Results for "retirement plan advisers"

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California wins auto-IRA lawsuit

April 2, 2019

California's auto-IRA program, CalSavers, survived a legal challenge that sought to nullify the state's new retirement vehicle, and some experts see the decision as a positive indicator for states that have similar programs and those considering...

401(k) adviser fees for small plans buck compression trend

March 29, 2019

Small 401(k) plans are proving to be an oasis of sorts for financial advisers even as fees for larger plans are declining rapidly.​ Average advisory fees for a $100 million 401(k) plan decreased by 9% in 2018 from the year prior, according...

Longest-running 401(k) fee lawsuit ends in $55 million settlement

March 29, 2019

Parties in the longest-running 401(k) fee lawsuit have agreed to a $55 million settlement, bringing to near conclusion a 12-year case that's one of the best-known of its kind. The lawsuit, Tussey v. ABB, was among the initial tranche of lawsuits...

Why the 4% rule may be irrelevant

March 27, 2019

The 4% retirement withdrawal rule has enjoyed a ubiquitous presence in the world of financial planning ever since William Bengen proposed it in 1994. Mr. Bengen's rule states that individuals should withdraw no more than 4% of their retirement...

Fiduciary duty and the choice between active and passive

March 26, 2019

There is nothing passive about being a fiduciary investment adviser, even when it comes to making decisions about passive investing. The duty of care requires the adviser to proactively exercise the skill, prudence and good judgment of a professional...

What 401(k) record-keeper consolidation means to retirement plan advisers

March 26, 2019

The recent report that Principal Financial is likely buying Wells Fargo's retirement record-keeping division could be a harbinger of massive 401(k) record-keeper consolidation that puts even more assets and participants in the hands of fewer...

Merrill adds to 401(k) fiduciary services

March 25, 2019

Merrill is expanding its roster of fiduciary services available to 401(k) clients, a move that comes amid a broader push by wirehouses and large brokerage firms to change the way they work with smaller retirement plans. Merrill announced Monday...

Levering tech for financial wellness

March 23, 2019

When employees struggle financially, their employers struggle. Recent research on short-haul truck drivers conducted at the University of Pittsburgh shows that when employees' financial stress rises, companies experience a $1.4 million increase...

Blockchain will upend the 401(k) market

March 23, 2019

Blockchain technology is poised to completely upend the retirement market and the way 401(k) advisers do business. The technology, while nascent among record keepers of defined-contribution plans, promises to boost cybersecurity, increase efficiency...

Technology is essential component of growth

March 23, 2019

As the defined-contribution practices of financial advisers grow, so do the challenges. But advisers and their staffs are not properly equipped or trained to deal with many of those challenges. They include running a business rather than only...

BlackRock pivoting to technology could serve as blueprint for other asset managers

March 23, 2019

The retirement asset management business is feeling the pinch. Fred Barstein, founder and CEO of The Retirement Advisor University, recently pointed out that asset managers are seeing margins shrink. The increasing use of managed accounts and...

Cybersecurity poses strain between plan sponsors, record keepers

March 23, 2019

Data security breaches are an unfortunate part of our increasingly digital world. For plan sponsors, this means a responsibility — a fiduciary obligation, some say — to ensure the protection of their employees' personal data. So plan sponsors...

401(k) managed accounts becoming more diverse

March 21, 2019

Some record keepers of defined-contribution retirement plans are diversifying the managed-account products they offer to employers and their employees in a bid to boost uptake and diversify their revenue streams in an environment of fee compression,...

The U.S. retirement system is far too complex

March 21, 2019

For the past decade, the financial services industry has engaged in a heated debate over the appropriate market conduct standard for investment advice. The debate is ratcheted up a notch in the retirement arena, where the Department of Labor...

Fidelity sued again for 'illegal' 401(k) fees

March 19, 2019

Fidelity Investments has been sued by 401(k) participants from three different retirement plans who allege the firm charged an "illegal and undisclosed" fee to certain business partners, resulting in higher costs and reduced retirement savings...

401(k) record keepers competing with advisers on financial wellness

March 19, 2019

Retirement plan advisers increasingly are offering financial wellness services to 401(k) clients to distinguish themselves in a competitive market. There's just one problem: Record keepers are infringing on their turf. Broadly speaking, financial...

Principal-Wells Fargo retirement deal would be among largest ever

March 18, 2019

There would be a new behemoth among record keepers of defined-contribution plans if Principal Financial Group were to follow through on a reported deal to acquire Wells Fargo & Co.'s retirement-plan unit. The deal — which could fetch more...

Wealth managers ignore 401(k) plans at their peril

March 14, 2019

Many wealth managers and financial planners who never intended to focus on the 401(k) or 403(b) market might nevertheless have a few plans. Most are just accommodating an important client and, at best, view the plan as a distraction. At worst,...

Brown University settles 403(b) lawsuit for $3.5 million

March 13, 2019

Brown University has reached a $3.5 million settlement in a lawsuit alleging the school mismanaged its retirement plan and cost employees millions of dollars in savings. Around two dozen prominent colleges and universities have been sued since...

Pairing 401(k) and student loan benefits gains more traction

March 8, 2019

An increasing number of employers are adopting programs that pair 401(k) savings with student loan repayments, as the nation's cascading college debt has some workers deciding between paying off loans or building a retirement nest egg. The Travelers...

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