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NAPA Net Staff
By NAPA Net Staff | 10/31/2013
PIMCO announced Oct. 30 that it has hired Virginie Maisonneuve as its new global head of equities, replacing Neel Kashkari, who left the company at the beginning of the year to pursue a political career. Maisonneuve was formerly head of global and international equities at London-based global asset...
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By NAPA Net Staff | 10/31/2013
By Mike BushnellWhile calling it her office’s “highest priority” and saying it was near completion, Assistant U.S. Secretary of Labor Phyllis Borzi declined to say on Tuesday exactly when her agency will submit a long-awaited proposal for revising the definition of fiduciary, a rule that could...
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By NAPA Net Staff | 10/30/2013
RidgeWorth Investments' recently released publication, "The Overlooked Potential of Small Cap Growth Funds" suggests adding diversified small cap growth funds to retirement plans for added growth. With most Americans lacking adequate funds for retirement, many tend to favor conservative investments...
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By NAPA Net Staff | 10/30/2013
Fidelity Investments has launched the cheapest lineup of single-industry ETFs in an effort to rival a market dominated by Vanguard Group and BlackRock. The 10 newly released funds, managed by BlackRock, have an annual expense ratio of 0.12%, 2 BPs cheaper than Vanguard’s similar line of ETFs....
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By NAPA Net Staff | 10/28/2013
Last week’s top five most read posts on NAPA Net reflect keen interest in studies revealing that financial education has little impact on behavior, how the redefinition of fiduciary could affect commissioned advisors, six reasons to get into the retirement plan business, guidelines for the use of...
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By NAPA Net Staff | 10/28/2013
Transamerica Retirement Solutions has announced the expansion of their pension sales and distribution team, bringing aboard industry leaders Ty Minnich and Cathy Berg. Ty Minnich joins Transamerica as vice president of not-for-profit institutional markets. Minnich will focus on growing Transamerica...
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By NAPA Net Staff | 10/25/2013
Legg Mason reported a total of $656 billion in assets under management as of Sept. 30, up 2% from June 30 and up 1% from Sept. 30, 2012.Net outflows for the quarter were $1.4 billion, compared with outflows of $8.5 billion during the previous quarter. Fixed-income inflows were $300 million,...
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By NAPA Net Staff | 10/24/2013
Charles Schwab’s efforts to expand its advisory services have evidently paid off, as they experienced a 17% profit increase, bringing them to $290 million for Q3 2013. Walt Bettinger of Charles Schwab explains: “These client results supported double-digit percentage increases in all three of our...
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By NAPA Net Staff | 10/24/2013
Matrix Financial Solutions has released an advisor practice guide in anticipation of the potential impact that the proposed changes to ERISA’s fiduciary rules could have on IRAs. IRAs & the ERISA Fiduciary Rules: Updates and Best Practices for a Changing Regulatory Environment outlines the...
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By NAPA Net Staff | 10/23/2013
Fidelity Investments has launched its “Plan for Life” program, an initiative designed to help workplace retirement plan participants plan for achievement of their retirement goals in a holistic manner tailored to their individual needs. The Plan for Life program takes into account the complex needs...
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By NAPA Net Staff | 10/21/2013
Last week’s top five most-read posts on NAPA Net reflected keen interest in FINRA’s latest report expressing concern over advisor compensation, outsourcing 3(16) duties, resolution of the partial government shutdown, Vanguard’s fund trading restriction for Southwest pilots and the potential delay...
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By NAPA Net Staff | 10/21/2013
Steve McKay replaces Jim Brockelman as sales leader for Putnam’s record keeping business. McKay recently joined Putnam after a stint at The Hartford, which bought MFS’ record keeping division. Brockelman had led John Hancock’s record keeping sales group before his move to Putnam, where he started...
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By NAPA Net Staff | 10/18/2013
OppenheimerFunds has unveiled a new website for advisors featuring practice management resources, an advisor-only discussion forum and fund performance data. With the growing competition for advisors’ attention and business, their goal was to create an innovative and unique user experience that...
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By NAPA Net Staff | 10/17/2013
New York Life Retirement Plan Services will allow its plan sponsors served by LPL affiliated advisors to access LPL’s Worksite Financial Solutions platform. Launched earlier this year, LPL’s worksite platform enables employer-based retirement plan participants to receive individualized financial...
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By NAPA Net Staff | 10/16/2013
Great-West Financial has launched a comprehensive mobile app that allows their participants to access their retirement account information on the go. The app is available to 401(k), 401(a), 403(b) and 457 plan participants who use the www.gwrs.com website to access their retirement account. There...
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By NAPA Net Staff | 10/15/2013
Fund giant American Funds will increase its sales force by 25% over the next six to eight months, building up to a team of 145 from 115. Coupled with the firm’s growth plans is the effort to increase transparency around its investment process by publishing reports about how its portfolio teams are...
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By NAPA Net Staff | 10/15/2013
Franklin Templeton has hired 25-year industry veteran Drew Carrington as Senior VP and head of its Defined Contribution – Institutional group based in San Mateo, CA. Carrington will report to Scott Lee, who leads Franklin Templeton’s team of 15 dedicated U.S. institutional sales and relationship...
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By NAPA Net Staff | 10/14/2013
Last week’s top five most-read posts on NAPA Net reflected keen interest in the possible impact of a debt limit standoff on 401(k) balances, CFPs’ anger over the fee-only controversy, Schwab’s delay of their ETF platform, passive versus active funds, and how to determine whether a business is part...
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By NAPA Net Staff | 10/14/2013
John Hancock Retirement Plan Services recently announced the John Hancock Partnership Program, which will provide plan consultants with a one-time payment to help defray the costs incurred by a plan associated with its transfer or administration. For every new plan that closes between Sept. 16,...
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By NAPA Net Staff | 10/11/2013
A MassMutual national survey of American workers who are eligible to participate in an employer-based DC plan found there is a growing incidence of individuals utilizing social media to learn about retirement and related financial topics. Facebook and LinkedIn were the platforms highlighted,...
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