The central claim in the failed class action was that plaintiffs were forced to overpay significantly for advisory services; defendants successfully argued the plaintiff failed to state an actionable claim.
Curcio Webb serves as an independent intermediary helping plan sponsors select and monitor 3(38) advisers and outsourced chief investment officers; the matchmaker firm offers some insight about what makes for a good adviser-sponsor fit.
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.
Research reveals that less than half of sponsors believe that employees are solely responsible for their own retirement savings and investing decisions, but greater than three-quarters of participants feel that they have sole responsibility for these decisions.
One of the most common approaches to valuing managed account services is to compare historical investment performance with a target-date fund or similar benchmark; Empower Retirement argues there is a better approach that involves considering “an alpha-equivalent measure.”
According to the firms, the “one wallet” approach provides employees with a holistic view of their overall wealth and health when electing their workplace benefits.
Familiar allegations are leveled against Georgetown University in the latest example of defined contribution litigation to hit a big-ticket U.S. university.
The revamped website will present employees with “a more simplified and interactive experience,” the firm says, while featuring data-driven recommendations.
A district court found plaintiffs met the requirements of ERISA Rule 23(a) and the class is maintainable under at least one of the subdivisions of ERISA Rule 23(b).
Compared with those who seek out traditional advisers, “online enthusiasts” are marginally more skeptical of believing that financial services firms are working in their best interests, according to Cerulli research.
“Financial stress distracts employees and can hurt an organization’s bottom line by lowering productivity, increasing turnover and harming workers’ health,” warns Elias Vogen, Securian’s director of group insurance client relationships.
Voya Investment Management has pledged to adopt six basic principles to promote and support the use of environmental, social and governance investing programs.
Empower’s PlanVisualizer aims to create a holistic view of a client’s retirement plan in its current state, along with the ability to model how changes to key design elements can potentially affect participant preparedness.
Fidelity confirms that it will soon begin charging a 0.05% fee on assets invested through its platform into Vanguard products.
Respondents to a recent survey broadly use multiple benchmarks and measures to assess multi-asset fund performance, with around three selected on average; this runs the risk of investors losing sight of the primary goal, potentially leading to disappointment.
In the years ahead, Corporate Insight expects a very strong focus on the issue of cybersecurity among retirement plan providers and investment managers, putting the impetus on plan sponsors to ensure they understand the evolving landscape.
T. Rowe Price brings in new head of CEDT Innovation Center; USI Consulting hires assistant vice president of retirement services; StoneStreet rebrands as its services are expanded; and more.