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Firm lends a helping hand
The idea to offer free financial planning to unemployed professionals came to Robert Fragasso when he was counseling a man who was on the verge of losing his house.
Keeping it all in the family can be tricky business
Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firm's websites would lead a client or prospect to believe.
Financial planning industry groups urge enforcer role for CFP Board
The effort is an attempt by the financial planning industry both to legitimize itself as a regulated profession and reverse the growing impetus of the Financial Industry Regulatory Authority Inc., which oversees securities brokers, to expand its domain to planners and advisers.
PMFM renames itself Stadion Money Management
The registered investment advisory firm has changed its corporate name to reflect its core focus.
Small business retirement plans fine in theory, difficult in practice
Although small-business owners think that an employer-sponsored retirement plan helps with hiring and retaining employees, nearly 40% don’t offer the benefit, according to a recent survey.
Financial markets face a lost generation of investors
Just as the Great Depression scared an entire generation away from the stock market, recent events may drive today's investors to the sidelines — forever.
Ex-major league star Mo Vaughn and adviser in beanball battle
A financial adviser to former Major League baseball player Mo Vaughn is claiming that he threatened and intimidated her after she tried to rein in his "insane spending habits."
Require 401(k) plans to offer fixed-income products, key congressman says
Requiring annuities or other fixed-income products be included as an option in 401(k) plans is being considered by the House Education and Labor Committee, said Rep. Robert Andrews, D-N.J., chairman of the committee’s Health, Employment Labor and Pensions Subcommittee.
Beware incredible shrinking 401(k) match, consultant warns
Nearly 200 corporations have already stopped matching workers' contributions to their 401(k) plans and the number could very well accelerate — and possibly double — in the coming months.
Size of plan, pay-in rates help lower retirement plan fees, survey says
Lower fees for defined contribution retirement plans are related to factors such as the size of the plan, higher contribution rates by employers and employees, and greater use of automatic enrollment.
Providing independent advice could fortify 401(k) system, congressman says
Rep. Robert Andrews said that despite more than $2 trillion in losses over the last year, the 401(k) system is not broken — it just needs some minor, and rather immediate, adjustments to empower individual investors,
Merrill settles 401(k) class action for $75M
Participants in the 401(k) plan at Merrill Lynch & Co. Inc. have reached a $75 million preliminary settlement with the brokerage firm to cover losses sustained in their retirement plans over the last several years.
Delaplane: Auto IRAs high on Obama’s to-do list
President Obama has his eye on automatic enrollment in individual retirement accounts and an expansion of the Saver’s Credit Act as a way to encourage Americans to prepare for retirement, according to a retirement policy expert.
Employers flock to gov’t funds to safeguard DC plans
More employer-sponsored retirement plans may start to offer Treasury and government money market mutual funds to minimize the risk of losses, according to a survey of plan consultants released today by Pacific Investment Management Co. LLC.
Auto-IRA plan isn’t good in the long run, opponents say
Opposition to the Obama administration's proposal to create automatic retirement plans in the workplace appears to be mounting — led in large part by both employers and financial advisers.
New tab for retirement health care: $240,000
The cost of health care in retirement has risen 50% since 2002, according to research released today by Fidelity Investments.
Mercer to offer DC admin services direct to advisers
Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.
Bosses, workers starve DC plans
Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.
Putnam stakes claim in 401(k) market
Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.
Alzheimer’s patient costs 3X those of other seniors
Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.
