The rule, which was proposed last year and goes into effect next Tuesday, essentially replaces the defunct Obama-era version that regulated investment advice for 401(k)s and rollover IRAs. It provides an exemption for investment advice fiduciaries under the Employee Retirement Income Security Act.
Deborah Fuhr sits down with Greg Friedman, head of ETF Management and Strategy at Fidelity, to discuss the listing of the Fidelity Magellan ETF, the criteria investors should consider when deciding between using an ETF or a mutual fund.
The AI Powered Equity ETF now has more than 37% of its holdings in tech, up 9 percentage points from Nov. 3, and it has halved its industrial exposure to about 3%.
Fink challenged his fellow CEOs to disclose how their companies will operate in a net-zero world and said positioning for the long term means preparing for the realities of climate change.
Record outflows from mutual funds have analysts wondering about the future of giants like American Funds, T. Rowe Price and Dimensional Fund Advisors. While mutual funds still hold more than three times the assets of exchange-traded funds, they registered a record $289 billion in outflows last year, according to Morningstar.
The company, not wanting to be outdone by an identical move in December by its competitor Vanguard, lowered its investment minimum for defined-contribution plans from $100 million to $5 million.
Overall, the retirement savings products bled $6.7 billion, marking the first such instance of negative net sales since Morningstar began tracking them in 1994, the ratings and research firm reported this week.
A fledgling operation is hoping to turn back the clock by introducing gold bonds that are purchased and repaid with actual gold, a common practice about 90 years ago before FDR’s Gold Reserve Act put the kibosh on all the fun.
Revenue sharing fees ultimately make retirement plans more expensive, and funds that include them are disproportionately favored on plan menus, a recent academic paper found.
There are now five companies offering downside protection through buffered ETFs, and two more firms with products in the filing stages
Only three of the most popular ETF launches last year were BlackRock products, and none were from Vanguard or State Street
Vanguard is on track to beat BlackRock in attracting ETF flows for the first time since 2013
Agency says advisers, brokers must apply ‘heightened scrutiny’ to sales of risky ETPs
The funds don't report their holdings daily, in an attempt to shield their strategies from front-running or replication by rivals
The conflicts of interest ranged from 12b-1 fees to cash sweep accounts to alternative investments
The settlement includes $4.4 million in restitutions to harmed customers over the sales of unsuitable VA, mutual fund and 529 products
