MassMutual is considering selling its retirement plan business, according to a news report Friday by Reuters.
The Massachusetts-based financial services company administers about $175 billion in retirement plan assets, according to the report. MassMutual “no longer considers the capital-intensive servicing of retirement plans core to its business,” the Reuters report noted, citing unnamed sources.
The sources cited by Reuters pegged a possible sale price of about $2 billion.
The explored sale comes less than two years after MassMutual offloaded its OppenheimerFunds investment management business, which it sold to Invesco for $5.7 billion.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
