Results for "401(k)"

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401(k) fund fees continue to fall

June 19, 2018

Fees for equity, hybrid and bond mutual funds held in 401(k) plans continued their long-term decline in 2017, according to a new report published by the Investment Company Institute, a trade group representing fund managers. The average asset-weighted...

Fidelity cuts target-date fund fees

June 15, 2018

Fidelity Investments, which has been cutting prices to compete with low-cost rivals such as Vanguard Group and Charles Schwab Corp., is trimming fees on the target-date index funds it sells to retirement plans and rolling out new offerings that...

DOL fiduciary rule on brink of death as key deadline passes

June 14, 2018

The Department of Labor fiduciary rule is teetering on the brink of death after the Justice Department, which was defending the rule in court, appears to have let a key deadline pass to keep the case alive. On March 15, the 5th Circuit Court...

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...

SEC rule proposal doesn't include 401(k) sponsors in 'best interest' advice

June 13, 2018

The Securities and Exchange Commission is trying to bridge the gap in investment advice standards for brokers and financial advisers, but the rift remains wide in one particular area: advice to 401(k) plan sponsors. The SEC proposed Regulation...

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...

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...

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...

Defined-contribution plan loan and hardship distribution rules eased

June 8, 2018

401(k)s are for retirement, but some clients who are strapped for cash need access now for any number of reasons. Advisers can help by knowing the latest tax rules. Defined-contribution plans can offer loans and hardship distributions. While...

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...

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?...

Allianz and Vestwell partner on 401(k) distribution

June 5, 2018

Allianz Life Insurance Co. of North America has forged a sales partnership with Vestwell designed to distribute the 401(k) robo-adviser's services through thousands of independent retirement-plan advisers. Allianz, which offers insurance products...

Invesco sued for 'indiscriminately' loading 401(k) plan with in-house funds

June 4, 2018

Invesco has been sued for allegedly stacking its 401(k) plan with proprietary investments, joining the ranks of more than 20 asset managers who have had to defend against similar claims of mismanagement by employees seeking to claw back lost...

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...

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...

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...

$14 billion hybrid Sheridan Road staying with LPL, launching own RIA

May 25, 2018

Sheridan Road Financial, an advisory firm overseeing roughly $14 billion, has decided to leave Independent Financial Partners, a mega hybrid registered investment adviser, to start up its own RIA. At the same time, Sheridan Road, which has a...

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