News Archive

The Wall Street Journal reports that the Labor Department is examining whether Wells Fargo has been pushing participants to move money from their 401(k)s into more expensive IRAs at the bank.The report (subscription required), which attributes the story to “a person familiar with the inquiry,” says... READ MORE

Fearing that the current administration will not defend the fiduciary rule, AARP on April 26 filed a motion to intervene, seeking an en banc review of a divided panel ruling by the U.S. Court of Appeals for the 5th Circuit. The 5th Circuit on March 15 invalidated the rule, holding that the... READ MORE

The 21st Century is nearly two decades old — so why are we still relying on 17th Century technology for critical participant communications?A generation ago, plan sponsors only had to worry about the annual delivery of a Summary Plan Description. Much has changed since then, but not the mandated... READ MORE

A long-time proponent of the Labor Depatment’s fiduciary rule is planning to challenge the recent 5th Circuit decision to vacate the rule. Politico Pro reports that AARP is challenging the March 15 ruling by U.S. Court of the Appeals for the 5th Circuit that vacated “in toto” the fiduciary rule,... READ MORE

While reiterating some long-standing positions on socially responsive investing, the Department of Labor (DOL) has some new cautions about an ESG emphasis in plan design and proxy voting.It has done so in the form of Field Assistance Bulletin 2018-01, issued April 23, which is designed to provide... READ MORE

New survey results show that a significant majority of 401(k) consultants support additional services in DC plans.Nearly two-thirds (64%) of survey respondents said they believe plans should offer a “separate retirement income tier,” which may include retiree-focused services and products,... READ MORE

Is your firm still using outdated marketing practices to try to generate new leads? That apparently won’t cut it if you want to survive in today’s market.    To increase your reach with potential clients and solidify your brand, it is essential to move beyond outdated marketing efforts by... READ MORE

Despite the 4-1 vote by the Securities and Exchange Commission to release for public comment its fiduciary proposals, the commissioners apparently (still) have issues with the current version.In unveiling the package, SEC Commissioner Jay Clayton stated as motivations for this initiative: investor... READ MORE

A majority of U.S. investors have not calculated how much income they will need while they are retired and how much their retirement accounts will generate for them, says a recent study.According to the Wells Fargo/Gallup Investor and Retirement Optimism Index survey, most investors who have not... READ MORE