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BY Joey Santos-Jones 4/24/2024
Betterment has entered into an agreement with Goldman Sachs to acquire the digital investment accounts of the investment bank's Marcus Invest, as announced on Monday. Betterment will integrate Marcus Invest's accounts into its operations. The company currently manages over $45 billion in assets and...
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BY Ted Godbout 4/24/2024
Nationwide is accelerating the adoption of next-generation automatic plan features by allowing plan sponsors to automatically default participants into an in-plan protected retirement solution, according to an April 24 announcement by the firm.
While many employers are familiar with setting a...
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BY Nevin E. Adams, JD 4/24/2024
It’s said that if at first you don’t succeed, try, try again—but if you’re suing in federal court, you had better make your case.
The suit in question this time—which was last decided in favor of the fiduciary defendants almost exactly a year ago—had alleged that the Georgetown University 403(b)...
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BY Jenny Kiffmeyer, JD 4/24/2024
ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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BY John Sullivan and Ted Godbout 4/23/2024
On Tuesday afternoon, the Department of Labor (DOL) released its final Retirement Security Rule—also called the Fiduciary Rule—that it said will “protect the millions of workers who are saving for retirement diligently and rely on advice from trusted professionals on how to invest their savings...
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BY Bonnie Treichel, JD, and Nevin E. Adams, JD 4/23/2024
The new year has brought with it two new genres of Employee Retirement Income Security Act (ERISA) litigation, including the first-ever case of an employee alleging a fiduciary breach by the employer’s health care plan practices.
That said, cases involving prudent selection and monitoring of...
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BY Nevin E. Adams, JD 4/23/2024
It’s been said that a crisis is a terrible thing to waste. But what if it’s a figment of your imagination?
“Crisis” is a word much bandied about these days, most particularly as a label applied to retirement—by foes and fans alike. Indeed, while not so long ago headlines posed that premise as a...
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BY NAPA Net Staff 4/22/2024
Coming just days after announcing that it will be acquiring Vanguard's Individual 401(k), Multiple Participant SEP (Multi-SEP), and SIMPLE IRA plans business, Ascensus announced that Mary Torgerson will join the company as its new head of Small Business Retirement.
As a 20-year leader in financial...
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BY John Iekel 4/22/2024
Spring cleaning is well underway. But that need not be limited to closets, kitchens, and garages—it can serve retirement plans and their administrators too. And one such prime function is addressing missing participants.
Missing participants—former employees whose benefits remain in the plan but...
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BY Ted Godbout 4/22/2024
Wealth management M&A activity “continues to thrive,” with 90 transactions announced during the first quarter of 2024, representing a 20% increase over 2023’s first quarter, according to ECHELON Partners’ 1Q24 RIA M&A Deal Report.
While overall activity was down from the fourth quarter—...
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