Franklin Templeton last year launched the Spryng crowd funding platform for college savings; at this point the firm has not conducted a systematic review of profile performance, but anecdotally, gift givers have typically been a friend or family member of the account owner or beneficiary, though other examples of giving have demonstrated the broad power of the platform.
“The idea that financial planning and wealth management are just for millionaires is one of the biggest misconceptions among Americans, and one of the most damaging,” warns Joe Vietri, senior vice president and head of Charles Schwab’s retail branch network.
To help ease the immediate concerns and confusion of clients, the law firm Stroock has published a helpful guide that dissects the latest fiduciary rule developments; on one attorney’s assessment, it actually is not that likely that the U.S. Supreme Court will get involved.
As one looks at retirement plans that have greater assets, the committee structure is more entrenched, which has slowed the uptake of 3(38) services relative to 3(21) services; Fielding Miller, CEO of CAPTRUST, argues this outlook may be changing.
Colony Enacts Mergers with Bridgewater Wealth and BWA; Multnomah Group Hires Former Investment Consultant; American Century Hires ETF Initiative Specialists; and more.
AndCo Consulting adds three to Pittsburgh consulting team; Franklin Templeton hires head of client investment solutions; Millennium acquires Inspira and ABG; and more.
The spouse of a married retirement saver inspires one out of five financial planning conversations, and this is growing, according to Hearts & Wallets.
Cerulli’s research shows more than half of advisers create customized investment portfolios on a client-by-client basis, while 42% start with investment models and alter on a client-by-client basis.
One adviser explains that if a plan has $1 million in assets, even a single basis point reduction in fees among 20 participants can, on average, save each participant $5 a year.
The Standard names
Retirement Plan Services VP; Wells Fargo hires head of Portfolio Solutions; Cafaro Greenleaf expands Retirement Plans team; and more.
Voya Financial hired leader of Retirement Product Organization; Lincoln Financial names head of Product Management; HSA Bank announces new leadership appointments; and more.