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UBS will let two-thirds of employees adopt permanent hybrid work
The bank hasn't set a date for returning to the office. Employees can start applying for hybrid work once local pandemic rules allow them to return full-time to the office.
Covid highlights need for long-term care planning
While the pandemic undermined Americans' confidence in nursing homes and home care is preferred, its cost could exceed that of a nursing home.
Plaintiffs accept $5.4 million Transamerica 401(k) settlement
Participants had accused the plan's fiduciaries of using poorly performing investment options.
Finra records $19.8 million profit in 2020
The self-regulator saw a sharp turnaround after taking a $45.9 million loss in 2019. The results were driven, in large part, by the revenue generated from increased trading activity.
State IRA programs ignite a new market for small 401(k) providers
Small businesses are being told to sign up for coverage. Fintech firms and established 401(k) providers see an opportunity to showcase their services as an alternative to state-run programs before what is essentially a brand-new market.
LaSalle St. adds $200 million hybrid
Retirement Planning Specialists, a firm in the Philadelphia suburb of Willow Grove, has four advisers.
Federal retirement plan should consider climate change: GAO
The board overseeing the Thrift Savings Plan, which has 6 million active and retired participants, says that it subscribes to a strict indexing discipline.
Teenagers are trading stocks on their own. Should they?
Fidelity launched a new brokerage account in May for 13- to 17-year-olds, but the larger focus should be on education, not access to the markets.
Culture, client communication help determine firm value
Bad cultures can be clearly identified by things like high employee turnover, an obvious lack of morale or client retention.
Investors not interested in cryptocurrency in retirement plans
The ability to invest in cryptos ranked dead last among features that participants want to see in their retirement plans, Morningstar survey finds.
Rollovers up in 2020, even as 401(k)s try to retain assets
Last year, account holders moved an estimated $623 billion from their 401(k)s to IRAs, up from $565 billion in 2019, a 10% increase, according to a report Tuesday from Limra’s Secure Retirement Institute.
Merrill Lynch duo managing $211 million moves to Stifel
Bill Wade and Reid Berry are opening an office in Brentwood, Tennessee.
Latest thematic ETF homes in on cleaner living
Amplify DTOX fund tracks an index of 78 companies that derive at least 80% of revenues from one of five cleaner living market segments.
More than half of Americans say they are in financial recovery mode
Northwestern Mutual survey finds most respondents' financial planning is focused on the short term, with only 14% actively planning more than five years out.
Pandemic led men to be more charitable, survey finds
Women are still more generous than men and became even more interested in philanthropy in 2020.
Diversity could propel the 401(k) industry into its next phase of innovation
Lack of diversity is a problem for the financial service industry, and especially the DC market, where most advisers are white males. That is also true of industry executives, most of whom went to college in the Northeast or were trained by a provider there.
Latest blow to 60/40 model is exodus of mom and pop investors
Savers are ditching the formula that's anchored retirement plans for more than half a century, after already low interest rates hit rock bottom during the pandemic.
What it takes to get more women working in financial services
Women Adviser Summit panelists say flexible work environments and instilling a sense of belonging are key.
SECURE 2.0 hearing shows fissure in retirement policy
Legislators focused on whether there was a need to improve retirement saving and sought to address whether the 401(k) system has failed Americans by disproportionately favoring affluent and white savers. Republicans also used much of their speaking time to deride the Democrat-led American Rescue Plan signed into law in March, which included bailout money for underfunded multiemployer pension plans.
Merrill team managing $842 million bolts to Raymond James
The four advisers in Salt Lake City, who operate as Williams & Townsend Wealth Management Partners, are joining the firm's employee unit.
