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Digital record keepers are changing the micro 401(k) market
Many of these newer entrants are pure-play record keepers without an investment management arm. They employ lean, digitally focused operating models and distribute their services directlly to plan sponsors.
Halo adds AIG annuities
The fee-based products will be part of Halo's digital platform, which also offers structured notes, market-linked CDs and buffered ETFs.
Larger RIA firms growing fastest, IAA finds
There are now almost 14,000 RIAs registered with the SEC, and the number of clients they serve grew 17% in 2020, to 60.8 million
Want to be a fiduciary financial planner?
There’s a lot of opportunities to get rich as a fiduciary planner. But is it a career worth pursuing?
Advisers wary of bill putting timeframe on giving from donor-advised funds
The measure in the Senate would create 15- and 50-year limits on amount of time money could remain in DAFs.
Wells Fargo duo managing $580 million joins LPL
Steven Carlsen and Sathya Chey are forming a firm, Arise Private Wealth, in Rolling Hills Estates, California.
CI Financial buys 19th U.S. RIA in 18 months
The Toronto-based aggregator's acquisition of $2.6 billion Radnor Financial Advisors keeps CI on pace for a deal a month in 2021.
UBS will let two-thirds of employees adopt permanent hybrid work
The bank hasn't set a date for returning to the office. Employees can start applying for hybrid work once local pandemic rules allow them to return full-time to the office.
Covid highlights need for long-term care planning
While the pandemic undermined Americans' confidence in nursing homes and home care is preferred, its cost could exceed that of a nursing home.
Plaintiffs accept $5.4 million Transamerica 401(k) settlement
Participants had accused the plan's fiduciaries of using poorly performing investment options.
Finra records $19.8 million profit in 2020
The self-regulator saw a sharp turnaround after taking a $45.9 million loss in 2019. The results were driven, in large part, by the revenue generated from increased trading activity.
State IRA programs ignite a new market for small 401(k) providers
Small businesses are being told to sign up for coverage. Fintech firms and established 401(k) providers see an opportunity to showcase their services as an alternative to state-run programs before what is essentially a brand-new market.
LaSalle St. adds $200 million hybrid
Retirement Planning Specialists, a firm in the Philadelphia suburb of Willow Grove, has four advisers.
Federal retirement plan should consider climate change: GAO
The board overseeing the Thrift Savings Plan, which has 6 million active and retired participants, says that it subscribes to a strict indexing discipline.
Teenagers are trading stocks on their own. Should they?
Fidelity launched a new brokerage account in May for 13- to 17-year-olds, but the larger focus should be on education, not access to the markets.
Culture, client communication help determine firm value
Bad cultures can be clearly identified by things like high employee turnover, an obvious lack of morale or client retention.
Investors not interested in cryptocurrency in retirement plans
The ability to invest in cryptos ranked dead last among features that participants want to see in their retirement plans, Morningstar survey finds.
Rollovers up in 2020, even as 401(k)s try to retain assets
Last year, account holders moved an estimated $623 billion from their 401(k)s to IRAs, up from $565 billion in 2019, a 10% increase, according to a report Tuesday from Limra’s Secure Retirement Institute.
Merrill Lynch duo managing $211 million moves to Stifel
Bill Wade and Reid Berry are opening an office in Brentwood, Tennessee.
Latest thematic ETF homes in on cleaner living
Amplify DTOX fund tracks an index of 78 companies that derive at least 80% of revenues from one of five cleaner living market segments.
