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Two sponsors settle 401(k) cases, Victoria's Secret owner sued
NEWS RETIREMENT PLANNING NOV 25, 2020
Two sponsors settle 401(k) cases, Victoria's Secret owner sued

A grocery chain is paying $17.5 million in one case, and a pharmaceutical company is shelling out more than $2.5 million in another

By Emile Hallez
Labor Department sends fiduciary rule update to OMB
NEWS RETIREMENT PLANNING NOV 25, 2020
Labor Department sends fiduciary rule update to OMB

Approval may be moot as the new administration could easily quash it

By InvestmentNews
Social Security shortchanged some older workers, survivors
NEWS RETIREMENT PLANNING NOV 25, 2020
Social Security shortchanged some older workers, survivors

Two new audits reveal underpayments to certain groups of beneficiaries

By Mary Beth Franklin
DOL lifetime income rule under fire from lawmaker
NEWS RETIREMENT PLANNING NOV 24, 2020
DOL lifetime income rule under fire from lawmaker

Sen. Richard Neal, D-Mass., criticized the measure for not including an assumption that 401(k) balances appreciate

By Emile Hallez
JPMorgan Chase penalized $250 million for risk management failings
NEWS REGULATION AND LEGISLATION NOV 24, 2020
JPMorgan Chase penalized $250 million for risk management failings

Regulators found that the bank's asset and wealth management businesses lacked controls to avoid conflicts of interest

By InvestmentNews
BlackRock to acquire SMA provider Aperio for $1 billion
NEWS INDUSTRY NEWS NOV 24, 2020
BlackRock to acquire SMA provider Aperio for $1 billion

Aperio manages about $36 billion in separately managed accounts

By Nicole Casperson
CI Financial dominates RIA buyers with its 13th deal of 2020
NEWS RIAS NOV 24, 2020
CI Financial dominates RIA buyers with its 13th deal of 2020

Firm is taking a majority stake in Dallas-based RGT Wealth Advisors, which manages $4.7 billion

By Jeff Benjamin
Back-to-normal rally drives Dow above 30,000 for first time
NEWS EQUITIES NOV 24, 2020
Back-to-normal rally drives Dow above 30,000 for first time

Gains reflect hopes that vaccines and a peaceful presidential transition could give the economy a boost

By Bloomberg
Reported SageView sale heats up already hot RPA M&A market
NEWS RETIREMENT PLANNING NOV 24, 2020
Reported SageView sale heats up already hot RPA M&A market

The potential megadeal will affect the retirement plan adviser business and could lead to further mergers and acquisitions

By Fred Barstein
Janet Yellen at Treasury signals Biden's focus on boosting economy
NEWS REGULATION AND LEGISLATION NOV 24, 2020
Janet Yellen at Treasury signals Biden's focus on boosting economy

As Treasury secretary, the former Federal Reserve chair is expected to support expansionary government spending

By Bloomberg
401(k) advisers busier this year helping with rollovers, distributions
NEWS RETIREMENT PLANNING NOV 23, 2020
401(k) advisers busier this year helping with rollovers, distributions

A recent survey found that advisers are working with participants more than usual amid the pandemic

By Emile Hallez
MAI Capital Management acquires $500 million RIA
NEWS RIAS NOV 23, 2020
MAI Capital Management acquires $500 million RIA

St. Louis-based Greenway Family Office is MAI's second acquisition of 2020

By InvestmentNews
Beacon Pointe acquires $690 million CBD Wealth Management
NEWS RIAS NOV 23, 2020
Beacon Pointe acquires $690 million CBD Wealth Management

Deal is Beacon Pointe's second since taking private equity funding

By Jeff Benjamin
LPL brings on $1 billion Verus Capital Partners
NEWS BROKER DEALERS NOV 23, 2020
LPL brings on $1 billion Verus Capital Partners

The Scottsdale, Arizona, practice, which includes 30 advisers, joins from Securities America

By Jeff Benjamin
60/40 portfolio confounds critics with another big year
NEWS INDUSTRY NEWS NOV 23, 2020
60/40 portfolio confounds critics with another big year

Despite all the doubts, a 60/40 U.S. portfolio is up 13% year-to-date

By Bloomberg
JPMorgan says rebalancing could mean $300 billion exits stocks
NEWS EQUITIES NOV 23, 2020
JPMorgan says rebalancing could mean $300 billion exits stocks

The strong equity performance so far this month means large investors like balanced mutual funds may need to shift money into bonds before year-end

By Bloomberg
Biden's SEC chair likely to take 'hard look' at ESG
NEWS ESG NOV 20, 2020
Biden's SEC chair likely to take 'hard look' at ESG

Democratic member Caroline Crenshaw predicts climate risk will likely be on the agenda at the agency

By Mark Schoeff Jr.
30 years of celebrating the RIA community
NEWS RIAS NOV 20, 2020
30 years of celebrating the RIA community

Financial advisers have delivered for clients during a challenging year, according to Schwab executive Bernie Clark

By Bernie Clark
RPA SageView weighing a sale: sources
NEWS RIAS NOV 20, 2020
RPA SageView weighing a sale: sources

The company, which manages more than $100 billion in retirement plan assets, could attract extremely high bids from private equity firms, sources said

By Emile Hallez
EP Wealth adds $535 million with Harris Financial acquisition
NEWS RIAS NOV 20, 2020
EP Wealth adds $535 million with Harris Financial acquisition

The $9 billion PE-backed acquirer has made 13 deals in three years

By Jeff Benjamin