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
It would be the ninth state to pass legislation creating a plan, and differs from other states' auto-IRA and marketplace approaches.
Interest in aggregator firms focused on 401(k) plans has grown, but advisers must weigh what they'd be sacrificing and gaining through such arrangements.
Tons of 401(k) advisers will be prone to litigation come June, and advisers need to know where the pitfalls lie and how best to protect themselves.
In a potential indication of how judges will rule in the other university lawsuits, Emory and Duke will have to defend allegations that using multiple record keepers breaches their fiduciary duty.
Five states have vowed to forge ahead with plans to create retirement programs, but the president's actions may slow development in other states.
Uncertainty around the rule may be contributing to tentativeness from advisers and distributors.
Fidelity, responding to demand for fiduciary services, will be competing with third-party providers such as Financial Engines and Morningstar for distribution.
The largest record keeper is being more aggressive than its peers in pushing fiduciary services for retirement plans and participants, observers say.
Wirehouse's new recruiting strategy will focus on hiring and training younger advisers at the expense of signing top producers from rival firms.
Beginning in June, Merrill advisers will be able to use "limited purpose brokerage IRAs" for certain products and transactions, and the firm will also make more products available over its advisory platform.
