017
Regardless of income level, more than 60% of respondents in a new survey by MassMutual agree that they are behind when it comes to preparing for retirement, and many expressed a need for more education about retirement savings and personal financial management.The overall survey results show...
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BY NAPA Net Staff 7/10/2017
The Labor Department’s recent Request for Information (RFI) about the fiduciary regulation indicate the issues of greatest interest to the DOL. Fred Reish looks at two issues concerning the Best Interest Contract Exemption (BICE) in that RFI.In his most recent (54th, but who’s counting) blog post,...
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