Amid the stock market’s ups and downs in January, 401(k) account holders did their most trading in a year, according to the Alight Solutions 401(k) index, the company said.
The index shows an average of 0.017% of all account balances were traded daily last month, which was the highest level since January 2021.
Last month saw five trading days with above-normal activity, which compares with just three such above-normal trading days in all of 2021.
Alight said that in 13 of the 20 trading days last month, investors favored fixed income over stocks. Inflows during the month headed mainly to stable value funds, bond funds and money market funds, while outflows came from target-date funds, large-cap U.S. equity funds and midcap U.S. equity funds.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
