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Groups retrench on defining planners
The Financial Planning Coalition has given up its effort to get Congress to establish a definition of financial planning that would have brought thousands of insurance and securities brokers under the sway of a new oversight board.
Sieg retools Merrill Lynch’s retirement services group
Three months after he joined the company, Andrew Sieg, head of retirement and philanthropic services at Bank of America/Merrill Lynch, has reorganized its retirement services group
New Labor Department 401(k) advice rules set to come out soon
The Labor Department is likely to issue new rules governing investment advice given to 401(k) plan participants by the end of this month, Assistant Labor Secretary Phyllis Borzi said today.
Industry group suggests alternative to Obama’s auto-IRA plan
The SPARK Institute's option would limit contributions to $10,000, higher than the typical IRA, would “simplify” investment option selection, among other things.
Op<b>IN</b>ion online
Deputy editor Evan Cooper on advisers, brokers, and TV. (Yes, TV)
White House looks to ramp up retirement savings programs
The Obama administration last week announced plans to require employers to give employees the option of enrolling in direct-deposit individual retirement accounts.
Tax traps of non-deductible IRA conversion
By now, most financial advisers know that when you have after-tax money in an individual retirement account, you can't just convert those funds and pay no tax on the conversion.
Financial planners tell House: Don’t put us under Finra
More than 1,000 financial planners contacted members of the House to oppose a provision in financial-reform legislation that could put many advisory firms under the jurisdiction of the Financial Industry Regulatory Authority Inc.
Financial planners: Our advice should not fall under proposed regulations
Financial planners are worried about being regulated by the proposed Consumer Financial Protection Agency when it comes to dishing out advice about mortgages, taxes and estate planning.
Putnam unveils online IRA tools for financial advisers
Putnam Investments has joined the slew of fund companies launching online tools to help financial advisers talk to their clients about whether or not they should convert to a Roth Individual Retirement Account.
Houses votes to extend estate tax permanently
The House voted Thursday to permanently extend a 45 percent inheritance tax on estates larger than $3.5 million,…
BrightScope launches online 401(k) fee tool for advisers
BrightScope Inc., a provider of 401(k) plan ratings, last week introduced an online tool that provides investors and financial advisers with personalized data about how much they are paying in fees in retirement plans.
Meltdown jolts consumers from financial fairyland
Financial planners around the country say there is a sense that people are returning to basic principles: Maximize savings; limit use of credit cards; keep a substantial emergency fund; understand risk; diversify; and don't short-cut your way to wealth.
LPL’s purchase of NRP: A closer look
With anticipation building about its $600 million IPO, LPL Investment Holdings Inc. last week said that it is acquiring the assets of National Retirement Partners Corp., an advisory and brokerage firm that specializes in defined-contribution retirement plans.
Fidelity introduces Roth IRA conversion tool for RIAs, brokers
Fidelity Investments introduced a free online Roth IRA conversion calculator Tuesday for its independent registered investment advisers and the broker-dealer clients that clear through National Financial Services LLC.
Roth IRA conversions 101: The basics of the 2010 rule
In retirement, your paycheck might go away, but taxes won't.
Controversial 401(k) fee suit gets new life
Almost a year after a court dismissed a complaint against Wal-Mart over its 401(k) plan fees, the 8th U.S. Circuit Court of Appeals has brought the case back into play.
401(k) advice faces critical test in House
In the next two weeks, members of Congress are expected to decide on the fate of legislation that would have severe implications for every firm that advised 401(k) plan participants, or planned to.
Utah goes even lower, cuts fees on 529 plans
Utah announced modifications to its Section 529 college savings plan today, including lower fees on some investment options and more flexibility in asset allocation.
Lord Abbett offers discounts on IRAs
Lord Abbett & Co. is offering discounts to clients who open an individual retirement account by April 15.
