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Ted Godbout

By Ted Godbout | 7/26/2023
The Securities and Exchange Commission on July 25 proposed new rules to address what it describes as risks to investors from conflicts of interest associated with the use of predictive data analytics by broker-dealers (BDs) and investment advisers (IAs). The Commission voted 3-2, along party lines... READ MORE
By Ted Godbout | 7/24/2023
Americans say that financial advisors are the most trusted source of financial advice and those who work with one are much more confident, yet a surprisingly few do so, new survey data shows.   According to findings from Northwestern Mutual’s Planning & Progress Study, people who work with an... READ MORE
By Ted Godbout | 7/21/2023
Despite 2022 being a challenging year, the registered investment advisor (RIA) industry continues to be strong, with organic growth and client retention helping to lead the way, according to Schwab Advisor Services’ 2023 RIA Benchmarking Study. While assets under management (AUM) decreased 7.1%... READ MORE
By Ted Godbout | 7/21/2023
New regulatory guidance that would permit bankruptcy trustees to use the Department of Labor’s (DOL) Abandoned Plan Program has been submitted to the White House’s Office of Management and Budget (OMB) for review. The new guidance, which was submitted to the agency on July 19, apparently will be... READ MORE
By Ted Godbout | 7/19/2023
Unpaid caregivers serve a vital function in taking care of a family member or close relative, but new research published by the Employee Benefit Research Institute (EBRI) finds that it can take a toll on retirement preparedness.   Based on findings from the 33rd annual Retirement Confidence Survey... READ MORE
By Ted Godbout | 7/19/2023
While inherited wealth may provide a financial lift for some, the results of a new survey reveal that a surprising number of Americans lack confidence in their ability to manage the funds. In the next 10 years, 15% of adults anticipate receiving an inheritance from a parent, spouse, family member... READ MORE
By Ted Godbout | 7/18/2023
To better support advisors and plan sponsors in helping participants achieve financial security, the Capital Group and Financial Finesse announced that they are expanding a financial wellness benefits program to a broader segment of clients at no additional cost.   The initial program brought... READ MORE
By Ted Godbout | 7/17/2023
For the third year in a row, implementing the Securities and Exchange Commission’s marketing rule for investment advisers remains the No. 1 worry for investment adviser compliance officers, but that concern seems to be easing a bit.   According to the 18th annual Investment Management Compliance... READ MORE
By Ted Godbout | 7/17/2023
New research by the Society of Actuaries (SOA) looks at the challenges that families face—particularly the impact on their retirement plans—when saving for both their retirement and a family member’s college education. Serving as the research arm of the SOA, the SOA Research Institute conducted a... READ MORE
By Ted Godbout | 7/14/2023
With student loan payments set to resume later this year, Schwab Retirement Plan Services (SRPS) has announced new student loan resources available to 401(k) plan participants to help better manage student loan debt.   Through an agreement with student loan and education benefits platform Vault,... READ MORE
By Ted Godbout | 7/14/2023
The nomination of Julie Su to officially serve as U.S. Secretary of Labor is one step closer to being blocked, but at the end of the day it may not necessarily matter.    Su had already faced an extremely narrow path to be confirmed as Labor Secretary by the U.S. Senate, but Sen. Joe Manchin’s (D-... READ MORE
By Ted Godbout | 7/13/2023
As Generation X becomes the country’s next generation on deck to retire, a new report finds that many of those born between 1965 and 1980 are woefully unprepared for retirement.   When looking at median retirement savings levels for Gen X, the bottom half of earners has only a few thousand dollars... READ MORE
By Ted Godbout | 7/12/2023
Talk about what a difference a year makes. This time last year, estimates showed that the 2023 cost-of-living-adjustment (COLA) for Social Security could exceed 10%. But after more than a year’s worth of interest rate increases and cooling inflation, the 2024 estimates have been cut dramatically... READ MORE
By Ted Godbout | 7/11/2023
As a result of the use of an improper reporting threshold, Merrill Lynch has agreed to pay a cumulative $12 million fine to settle charges of failing to report hundreds of Suspicious Activity Reports from 2009 to late 2019. The Securities and Exchange Commission on July 11 announced settlement of... READ MORE
By Ted Godbout | 7/10/2023
While overall deal volume decreased in the second quarter of 2023, there was a significant increase in large RIA investments, according to ECHELON’s second quarter, 2023 RIA M&A Deal Report.   Overall, there were 65 transactions announced in the second quarter, compared to 75 in the first.... READ MORE
By Ted Godbout | 7/7/2023
In a further sign of auto-portability solutions gaining steam, benefits-solutions provider Millennium Trust Company has officially kicked off testing of its new open portability network, the firm announced July 7.   Open to the industry, including other portability networks, the new network is... READ MORE
By Ted Godbout | 7/6/2023
In asking whether a lack of asset diversification in DC retirement plans has been a potential missed opportunity, the findings of a new study suggest the answer is yes. More specifically, the Georgetown Center for Retirement Initiatives (CRI), in conjunction with CEM Benchmarking, set out to... READ MORE
By Ted Godbout | 7/6/2023
There’s a new “e-Guide” for that, courtesy of Annuity Research & Consulting (ARC), which has launched a new educational website to help plan sponsors and advisors explain lifetime income illustrations on participant statements. According to the firm’s announcement, the site will be free until... READ MORE
By Ted Godbout | 7/3/2023
With an increasing number of plan sponsors apparently wanting to retain plan assets post-retirement, retirement income initiatives in 401(k) and other defined contribution (DC) plans have increased in recent years. According to a 2022 Cerulli survey of DC plan consultants, including both... READ MORE
By Ted Godbout | 6/29/2023
Notwithstanding various market challenges, and buyers and sellers coming to the table with differing motivations and expectations, registered investment advisor (RIA) M&A activity has continued at an epic pace and is not expected to slow down. From January 2020 to March 2023, RIA M&A deals... READ MORE