The math doesn’t figure. Cerulli reported Tuesday that the number of advisors grew by just 2,706 in 2022, barely offsetting trainee failures and retirements. Yet over the next decade, almost 110,000 advisors plan to retire, comprising 37.5% of industry headcount and 41.5% of total assets. The... READ MORE

The Department of Labor (DOL) filed two lawsuits against two defunct Maryland companies for failure to remit employer and employee contributions to their 401(k)s. Acting Labor Secretary Julie Su filed a lawsuit on Jan. 8 after an investigation by the Employee Benefits Security Administration (EBSA... READ MORE

Innovation in the retirement plan space is revolutionizing saving and investing, leading to better outcomes and better participant behavior. Target-date funds are no exception, making it easy(ier) for workers to stay the course through market shocks, in particular.  But are some fund companies—and... READ MORE

“I think 2023 was more about the activity in the pending cases and less about new cases filed,” Daniel Aronowitz said when asked about last year's excess fee and performance cases. On Monday, the president of fiduciary liability insurance firm Euclid Fiduciary released his annual analysis of... READ MORE

The benefits of delaying Social Security benefits are by now generally accepted. While not appropriate for everyone, waiting to age 70 (the maximum age allowed) means a 24% increase in benefits versus claiming at age 67 (full retirement age). Add in the fact that benefits are inflation-linked and... READ MORE

While target date funds (TDF) flourish, managed accounts haven’t caught on as a qualified default investment alternative (QDIA), mainly due to higher fees and a struggle by participants to fully realize the benefits of customization. But that will soon change, according to Wilshire, who admittedly... READ MORE

  With an increase in longevity and the demise of corporate pension plans, it is hardly a surprise to note there are more “older” Americans in the workforce, at least when analyzing demographic trends in recent decades. Pew Research Center recently did just that—quantifying how quickly the cohort... READ MORE

Good tidings for Vestwell came just before Christmas with news that the digital retirement plan platform and recordkeeper raised $125 million in Series D funding. The company claimed the size of the round was one of the largest Series D SaaS of the year. A letter-style press release from... READ MORE

The Department of Labor (DOL) announced that the Employee Benefits Security Administration (EBSA) published the unofficial transcripts of its online hearing on the Notice of Proposed Rulemaking, “Retirement Security Rule: Definition of an Investment Advice Fiduciary” and related proposed prohibited... READ MORE