Results for "403(b) plans"

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Captrust, prominent 401(k) advice firm, ramps up its wealth management business

September 17, 2018

Captrust Financial Advisors is a powerhouse in the realm of retirement plan advisers. However, the firm, which has $278 billion in client assets under advisement, is shifting to retail rather than institutional clients to drive its next phase...

401(k) adviser disclosures need an important update

September 17, 2018

A fiduciary serves a vital role in society. In the most basic form, a fiduciary is expected to make dispassionate decisions in the sole interest of the less informed. To serve in the role requires the fiduciary to embrace the twin duties of...

House committee passes open MEP bill

September 14, 2018

The House Ways and Means Committee passed a retirement savings bill Thursday that seeks to expand access to workplace retirement plans. The Family Savings Act of 2018, introduced by Rep. Mike Kelly, R-Pa., was approved in a 21-14 vote. Perhaps...

Tax Reform 2.0 adds to momentum for open MEPs

September 11, 2018

The House of Representatives is building on recent momentum to enact a popular retirement-security measure seeking to make it easier for small businesses to offer workplace savings plans. Rep. Kevin Brady, R-Texas, chairman of the House Ways...

How to keep your 401(k) clients out of court

September 10, 2018

While 401(k) lawsuits show no sign of letting up, the man at the forefront of class-action retirement plan litigation foresees a day when this will change. "Ultimately, it may be that 401(k) cases end because [retirement plan] sponsors change...

A market sell-off could mean more 401(k) lawsuits

September 10, 2018

The current bull market is nearly 10 years old. Unemployment is low in many industries, there are more 401(k) millionaires than ever before and wage growth is looking up. Anyone saving in a 401(k) is likely doing pretty well right now. However,...

Trump administration hypocrisy on retirement security

September 6, 2018

Is President Donald J. Trump a hypocrite when it comes to retirement security? His actions certainly suggest so. On Aug. 31, Mr. Trump signed an executive order meant to strengthen retirement security by expanding access to workplace retirement...

Open MEPs would be game-changer for 401(k) advisers

September 4, 2018

The president inched open multiple employer plans a step closer to reality Friday when he signed an executive order directing government agencies to make it easier for small employers to offer these retirement plans. If the Labor and Treasury...

Fidelity breaks through $2 trillion in retirement assets

August 28, 2018

Fidelity Investments became the first retirement-plan record keeper to amass $2 trillion in assets on its platform, bolstered by record sales numbers over the past year and a surging stock market. Defined-contribution assets — including those...

LPL lets more advisers do fiduciary 401(k) business

August 28, 2018

LPL Financial has relaxed some of the internal qualifications necessary to service 401(k) plans in an advisory capacity on its corporate RIA, effectively permitting more advisers to service plans as a fiduciary. LPL, the nation's largest independent...

The biggest obstacle to America's retirement security

August 28, 2018

Despite what we hear from uninformed politicians, conflicted lobbyists, the pandering mass media and most of the 401(k) industry, the biggest obstacle to solving the retirement crisis is the lack of engagement among the senior management at...

401(k) advisers see student loan benefits as next 'evolution'

August 24, 2018

Increasing student loan debt has drawn the attention of retirement plan advisers interested in finding ways to couple 401(k) plans and student loan repayment programs. A young employee may not be able to save for retirement while paying down...

Are 401(k) adviser aggregators the new 'wirehouses' for elite retirement plan advisers?

August 16, 2018

The death of traditional wirehouses that's predicted periodically by industry experts is greatly exaggerated. Wirehouse advisers — those housed in the wealth management divisions of Merrill Lynch, Morgan Stanley, UBS and Wells Fargo — stay...

Deutsche Bank settles 401(k) self-dealing lawsuit for $21.9 million

August 15, 2018

Deutsche Bank has reached a $21.9 million settlement in a lawsuit alleging the investment bank enriched itself at the expense of its employees by loading its company 401(k) plan with proprietary funds. Deutsche's settlement, which still needs...

Why you should still take the fiduciary high ground on 401(k) rollovers

August 14, 2018

Only in Washington, some might say, can you find a regulation that for all intents and purposes is dead and buried yet still lives on. The Fifth Circuit Court of Appeals issued its mandate to vacate the Department of Labor fiduciary rule in...

DOL fiduciary rule death leaves 401(k) advisers in legal 'grey area' with rollovers

August 9, 2018

It's no secret that the broad financial industry despised the Department of Labor fiduciary rule. The regulation, which lived a short while before dying in court, upended the status quo with respect to retirement savers, cracking down on brokers'...

Citigroup reaches $6.9 million settlement in 401(k) lawsuit

August 6, 2018

Citigroup Inc. has reached a $6.9 million settlement with plaintiffs in a more than decade old lawsuit alleging the financial services firm stuffed its retirement plan with expensive in-house investments, thereby enriching the company at the...

401(k) robo Guideline tries to woo advisers with new service

August 6, 2018

Guideline Inc., one of several upstart companies trying to woo small 401(k) plans by pitching their relatively low costs and technology, has launched a product that targets retirement plan advisers. Guideline, founded roughly a year and a half...

Fidelity's zero-cost funds raise issues for 401(k) advisers

August 2, 2018

Fidelity Investments is making 401(k) advisers' lives a little more complicated. The Boston-based behemoth dropped some eye-popping news Wednesday: as of Friday, it will begin offering two index mutual funds with a price tag of 0.00%. Yes, funds...

3 ways advisers should prepare for ESG conversations with 401(k) clients

August 2, 2018

Retirement plan advisers likely won't know when environmental, social and governance investing — also known as sustainable investing and impact investing — factors will be of interest to clients. That's why they need to develop a plan in...

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