The activist investor reportedly is pushing Principal to focus more on its wealth management operations and less on the life insurance business.
Nico Marais will stay on as CEO of the $603 billion business after the sale to GTCR and Reverence Capital Partners, while there will be fresh faces on the board.
Savers who invest in individual funds outside of their target-dates are generally better off not because of superior investment acumens – they’re just better at putting money into their accounts.
Ther debate over doubling the federal minimum wage pits economic principles against politics. From a payroll perspective, financial services is generally not expected to be impacted by a minimum wage hike, but the economy at large could be.
Abbott Labs and Genentech won dismissals in cases against them, although plaintiffs can refile their complaints. Cerner Corp. and BlackRock have reached settlements in class-action cases against them.
Tech-driven personalization, enhanced user experiences, and ESG served as key themes during InvestmentNews’ inaugural Next Gen Summit.
The broker transferred funds from the investment account of a couple whose portfolio he managed directly into bank accounts he controlled, according to the Department of Justice.
At a Financial Services Committee hearing, House Democrats pressed the leaders of Robinhood and Citadel on whether they're profiting at the expense of retail investors
'Investors harmed by Robinhood’s trading restrictions should be able to argue their case in court, rather than in closed-door proceedings that are too often rigged against claimants,' Warren wrote in a letter to Finra CEO Robert W. Cook.
Despite new figures showing higher savings rates and account balances, just over half of people said they are worried about how the pandemic will affect their financial security in retirement.
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