Displaying 13 results
Prudential closes jumbo pension risk transfer transaction with Shell
The financial services giant is taking on $4.9 billion in pension obligations covering more than 20,000 retirees.
Prudential collected life insurance premiums, later told claimants they were ineligible
The insurer has settled with the Department of Labor; the policies in question were part of employer-sponsored insurance where workers had opted for supplemental coverage.
TIAA adds industry veterans to retirement solutions team
TIAA announced the hiring of Shamila Rajaratnam from the Vanguard Group and Jim Mullery from Prudential to round out its retirement solutions leadership team.
Insurers talk big, spend small with diverse asset management firms
The largest American insurance companies have uneven track records with diversity when it comes to selecting asset managers.
To honor Black adviser pioneers, keep growing their ranks
Let’s honor Thorvald McGregor, Lilla St. John and other Black pioneers by encouraging and supporting their contemporary counterparts.
What Creative Planning’s deal for Lockton’s retirement unit means for RPAs
The transaction marks the first time a top-five RIA has acquired a top-five retirement plan adviser firm, which could send Creative Planning's rivals scrambling to find larger RPAs.
What Ascensus purchase of Newport Group means for advisers
Last week’s announced purchase of Newport Group by Ascensus comes on the heels of Empower’s purchases of MassMutual’s and Prudential’s record-keeping divisions.
Prudential reorganizes retirement business
After striking a deal to sell a large part of its retirement business to Empower, the company is creating one unit, Prudential Retirement Strategies, to serve institutional and individual customers.
Plaintiffs make a splash in SeaWorld 401(k) lawsuit
The class action calls out the plan's fees for investments, record keeping and financial advice.
What Empower’s purchase of Pru retirement business means for advisers
Empower has distanced itself from its other competitors; the only one that matters is Fidelity, which is bigger and more profitable because of its ability to cross-sell wealth management services to participants as well as offer proprietary products.
Coalition calls for retirement security task force
Key retirement industry groups urge President Biden to put in place a coordinated federal approach to the crisis.
Empower’s $3.55 billion deal with Prudential makes the 401(k) world a lot smaller
Empower is already the second-biggest U.S. plan provider by number of participants, behind Fidelity. The deal will add $314 billion in assets among 4,300 plans, boosting Empower's size to $1.4 trillion among 71,000 plans.
Wall Streeters slammed for poaching
After losing a number of brokers to big boys on Wall Street, David Lerner went to the mat on two arbitration cases.
