News

The American Society of Pension Professionals & Actuaries (ASPPA) has recommended that the Treasury Department simplify the required employee communication items for retirement plans.

Despite improved finances overall, research from Financial Finesse shows only 15% of employees are confident they are on track to meet retirement goals.

Latin America’s mutual funds and private-pension funds will amass another $1.4 trillion over the next five years, according to a Cerulli Associates report.

USI Consulting Group announced that Jeffrey H. Snyder has joined the company as Vice President of Retirement and Investment Services, based in New York City.

CPI Qualified Plan Consultants, Inc. announced that Christy Hopkins has accepted the position of Retirement Plan Consultant in Denver, Colorado.

Bank of America announced John Thiel will be replacing Lyle LaMothe as head of Merrill Lynch U.S. Wealth Management. 

Schwab Advisor Services tracked 23 merger and acquisition deals among registered investment advisers (RIAs) in the first quarter of 2011.  

Commonwealth Financial Network has partnered with Erado Message Control to offer advisers a social media compliance solution. 

National Advisors Trust Company has partnered with Advisors Asset Management, Inc. (AAM), an investment partner for broker/dealers and advisers with fixed income securities solutions. 

National Advisors Trust announced an agreement with EPIC Advisors, Inc. to provide a branded 401(k) program with open-architecture and daily valuation services to its shareholder adviser firms.

A free 401(k) fee calculator on AARP’s Web site aims to help investors better understand 401(k) fees and their potential impact on retirement savings.

More than seven in ten 401(k) plan participants said they do not pay fees to plan providers in a recent AARP survey.

UBS Investment Bank announced that it added to its suite of E-TRACS exchange-traded notes (ETNs) an E-TRACS linked to the Wells Fargo Business Development Company (BDC) Index.

ING DIRECT USA’s broker/dealer subsidiary, ShareBuilder Securities Corporation, will be renamed ING DIRECT Investing, Inc.

The mysterious disappearance of a checked baggage may soon be a thing of the past.  

Mutual of Omaha said it will begin offering a plan-level fiduciary service option to its retirement plan customers.

The College Savings Plans Network (CSPN) reports that assets under management in 529 plans increased 11.5% in 2010 net of contributions and distributions.

Aberdeen Asset Management surveyed financial advisers and found that more than 75% would like more information on closed-end funds.  

Transamerica surveyed benefits directors and found that many believe their organizations do not do enough to help employees make critical decisions at the point of retirement.

Millennium Brokerage Group launched Physicians 401k, a multiple employer plan (MEP) designed for physicians and their practices.