RBC Wealth Management, Transamerica and Ascensus have introduced a new pooled plan retirement solution for owners of small and midsize businesses.
Called the RBC Group Retirement Plan, it will be open to existing and start-up 401(k) plans and will be distributed solely through RBC Wealth Management, which will act as its Section 3(38) investment fiduciary. Ascensus’ FuturePlan will serve as the program’s third-party administrator and Section 3(16) plan administrator; Transamerica will be the record keeper.
The RBC GRP also includes a proprietary 100-point payroll data integrity check designed to prevent most common plan errors flagged in Department of Labor and IRS audits, RBC said in a press release.
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
