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Putnam gears up for expanded 401(k) push
To lure 401(k) business, Putnam Investments will upgrade its technology and expand its service offering, according to a top executive.
HSA assets grew more than 62% last year, Celent study shows
Despite the downturn in the economy, the number of health savings accounts and assets held in the plans continue to grow, a new study released today showed.
The cost of kidnapping an adviser: Six years in prison
The 'Geritol Gang' tried to recoup investment losses by making off with their financial adviser. Now, they're looking at serious prison time.
ICI says 401(k) legislation would set a ‘dangerous precedent’
The Investment Company Institute blistered a House bill under consideration that would require detailed 401(k) plan fee disclosures and require plan administrators to offer a least one low-cost index fund to plan participants.
House committee approves bill restricting 401(k) advice to indie advisers
An influential House committee today approved a comprehensive package of retirement legislation that includes a provision that would permit only independent financial advisers to counsel 401(k) participants on their investment decisions.
Obama announces $80B deal with drug companies
Drug companies have pledged to spend $80 billion over the next decade to help reduce the cost of drugs for seniors and pay for a portion of Obama's health care legislation.
Survey: Employers confident in 401(k)s, despite poor performance
The majority of employers think 401(k) plans are working generally and that subpar performance last year was the fault of the economy, not the basic structure of the system, according to a survey released today.
Lawmakers plan push to reform 401(k) plans
A pair of key lawmakers are expected to introduce a bill on retirement reform later this week that could have substantial implications for investment advisers, 401(k) service providers and the majority of employer-sponsored retirement plans.
IRS shoots down new Roth IRA ploy
When Roth individual retirement accounts were created, it was inevitable that some taxpayers would attempt to exploit their advantageous provisions.
White House leaves advisers up in the air
If you are a commercial banker, savings and loan operator, mortgage broker or hedge fund artist, there is a lot to concern you in the regulatory-reform proposal outlined by the Obama administration last week.
Affluent households ignore 529 plans, study says
Two-thirds of affluent parents with children under 18 aren't using Section 529 college savings plans, according to a report by The Phoenix Cos. Inc.
Health reform debate overlooks long term care, Tom Daschle says
As Congress takes up health care reform, too little attention is being paid to long term care.
Retirement assets plummeted in ’08, ICI says
U.S. retirement assets were down 22% at the end of 2008, compared with yearend 2007, according to a report released yesterday by the Washington-based Investment Company Institute.
Small businesses considering eliminating 401(k) match
While the majority of small businesses do not think the economy will affect their ability to offer a 401(k) retirement plan, 44% said they may have to reduce or stop matching employee contributions, according to a survey released today by Nationwide Financial Services Inc. of Columbus, Ohio.
Funding LTC insurance absent from cliets’ to-do list
Advisers are struggling to get clients — especially baby boomers — to think about funding long term care in the face of depleted investment portfolios.
Fear’s a factor as General Motors files for bankruptcy
Financial advisers who cater to workers in the automotive industry are scrambling to prepare their clients for the onslaught of job losses that will follow General Motors Corp.'s filing for bankruptcy protection last week.
A planner’s recipe for success
Many financial decisions are made around the dinner table rather than a conference table, according to one financial planner and foodie who believes in presenting financial planning concepts in a more digestible way.
Sales of ‘investment-only’ assets shrank less than retail funds, FRC finds
Money managers saw assets sold through unaffiliated third-party defined contribution record keepers shrink less than their retail mutual funds last year, according to a report released yesterday by Boston-based Financial Research Corp.
Wealthier women sit in driver’s seat
Household financial decisions are being made increasingly by affluent women, creating opportunities for financial advisers, according to two industry surveys.
Target date funds shouldn’t stand alone, most investors believe
Two-thirds of investors believe that target date funds need to be combined with other funds to achieve a proper mix for their retirement portfolios, a white paper released yesterday by Janus Capital Group Inc. of Denver suggests.
