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Mickey Mouse collector bucks ‘luxury’ trend
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
Uniform 401(k) disclosure urged
401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.
Investments as 401(k) defaults floated
The Department of Labor has proposed that investments be allowed as default options in 401(k) plans.
RIAs gaining in market for small 401(k)s
Registered investment advisers are the fastest-growing distribution channel for mutual-fund-based small-business 401(k)s. Starting from a small base, they are adding assets at the rate of about 14% a year, according to Boston-based Financial Research Corp.
Third wife prevails over adult kids in estate suit
In a case that married dry-as-dust estate-planning issues with “Dallas”-like squabbling among wealthy family members, a Texas court has decided that King Ranch heir B.K. Johnson had all his faculties when he drew up his last will and that his widow and third wife didn’t manipulate him into excluding his children.
Where there’s no will, there is a way
CHICAGO — Financial advisers are crafting new strategies to convince clients to complete their wills and estate plans.
Employers continue to close, freeze plans
Two-thirds of defined benefit pension sponsors have either closed their plans to new hires or have frozen such pensions for all participants in the last two years.
CFA Institute faces trademark battle in India
A long-running trademark battle is threatening to derail the expansion of the CFA Institute in what has become one of the fastest-growing markets for financial planning professionals.
End pensions for congressional felons
With all due respect to President John F. Kennedy, it is time to ask what our country can…
Social Security adds adviser info to site
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
401(k) Co. and payroll service partner
The Online 401(k) announced today it is partnering with Expedition Payroll, which will allow the company to offer its clients more comprehensive payroll systems.
Savings-minded superhero wins Emmys
Public-service spots starring “Savingsman” and his canine companion "401k-9" won three Emmy awards.
Postnups becoming ‘new’ prenups
Postnuptial agreements are gaining popularity as an estate-planning tool, and some hedge funds and private-equity firms have asked their top executives to sign them to protect their companies in case of a messy divorce, according to attorneys and financial advisers.
ETF giant launches 401(k) plan invasion
PHILADELPHIA — With help from Barclays Global Investors, a California 401(k) record keeper has created a new platform intended to break the mutual fund stranglehold on the 401(k) market.
401(k) record keepers launch CIKR
An association has been formed to educate and advocate about issues relevant to 401(k) independent record keepers.
Auto-enrollment eyed for federal workers
A retirement savings plan that covers more than 3.7 million federal workers may take a page from an increasing number of corporate 401(k) plan sponsors and institute automatic enrollment.
Trade groups facing off over stable-value funds
WASHINGTON — The Investment Company Institute last week fought back against the life insurance industry’s attempt to get stable-value funds included as 401(k) default investment options.
Life cycle portfolios catching on in variable products
CHICAGO — Life cycle fever seems to be spreading from 401(k) plans to variable annuities. At ING Variable Annuities, for instance, assets in LifeStyle portfolios — which were introduced as ING-managed subaccounts in mid-2004 — reached $8 billion at the end of April, up from more than $4 billion at the end of 2005.
New 401(k) platform features iShares
A new 401(k) plan featuring iShares ETFs from Barclays Global Investors is now available.
Gearing up for more 401(k) fee disclosure
As the Department of Labor considers improving fee disclosure to retirement plan participants, some vendors and advisers are racing to offer more information to 401(k) participants, while most are content to wait for a directive.
