Greg was a reporter for InvestmentNews from 2015 to 2019, covering defined-contribution plans, retirement planning, insurance, taxes and estate planning, before then moving to CNBC as a Personal Finance Reporter. He tweets at: @GregIacurci
Wirehouse will allow more advisers to manage retirement plan menus on a discretionary basis via a Bank of America chief investment office selection.
The technology has the potential to change and improve how advisers do business.
Empower's new product lets advisers select the underlying investments.
Firm is trying to shift its business mix, freed up $200 million in capital.
Most advisers have a tough time discussing health issues with clients — and that imperils them.
Advisers are also concerned that these programs are serving as distribution outlets for proprietary financial products.
A second lawsuit has been filed alleging that the largest retirement plan record keeper received undisclosed kickbacks from mutual fund companies.
Acquisition would be in line with trend of record keepers seeking to gain scale to combat fee reduction.
Sales broke a record last year despite rules that observers believed would slow them down.
Insurers may turn to direct-to-consumer sales only, bypassing brokers and insurance agents.
