Results for "retirement plan advisers"

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Franklin Templeton settles 401(k) lawsuit for $14 million

February 20, 2019

Franklin Templeton Investments has agreed to pay roughly $14 million to settle a lawsuit alleging the firm profited at the expense of its employees by loading its 401(k) plan with in-house investments. Plaintiffs in the class-action lawsuit...

Ascensus sells 25 percent stake to private equity firm

February 19, 2019

Ascensus, which administers retirement and college savings plans, has sold a 25% stake to a group of private-equity investors, the firm announced Tuesday. Atlas Merchant Capital leads the investor group, which includes Singapore's sovereign...

Charles Schwab gets most 401(k) claims dismissed

February 13, 2019

A federal judge dismissed most of the claims filed against Charles Schwab Corp. in a lawsuit alleging the firm profited from its 401(k) plan at the expense of employees, but did allow one allegation to move forward. The class-action lawsuit,...

Convergence of retirement planning and employee benefits is here

February 13, 2019

Ten years ago, only a small percentage of financial advisers offered fiduciary advice services, either because their broker-dealer would not allow it or because there was more money in selling commissioned products. Now, more advisers than not...

Average 401(k) balances dropped 10% in fourth quarter, says Fidelity

January 31, 2019

The average 401(k) balance dropped 10%, to $95,600, in the fourth quarter of 2018, down from the record high balance of $106,500 in the third quarter, according to a quarterly analysis from Fidelity Investments. The year-over-year average 401(k)...

How advisers can help 401(k) clients with auto-rollovers

January 23, 2019

Retirement advisers looking to make positive changes in 2019 should resolve to help 401(k) clients arrange for mandatory distributions to rollover IRAs.​ Advisers can help plan sponsors trim their administrative costs, reduce fiduciary risks...

American Century wins 401(k) lawsuit over in-house funds

January 25, 2019

American Century Investments won a class-action lawsuit alleging the asset manager profited from its company 401(k) plan at the expense of employees by loading the retirement plan with in-house funds. Judge Greg Kays of the U.S. District Court...

What type of fiduciary should retirement plan advisers be?

January 22, 2019

For many 401(k) plan advisers, the Department of Labor fiduciary rule was a nonevent. The question for advisers was not whether they would act as a fiduciary, but what kind: a 3(21) or 3(38) fiduciary? Now that the DOL rule has been vacated,...

401(k) plans boost company match due to tax reform, labor market

January 28, 2019

Tax savings that businesses have realized as a result of tax reform and the competitive labor market are leading employers to increase the amount of money they give employees in the form of a 401(k) match, according to retirement plan advisers...

HSAs give asset managers distribution outlet for in-house funds

January 30, 2019

Health savings accounts are getting more popular, and it's no surprise asset managers and retirement plan record keepers are debuting products to jump on the bandwagon. Voya Financial Inc. launched its first HSA platform last week, following...

401(k) plan sponsors laser-focused on fees

January 18, 2019

Fees charged in defined-contribution plans rank as plan sponsors' top area of focus in 2019, according to a new report, as employers continue to worry that high fees for functions like administration and investment management could expose them...

Have 403(b) lawsuits hit a wall? Fifth university wins dismissal

January 9, 2019

Losses continue to mount for university employees suing their schools over allegedly excessive retirement-plan fees. Georgetown University became the fifth defendant to successfully beat back such claims in court. Roughly two dozen lawsuits...

Hub-Sheridan Road latest deal to heat up M&A among 401(k) advice firms

January 10, 2019

Acquisitions of financial advisory firms focused on the retirement-plan market appear to be gaining momentum. A handful of recent deals involving large 401(k)-focused firms and a more varied group of buyers have led some experts to believe that...

Why in the world isn't the 401(k) industry entirely digital?

September 26, 2018

As a byproduct of InvestmentNews' recent acquisition, I just hit a major life milestone. I experienced my first 401(k) account rollover, and oh boy, was it eye-opening. As a technology reporter, I'm much more familiar with fintech companies...

3 ways to add extra value for 401(k) clients

January 2, 2019

Retirement plan advisers increasingly need to stand out from the pack to win clients. This may seem obvious, but most advisers don't seem to be doing much to differentiate themselves. To get advisers started on the right path, here is a short...

Market downturn could accelerate 401(k) record-keeper consolidation

January 2, 2019

Plan advisers would be wise to watch the 401(k) record-keeper market closely as it enters its next phase of consolidation, which may begin soon. As plan advisers look to cut back on the number of their provider partners, picking on the wrong...

Why MEPs aren't right for all 401(k) plan sponsors

January 2, 2019

Multiple-employer plans, or MEPs, are all the rage these days, and some variation of the offering is expected to become law in the near future. MEPs allow smaller companies to partner up, thus becoming "larger" plans, and are marketed as providing...

DOL set to give 401(k) advisers' businesses a boost

December 1, 2018

The Department of Labor is expanding what retirement plan advisers can offer small-business clients courtesy of new rules the agency proposed around multiple-employer plans. Although the regulations are narrower than some industry members had...

Plan advisers should offer what 401(k) sponsors really want

December 1, 2018

As outlined in my recent column, "Here's how the 401(k) world will evolve over the next three years," the adviser-sold 401(k) and 403(b) markets will experience rapid change in the next three to five years. So what are the key drivers, and how...

5 steps to an effective financial wellness program

December 1, 2018

Typical Americans get the vast majority of their financial needs taken care of at work. Think about it. They get their income, health, dental, vision, life and disability insurances; health savings accounts; medical and dependent-care flex plans;...

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