Ascensus Brings on Asset Management Executive as President
Former Pendal Group CEO Nick Good will report to CEO and Chair David Musto.
News
Senate, House Spending Bills at Odds on SEC Adviser Proposals
The House’s budget bill would block the safeguarding and climate risk proposals, whereas the Senate budget would not.
CAPTRUST Expands Presence in South
Acquisition of Southern Wealth Management brings managing partner Dick Jones and 62 colleagues to CAPTRUST.
Investment Product and Service Launches
Schwab introduces tools for workers with student loan debt; CapIntel launches proposal builder for SEC Marketing Rule compliance; Penny Finance...
IAA: SEC Marketing Rule Still Top Concern for Compliance Teams
Investment advisories rank the marketing rule as the ‘hottest’ topic for the third year in a row, followed by cybersecurity...
SEC Changes Liquidity Fee, Gate Structure for MMFs
MMFs must be significantly more liquid in 2024 under new rule updates adopted this week.
Insurance Group Calls On White House to Support More Retirement, Annuity Legislation
The IRI wrote to the Biden administration in the hopes it will back retirement legislation that paves the way for...
Twitter Hit With $500M Suit for Unpaid Severance
The proposed class action alleges Elon Musk promised to abide by the firm’s severance plan but did not follow through.
T. Rowe Price Champions Co-Branding With Adviser Firms
T. Rowe's head of core market segments says co-branding on financial wellness and advice can increase lead generation.
Wake Forest Baptist Health Settles 403(b) Suit for $3.8M
The plaintiffs filed an unopposed settlement after “hard-fought” negotiations.
The PLANADVISER Interview: Jay Jumper, CEO, Future Capital
The head of a retirement plan advice and managed account provider discusses the ‘race to the participant’ and why some...
Vanguard, Fidelity Top Morningstar’s List of Robo-Advisers
Morningstar named the two firms among their top digital investment advisers along with Schwab, Betterment and Wealthfront.
Principal Bolsters Retirement Division With Leadership Hires
Principal adds four industry leaders to support the growth of its U.S. retirement business.
Cogent: Advisers Should Lean Into 401(k) Cost-Cutting Conversations
A new Cogent report shows plan sponsors are more likely to direct heightened scrutiny, including cost-cutting, toward their retirement plans.
Advisory M&A
Hub International acquires Golden Corner Wealth Advisors; Marsh McLennan Agency adds Integrity HR Inc.; Day & Ennis joins Mercer Advisors;...
Wealth Management M&A Dips Slightly in Q2
The second quarter decline mimics similar drops in 2020 and 2022, even as the industry went on to strong dealmaking...
EBSA Publishes Regulatory Update on Health Facility Fees, Provider Networks
The FAQ says facility fees count toward out-of-pocket limits and price estimates, while maintaining a contractual relationship causes a provider...
Annuity Consultants Tout SPIAs as Best Income Option
Michelle Richter-Gordon and Mark Chamberlain are seeking adviser feedback on a digital guide touting the virtues of single premium immediate...
Federal Agencies Propose Plugging Short-Term Health Plan Workaround
The Biden administration has proposed limiting short-term health plans it calls ‘junk insurance’ to four months instead of one year.
FINRA Expels Brokerage Firm Monmouth for Violating Reg BI
Monmouth is the second firm to be expelled by FINRA for failing to supervise its representatives’ trading.