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Data security concerns force the DC industry to cooperate
The recent Government Accountability Office report and even more recent Department of Labor guidance on cybersecurity hammer home the reality that protecting plan and especially participant data has become a fiduciary responsibility.
PlanMember Financial and Newport Group launch PEP
Newport will serve as the pooled employer plan provider and PlanMember will supply 3(38) fiduciary investment services.
Colorado chooses Empower as DC record keeper
The state's defined-contribution retirement plans have $5 billion in assets for 95,000 public employees.
The critical importance of thought leadership for RPAs
RPAs need to create or use high-quality content. Ideally, RPAs get their content published or speak at industry events. Though social media is important, we have all learned that it is not necessarily reputable.
The 401(k) industry likes emergency savings accounts. Are sponsors ready?
Eight of nine big defined-contribution record keepers either already offer emergency savings programs or are planning to, according to a Commonwealth report. Two — Prudential and Voya — provide those services as an in-plan option.
Voya to serve as record keeper for two new PEPs
Unison Risk Advisors and TAG Advisors are launching pooled employer plans.
The power of wealth, retirement and benefits converging
When combined, the ideas and solutions expand exponentially. The power of three, or the trilogy, is a well-known concept in life, science and religion.
Target-dates with guaranteed income, the new 401(k) pitch
American Century, Prime Capital Investment Advisors, Nationwide and Lincoln Financial Group collaborated, along with others, on the QDIA.
The latest in financial #AdviserTech — February 2021
The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers!
Alight Solutions to go public by merging with SPAC
The deal with Foley Trasimene values Blackstone Group's benefits administrator at about $7.3 billion including debt. Blackstone bought the unit from Aon in 2017.
The future of 401(k) plans, as industry leaders see it
The business is complex and competitive, and it is changing rapidly, industry leaders noted at several InvestmentNews events
What elite RPAs think about PEPs
Pooled employer plans, or PEPs, could dramatically change the 401(k) business, but only if employers decide to adopt them.
What Raymond James’ purchase of NWPS means for 401(k) industry
The firm's acquisition of the record keeper may be a harbinger for other distributors. Does Raymond James see opportunities to monetize participants in retirement plans, especially given the launch of pooled employer plans?
Why some 401(k)s seldom change providers
Record keepers lament the tendency for many plans to stay put, but big 401(k)s are often priced so low that no one bids for them
ETrade to add cryptocurrencies to platform
Firm will start with bitcoin and Ethereum.
Following the money is getting harder for 401(k) plan advisers and sponsors
The trend will likely further fuel industry consolidation.
Retirement plan sponsors’ top criteria for choosing an adviser
Trust is the most important quality vetted in the selection process, but other factors go into the decision.
Private equity adds fuel to 401(k) record-keeper consolidation
Private-equity firms have snapped up a bunch of record keepers, perhaps motivated by access to millions of participants to whom they can sell a variety of financial product
Some retirement plan record keepers resort to aggressive sales tactics with proprietary products
Some retirement plan record keepers resort to aggressive sales tactics with their proprietary products, offering discounted record-keeping services if proprietary funds are used. (More on plan advice: How to choose a plan-sponsor partner to adapt to DOL fiduciary)
