Capital Group, parent of American Funds, and Morningstar’s workplace solutions group have developed a way for retirement plan participants to allocate their target-date fund investments to make them more personalized.
Called Target Date Plus, the service, which employers can use as a qualified default investment alternative, uses a participant’s age, salary, balance and total contribution rate to determine a mix of target-date funds that is more suited to their particular needs. Instead of being put into an American Funds 2060 target-date fund, for example, contributions by a 35-year-old participant might be allocated to a 2060 fund and a 2070 fund if a particular mix of the two offers a more appropriate asset allocation for their circumstances.
Morningstar Investment Management said it has designed a user interface for the service based on what it has learned from serving 1.7 million managed accounts users to enable investors to interact with the service and modify the required data points.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
