Compliance December 21st, 2023 Empower, SPARK Push Back Against Fiduciary Proposal Their concerns arise from the wide range of sales conversations that take place between recordkeepers and plan sponsors and the...
Data & Research December 7th, 2023 401(k) Loans, Hardship Withdrawals at 2-Year High Both loans and hardship withdrawals have increased to the highest rate since the pandemic, according to Empower’s annual retirement study.
Data & Research November 21st, 2023 Money May Buy Happiness After All, Empower Survey Shows Of Americans surveyed in an August poll, almost 60% said money buys happiness, at least in part, as it gives...
Products November 14th, 2023 Envestnet, Empower Launch 401(k) Plan Solution for Financial Advisers The retirement platform is geared toward wealth managers seeking a plan option and includes four options for providers of target-date...
Products & Services November 13th, 2023 Empower’s TDF-to-Managed-Account Offering Clocks $21B in Assets Recordkeeper's CEO notes potential for managed accounts and other participant offerings to grow on Prudential retirement migration.
November 8th, 2023 Portability Services Network Goes Live The digital automatic portability network of the nation’s six largest recordkeepers is now live, with Alight Solutions, Vanguard and Fidelity...
Data & Research September 26th, 2023 As Many Retirees Plan to Work for Fulfillment as for Money, Empower Finds Personalized advisement remains key for working retirees no matter their circumstances, says a financial adviser with the recordkeeper.
Products September 20th, 2023 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...
Data & Research September 18th, 2023 Consumer Researchers Rank Fidelity, American Funds Among Best Digital Experience J.D. Power and Corporate Insight ranked retirement plan providers on their digital and mobile offerings, showing overall increased satisfaction from...
In Practice August 9th, 2023 Empower Workplace Assets Rise 13% Through Q2, Personal Wealth Jumps 28% CEO Ed Murphy says rollover capture also increased year-over-year in the quarter for assets with an average of about $100,000.
Deals & People July 6th, 2023 Principal Joins Portability Services Network Consortium now has representation from the country’s five largest plan sponsors.
Client Service June 22nd, 2023 Empower CEO Expects Continued Recordkeeper Consolidation Edmund Murphy discussed Empower’s push into wealth management and building brand name recognition during investor day.
Deals & People June 8th, 2023 Putnam CEO Reynolds to Stay at Great-West After Franklin Deal The CEO won’t go to Franklin Templeton in Putnam acquisition but will be “in part focused” on the strategic partnership...
Deals & People May 31st, 2023 Edelman Financial Names Former Personal Capital Head Jay Shah as CEO Current CEO Larry Raffone will become chairman of the board while remaining a meaningful shareholder.
Deals & People May 31st, 2023 Franklin Templeton to Acquire Putnam for $925 Million The deal would boost Franklin’s defined contribution asset management to $90 billion in AUM, while Great-West, parent of Empower, will...
Deals & People May 30th, 2023 MassMutual Names New Financial Advisory, Annuity Leaders Mike Fanning, who oversaw the firm’s sale of its retirement recordkeeping division to Empower, is set to retire.
Products April 11th, 2023 In-Plan Annuity Offerings Gain Steam With Recordkeepers Recordkeeper incorporation of in-plan retirement income annuities is poised to progress in ’23, according to industry players.
Products March 8th, 2023 Empower Announces Consumer Wealth Management Division Services include combining, monitoring, and advising wealth across investments, including workplace retirement plans.
In Practice February 13th, 2023 Empower Joins Auto Portability Consortium The Retirement Clearinghouse-led consortium now includes the country’s four largest recordkeepers.
Deals & People January 9th, 2023 Retirement Industry People Moves Empower names Waddell head of new individual investor division that includes Personal Capital; Pentegra names new CEO as Pinto retires;...