Questions surround Fidelity's stance on its adviser-sold 401(k) platform

Fidelity Investments says it still isn't offering third-party target date funds on its adviser-sold 401(k) platform. Not all fund companies signing on to the platform understand that to be the case, however.
MAR 09, 2010
By  Bloomberg
Fidelity Investments says it still isn't offering third-party target date funds on its adviser-sold 401(k) platform. Not all fund companies signing on to the platform understand that to be the case, however. Last Wednesday, after months of discussions, John Hancock Funds LLC received a contract from Fidelity stating that the company would start offering John Hancock's target date funds through Fidelity's adviser-sold 401(k) platform. “The contract is open-ended,” said Gene Huxhold, senior managing director at Hancock. “They could elect to not allow our target date funds on, but they didn't give any indication that they weren't going to include them.” But Fidelity executives said that, at this point, it is only contemplating offering third-party target date funds on its adviser-sold 401(k) platform. “But we have no plans to do so immediately,” said Michael Shamrell, a spokesman for the firm. He declined to comment on specific contracts with fund companies.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave