| | Products, Deals and People | | More Providers Invest in Digital Advice Provider | | More providers to retirement plans are investing in NextCapital. NextCapital provides partners with an integrated platform for delivering automated personal financial advice.Read more > | | | Market Mirror | Yesterday, the Dow gained 123.07 points (0.72%) to finish at 17,251.62, the NASDAQ closed 45.84 points (0.93%) higher at 4,968.92, and the S&P 500 increased 15.60 points (0.78%) to 2,021.15. The Russell 2000 was up 6.74 points (0.60%) at 1,127.74, and the Wilshire 5000 climbed 153.53 points (0.75%) to 20,746.47.
On the NYSE, 3.1 billion shares traded, with a near 2 to 1 lead for advancers. On the NASDAQ, 2.7 billion shares changed hands, with 1.6 advancing issues for every declining issue.
The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.191%. The price of the 30-year Treasury bond increased 7/32, bringing its yield down to 2.911%. | | | Sponsored message | Looking for alternatives for your defined contribution retirement plan?
Visit the Stable Value Educational Hub.Read more > | | | Compliance | | Fidelity Faces ERISA Lawsuit Over Stable Value Fund | | A recently filed lawsuit accuses Fidelity Management Trust Company of engaging in imprudent investment strategies for the Fidelity Group Employee Benefit Plan Managed Income Portfolio Commingled Pool (MIP), a stable value fund offered as an investment option in some 401(k) plans for which Fidelity was trustee. According to the lawsuit, during a specified class period, the MIP had such low investment returns and high fees that it was an imprudent retirement plan investment. The poor performance and high fees of the MIP were the result of the intentional actions and omissions of Fidelity as trustee of the plans, the suit alleges. Fidelity delegated day-to-day management of the MIP to its affiliate, Fidelity Management and Research Company, and the lawsuit accuses Fidelity of failing to continuously monitor and supervise its affiliate.Read more > | | 2015 Was the Year of ‘Fiduciary’ | | Heading into 2016, the Department of Labor (DOL) has clearly made real progress on getting new retirement planning advice standards in place—much to the chagrin of retirement plan industry providers. The text of the proposed “conflict of interest” rule, as it’s now commonly called, emerged months ago and will soon be reissued in final form. Those informed enough to guess about such things project final rule language will be published as soon as January or as late as March or April.Read more > | | | Small Talk | | ON THIS DATE: In 1808, Ludwig van Beethoven’s Symphony No. 5 in C Minor, Op. 67—the “Fifth Symphony”—made its world premiere in Vienna. In 1894, the United States Golf Association was formed in New York City. In 1895, German physicist Wilhelm Röntgen made the first X-ray, of his wife’s hand. In 1956, a baby gorilla named Colo entered the world at the Columbus Zoo in Ohio, becoming the first-ever gorilla born in captivity. In 1971, the Los Angeles Lakers of the National Basketball Association (NBA) defeated the Baltimore Bullets for their 27th straight victory, breaking the previous record for the longest winning streak in professional sports. | | TRIVIAL PURSUITS: Sometimes a look at word origins may surprise you. What is the origin, and thus meaning, of the word “mistletoe?”Read more > | | Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > |
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