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.
Meanwhile, Ameriprise has lured a 28-year veteran advisor away from Merrill in Pennsylvania, and taken over a bank-based investment program from Osaic in Michigan.
The executive order directed at the Department of Labor and the Securities and Exchange Commission also gives an opening to cryptocurrencies and other alternative investments.
New report reveals 95% of affluent investors need to create or update estate plans.
Partnership aims to boost advisor efficiency across its Wealth Lending Network.
The bank's new training initiative aims to add hundreds of advisors as it expands its mass-affluent advice unit, according to Barron's.
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.
