Results for "retirement plan advisers"

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Gucci settles 401(k) lawsuit for $1.2 million

June 25, 2019

Luxury fashion designer Gucci America Inc. has agreed to settle for $1.2 million a lawsuit alleging it mismanaged its 401(k) plan to the detriment of employees' retirement savings. Heather Janda Hay, a former plan participant, alleged Gucci,...

Congress members ask GAO to study fallout from death of DOL fiduciary rule

June 24, 2019

High-level Democrats in the Senate and House of Representatives have asked a congressional watchdog to study the fallout from the now-defunct Department of Labor fiduciary rule, including the regulation's effect on a wide range of business practices...

Positioning can help 401(k) advisers boost sales

June 19, 2019

During his lecture at a recent event for The Retirement Advisor University, UCLA professor Noah Goldstein, a noted author and expert on persuasion, related a story about a friend who consulted for a hot tub company. The company wanted to boost...

Reg BI: How rollovers are changing under the new SEC rules

June 20, 2019

The Securities and Exchange Commission in early June made the most significant changes to investment-advice standards in more than two decades — and rollovers were no exception. Regulation Best Interest imposes a new standard for brokers,...

MFS settles 401(k) lawsuit for $6.9 million

June 17, 2019

Investment manager Massachusetts Financial Services Co. has reached a settlement of nearly $7 million in a lawsuit alleging the company enriched itself at the expense of employees' retirement savings by loading its 401(k) plans with costly,...

401(k) savings rates have stagnated

June 12, 2019

401(k) plan design has by most accounts improved dramatically over the past decade. The number of retirement plans that automatically enroll employees has swelled more than 50%, and roughly a third of those plans automatically increase employees'...

Supreme Court accepts 401(k) case about alternative investments in target-date funds

June 11, 2019

The Supreme Court has agreed to hear a case alleging employer Intel Corp. lost its employees substantial retirement savings by investing a large portion of 401(k) plan assets in risky and high-cost hedge-fund and private-equity investments....

June 11, 2019

BY Greg Iacurci The Supreme Court has agreed to hear a case alleging employer Intel Corp. lost its employees substantial retirement savings by investing a large portion of 401(k) plan assets in risky and high-cost hedge-fund and private-equity...

Target-date fund design may be wrong for retirees

June 17, 2019

Prominent retirement researchers are questioning whether target-date funds, the golden goose of the 401(k) industry, are structured appropriately. TDFs have become the preferred investment for 401(k) savers, now holding about $1.1 trillion in...

Pennsylvania law requires multiple record keepers for 403(b), 457 plans

June 10, 2019

A new law in Pennsylvania will require school districts sponsoring certain retirement plans to use at least four service providers, which advisers say runs counter to best practices and will perpetuate an environment of higher record-keeping...

Retirement plan provider sticks with embattled celeb Tony Robbins

May 31, 2019

Self-help guru Tony Robbins, whose business relationship with $38 billion RIA Creative Planning ended last week following a wave of sexual misconduct allegations, is maintaining his affiliation with $1 billion retirement plan provider America's...

Are record keepers friend or foe to 401(k) advisers?

May 18, 2019

As they introduce new products and services, record keepers of defined-contribution plans are infringing on 401(k) advisers' traditional turf and threaten to lure away clients. Many retirement plan advisers and executives at large retirement-focused...

Why the RIA market is so dynamic right now

May 18, 2019

Although the acquisition of wealth and retirement advisory firms has been occurring for many years, today's climate has become much more dynamic. The market for independent registered investment advisers has become one of the faster growing...

10 largest RIA aggregators focused on defined-contribution plans

May 18, 2019

Firm Total D-C assets 
overseen by network advisers ($B) Number 
of D-C 
advisers* Primary 
contact Business 
model Captrust** $256 102 Rick Shoff Managing director Raleigh, N.C. (215) 499-3361 rick.shoff@captrust.com Acquisition RIA:...

What keeps these executives up at night?

May 18, 2019

David Reich, national president of retirement services, Hub International The regulatory change. When I look at the regulators when they come in and try to drive something, I think they drive value out of the space. ... Also, are we fighting...

Fielding Miller talks recruiting, 401(k) evolution and fumbles

May 18, 2019

CAPTRUST, a Raleigh, N.C.-based advisory firm with more than $300 billion in client assets, is the largest of the so-called RIA aggregators focused on the retirement market. InvestmentNews sat down with CEO Fielding Miller to discuss his business,...

Consolidation alters RPA space

May 18, 2019

As consolidation in the retirement plan adviser space continues to heat up, financial advisers who have carved out a niche pairing retirement plan sponsors with plan providers could begin to see radically altered business dynamics. During a...

RPAs seeking revenue streams

May 18, 2019

Financial advisers who specialize in the retirement-plan market are combatting rampant fee compression by seeking out new revenue streams, primarily in wealth management services. As advisers see their fees squeezed and some of their traditional...

Benefits of cross-selling are too big for RPAs to ignore

May 18, 2019

At the recent InvestmentNews RPA Aggregator Roundtable and think tank, leading advisers almost unanimously agreed that cross-selling wealth management services within their 401(k) and 403(b) plans was a big opportunity. Why the focus and why...

Diversity of thought, plus a culture of inclusion equals a prosperous future

May 18, 2019

The retirement plan adviser industry needs more diversity. But the diversity I am talking about is much more than what, literally speaking, meets the eye. We need diversity of thought, strengthened by a culture of inclusion. When we capitalize...

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