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Ted Godbout
By Ted Godbout | 12/15/2023
Wealth management firm Osaic announced that it has entered into a definitive agreement to acquire Lincoln Financial’s wealth management business, including all ownership interests in the Lincoln subsidiary entities comprising that business.
The transaction will include the sale to Osaic of Lincoln...
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By Ted Godbout | 12/15/2023
As the impact of unpaid family caregiving takes a toll on the ability to save for retirement, newly introduced legislation seeks to alleviate some of that stress.
Reps. Claudia Tenney (R-NY) and Chris Pappas (D-NH) on Dec. 13 introduced the Expanding Access to Retirement Savings for Caregivers Act...
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By Ted Godbout | 12/13/2023
Despite ongoing workforce challenges, a panel of retirement industry experts are confident that by 2026 more small companies will offer a workplace retirement plan and more employees will participate.
This is according to Transamerica’s latest installment in the Prescience 2026 series, which is a...
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By Ted Godbout | 12/12/2023
American workers are benefiting from higher savings account rates, a rebounding equity market and a strong employment market, but economic and financial conditions are making it hard for many to manage day-to-day finances, a new study finds.
One thing that’s making it hard is inflation, which is...
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By Ted Godbout | 12/12/2023
Final regulations updating the existing procedures concerning administrative exemptions from the prohibited transaction provisions of ERISA, the Internal Revenue Code and the Federal Employees’ Retirement System could be released any day now.
The White House’s Office of Management and Budget (OMB...
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By Ted Godbout | 12/8/2023
Despite widespread industry and congressional opposition, the Securities and Exchange Commission (SEC) apparently has not given up on pursuing its proposal to require open-end funds to use “swing pricing” and require a daily “hard close” for relevant funds.
According to the SEC’s newly released...
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By Ted Godbout | 12/8/2023
Proposed guidance implementing the SECURE 2.0 Act’s provision providing an exemption for certain automatic portability transactions has moved one step closer to being publicly released.
The Department of Labor on Dec. 5 submitted to the White House Office of Management and Budget for review a...
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By Ted Godbout | 12/7/2023
While institutional investors are decidedly bullish on bonds, private equity and private debt, what speaks volumes about their mindset heading into 2024 is the degree to which they are worried about the geopolitical landscape.
According to Natixis Investment Managers’ annual survey of large...
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By Ted Godbout | 12/7/2023
With talent development top of mind for RIA firms, an annual benchmarking study finds that many are casting a wider net to recruit new candidates, as well as adjusting compensation packages to help align staff with firm goals.
That was one of the key takeaways from Schwab Advisor Services’ newly...
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By Ted Godbout | 12/6/2023
In a positive sign that lawmakers are committed to fixing several errors contained in the SECURE 2.0 Act, the House and Senate have just released a draft technical corrections bill, including changes to allow catch-up contributions and provide parity for Starter 401(k)s championed by the American...
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By Ted Godbout | 12/4/2023
A key theme that has emerged from Alight’s annual “hot topics” survey is that employers need more guidance on key provisions in the SECURE 2.0 Act before fully embracing them.
In looking at changes employers intend to make to their retirement and financial wellbeing plans in the coming year, the...
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By Ted Godbout | 11/30/2023
The ranking Republican member of the Senate Health, Education, Labor and Pensions (HELP) Committee has taken aim at the Department of Labor’s (DOL) proposed changes to the Qualified Professional Asset Manager (QPAM) exemption.
In a Nov. 29 letter to Acting Labor Secretary Julie Su, Sen. Bill...
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By Ted Godbout | 11/29/2023
Even though challenges remain, new research finds a hint of optimism going into the new year, when Americans were asked what steps they are likely to take in 2024 as to their overall savings and financial picture.
In fact, findings from Voya’s Q4 Retirement Report based on the firm’s Financial...
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By Ted Godbout | 11/22/2023
The self-regulatory organization has filed with the Securities and Exchange Commission (SEC) a proposed rule change allowing broker-dealers to provide projections of performance in institutional communications and specified communications to qualified purchasers.
More specifically, the proposal (...
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By Ted Godbout | 11/20/2023
The chair of the House committee with jurisdiction over ERISA issues was not happy with the Department of Labor’s (DOL) recent decision to deny a request to extend the comment period for the proposed rule to amend the definition of an investment advice fiduciary.
In a Nov. 17 letter to Acting...
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By Ted Godbout | 11/20/2023
While contribution levels have remained consistent, a troubling trend is that many individuals increasingly have been tapping their retirement savings through hardship withdrawals or loans.
This is according to the latest data from Fidelity Investments’ Q3 2023 retirement analysis, which shows...
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By Ted Godbout | 11/17/2023
To better understand how people make retirement savings decisions, Goldman Sachs Asset Management (GSAM) recently collaborated with behavioral finance research firm Syntoniq to evaluate the factors that may influence Americans’ retirement savings tendencies.
In the resulting analysis, released as...
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By Ted Godbout | 11/16/2023
The Securities and Exchange Commission (SEC) in fiscal year 2023 obtained orders for $4.9 billion in financial remedies, the second highest amount in SEC history, after the record-setting financial remedies ordered in FY 2022, the commission announced Nov. 14.
The financial remedies comprised...
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By Ted Godbout | 11/15/2023
It’s been a couple of fast-moving days for the Department of Labor’s (DOL) proposal to amend the definition of investment advice fiduciary, as the House GOP has stepped up efforts to block the DOL from implementing its proposal, while the department has now denied a request to extend the comment...
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By Ted Godbout | 11/14/2023
The SECURE 2.0 Act’s creation of an online searchable lost and found database at the Department of Labor (DOL) to help American workers find lost retirement savings benefits has moved one step closer to becoming a reality.
The Technology Modernization Fund (TMF)—which invests in technology...
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