Just under one in 25 direct contribution plan participants (3.9%) withdrew money from their accounts in 2019, up from 3.4% the previous year, according to a report from the Investment Company Institute.
Levels of hardship withdrawal activity also remained low (1.9%), according to the report, which tracks contributions, withdrawals, and other activity based on data gathered by DC plan recordkeepers. The data covers more than 30 million participant accounts. The comparable figure for 2018 was 1.6%, the report said, noting that 2.3% of DC plan participants discontinued their contributions during 2019.
DC plan participants’ loan activity in 2019 was slightly lower than the loan activity observed in 2018, with 16.1% of participants having plan loans outstanding, compared with 16.7% at year-end 2018.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
