Results for "massachusetts mutual life insurance co"

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Legg Mason hopes to reverse TDF fortunes with MassMutual deal

May 30, 2018

Legg Mason is making another attempt at breaking into the target-fund market through a partnership with Massachusetts Mutual Life Insurance Co., a move that hints at the challenges asset managers have faced in 401(k) distribution and emerging...

Things are looking up: IBDs soared in 2017

April 21, 2018

After a dismal 2016, the independent broker-dealer industry came back to life in 2017, with the top 25 IBDs collectively reporting $23.2 billion in revenue, a 13.1% annual increase, according to InvestmentNews research. InvestmentNews has been...

Is Fidelity competing with retirement plan advisers?

February 17, 2018

Fidelity Investments​ is the undisputed titan of the retirement marketplace. With $1.64 trillion in defined-contribution-plan assets under its belt, the Boston-based mutual fund company administers more than $1 trillion more in DC-plan assets...

Prudential pivots toward indexed annuities

January 29, 2018

Prudential Financial Inc. Monday announced the launch of its first indexed annuity, the latest variable-annuity carrier to pivot toward the increasingly popular annuity. The variable annuity market has had a rough go in recent years, having...

Technology is streamlining the process of issuing life insurance policies

January 10, 2018

Life insurance is undergoing a renaissance of sorts. The industry is slowly transforming from one entrenched in the old-age archaism of paper and manual processes to one embracing digital technology and artificial intelligence, which benefits...

MetLife cutting annuity pay to some of its former advisers

September 5, 2017

MetLife Inc. is cutting compensation on annuities sold by former advisers who moved to other broker-dealers after MetLife sold its Premier Client Group last year to Massachusetts Mutual Life Insurance Co. And the cut in pay is drastic. According...

American Airlines reaches $22 million settlement in 401(k) self-dealing lawsuit

July 11, 2017

American Airlines Inc. has agreed to settle a 401(k) self-dealing lawsuit for $22 million, one of the largest monetary settlements reached in similar class-action litigation. Plaintiffs brought the suit, Main et al v. American Airlines Inc....

MassMutual to level 401(k) fees for its brokers

March 30, 2017

Massachusetts Mutual Life Insurance Co. is moving to level compensation brokers receive for working with 401(k) plans, a step other large brokerages have taken in response to the Department of Labor's fiduciary rule. The firm, which has more...

New York Life settles 401(k) lawsuit for $3 million

February 16, 2017

New York Life Insurance Co. has agreed to settle a lawsuit alleging the firm engaged in self-dealing in its 401(k) plans for the sum of $3 million. Plaintiffs brought the excessive-fee suit against New York Life in July 2016, seeking relief...

2017 to be year of independent broker-dealer mergers

January 22, 2017

If past is prologue, 2017 should see a steady pace of independent broker-dealer consolidation and mergers and acquisitions. Last year saw transactions involving firms that house thousands of registered reps and financial advisers as the industry...

Outsourced 401(k) fiduciary services emerge after DOL rule

October 3, 2016

With the Labor Department's fiduciary rule upping the ante for many 401(k) advisers and their broker-dealers, providers from around the retirement market are looking at ways to defray fiduciary responsibility, and in some cases, possibly replace...

Morgan Stanley hit with $150 million 401(k) lawsuit for self-dealing and excessive fees

August 19, 2016

Morgan Stanley was sued Friday by a former participant in the company's 401(k) plan for excessive retirement-plan fees and self-dealing on the part of the company, which allegedly enriched itself at the expense of employees' retirement savings...

Neuberger Berman sued for excessive 401(k) fees

August 4, 2016

Neuberger Berman, an investment manager with $246 billion in assets under management, has been sued by a participant in the company's 401(k) plan for alleged self-dealing, whereby the firm offered a high-fee, poorly performing proprietary fund...

Franklin Templeton sued by employees for self-dealing in 401(k) plan

August 1, 2016

Franklin Resources Inc., the asset management firm operating under the name Franklin Templeton Investments, has been sued for self-dealing in its own 401(k), joining a growing list of similarly situated companies targeted by their employees...

Securities America to acquire independent broker-dealer Foothill Securities

July 27, 2016

Securities America Inc. has agreed to acquire rep-owned, independent broker-dealer Foothill Securities Inc., according to two industry sources. In May, Foothill Securities chairman John Burroughs said that Foothill, an adviser-owned firm with...

MoneyGuidePro creator releases DOL fiduciary-focused software

July 21, 2016

PIEtech, the creator of financial planning software MoneyGuidePro, has built a tool to see how well clients' portfolios are aligned with their best interests, including retirement goals and concerns, insurance needs, and health-care costs. With...

Money managers with in-house 401(k) plan options at risk of employee lawsuits: lawyers

July 20, 2016

Asset managers that limit employee retirement plan investment choices to proprietary, in-house mutual funds are putting a legal target on their backs, attorneys said. In the context of a rash of lawsuits by employees against financial services...

Insurance-based broker-dealers plan to use BICE under DOL fiduciary rule

July 7, 2016

Insurance companies with affiliated broker-dealer networks are slowly coming out of their hibernation phase that followed release of the Labor Department's final fiduciary rule in early April, with some announcing plans to comply with portions...

American Century employees sue for excessive 401(k) fees

July 5, 2016

Employees of American Century Companies, Inc., parent of asset management firm American Century Investments, have sued over the firm's 401(k) plan, the latest in a string of lawsuits targeting financial services companies for their own retirement...

Transamerica settles 401(k) excessive-fee lawsuit with its employees for $3.8 million

June 29, 2016

Transamerica Corp. has agreed to settle an excessive-fee lawsuit with participants in its own 401(k) plan for $3.8 million. Plaintiffs in the suit, Lequita Dennard et al v. Transamerica Corp. et al, allege breach of fiduciary duty under the...

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