Drawing on his experience leading a sizable integration of two recordkeepers, the CEO of John Hancock Retirement Plan Services offers some insight about Principal’s acquisition of Wells Fargo Retirement and Trust.
Talking about the decision to acquire the sizable retirement plan business of Wells Fargo, Principal Financial Group’s Renee Schaaf says it’s all about scale and doubling down on the plan sponsor experience.
While the firms are better known for their sizable banking businesses, both BB&T and SunTrust offer DC plan recordkeeping services; plan sponsor clients “should expect business to continue as usual” for the time being.
Jack Bogle set out to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders; he said this was necessary to address “major corporate conflict” inherent to the traditional approach to stock fund investing.
For example, the increasingly popular industry terminology around “the retirement tier” scored very low among respondents to an Invesco participant survey in terms of effectively communicating necessary information.
Results of a new Pew survey show about four in 10 non-investing individuals who express distrust in their primary financial institution said they would opt out of an automatic retirement plan enrollment.
The new online resource is specifically designed to help those older than age 50 with key issues to consider as they near retirement.
Wells Fargo uncovered four specific participant characteristics that correlate with a significantly better financial life.
The new guidelines offer a practical framework to help global and regional employers better understand how much money different workers need to save for a stable retirement.
Former regional vice president joins Securian; SageView opens new location; Calvert adds four ESG experts; and more.
“There is a lot of value in having conversations about retirement income that are not just product driven,” said Josh Cohen, head of institutional defined contribution for PGIM.
Among other features, the program delivers worksite seminars allowing employees to learn about financial principles that are relevant to them, including personal finance and retirement strategies.
A MetLife white paper suggests employers consider linking financial wellness communications with acknowledged personal milestones or positive behaviors.
An announcement this week that Fidelity is launching retail mutual funds with management expense ratios of zero basis points shows how asset managers are evolving to capture a greater share of a shrinking fee pool.
In creating a unified sales and service structure for DC, DB, multiemployer and association retirement plans, the firm wants to provide a more consistent experience for both advisers and plan sponsor clients regardless of market size, location or organizational structure.
Through the expanded Fidelity managed account program, employees will benefit from “ongoing, proactive engagement, including expanded annual checkups, reminders, and information that addresses their specific investment needs, to help them stay on track toward their financial goals.”
One important purpose of offering more holistic benefits and education that link health and wealth concerns for employees is that it “prevents the 401(k) plan from being treated like a checkbook.”
Is it more than education? Is it a full-blown program or something spontaneous and ad hoc? How frequently is it delivered, and how is it benchmarked? Who delivers it, and when?
New DCIIA research put together in concert with a large group of retirement industry service providers highlights the crucial role plan design plays in terms of participants' decumulation decisions.