10th Circuit’s ‘Meaningful Benchmark’ Ruling Will Not Stymie Lawsuits, Experts Says
Five circuit courts have now heightened the standard for 401(k) participant lawsuits, but ERISA attorneys do not expect lawsuits challenging...
News
Private Fund Adviser Fined $1.6M for Duty of Care Violations
The infrastructure fund allegedly did not disclose conflicts of interest and took actions without regard for their impact on investors.
US Retirement Assets Rise for 4th Straight Quarter Through Q2
Defined contribution plans grew at a rate of 12% to $10.2 trillion, according to ICI, even as separate Escalent research...
Advisory M&A News – 9/25/23
Johnson Financial Group acquires Appleton Group; Bluespring Wealth Partners announces acquisition of Christopher Street Financial; Coutant Group joins UBS.
Judge Upholds DOL ESG Rule
A Texas judge, appointed during the Trump administration, ruled that the DOL does not violate ERISA by permitting ESG in...
SageView’s Long: ‘Tremendous’ Consolidation Still to Come in Retirement, Wealth
The founder, former CEO and now chairman also says serving participants—in or out of plan—will be key to succeeding amid...
Retirement Industry People Moves – 9/22/23
Toland leaves TIAA to start annuity consultancy; Jamie Hopkins moves to Bryn Mawr Trust as director of private wealth management;...
The PLANADVISER Interview: Michael Francis, Francis LLC
The advisory head discusses the conflicts of interest risk in merging retirement plan advisement and wealth management, plus why he...
Lawmakers Look to Shield Student Loanees From Garnishment of Social Security Benefits
With student loan payments set to resume, Democrats in Congress proposed a bill last week that would prevent the government...
Investment Product and Service Launches
Hartford announces 1st private-equity-focused fund; Intention.ly launches Advisor Brand Builder; Lincoln Financial introduces LincSmart.
Money Over Marriage: Younger Generations’ Priorities Present Adviser Opportunity
Younger savers may be responding to financial hardship ranging from the pandemic to inflation, according to research from MassMutual.
A ‘Slam Dunk’: 401(k) Auto-Portability Network Nears Live Date
A program starts in October giving plan sponsors the option for terminated small plans to automatically port to active 401(k)s...
Funds’ Portfolios Must Reflect Their Name, SEC Says
New rule means funds will have to derive 80% of their value from investments related to their official names.
DeVoe: Advisory Dealmaking Outpacing Last Year’s Q3
The uptick comes as RIA M&A activity experienced a slowdown for the previous 12 months.
Conduent to Transfer $2.7B in HSA Assets to HealthEquity
The business processes outsourcing provider will exit the flexible spending account business, and plan sponsors' accounts will transfer to HealthEquity...
Scope of AI Conflicts Proposal Finds New Opponents on the Hill
Members of both parties have criticized the SEC’s definition of ‘covered technology’ when it comes to using AI in financial...
Carlyle Makes Growth Investment in CAPTRUST
Equity from Carlyle will be used to advance CAPTRUST’s M&A strategy in both wealth management and retirement, says CAPTRUST president.
Recruiting a New Generation of Advisers
Junior advisers today may not fit the traditional mold, and firms should adapt to attract and retain talent, according to...
From Value Statements to Cold Calls, Advisers Talk Client Attraction
Retirement plan advisers provide insights on how to purposefully connect with potential clients.
Advisory M&A
Crabbe joins Cetera Advisor Networks; Integrity acquires Invictus Marketing Solutions; R&R Wealth Management selects Commonwealth; and more.