A federal court in Maryland has entered a consent judgment requiring a Baltimore logistics company and its owner to restore $148,852 in missing contributions and interest to its 401(k) plan.
The action follows a U.S. Department of Labor investigation that found the company, Bicallis LLC, and its owner failed to forward employees’ pay deductions for the plan contributions and did not collect matching contributions the company owed the plan from October 2017 through December 2019.
The consent judgment also removes the company and Hill from their fiduciary positions with the plan, enjoins them permanently from serving in a fiduciary capacity for any Employee Retirement Income Security Act-covered plan in the future, and requires Bicallis and Hill to pay $3,090 for the cost of an independent fiduciary to administer the plan and distribute benefits to the plan’s participants and beneficiaries.
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
