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NAPA Net Staff
By NAPA Net Staff | 11/6/2015
The Pension Protection Act of 2006 has spurred sweeping adoption of target date funds (TDFs) as qualified default investment alternatives (QDIAs), and TDFs continue to grow within DC plans. For plan fiduciaries, the Department of Labor (DOL) mandates that achieving the best possible outcomes for...
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By NAPA Net Staff | 11/6/2015
With concerns about the final Labor Department fiduciary rule and its potential impact on low- and middle-income families still percolating on Capitol Hill, a bipartisan group of congressmen has outlined a series of legislative principles to help guide those efforts.Reps. Phil Roe (R-Tenn.),...
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By NAPA Net Staff | 11/4/2015
Those third quarter statements were likely a disappointment for many — but October went a long way toward healing the damage for average 401(k) balances.While the average balance of older workers, notably those with 20-29 years of tenure, aged 55-64, slipped just 0.9% in September, that came on top...
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By NAPA Net Staff | 11/4/2015
The DC market is strong and growing on its surface, with positive net sales for the majority of firms surveyed, but considerable turmoil lurking just underneath, according to Hearts & Wallets’ ninth “The State of DCIO Distribution” study. In the first half of 2015, 70% of the 30 asset managers...
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By NAPA Net Staff | 11/4/2015
A new study finds that advisors who are taking advantage of key technologies are noticeably more successful than their peers in several key measures — and are happier with their jobs.According to the Fidelity study, using technology, eAdvisors were able to service 55% more clients than their...
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By NAPA Net Staff | 11/4/2015
Writing about the Department of Labor’s proposed fiduciary standard in NAPA Net the Magazine, Don Trone urges advisors to better define a professional standard of care themselves — before the government does it for them.Calling the DOL's proposed rule a “disaster,” Trone says it was born out of the...
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By NAPA Net Staff | 11/4/2015
NAPA Net is currently pulling together information for its first-ever “Black Book” of key service partners for the retirement plan advisor community.This special issue will be distributed to all NAPA Net the Magazine readers, and we are sure it will be the resource guide for serious retirement plan...
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By NAPA Net Staff | 11/4/2015
The Treasury Department has officially launched its MyRA program on a national basis, hoping to “create a savings habit that will grow,” according to Treasury Secretary Jacob Lew.While the Nov. 4 launch was new, the program is not. Originally unveiled in President Obama’s 2014 State of the Union...
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By NAPA Net Staff | 11/3/2015
BlackRock has launched a new platform aimed at helping advisors close the retirement income gap. According to a Nov. 2 announcement from the firm, the new iRetire™ platform reframes the retirement challenge by providing financial advisors with tools and resources to let investors see where they...
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By NAPA Net Staff | 11/3/2015
Nearly half (48%) of Millennials report the economy most impacts their savings habits, as opposed to their spending or investing habits, and thus far only about a quarter say they have been able to save for retirement.Overall, more than two in five (42%) Americans say the economy most impacts their...
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By NAPA Net Staff | 11/3/2015
They may not have been willing to block the Labor Department’s fiduciary proposal with legislation, but a group of Democratic congressmen are asking for some additional time to comment on the final proposal before it’s final.The request comes in the form of a letter from nearly 50 members of...
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By NAPA Net Staff | 11/2/2015
Alliance Benefit Group Financial Services (ABGFS) has been named a recipient of Fidelity Investments’ inaugural Be Greater® Award. Winners were announced at Fidelity’s Inside Track event in New York City Oct. 29.ABGFS was recognized in the Retirement Advisor or Recordkeeper category, joining RIAs...
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By NAPA Net Staff | 11/2/2015
Plan fiduciaries have been sued for allegedly breaching their ERISA fiduciary duties in shifting allocations in a plan’s custom target-date portfolios to what it characterizes as “risky and high-cost” investments.FINalternatives reports that the lawsuit, filed on Thursday in U.S. District Court in...
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By NAPA Net Staff | 11/2/2015
Do health insurance costs affect what workers save for retirement?With many plans just wrapping up their health care enrollment period, new LIMRA research finds that more than half (59%) agree or strongly agree that what they pay for medical/health insurance benefits directly affects how much they...
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By NAPA Net Staff | 10/30/2015
Think you know why people retire, what they hope to do in retirement, and how current retirees feel about their retirement decision? A new survey calls into question some of that “common wisdom.”The survey, done by Fidelity Investments, in collaboration with the Stanford Center on Longevity, was...
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By NAPA Net Staff | 10/30/2015
The Department of Labor’s proposed fiduciary rule would make many changes. One of them — a change that's central to what constitutes a fiduciary act and who a fiduciary is — is what constitutes a recommendation.And that was one of the topics addressed by panelists in a discussion at the recent...
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By NAPA Net Staff | 10/28/2015
Professionals in the financial services industry can now overcome their compliance fears about social media by enrolling in the Mastering Compliance online course by Sheri Fitts, CEO of ShoeFitts Marketing. A module within the Social Selling for Financial Advisors eCourse, Mastering Compliance is...
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By NAPA Net Staff | 10/28/2015
The U.S. House of Representatives passed legislation Oct. 27 that would block the Department of Labor from finalizing its fiduciary proposal until the Securities and Exchange Commission weighs in. By a 245-to-186 margin, the House passed the Retail Investor Protection Act of 2015 (H.R. 1090), which...
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By NAPA Net Staff | 10/28/2015
The availability of health savings accounts (HSAs) to help fund health care expenses in retirement has long been a selling point for the vehicle, and of interest to advisors — and recent data suggests that those investment dollars are beginning to add up.According to a report by the nonpartisan...
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By NAPA Net Staff | 10/28/2015
Fidelity’s Clearing & Custody division announced Oct. 28 a new relationship with Envestnet Retirement Solutions to offer its new workstation to retirement plan advisors. The desktop workstation will be accessible via single sign-on through Fidelity’s WealthCentral® and Streetscape® platforms,...
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