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NAPA Net Staff
By NAPA Net Staff | 10/9/2015
The bidding is apparently over, and private equity firm TA Associates has agreed to acquire the Russell Investments asset management businesses from the London Stock Exchange Group for $1.15 billion in cash.As part of the deal, Reverence Capital Partners will team up with TA Associates and make a “...
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By NAPA Net Staff | 10/8/2015
Social media continues to make inroads with advisors — but there’s still plenty of room to grow.Asked if they had ever acquired a new client or gained a relatively large additional amount of business from an existing client in part attributed to their social media efforts, more than half (57%) of...
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By NAPA Net Staff | 10/8/2015
T. Rowe Price has launched its new Retirement I Funds, a series of target date funds for retirement plans and other institutional investors with lower shareholder servicing costs. The 13 new Retirement I Funds have identical investment strategies to those of the firm’s flagship Retirement Fund...
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By NAPA Net Staff | 10/8/2015
A new industry survey finds a drop in record keeping fees and revenue sharing.The survey noted the growing appeal of record keeping fee structures based on a fixed-dollar amount per plan participant, which were now found among nearly half (47%) of the 113 plans included in the NEPC 2015 Defined...
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By NAPA Net Staff | 10/8/2015
Not one, not two, but three former chairs of the Securities and Exchange Commission (SEC) want the agency they ran to join the effort to set a fiduciary rule. They made their remarks at a TD Ameritrade summit in Washington, D.C. on Oct. 6.Harvey Pitt, Christopher Cox and Mary Schapiro all expressed...
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By NAPA Net Staff | 10/7/2015
For those concerned they won’t have enough to live on in retirement, Fidelity has just raised the bar a little higher.According to Fidelity’s "Retirement Health Care Cost Estimate," a couple, both aged 65 and retiring this year, could expect to spend an estimated $245,000 on health care throughout...
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By NAPA Net Staff | 10/7/2015
A growing number of investors are embracing robo-advisors, but are they committed to the relationship?According to Cogent Reports, the vast majority of near-term adoption of robo-advisors will come not from Millennials but from Gen Xers, the oldest of whom are turning 50 this year. Not only is this...
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By NAPA Net Staff | 10/6/2015
Not getting what you want from your DCIO partners? You’re not alone, according to a new survey.The report, by Ignites Retirement Research, claims that asset managers’ DCIO operations are missing the mark on value-add programs aimed at plan advisors. While 401(k) advisors identified “retirement...
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By NAPA Net Staff | 10/5/2015
In a month that has traditionally been the worst for U.S. stocks, how did average 401(k) balances fare?The S&P 500 lost 2.6% over the month and dropped 6.9% over the past quarter, while the Dow Jones Industrial Average, declined 1.5% over the month and 7.6% over the quarter. However, according...
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By NAPA Net Staff | 10/5/2015
MassMutual announced Oct. 6 that it is launching BeneClick!, a unique, integrated exchange featuring a guidance tool that helps employees prioritize their retirement savings, health care and insurance protection benefits based on their individual life stages and then take action.BeneClick! is being...
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By NAPA Net Staff | 10/5/2015
A new survey finds that 401(k) participants might save more if they had some more information at their disposal.For example, if participants knew that their current contribution rate would replace only 50% of their income in retirement, just over one in four (41%) of them say they would increase...
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By NAPA Net Staff | 10/2/2015
While a strong majority of plan advisors warn against making large-scale investment portfolio changes in the short term due to uncertainty over rising interest rates, a new study from Natixis Global Asset Management highlights just how hard it is to convince DC participants to listen.Natixis...
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By NAPA Net Staff | 10/1/2015
Think administering loans and withdrawals is complicated now? New legislation introduced in the Senate claims to shore up retirement security for women – but it’s got implications for plan design and administration.Senate Health, Education, Labor, and Pensions (HELP) Committee Ranking Member Patty...
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By NAPA Net Staff | 9/30/2015
Do you know an advisor or advisor team who has demonstrated leadership and innovation in workforce management? Here’s your opportunity to recognize them.We’re looking to recognize individuals and teams who have gone beyond the installation of automatic enrollment and qualified default investment...
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By NAPA Net Staff | 9/30/2015
Not that it needed the encouragement, but the Obama administration got some backing for its recent initiative on state-based retirement plans from the Government Accountability Office (GAO).At the request of Senate Health, Education, Labor, and Pensions (HELP) Committee Ranking Member Patty Murray...
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By NAPA Net Staff | 9/29/2015
Just four months after being put up for sale, Ascensus has been bought.
Genstar Capital, a San Francisco-based middle-market private equity firm, and Aquiline Capital Partners, a New York-based private equity firm investing in financial services, have entered into a definitive agreement to acquire...
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By NAPA Net Staff | 9/29/2015
Sen. Elizabeth Warren (D-Mass.) has expressed concerns about conflicts of interest in a study critical of the Labor Department’s fiduciary proposal — and that has forced the resignation of one of its authors.According to a report in The Hill, the left-leaning Brookings Institution has forced one of...
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By NAPA Net Staff | 9/28/2015
MassMutual has teamed up with Envestnet Retirement Solutions, LLC (ERS) to introduce RetireSmartSM Ready Managed Path managed accounts providing personalized, professionally managed investment strategies.Available to MassMutual Retirement Services’ retirement plans with $5 million or more in...
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By NAPA Net Staff | 9/28/2015
The IRS on Sept. 23 released an updated set of instructions for Form 8950, Application for Voluntary Correction Program (VCP) Under the Employee Plans Compliance Resolution System (EPRCS). The IRS revised the form to reflect changes made to EPCRS by Revenue Procedure (Rev. Proc.) 2013-12, Rev....
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By NAPA Net Staff | 9/28/2015
Even if DC plan participants do everything right — start saving early, save sufficient amounts and invest prudently — a new analysis shows that retirement outcomes can vary widely along with financial market ups and downs, even among workers who practice the same saving and investing behaviors.The...
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