The Client: ERISA plans/institutional management

LPL Buying Its No. 1 Branch Office

November 4, 2022No Comments

The deal for Financial Resources Group Investment Services, expected to help the firm's institutional sales, is priced at $140 million plus unspecified earn-out payments.

Home Office News: Morgan Stanley’s Bite-Sized Offering; RBC Targets Plan Sponsors; Schwab Adds Super-Cheap Shares to Menu

October 31, 2022No Comments

A roundup of key updates from major broker-dealers, registered investment advisors, custodians and other distributors.

Hack Exposed Personal Data of 1,600 Nationwide Plan Participants

October 14, 2022No Comments

The company, which notified authorities about the breach last month, is facing a lawsuit alleging negligence and breach of fiduciary duty.

DOL’s ESG Rule Could Come Out Next Month: Reports

October 12, 2022No Comments

The Office of Management and Budget said the DOL’s rule would be finalized by December, according to FA-IQ sister publication Ignites.

Bill Aims to Ease 401(k) Plan Investing in Crypto, Private Equity

October 4, 2022No Comments

A Republican bill purports to allow retail investors access to private markets to bolster retirement savings.

DOL Orders Wells Fargo to Pay $145M over 401(k) Plan

September 14, 2022No Comments

Meanwhile, Janus Henderson is facing allegations that it relied on underperforming proprietary funds with excessive fees in its 401(k) plan.

Hub Acquires Assets of $618M RIA

September 12, 2022No Comments

The latest addition is Direct Advisors, which serves the construction industry.

UBS to Charge Retirement Plan Service Providers for More Access to FAs

August 24, 2022No Comments

Fund shops and retirement plan recordkeepers would pay around $150,000 for a program that would also give them “prioritized review” of their new products and services.

Retirement Savers Want Tech-Enabled Communications

August 17, 2022No Comments

Meanwhile, retirement plan providers are relying more on social media to engage with younger plan participants.

401(k) Savers Changing Habits Because of Inflation: Schwab

August 1, 2022No Comments

More plan participants view inflation as the main obstacle to their retirement goals than monthly expenses, market volatility and unexpected expenses, according to Charles Schwab.