Ted Godbout

Legal Experts See Long Road Ahead for SEC Proposals

By Ted Godbout | 4/24/2018

Leading ERISA legal minds believe the Securities and Exchange Commission’s proposals to establish new standards of conduct for broker-dealers (BDs) and investment advisers (IAs) still need a lot of work.The SEC on April 18 voted 4-1 to release for public comment two new rules and one new piece of... READ MORE

Study Finds Women Financially Confident in Everything But Investing

By Ted Godbout | 4/24/2018

Women are confident in most financial tasks, but when it comes to managing investments, their confidence drops significantly, according to a new study.Conducted in partnership with Age Wave, Merrill Lynch’s study, “Women and Financial Wellness: Beyond the Bottom Line,” finds that women have great... READ MORE

PSCA Study Reveals 4 Emerging 401(k) Trends

By Ted Godbout | 4/23/2018

As Shakespeare’s Antonio states in The Tempest, “what is past is prologue” — that is, all that has happened before can be expected to prompt future events. But that may not be the case when it come to the 401(k) marketplace, says the Plan Sponsor Council of America’s Jack Towarnicky.In a blog post ... READ MORE

Most 401(k) Consultants Support Additional ‘Retirement Tier’

By Ted Godbout | 4/23/2018

New survey results show that a significant majority of 401(k) consultants support additional services in DC plans.Nearly two-thirds (64%) of survey respondents said they believe plans should offer a “separate retirement income tier,” which may include retiree-focused services and products,... READ MORE

IRS Reform Moves Forward in the House

By Ted Godbout | 4/20/2018

As a follow-up to enactment of the Tax Cuts and Jobs Act, the House of Representatives on April 18 approved multiple pieces of legislation intended to overhaul the IRS’s operations and tax administration systems and implement new taxpayer protections.“A new tax code calls for a new tax... READ MORE

Here Are the SEC’s Top 6 Fee and Expense Compliance Issues

By Ted Godbout | 4/20/2018

The SEC’s Office of Compliance Inspections and Examinations (OCIE) has listed the fee and expense compliance issues that were cited most frequently in deficiency letters sent to RIAs.The April 12 OCIE Risk Alert, which reflects issues identified in deficiency letters from more than 1,500 adviser... READ MORE

3 Must-Do Marketing Steps to Stand Out from the Crowd

By Ted Godbout | 4/18/2018

Is your firm still using outdated marketing practices to try to generate new leads? That apparently won’t cut it if you want to survive in today’s market.To increase your reach with potential clients and solidify your brand, it is essential to move beyond outdated marketing efforts by leveraging... READ MORE

Parties of Interest Increasingly Being Tested in Plan Litigation

By Ted Godbout | 4/17/2018

The plaintiff’s bar is getting increasingly creative in bringing parties of interest into DC plan litigation efforts, according to an April 16 panel discussion at the 2018 NAPA 401(k) Summit. “Provocateur” Karen Scheffler, Senior Vice President and Senior ERISA Legal Counsel with AllianceBernstein... READ MORE

The Hex on Generation X: How the ‘Lost Generation’ Found Its Way

By Ted Godbout | 4/17/2018

Among all current generations, Generation Xers have faced some of the toughest cultural and financial headwinds, but they have found a way to get things done, according to 2018 NAPA 401(k) Summit keynote speaker Neil Howe.Howe – a best-selling author and renowned authority on generations in America... READ MORE

Why HSAs Should be Part of Your Retirement Savings Conversation

By Ted Godbout | 4/16/2018

Not convinced yet that health savings accounts should be incorporated in your retirement savings conversation with clients? Panelists at a workshop session on the opening day of the 2018 NAPA 401(k) Summit sought to dispel any reluctance about doing so.Serving as the “provocateur,” Ryan Tiernan,... READ MORE

Enacting RESA Key to Fostering Retirement Savings

By Ted Godbout | 4/13/2018

Enactment of the Retirement Enhancement and Savings Act (RESA) would be an important step in encouraging employers to offer DC plans and to expand access to various retirement savings options, panelists at a Capitol Hill retirement policy forum suggested this week. The April 11 forum, sponsored by... READ MORE

Enacting RESA Key to Fostering Retirement Savings Options, Panelists Say

By Ted Godbout | 4/13/2018

Tax Regulations Subject to New Scrutiny Under Agency Agreement

By Ted Godbout | 4/13/2018

Major proposed tax regulations by the Treasury Department will be subject to a new layer of review in the future, potentially affecting the drafting of retirement-based regulations.Under the terms of an April 11 Memorandum of Agreement between the Treasury Department and the Office of Management... READ MORE

Under Pressure to Reduce Fees, Passively Managed TDFs Finding Favor

By Ted Godbout | 4/11/2018

Potentially fueled by the desires of plan sponsors to reduce fees, there continues to be a move toward passively managed target date funds, according to an analysis by Mercer.In its “Target Date Funds – Highlights and Trends, 2017 Survey Update,” the firm notes that passively managed TDFs continued... READ MORE

Investors Considering Alternative Investments Amid Market Volatility

By Ted Godbout | 4/10/2018

Recent market volatility and doubts about how long the bull market will last have increased demand for alternative investments strategies, according to a recent survey of institutional investors.Based on responses from more than 400 institutional investors and family offices, the latest Context... READ MORE

Nearly 1 in 4 Advisors Switched Firms in the Past 5 Years

By Ted Godbout | 4/10/2018

Today’s financial services landscape looks far different than it did five years ago, with regulatory shifts, industry consolidation and firms exiting the broker protocol. But movement among advisors still continues, according to new survey results from Fidelity.Findings from the latest Advisor... READ MORE

New York Takes Aim at Active Share Disclosures

By Ted Godbout | 4/9/2018

Following an industry-wide investigation of mutual fund disclosures and fees, New York State’s Attorney General reached agreement with several large mutual fund firms to make information relating to their actively managed equity funds readily accessible and is calling on others to follow suit.... READ MORE

Social Media Usage by Advisors ‘Critical’ for Gaining New Clients, Survey Finds

By Ted Godbout | 4/5/2018

New survey results suggest a clear success rate by advisors who use social media for marketing, building relationships and obtaining new clients, compared to those who don’t use any platforms.The fifth edition of Putnam Investments’ Social Advisor Study found that 86% of those using social media... READ MORE

Individual Account Ownership Key Differentiator in Net Worth

By Ted Godbout | 4/4/2018

Not only do individual account assets make up a large portion of the financial assets of those who own them, but those with individual accounts have significantly higher net worth levels than those without them, according to new research by the Employee Benefit Research Institute.Based on an... READ MORE

New York State Enters Private Retirement Savings Push

By Ted Godbout | 4/3/2018

Following in the footsteps of several other states, the Empire State is moving forward with its own voluntary retirement savings program for employees who are not offered a plan through their employer.At a March 30 press conference, Gov. Andrew Cuomo (D) announced that he had reached an agreement... READ MORE

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