The error occurred in October, when the Vanguard 529 Plan switched from age-based portfolios to target-enrollment portfolios, the company said in an email.
Plaintiffs sued BlackRock Institutional Trust Co. in 2017, alleging that the firm engaged in self-dealing and breached its fiduciary duty by including numerous in-house products on the plan menu.
As part of the settlement, Edward Jones will create a new financial adviser council to address diversity issues and senior management will be kept informed of those initiatives.
The program would be modeled after the government’s Thrift Savings Plan for federal employees.
The move follows Schwab’s decision to shut down its corporate political action committee following the Jan. 6 violence at the Capitol.
The TDA Retirement Plan will be closed to new clients at the start of next month, with business instead going to Schwab’s Retirement Network for Advisors, a company spokesperson said in a statement.
The state's defined-contribution retirement plans have $5 billion in assets for 95,000 public employees.
In response to employee feedback, the bank is seeking to improve engagement in underrepresented communities and considering allowing employees greater flexibility to work remotely.
In an industry dominated by men, women said they faced challenges early in their careers to prove themselves.
Special purpose acquisition companies are leveraging celebrity endorsements to drive investor demand, while financial advisers struggle to protect clients from risk.
RPAs need to create or use high-quality content. Ideally, RPAs get their content published or speak at industry events. Though social media is important, we have all learned that it is not necessarily reputable.
Price volatility is not a logical reason to ignore Bitcoin, said panelists during the InvestmentNews Fintech Virtual Summit. Here's why.
Calton & Associates, with 400 reps and advisers, is looking at paying restitution of close to half a million to clients who bought leveraged exchange-traded funds.
Arizona’s Progressive Financial Concepts will affiliate through an LPL office of supervisory jurisdiction, Wealth Consulting Group.
Advisers should embrace social media with an authentic voice that shows their personal side, said marketing strategist April Rudin at the InvestmentNews Virtual Fintech Summit.
A Fidelity study underscores the importance of financial planning, but reveals that the term means different things to people of different ages.
In the face of an unprecedented pandemic, Dan Arnold and James Cracchiolo saw their total pay fall last year.
Eight of nine big defined-contribution record keepers either already offer emergency savings programs or are planning to, according to a Commonwealth report. Two — Prudential and Voya — provide those services as an in-plan option.
The response puts pressure on Chubb CEO Evan Greenberg to sweeten the offer as he seeks to beef up Chubb with Hartford's small-business coverage, fund manager and employee benefits unit.
The Washington firm manages retirement plans for public workers.
