Advertisement
News Archive
The House of Representatives approved broad-based financial overhaul legislation on June 8 that seeks to repeal major provisions of the Dodd-Frank Act, as well as the Department of Labor’s now-effective fiduciary rule.Congressional Republicans have taken aim at repealing the Dodd-Frank Act since it...
READ MORE
Employers are increasingly determining that financial wellness programs can help provide better financial outcomes for employees, promote higher utilization of employer-sponsored retirement programs, and lead to productivity gains from reduced financial stress, Charles Schwab says in a new report....
READ MORE
The Department of Labor recently issued a set of FAQs on the fiduciary rule. In his most recent blog post, Fred Reish says that one of those “raises some significant issues” for broker-dealers and RIAs.As a general rule, Reish explains, the Best Interest Contract Exemption (BICE) requires only that...
READ MORE
The Labor Department has taken its first step in the review of the fiduciary regulation ordered by President Trump earlier this year.That step was marked by the delivery of a request for information (RFI) on the fiduciary rule to the White House Office of Management and Budget, according to the...
READ MORE
Mergers and acquisitions of registered investment advisor firms realized a record start during the first quarter of 2017, with 44 transactions executed, according to research conducted by DeVoe & Company.That represents a 29% increase from the first quarter of 2016, when 34 deals were...
READ MORE
Cetera Financial Group has announced the upcoming launch of Decipher, new facial recognition software solution to help Cetera-affiliated financial advisors gain far deeper insights into client emotions and behavior patterns regarding financial goals, decisions and concerns.According to a press...
READ MORE
In the wake of the "WannaCry" ransomware attack last month, the Securities and Exchange Commission found a wide range of information security practices, procedures and controls among broker-dealers, investment companies and advisors.The study, conducted by OCIE’s National Examination Program staff...
READ MORE
Retirement plan providers should focus on education, retirement readiness tools, situational guidance and “next-best-step” trigger events to help workers become better prepared for retirement, a new report by Broadridge recommends.In "Transforming the Participant Experience," Broadridge explains...
READ MORE
Legg Mason’s 2017 Global Investment Survey finds that U.S. investors are still substantially influenced by the “shadow” of the 2007-2008 financial crisis and continue to make cautious investment decisions that ultimately could hinder their long-term potential for higher returns.When asked what is...
READ MORE
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 Maryland is...
READ MORE
In “Gone with the Wind,” Scarlett O’Hara draws solace from the security of land. She made plenty of questionable choices, but a recent panel discussion on recordkeeping less liquid investments suggests that maybe she was on to something, at least in that regard.At a June 2 session of the 2017 SPARK...
READ MORE
Ascensus has announced the acquisition of independently owned Kravitz, Inc., a retirement administration firm and cash balance specialist.According to a press release, Kravitz, founded in 1977, designed its first cash balance plan in 1989. The firm offers training, education and support on cash...
READ MORE
There’s strength in numbers, and there are no greater numbers than 8-0 when it comes to the U.S. Supreme Court. That's how the Court ruled in a decision it handed down June 5 that says that religiously affiliated non-profits’ plans are exempt from ERISA even if they were not originally established...
READ MORE
Most of the debate about the fiduciary regulation has been focused on the cost of bad advice. But there’s another side to the issue.Years ago, as a plan fiduciary of another firm’s 401(k) plan, I pressed to hire an independent investment advisor, one who, early on, had positioned himself as an...
READ MORE
The new fiduciary rule will convert many current non-fiduciary advisers into fiduciaries – and while there is not a disclosure requirement for new fiduciary advisers to IRAs, there is for these newly minted fiduciary advisers to plans. Not that, as Fred Reish reminds us, it’s a new requirement.In...
READ MORE
While fee compression is a concern for many broker-dealers and advisors, the more they can demonstrate the value they provide to clients, the less likely they will feel pressured to lower their fees, Envestnet suggests in a new report. In addition to communicating their value proposition to clients...
READ MORE
Automatic investment plan structures around the world “work wonders at keeping investors on track and preventing them from unwise market-timing moves,” according to Morningstar’s 2017 “Mind the Gap” study.Noting that South Korea, Australia and the United States had positive gaps in their variations...
READ MORE
Years in the making, and after months of anticipation, the (delayed) applicability date of the fiduciary regulation arrives this week. Most firms say they are ready, though some have been making some last-minute changes. How will you spend the week?Back in November, a slim plurality (32%) of NAPA...
READ MORE
Plaintiffs have fallen short in their second attempt to convince a federal judge of the merits of their case in an excessive fee class action suit.The original lawsuit, filed in February 2016 by St. Louis-based Schlichter, Bogard & Denton, challenges the $19 billion Chevron plan’s decision to...
READ MORE
Employees have expressed a need for help with managing a variety of financial matters and are open to help from financial professionals, 401(k) providers and their employers, according to Bank of America Merrill Lynch’s annual Workplace Benefits Report.The 2017 report shows that while employees are...
READ MORE
In affirming the June 9 applicability date of the fiduciary regulation, Secretary of Labor Alexander Acosta expressed a desire for the Securities and Exchange Commission to reengage on the issue. It looks like he’s going to get his wish.As part of a call for public comment, new SEC Chairman Jay...
READ MORE
TIAA has announced the launch of TIAA Personal Portfolio, a new online, professionally managed account.The new online service offers a range of investment options, including passive, active and socially responsible, with five different risk levels ranging from conservative to aggressive: Basic: A...
READ MORE
Trump “bump” or not, April was no rainy day for 401(k) balances – and they continued to bloom in May.In fact, 2017 contributions and markets have provided a nice boost to the average 401(k) balance. According to an analysis by the nonpartisan Employee Benefit Research Institute (EBRI), the average...
READ MORE
Mutual of Omaha Retirement Services has launched a new website to supplement its Imagine Retirement Right participant engagement methodology.Imagine Retirement Right is Mutual of Omaha’s patent-pending approach to motivate employees to take an active role in improving their retirement savings. The...
READ MORE
The applicability date is right around the corner – but the conflicts regarding the conflict-of-interest regulation apparently aren’t going away any time soon.In a report described as “a compilation of survey statistics and other data,” the U.S. Chamber of Commerce has pulled together information...
READ MORE
Pages
Most Popular
NAPA's 401(k) Rollover Specialist (k)RS Credential
Recent Comments