Results for "retirement"

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MIT settles class-action suit that snared Fidelity's Abigail Johnson

September 13, 2019

The Massachusetts Institute of Technology has reached a settlement agreement in a class-action lawsuit that alleged a quid pro quo arrangement with Fidelity Investments related to the university's 401(k) program. The agreement comes just days...

Morgan Stanley adding 401(k) participant services to boost wealth business

September 12, 2019

Morgan Stanley Wealth Management is adding more services for 401(k) participants and other workplace clientele as part of a plan to leverage its workplace access to grow its wealth business. The wirehouse brokerage, which has roughly 15,600...

What's driving value in the booming 401(k) adviser M&A market?

September 12, 2019

When asked what drives value for retirement plan practices, Dick Darian, CEO of consulting firm Wise Rhino Group, replied: "Financials, financials, financials." "Like location with real estate, free cash flow or EBITDA has the greatest impact...

2020 Social Security COLA expected to be 1.6%

September 12, 2019

It looks like Social Security benefits will increase by about 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment this year, according to preliminary estimates by The Senior Citizens League, a nonpartisan...

Monitoring 401(k) cross-selling may be next frontier for advisers

September 10, 2019

Trends and developments in the 401(k) market often migrate over to 403(b) plans. Examples include automatic enrollment, which is increasingly popular with plan sponsors, and litigation against plan fiduciaries, which is less popular). Sometimes...

A Social Security workaround for some divorced spouses

September 9, 2019

I stumbled upon another nuanced exception to the myriad Social Security rules that affect divorced clients thanks to the astute question of an InvestmentNews reader. Think of this as the Social Security edition of Trivial Pursuit, a game that...

Abigail Johnson of Fidelity reaches deal to avoid testifying at 401(k) trial

September 6, 2019

Abigail Johnson, chairman and chief executive of Fidelity Investments, will not have to testify at an upcoming trial regarding the Massachusetts Institute of Technology 401(k) plan, marking a stark de-escalation of tensions that had flared in...

Rollovers are all bad! Use only direct transfers

September 5, 2019

"When you throw the ball, three things happen and two of them are bad." — Attributed to Woody Hayes (maybe); could also be Darrell Royal, Bernie Moore, or even Gen. Robert Neyland, no one really knows "When you do a rollover, three things...

Headwinds to annuities in 401(k) plans persist

September 4, 2019

The uptake of annuities in 401(k) plans has been muted and slow. There are several reasons for this state of affairs, such as administrative and legal challenges, which have withstood the industry's push to change the status quo and many advisers'...

Creating time-tested retirement income plans

September 3, 2019

I usually set aside Labor Day for reflection, not just about the official end of summer, but about broader topics that I encounter as a columnist for InvestmentNews. So I was thrilled when two veteran financial advisers I admire — Phil Lubinski...

Happily Ever After: How to Help Retirees Make Lifestyle Choices They'll Love

September 3, 2019

After years of putting money into IRAs, 401ks, and other forms of retirement savings, most retirees want one thing: a chance to finally enjoy that money. Do you know how to help them enjoy that money the right way? We're not talking about the...

Opening an IRA just for alternative investments

August 30, 2019

With market volatility picking up as stocks hover near record highs, at least one platform is hoping to tap into investor fears by offering direct access to alternative investments in retirement accounts. Nashville, Tenn.-based Alto Solutions...

Finra bars former Allstate broker for using employee's IRA money

August 28, 2019

The Financial Industry Regulatory Authority Inc. has barred former Allstate Financial Services representative Kari Ann Buckles for keeping money she had promised to deposit into an IRA account for an employee. [More: Finra department alleges...

Fidelity, Jerry Schlichter trade barbs over Abigail Johnson testimony in 401(k) lawsuit

August 28, 2019

Fidelity Investments and plaintiff's attorney Jerome Schlichter are engaged in a war of words over the potential for Fidelity chairman and CEO Abigail Johnson to appear and testify at an upcoming trial around 401(k) mismanagement.​ The lawsuit...

Hybrid robo looking to offer financial wellness to retirement plan sponsors

August 28, 2019

Financial advisers promote services like "comprehensive financial planning" and "financial wellness" to differentiate themselves from digital advice startups and justify their fees, but now at least one robo-adviser is looking to do the same....

Can HSAs flip the script on retirement health care expenses?

August 28, 2019

Health care costs present a significant retirement risk for many Americans. According to a Fidelity research report, a 65-year-old couple retiring in 2019 can expect to spend roughly $285,000 in health care and other medical expenses throughout...

States aren't great at regulating insurance

August 28, 2019

The U.S. insurance industry offers a test case of decentralized authority: Unlike much of the investment business, which is supervised at the federal level, insurers are almost entirely overseen by the states. [More:​ State regulators urge...

Robo-advisers are dead. Long live digital advisers

August 27, 2019

"Humans solve human problems." So says Steve Wilbourne, CEO of Questis, a financial wellness fintech provider. Mr. Wilbourne, a former adviser, realized that technology alone will not solve the financial problems of the 90 million defined-contribution...

Helping clients crack the code on Social Security

August 27, 2019

Deciding when to retire is very personal and depends on a number of factors, including a clearly defined vision for how and where time and financial resources will be spent, health and health-care insurance options, family longevity, and penalty-free...

AI, blockchain should be high priority for record keepers ​

August 26, 2019

The 401(k) system is one of slowest segments of the financial services industry to embrace modern digital technology. While there are technology vendors working on digitizing part of retirement plan advisers' workflow, many record keepers still...

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