Results for "putnam investments"

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Allianz agrees to settle 401(k) fee lawsuit for $12 million

January 2, 2018

Allianz has agreed to pay $12 million to settle a lawsuit alleging it peppered its company 401(k) plan with dozens of high-cost, in-house funds. Participants in the 401(k) plan originally brought the suit, Urakhchin v. Allianz Asset Management...

House tax chief says he plans to preserve 401(k) pretax limits

November 1, 2017

House Ways and Means Chairman Kevin Brady says he doesn't plan to reduce the pretax contributions American workers can make to 401(k) retirement plans — "unless there's broad agreement" among investment advisers that a different system would...

Retirement-savings advocates to mobilize forces if tax-reform plan cuts benefits

October 31, 2017

On the eve of the release of the House Republican tax-reform proposal, retirement-savings advocates are hoping for the best but preparing to swing into action if the plan is too stringent on curtailing pre-tax contributions to retirement plans....

Fill the Gaps of Special Needs Financial Planning

October 16, 2017

Across the United States, one in five children and adults — 65 million people — will experience a special need or disability during their lifetimes.1 Without assistance from government programs, non-profit organizations or employers, caregivers...

'Rothification' to pay for tax cuts seen as losing momentum, for now

September 27, 2017

Tax incentives to encourage retirement savings appear to be safe for now, but proponents of traditional savings plans are remaining vigilant, as Republicans on Wednesday released the outline that will guide tax reform. The Republican framework...

Tibble v. Edison 401(k) fee-case decision offers 3 lessons

August 22, 2017

Tibble v. Edison, a landmark 401(k)-fee case, is finally nearing its close after 10 years of litigation, following a court order last week that laid to rest the lawsuit's remaining points of contention. The case, the first of its kind to go...

Waddell & Reed latest active fund manager sued for 401(k) self-dealing

June 28, 2017

Waddell & Reed Financial Inc., which sponsors the Waddell & Reed and Ivy-branded investment funds, has been sued for self-dealing in its own 401(k) plan, joining a string of other asset managers to have been targeted recently for similar allegations....

Voya's win in 401(k) fee suit involving Financial Engines bodes well for other record keepers

June 22, 2017

The dismissal of a lawsuit against Voya Financial Inc. for its relationship with 401(k) robo-adviser Financial Engines could be a harbinger of success for other major retirement-plan record keepers locked in similar legal battles. Judge Lorna...

Putnam, Fidelity win respective 401(k) lawsuits

June 20, 2017

Putnam Investments and Fidelity Investments have prevailed in separate legal fights centering on their fiduciary duty to retirement plans, at a time when financial services companies are increasingly being targeted for 401(k) self-dealing. A...

Capital Group, the sponsor of American Funds, sued for self-dealing in its 401(k) plan

June 15, 2017

The recent lawsuit lodged against The Capital Group Companies Inc. for alleged self-dealing in the company's 401(k) plan is one of several similar legal battles being waged with large asset managers, and could prove difficult for plaintiffs...

Will the fiduciary rule shrink the ever-expanding world of share classes?

May 13, 2017

First there was​ little share class A. Then there were little share classes B and C. Faster than you could say, "The Cat in the Hat," there were little share classes I, N, K, F and Y. Now the fund industry is contemplating unleashing an estimated...

Power Financial invests $37 million in Wealthsimple as robo seeks bigger U.S. market share

May 12, 2017

Power Financial, the Canadian parent of Putnam Investments and Great-West Financial, has invested an additional $37 million in Wealthsimple, a Toronto-based robo-adviser that is expanding in the U.S. This additional capital infusion doubles...

Private equity adds fuel to 401(k) record-keeper consolidation

May 11, 2017

Just as 401(k) record keepers cry poverty, claiming there are no profit margins left and fueling consolidation, private equity has jumped in, perhaps seeing value that traditional record keepers are missing. What's causing this consolidation...

Putnam kicks off expanded ESG effort

May 3, 2017

Putnam Investments has hired Katherine Collins to head a new sustainable investing effort that could lead to the introduction of the firm's first standalone ESG funds. In her new role, Ms. Collins will head a team responsible for overseeing...

Judge in Putnam 401(k) suit deals potential setback to plaintiffs using Vanguard as fee benchmark

April 6, 2017

A federal judge has seemingly dealt a blow to plaintiffs bringing claims against financial services companies for excessive retirement plan fees, following a recent ruling in a self-dealing lawsuit involving Putnam Investments' 401(k) plan....

Brokers-dealers move to trim fund offerings as they adjust to DOL rule

March 8, 2017

The Department of Labor's fiduciary rule has led broker-dealers to take stock of the mutual funds they distribute, and the outlook isn't rosy for small investment providers. Many broker-dealers have decided to — or are at least considering...

Putnam merges, liquidates 10 funds

February 9, 2017

Putnam Investments is sending 10 of its funds to the dustbin of history. The Boston-based fund company will liquidate four funds: Strategic Volatility Equity Fund (PSVEX), Asia Pacific Equity Fund (PAPAX), Retirement Income Fund Lifestyle 2...

Advisers finding more social media success

October 13, 2016

Financial advisers are increasingly comfortable tweeting and posting to Facebook and LinkedIn as securities regulators have made their expectations about social media more clear. Advisers are finding success using social sites to cull prospects,...

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...

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