Lincoln Financial Group has launched a qualified default investment alternative, or QDIA, program that it has built with Stadion Money Management.
Known as StoryLine Dynamic, the QDIA program is designed to evolve with plan participants and transition their investments to a more custom, personalized allocation strategy as they near retirement age. Built with Stadion’s technology, the QDIA combines a target-date fund for younger individuals and Stadion’s StoryLine managed account service for participants aged 50 and older.
According to research from Lincoln Financial, more than a third of plan participants report not understanding what investments to choose or how to manage investments as they age, Lincoln said in a press release.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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