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There apparently is a “disconnect” between financial advisors and their retiree- and near-retiree clients on their retirement readiness, according to the results of a new survey.
The survey, conducted by Escalent on behalf of Allspring Global Investments—which for the first time included advisors—...
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BPAS, a national provider of retirement plans, benefit plans, fund administration and institutional trust services, completed its acquisition of East Meadow, NY-based Creative Plan Designs, Ltd., according to a Feb. 14 announcement by the firm.
The companies had reached an agreement in Dec. 2023 ...
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The parties in an excessive fee suit—that also raised issues regarding an arbitration clause—are “…pleased that after years of hard-fought litigation, they are able to present for preliminary approval a proposed settlement.”
That settlement includes a cash payment of $4,000,000.00 (four million...
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ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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Student loan debt has long been said to be a drag on retirement saving, and a just-released report adds fuel to the fire.
Not only is student loan debt an immediate and long-term financial burden, but it also has a “statistically significant” effect on retirement accounts, says a new issue brief...
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In further broadening its network, LPL Financial Holdings, along with its subsidiaries, announced that it has entered into a definitive agreement to acquire New York-based wealth management holding company Atria Wealth Solutions.
According to the announcement, Atria supports approximately 2,400...
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While the Department of Labor’s Employee Benefits Security Administration (EBSA) recovered $1.435 billion in direct payment to plans, participants and beneficiaries in fiscal year 2023, that number has been trending downward for the past few years.
According to a fact sheet released by EBSA,...
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Recent national surveys reveal that basic financial literacy is low in the United States overall—especially amongst racially underrepresented populations.
According to the U.S. Financial Literacy and Education Commission’s 2021 report, tailoring financial literacy education to specific economic...
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How well do you (think you) know your significant other?
The passage of time—shared experiences and the process of getting to know each other reveals much—and yet I learned something new about my partner of some four decades just last week!
That brought to mind one of the favorite game shows of...
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Although collective investment trust (CIT)-based target-date (TD) products were expected to overtake mutual funds in 2023 and didn’t—that may finally change, according to Sway Research’s 2024 State of the Target-Date Market report.
Though mutual fund series still possess slightly more assets, CITs...
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While workplace retirement plans are becoming an expectation for employees, the results of a new survey show there are multiple areas where savers are seeking additional support.
In fact, according to Vestwell’s annual Savings Industry Report, four emerging trends for 2024 all point to a growing...
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Do savings incentives like tax preferences in defined contribution plans exacerbate the racial saving gap?
It’s the subject of a recent working paper titled Who Benefits from Retirement Saving Incentives in the U.S.? Evidence on Racial Gaps in Retirement Wealth Accumulation from researchers at the...
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The need to begin teaching financial literacy and education at a young age is by now widely acknowledged. According to a recent Schwab survey, nearly two-thirds (63%) of U.S. adults chose financial education as the most important supplementary graduation requirement to math, English, and science,...
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The Securities and Exchange Commission (SEC) on Feb. 9 announced charges against 16 firms for what the Commission described as “widespread and longstanding failures” by the firms and their employees to maintain and preserve electronic communications.
According to the SEC’s announcement, the firms...
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In another of the “what a difference a year makes” cliche, a newly released study finds that, not only did 401(k) balances bounce back from 2022, but other indicators were also trending in the right direction.
Bank of America Retirement and Personal Wealth Solutions’ fourth quarter 2023 ...
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With research showing that 56% of working Americans plan to utilize workplace-offered advice services in 2024,[1] Voya Financial announced the launch of a new dual Qualified Default Investment Alternative (QDIA).
As the latest addition to its suite of advice and guidance solutions, the firm’s new...
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Well, here we are again at the end of yet another workweek …and yet, just look at what has happened to these guys and gals…
According to “dozens of published studies,” people who frequently pick their noses may be at a higher risk of…what?
In Aurora, Colorado, a trash collector had barely...
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An industry-leading benchmark study of non-qualified deferred compensation (NQDC) plans finds that, while recruitment and retention continue to be the top goal for offering NQDC plans, other reasons for doing so are rising quickly in the ranks.
Though these plans are still primarily used to...
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Company veterans Kevin Collins and Francisco Negrón will take on new positions at T. Rowe Price, leading the firm's businesses serving the U.S. intermediary and retirement plan services channels, the firm announced Feb. 7.
The appointments are effective on March 1, 2024.
Collins will become head...
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To “protect Americans’ affordable access to financial markets,” two Republican senators have introduced legislation to block the Securities and Exchange Commission (SEC) from finalizing its proposed rule concerning the use of predictive data analytics by broker-dealers (BDs) and investment advisers...
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Nearly 7 out of 10 (69%) professional fund selectors from some of the largest wealth management firms in the United States agree that active fund management will be essential to investment outperformance in 2024.
This comes after 58% report that the actively managed funds on their platforms...
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On Wednesday, House Ways and Means Committee Ranking Member Richard Neal (D-Mass.) introduced a bill to establish a federal auto-IRA for employers with more than 10 employees who do not currently sponsor a retirement plan.
The Automatic IRA Act of 2024 (H.R.7293) would require employees to be...
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ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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Another of the BlackRock target date fund (TDF) suits comes to a conclusion, the Wall Street Journal takes a peek at managed accounts—and Nevin and Fred ponder the implications for glidepaths.
To date, only one of the dozen or so suits filed against plans that had BlackRock’s LifePath TDFs have...
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Despite the SECURE and SECURE 2.0 acts essentially making it free for small business owners to offer a retirement plan, new research finds that many are still harboring old excuses for not providing one.
The research published by the Employee Benefit Research Institute (EBRI), Center for...
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