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
A request for information sent yesterday to the Office of Management and Budget is the first step in reviewing the rule, Mr. Acosta said. Plus, Investment Adviser Association members take complaints about DOL rule to Capitol Hill.
The brokerage cites "additional flexibility" granted by the DOL in recent guidance as a determining factor.
Fidelity and Empower announced first-of-their-kind services in recent months, hoping to capitalize on demand for greater personalization and generate new sources of revenue.
The win could provide fodder in other legal defenses, and supports the contention that comparing fund costs to Vanguard doesn't always provide an accurate barometer.
While non-traditional asset classes held in individual retirement accounts may have return and portfolio diversification benefits, there are "unique complexities" that limit their value for most investors.
Voya's about-face comes amid heightened regulatory scrutiny as customer complaints about buffer annuities have surfaced.
Insurers are introducing fixed-rate deferred annuities with income guarantees to circumvent BICE.
Some large brokerages such as Morgan Stanley, Edward Jones and Raymond James have seen a surge in advisory assets a year on from promulgation of the retirement regulation.
The DOL also hinted that clean shares may offer an avenue for an additional rule exemption, potentially as a replacement or alternative to BICE.
Large brokerage firms are updating technology to get a better understanding of clients in real time, to augment advisers' service and improve client experience.
