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Invesco sued for 'indiscriminately' loading 401(k) plan with in-house funds

June 4, 2018

Invesco has been sued for allegedly stacking its 401(k) plan with proprietary investments, joining the ranks of more than 20 asset managers who have had to defend against similar claims of mismanagement by employees seeking to claw back lost...

Cost-cutting takes precedence in competitive defined-contribution environment

March 23, 2018

U.S. target-date fund managers are continuing to find ways to cut costs amid heightened fee scrutiny from plan executives and consultants, increased competition among managers, and a desire among managers to help improve participants' retirement...

Full list of 2018 Lipper Fund Awards winners

February 27, 2018

The Thomson Reuters Lipper Fund Awards winners have been announced. Lipper measures the winners by their risk-adjusted returns over multiple periods. Award winners are rewarded for consistency over time, including the top 3-year, 5-year and...

Team with $800M in assets leaves Wells Fargo FiNet for Raymond James

December 14, 2017

A four-adviser team in Sanford, N.C., managing $800 million has switched affiliations from Wells Fargo FiNet to the independent channel of Raymond James. Operating as the Normann Financial Group (NFG), the eight-person team held about $750 million...

Wells Fargo sued, again, for using in-house funds in 401(k) plan

November 21, 2017

Just as Wells Fargo & Co. escaped from the jaws of one 401(k) lawsuit over in-house funds, it's now ensnared in another. In a rare move, a federal judge dismissed a lawsuit against the company in May alleging breach of fiduciary duty for self-dealing,...

American Airlines reaches $22 million settlement in 401(k) self-dealing lawsuit

July 11, 2017

American Airlines Inc. has agreed to settle a 401(k) self-dealing lawsuit for $22 million, one of the largest monetary settlements reached in similar class-action litigation. Plaintiffs brought the suit, Main et al v. American Airlines Inc....

Fund manager MFS sued for self-dealing in its 401(k) plans

July 10, 2017

MFS Investment Management has been sued for self-dealing in its company 401(k) plans, becoming the latest fund firm to be targeted for stocking its retirement plan primarily with proprietary investments. The plaintiff in the lawsuit, Velazquez...

The full list of 2017 Lipper Fund Awards winners

March 23, 2017

The Thomson Reuters Lipper Fund Awards winners have been announced. Lipper measures the winners by their risk-adjusted returns over multiple periods. Award winners are rewarded for consistency over time, including the top 3-year, 5-year and...

Money managers with in-house 401(k) plan options at risk of employee lawsuits: lawyers

July 20, 2016

Asset managers that limit employee retirement plan investment choices to proprietary, in-house mutual funds are putting a legal target on their backs, attorneys said. In the context of a rash of lawsuits by employees against financial services...

New York Life sued by employees claiming excessive 401(k) fees

July 20, 2016

New York Life Insurance Co. is the newest member to the ever-growing list of asset managers and retirement plan providers being sued by their employees for fiduciary breach in the company 401(k) plan. Current participants in two New York Life...

Separately managed accounts

August 23, 2015

U.S. large-cap equity Product 2Q return 1-year return 3-year return 5-year return 5-year std dev 5-year Sharpe ratio Assets ($M) Manager Location Edgewood Management - Large Cap Growth Equity* 3.78% 12.17% 22.27% 22.33% 14.17% 1.57 $12,163.6...

Take a page from active managers to get clients past the pack mentality

May 5, 2015

It's human nature to follow the pack, but for your investor clients, joining the pack might do more harm than good. It could mean they're jumping in and out of the market at the wrong times, causing irreparable damage to their long-term returns....

Star fund managers fading as active management loses luster

April 11, 2015

The Hotchkis & Wiley Small Cap Value Fund has returned 35% a year since the bull market began in 2009, the top-performing U.S. stock fund during the period. Never heard of James Miles and David Green, the fund's managers? That's no surprise....

Point-Counterpoint: In the battle between active and passive management, which style wins?

April 9, 2015

Which method reigns supreme in the battle of active investing versus passive investing? Well, that depends on market conditions and a host of variables. The debate was reignited Tuesday among a group of experts on InvestmentNews' webcast “Point-Counterpoint:...

2015 Lipper Awards: Trophy winners

March 31, 2015

Management Company Name Ticker Symbol Classification Name Full Fund Name Toll-Free Number GuideStone Funds GEDYX Corporate Debt A-Rated Funds GuideStone Extended-Duration Bond Fund, Institutional 888-984-8433 America First Capital Management,...

Optimism abounds for financial advice industry in 2015

January 5, 2015

This year looks to be rosy for advisory firms — if you believe both the pundits and advisers themselves. "I am bullishly optimistic on the wealth management business," said adviser JJ Burns, founder of JJ Burns & Co. in Melville, New York....

3 traits the best investment cultures all share

November 13, 2014

If you don't think culture matters, take a look at the team-first San Francisco Giants, who recently won their third World Series in five years. Sure, the Giants have a few big name players, but their run of championships is defined by a roster...

BloombergBlack honcho John Michel comes full circle with new gig

October 12, 2014

The man behind Bloomberg LP's ill-fated foray into wealth management is back. John Michel found himself out on the street in July 2013, when Bloomberg pulled the plug on its fledgling online wealth management platform, BloombergBlack. Having...

MFS Names $438 billion investment chief Roberge as co-CEO

September 9, 2014

MFS Investment Management, a Boston-based money manager owned by Canada's Sun Life Financial Inc. (SLF), said Michael Roberge will become co-chief executive officer of the firm as of Jan. 1. Mr. Roberge, who oversaw more than $438 billion as...

State Street expanding adviser-facing salesforce in mutual fund push

May 28, 2014

State Street Corp. is tapping wirehouse expertise as it works to expand its reach with advisers beyond its characteristic benchmark trackers, including the first and most heavily traded exchange-traded fund on the market. The bank's asset management...

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