Results for "401(k)"

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BlackRock, Wells Fargo reportedly preparing ESG funds for 401(k) plans

June 13, 2018

Doing good and saving for retirement may soon get easier. BlackRock Inc. and Wells Fargo & Co. are developing their first-ever ESG funds for retirement savings plans, seeking to tap into growing demand for ethical investing. Both firms plan...

Labor Department partners with two life insurers on abandoned plans

June 13, 2018

A previous version of this story incorrectly stated that the Labor Department was going to work with the two insurers to find missing retirement plan participants. The Department of Labor will work with Metropolitan Life Insurance Co. and Brighthouse...

LPL in talks to sell 401(k) rollover platform to Global Retirement Partners

June 12, 2018

LPL Financial is in talks to sell Worksite Financial Solutions, a platform that helps advisers service 401(k) rollovers, to Global Retirement Partners, the largest retirement-focused advisory firm in LPL's network. LPL, the largest independent...

SEC best-interest proposal doesn't affect 401(k) brokers

June 12, 2018

When it comes to big news, it doesn't get much bigger than the last few months. First, the 5th Circuit Court of Appeals threw out the Department of Labor fiduciary rule; then a month later, the Securities and Exchange Commission issued its best-interest...

Should 401(k) advisers limit their roster of record keepers?

June 11, 2018

All retirement plan advisers face an important and lingering question: How many record keepers should I work with? There are clear advantages to having a short roster of "preferred" or "approved" record-keeper partners, such as ease, efficiency...

How advisers can navigate ESG investing in 401(k) plans

June 11, 2018

Despite three attempts in the last four years by the Department of Labor to clarify if, when and how environmental, social and governance (ESG) factors can be used in the investment due-diligence process for retirement plans, advisers are still...

Advisers can learn a lesson from Costco

May 31, 2018

Financial advisers — and plan sponsors — could help investors the most by taking a page from Costco: Offer fewer choices at lower cost. The takeaway: Providing lots of options isn't in the best interests of most investors, according to a...

Wells Fargo struggles to attract 401(k) business in wake of banking scandals

May 15, 2018

Wells Fargo & Co.'s retirement plan business has suffered following a string of negative stories related to operations within some units of the broader company, according to 401(k) advisers who use Wells Fargo products and who have had conversations...

Why 401(k) advisers should heed TPA consolidation

June 6, 2018

Third-party administrators have been in the spotlight following a string of recent acquisitions, and retirement plan advisers should take note. TPAs, which provide administrative services to defined-contribution plans, have been getting more...

Wells Fargo wouldn't be the first to push proprietary products on 401(k) plan participants

April 27, 2018

The disclosure of an alleged Labor Department investigation of Wells Fargo sales practices — including those in its retirement-plan services division — is sure to raise a few eyebrows, but should this sort of thing really be a revelation...

401(k) advisers, is your value proposition even valuable?

June 6, 2018

If you talk to any marketing consultant, one of the top things they bring up is having a value proposition. This is commonly known as your "elevator pitch." Basically, if you're at a cocktail party, how do you describe what you do to people?...

Retirement outlook for millennials

April 13, 2018

And now for something different. Although I spend most of my time writing and speaking about retirement income issues, sometimes I get the chance to address young workers at the beginning of their careers, as I did recently as part of National...

Northwestern University beats Jerry Schlichter 403(b) lawsuit

May 29, 2018

Northwestern University has become the second college to beat back allegations of retirement-plan mismanagement, prevailing in a lawsuit brought by prominent plaintiffs' attorney Jerry Schlichter. The lawsuit, Divane et al v. Northwestern University...

Retirement plan sponsors tread lightly with capital preservation

May 29, 2018

In providing capital preservation options for investment menus, some defined contribution plan executives have wound up in the crosshairs of participants' lawsuits alleging fiduciary breaches of the Employee Retirement Income Security Act. Some...

Labor Department says ESG investments aren't always `prudent'

April 24, 2018

The Trump administration unveiled guidance aimed at the burgeoning socially responsible investment industry that left some investors scratching their heads. The Department of Labor, which oversees retirement-plan funds, published guidelines...

New York state creates voluntary retirement savings program

April 2, 2018

New York state became the latest state to officially endorse a voluntary retirement savings program for private-sector workers with the passage of the state budget over the weekend. The New York State Secure Choice Savings Program is contained...

401(k) record-keeper consolidation is about to heat up

April 26, 2018

Though there have been a few recent high-profile 401(k) record-keeper acquisitions — think Transamerica's purchase of Mercer's defined-contribution business and Blackstone's acquisition of Aon Hewitt's — there has been a lull in the consolidation....

401(k) lawsuits being brought more aggressively against retirement plan advisers

April 17, 2018

Retirement plan advisers are increasingly being drawn into 401(k) lawsuits, as litigation creeps down market and plaintiffs' lawyers test out new legal theories to ensnare advisers, according to a panel of litigation experts speaking Monday...

3 insights on the Financial Engines-Edelman combination and how it might affect you

May 3, 2018

On Monday, Financial Engines announced that it was being taken private by the respected private equity firm Hellman & Friedman for $3 billion in cash, a 30% premium over the pre-announcement closing price. Financial Engines will merge with Edelman...

401(k) plans are trifecta of confusion

March 14, 2018

The three major stakeholders in 401(k) plans — plan sponsors, record-keepers and the plan participants themselves — are often miles apart in their views of the plans and the positions of other stakeholders. That is the finding of research...

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