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Ted Godbout
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....
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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...
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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...
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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...
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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...
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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...
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By Ted Godbout | 6/28/2023
The average 401(k) account balance among men is 50% greater than women's overall ($89,000 vs. $59,000), but this gender imbalance among younger generations apparently is closing.
According to Bank of America’s 2023 Financial Life Benefits Impact Report, Baby Boomer (ages 58-76) and Gen X (ages 43-...
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By Ted Godbout | 6/26/2023
Interest is growing among financial advisors in the use of artificial intelligence (AI), specifically ChatGPT, but many questions about the new technology remain.
The AI chatbot's capabilities include the ability to interface with clients and prospects while analyzing data and drafting memos. To...
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By Ted Godbout | 6/26/2023
Reforming the proxy voting system and increasing oversight of large asset managers are among eight key policy priorities the Republican-led ESG Working Group plans to focus on during the 118th Congress, according to the group’s newly released interim report.
Formed in February by members of the...
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By Ted Godbout | 6/22/2023
The ongoing battle over the use of environmental, social and governance (ESG) factors when making investment decisions for retirement plans continues.
The latest salvo comes from Reps. Andy Barr (R-KY) and Rick Allen (R-GA), who on June 21 reintroduced their Ensuring Sound Guidance (ESG) Act (H....
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By Ted Godbout | 6/21/2023
Fidelity Investments is out with its annual Retiree Health Care Cost Estimate with news of something that hasn’t happened in nearly a decade.
The firm estimates that the amount a 65-year-old retiring today could spend on health care remains the same as last year, due to expected limits to retiree...
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By Ted Godbout | 6/20/2023
Investors grappling with ongoing inflation, high interest rates and an unstable economic environment are considering delaying their retirement plans, according to Nationwide’s eighth annual Advisor Authority.
The survey by the Nationwide Retirement Institute finds that a quarter (25%) of pre-...
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By Ted Godbout | 6/20/2023
An examination of how Americans think about saving, spending and investing finds that the nation faces a wealth paradox, driven by the contrast between how people define wealth for themselves compared to how they define it for others.
When asked to express how much money it takes to be considered...
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By Ted Godbout | 6/15/2023
After months of speculation, the Department of Labor’s newly released Spring 2023 regulatory agenda confirms that a fiduciary rule rewrite could be released later this summer; it also provides other key insight for the department’s regulatory plans for the coming months.
In fact, the fall...
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By Ted Godbout | 6/15/2023
In a nod to plan sponsors that improved plan design and introduced new automatic features despite a volatile economy, Vanguard reveals in its just-released How America Saves report that it saw record highs in participation, deferral rates, and the use of professionally managed allocations in 2022...
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By Ted Godbout | 6/14/2023
Against a backdrop of outstanding student loans and rising consumer debt, only about half of young adults believe they will be able to retire at the age they want, according to the findings in a new survey.
Conducted by Georgetown University, in partnership with Bank of America, the Young Adults...
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By Ted Godbout | 6/13/2023
Legislation that would make it easier for retirement plan sponsors to include annuities as a default option in their defined contribution plans has been reintroduced in the House of Representatives by two key members of Congress.
Reps. Donald Norcross (D-NJ) and Tim Walberg (R-MI) on June 9...
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By Ted Godbout | 6/9/2023
Legislation that seeks to strengthen protections and safeguards from financial predators scamming senior investors out of their savings passed the House of Representatives June 5 by a unanimous voice vote.
With older Americans reportedly losing up to $36 billion[1] each year to scams, the Senior...
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By Ted Godbout | 6/9/2023
The Securities and Exchange Commission (SEC) is expanding the areas it plans to focus on during examinations of advisor compliance with the recently finalized marketing rule.
More specifically, the agency plans to broaden its exam target areas to include testimonials and endorsements, third-party...
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By Ted Godbout | 6/8/2023
Limit spending, work longer, maximize contributions, buy annuities, delay claiming Social Security, buy long-term care insurance, increase equity allocations, or relocate to cheaper housing. These are just some of the messages that retirement savers are bombarded with about how to personally manage...
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