Top Banner Ad



Download your free copy of "DC Insights: The Active Advantages Participant Case Study" and start receiving the NAPA Net Daily from the National Association of Plan Advisors — both absolutely free! READ MORE

Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams4/22/2014 • 0 Comments

One of the more surprising findings from the 2014 Retirement Confidence Survey was that fewer than half of respondents indicate they (or their spouses) have ever tried to calculate how much money they will need to have saved so that they can live comfortably in retirement. READ MORE

By Nevin Adams4/7/2014 • 1 Comments

Over the past several years, a growing amount of attention has been focused on the decumulation of defined contribution plan balances. Much of that focus has, of course, been driven by concerns that individuals won’t have enough resources accumulated to fund a comfortable retirement. READ MORE

Fred Barstein

Fred Barstein

Fred Barstein

By Fred Barstein4/30/2014 • 0 Comments

Reacting to a forensic investigation initiated by state employees, North Carolina’s $87 billion state pension system may be moving from a sole trustee to a board soon. As reported in P&I, a panel convened by State Treasurer Janet Cowell is recommending the change amid allegations set forth in a forensic investigation commissioned by the State Employees’ Association of North Carolina. READ MORE

By Fred Barstein4/30/2014 • 0 Comments

The news in Fidelity’s latest quarterly report on 401(k) plans and IRAs is generally good. Average 401(k) account balances were $88,600 in Q1 2014, up 9% from a year earlier and 92% since Q1 2009. However, although auto plan features seem to be helping, there is cause for concern as well. READ MORE

By Fred Barstein4/29/2014 • 0 Comments

Based on a survey of 451 executives at companies with 25 to 249 employees commissioned by Guardian and conducted by Brightwork, there is widespread satisfaction with their retirement plans — but especially among those that work with a plan advisor. READ MORE

By Fred Barstein4/29/2014 • 4 Comments

Do advisors add value to their DC plan clients? That’s the big debate in Washington and in the industry today. But focusing on fees without measuring value makes the discussion almost meaningless. In their annual DC survey, PlanSponsor magazine compared the performance metrics of more than 3,000 plans that have an advisor to more than 2,000 that don’t. READ MORE

By Fred Barstein4/28/2014 • 0 Comments

As the economy evolves and new generations start entering the workforce, will financial service firms adjust to the barriers to making the advisory field a career choice? Brokerages are certainly having a harder time attracting new advisors. Now at least one wire house, Wells Fargo Advisors, is considering changing its compensation formula, putting more emphasis on salary versus variable compensation. READ MORE

By Fred Barstein4/28/2014 • 1 Comments

Is the Nicholas Schorsch-led RCAP a serious competitor to LPL in the IBD world? In a far-reaching article by Investment News’ Bruce Kelley, the comparisons between the two firms are compelling — although Schorsch claims, “We're not trying to be a better version of LPL. We're trying to be a different business.”  READ MORE

By Fred Barstein4/28/2014 • 0 Comments

According to the annual Gallup Economy and Personal Finance poll conducted this month, not having enough money for retirement remains the top concern for Americans, followed by medical costs caused by a serious illness or accident and maintaining a standard of living. READ MORE

By Fred Barstein4/25/2014 • 0 Comments

Major deals and restructuring have significantly altered the DC industry landscape, with more — many more — to come. READ MORE

By Fred Barstein4/25/2014 • 0 Comments

Social media remains a mostly untapped opportunity for highly regulated financial advisors and their supervising organizations. LinkedIn has become the dominant professional business networking site. In partnership with various industry software vendors, the firm has announced a program to help BDs and RIAs supervise their reps to ensure that they are complying with SEC and FINRA rules. READ MORE

By Fred Barstein4/25/2014 • 1 Comments

With all the press about the retirement savings crisis, you would think more people over the past 10 years would be saving for retirement. While older workers have gotten the message, other generations have not. According to EBRI’s Retirement Confidence Survey, 4% fewer workers in 2014 are saving for retirement than in 2004. Here’s the demographic breakdown: READ MORE

By Fred Barstein4/24/2014 • 0 Comments

With nearly one-quarter of the $23 trillion in U.S. retirement assets in DC plans, it’s important to keep track of the activities of participants. In its latest report, the ICI — in partnership with EBRI — reviewed and compared asset allocation, withdrawal, loan and contribution activity for DC plans in 2013. The overall findings are that participants stayed the course, with little change from 2012. READ MORE

By Fred Barstein4/24/2014 • 0 Comments

A group of 150 advisors have sent a letter to the SEC claiming that Rule 2243, which would require advisors to disclose recruiting bonuses, will cause clients more harm than good. The comment period has ended and the SEC has until mid-May to rule, although it can extend that period. The advisors are concerned that the rule would stifle competition and hurt succession planning. READ MORE

By Fred Barstein4/24/2014 • 0 Comments

Auto-plan design features have made a significant impact on retirement readiness and are being widely adopted. So what are the best practices? A white paper by BMO reviews the questions and the decisions that need to be made, and offers some suggestions as well. The questions that need to be answered include: READ MORE

By Fred Barstein4/23/2014 • 0 Comments

A recent GAO report found that while 81,000 new employer-sponsored retirement plans were formed during the 3-year period between 2009 and 2011, the overall trend was negative due to plan terminations — even with increased tax incentives. In addition, new plan formation during that period was below 2003-2007 levels. But the news was not all bad: The number of participants grew. READ MORE

By Fred Barstein4/23/2014 • 0 Comments

In the 2014 edition of "The Advisor’s Guide to 401(k) Plans," authors Bruce Tannahill and Louis Richey outline the 12 most common compliance errors compiled by the IRS. READ MORE

By Fred Barstein4/22/2014 • 0 Comments

It’s almost unheard of for a plan sponsor of any significant size not to go through an RFP process to search for a record keeper — so it only makes sense that the RFP process would migrate to plan advisor searches. InHub, a new service that launched this week, allows plan fiduciaries to scan a network of advisors, create a customized RFP and then manage and document the process. READ MORE

By Fred Barstein4/22/2014 • 0 Comments

Concerned about the costs and questioning whether the rule is necessary, an industry group asked the DOL to delay the rulemaking process it began last month requiring covered service providers to furnish a 408(b)(2) summary guide. READ MORE

By Fred Barstein4/21/2014 • 0 Comments

While most online advice firms have gotten more attention from VC firms than from clients, there’s one firm that could pose a serious threat to FAs: Vanguard. The online service that Vanguard launched in 2013 is still in development, with $755 million under management, and thus is still more of a phantom. READ MORE

By Fred Barstein4/21/2014 • 0 Comments

Will smaller BDs go the way of small banks and community banks? Based on recent data as well as increased regulation, the similarities are striking, according to an industry recruiter quoted in a ThinkAdvisor article. READ MORE

By Fred Barstein4/21/2014 • 0 Comments

According to research by ING, plan participants who use TDFs are more confident about meeting their retirement goals. They also defer more and are less stressed. The report also reviews why people using TDFs like them, as well as why people choose not to use them. READ MORE

By Fred Barstein4/18/2014 • 0 Comments

Though dwarfed by the TIAA-CREF acquisition of Nuveen, Victory Capital announced the acquisition of fellow midwest investment manager Munder Capital. READ MORE

By Fred Barstein4/18/2014 • 0 Comments

PIMCO just released its 8th annual “DC Consulting Support and Trends Survey,” which included 49 firms — mostly so-called “Tier 2” consultants — representing 7,800 clients and $2.8 trillion of DC assets, with an average plan size of more than $350 million. READ MORE

By Fred Barstein4/18/2014 • 0 Comments

A new Legg Mason white paper by Maria Hurd from the Delaware-based accounting firm of Belfint, Lyons & Shuman covers the ins and outs of an ERISA audit. Before you stop reading to get a head start on your plans for the weekend, there are practical reasons to know more about plan audits. READ MORE

By Fred Barstein4/17/2014 • 1 Comments

Settlements were reached this week regarding Detroit’s pensions that would significantly roll back previously proposed cuts. Under the terms of the proposals, there would be no cuts in benefits for pensioners in the two funds representing current and retired firefighters; for police there could be a 1% COLA. READ MORE

By Fred Barstein4/17/2014 • 0 Comments

In June, NAPA Net will launch a “master calendar” of events and programs focused on helping plan advisors obtain CE credits as well as expand their skills and network with other professionals. The calendar will include industry events, webinars and meetings, including private programs by NAPA Firm Partners. Information on the calendar will include: READ MORE

By Fred Barstein4/17/2014 • 0 Comments

Two of the more well-known online financial advice providers raised a total of $60 million recently, increasing the stakes and discussions about the viability of online advice firms. READ MORE

By Fred Barstein4/15/2014 • 0 Comments

The mystery surrounding former chief executive Mohamed El-Erian’s departure from PIMCO continues two months after the fact. There has been much speculation, but nary a word of explanation from El-Erian. Now, in a recent interview with Bloomberg TV, Bill Gross reveals that the reasons behind El-Erian’s departure are still a mystery to him. READ MORE

By Fred Barstein4/15/2014 • 3 Comments

Another lawsuit involving alleged excessive fees and improper receipt of revenue sharing has been settled, pending approval by the federal district court that heard the case, FRA PlanTools reports. Parties in the class action lawsuit brought by plan sponsors against ING in the Heathcare Strategies case agreed to settle late in the week of April 7. READ MORE

By Fred Barstein4/14/2014 • 0 Comments

Is the recent wave of broker dealer acquisitions about to get even bigger? In an earnings call, Well Fargo CEO John Stumpf announced that the firm could be in the market for companies that would complement their wealth management unit, which enjoyed a 41% increase in profits last quarter. READ MORE

By Fred Barstein4/14/2014 • 0 Comments

The recently rebranded CUNA Mutual Retirement Solutions — formerly CPI — has hired six new people in the field to support their 18 external wholesalers. READ MORE

By Fred Barstein4/14/2014 • 2 Comments

While TIAA-CREF has $569 billion in AUM, it has yet to be considered a major mutual fund or DCIO provider, gathering most of its assets through the 403(b) plans it has record kept. That has now changed. With the acquisition of Nuveen and another $221 billion in AUM, TIAA-CREF has catapulted itself into the top 20 mutual funds, with a foothold in the DCIO market. READ MORE

By Fred Barstein4/14/2014 • 0 Comments

MassMutual’s Retirement Services group led by EVP Elaine Sarsynski announced major changes in senior management April 14. Most notable is the departure of Hugh O’Toole, head of sales and worksite education. READ MORE

By Fred Barstein4/14/2014 • 0 Comments

The DOL’s expanded fiduciary definition rule could reduce retirement savings by 20%-40%, according to a study commissioned by Davis & Harman LLP on behalf of a coalition of financial services organizations, including banks, insurance companies, brokerage firms and mutual funds that service the retirement industry. READ MORE

By Fred Barstein4/14/2014 • 0 Comments

According to a New York Times article, the next land mine to blow up in the pension world could be the pooled multiemployer plans used by unions. The Congressional Budget Office estimates that the federal multiemployer pension insurance pool could run out of money in seven years, causing some firms to start cutting back on some benefits and eliminating others. READ MORE

By Fred Barstein4/11/2014 • 2 Comments

Perceiving that his mission has little to no chance of succeeding, FINRA CEO Richard Ketchum admitted to the Wall Street Journal April 10 that he is backing off his quest to oversee RIAs. READ MORE

By Fred Barstein4/11/2014 • 0 Comments

Responding to the lack of access to workplace retirement plans, Illinois has become the latest state to consider a mandatory retirement plan for private sector employers. The “Illinois Secure Choice Savings Program” would be a portable, IRA-like mandatory plan for all companies with 25 or more employees that have been in existence for at least two years. READ MORE

By Fred Barstein4/10/2014 • 0 Comments

Detroit reached a tentative settlement with bond holders representing $388 million this week to take 74 cents on the dollar. The $50 million in savings that would result from the settlement would go to lower income retirees, who still face a 26% cut, compared with cuts of 6% for police and fire fighters. READ MORE

By Fred Barstein4/10/2014 • 0 Comments

Advisors in general and plan advisors specifically will face a more difficult road ahead as margins grow thinner and clients become more sophisticated and demanding. This means that advisors have to become better business managers, not just better investment advisors or sales people. READ MORE

By Fred Barstein4/9/2014 • 0 Comments

Not letting up on their acquisition of IBDs, Nicholas Schorsh’s RCAP Holdings is in exclusive negotiations with another unnamed BD, according to an SEC filing. Investment News reports that with four of the five BD purchases still pending, RCAP needs to wait before it can continue its acquisition strategy, which began last June. READ MORE

By Fred Barstein4/9/2014 • 0 Comments

According to custodian Northern Trust, TDFs were the largest gainer of flows into DC plans last year, at the expense of fixed income. So where is the silver lining for long-only, actively managed equity mutual funds without a viable TDF? READ MORE

By Fred Barstein4/9/2014 • 3 Comments

A U.S. News and World Report article by financial planner Hal Bundrick calls 401(k) education the biggest failure of adult education in history. Based on the number of people affected, the money spent and the stakes, that statement is not an exaggeration. So why has it failed, and what can be done? READ MORE

By Fred Barstein4/8/2014 • 1 Comments

It’s common knowledge that fees charged by plan advisors are declining, especially in the mid and large markets. But overall, revenue generated by advisors on client assets is declining too. Advisors generated 68 BPs from client assets in 2013, according to a study by Price Metrix involving 40,000 advisors. This marked a continual decline from 69 BPs in 2012 and 72 BPs in 2011. READ MORE

By Fred Barstein4/8/2014 • 1 Comments

While some mid-market and small record keepers have been heralding the equitable allocation of revenue sharing, very few if any micro market providers offer it. But since June 2013, as a new white paper by Fred Reish notes, Paychex has offered the service to the smallest of plans. READ MORE

By Fred Barstein4/4/2014 • 0 Comments

Though the Internet has opened up opportunities for niche players in some markets, in the DC retirement business, size still matters — as witnessed by Great-West’s April 3 announcement that it will acquire JP Morgan’s DC record keeping business. The combined entity will have $387 billion and serve 6.8 million participants, making it the second-largest provider in the DC market focused on 401(k), 403(b) and 457 plans. READ MORE

By Fred Barstein4/4/2014 • 1 Comments

While the DC record keeping business is going through massive changes (witness the recent moves by Great-West) and more experienced plan advisors are joining teams, realizing that it is almost impossible to it alone, the DCIO industry has to adjust. READ MORE

By Fred Barstein4/4/2014 • 0 Comments

Having trouble trying to compare TDFs? You’re not alone, and the SEC has noticed. The agency announced April 3 that it is seeking comments on recommendations made by the Investment Advisory Committee to develop a glide path illustration based on a standardized measure of fund risk. READ MORE

By Fred Barstein4/3/2014 • 2 Comments

When Morningstar makes a big move — like its recent acquisition of ByAllAccounts, the dominant account aggregator for financial advisors, for example — the market takes notice, especially competitors who use the service. With 2,100 clients (including many financial advisors), 4,300 custodians, 40 platforms and $730 billion moving through its engine daily, BAA has been on a roll over the past four years and has become the dominant account aggregator, according to a report by RIABiz. READ MORE

By Fred Barstein4/3/2014 • 0 Comments

The U.S. Supreme Court heard oral arguments April 2 in the Fifth Third Bank stock drop case. The heart of the issue is the duty of plan fiduciaries when managing company stock as a plan investment on behalf of their employees and whether the so-called Moench presumption of prudence should continue to exist. READ MORE

By Fred Barstein4/2/2014 • 0 Comments

Are plan fiduciaries which offer funds with a wide range of fees immune from excessive fee lawsuits? Until the recent 8th Circuit opinion in Tussey v. ABB, the answer seemed to be yes, as evidenced by the Hecker case. READ MORE

By Fred Barstein4/2/2014 • 0 Comments

It looks like custom TDFs might have some life after all, according to a February survey of 285 DC plan executives by SEI. While just 12% indicated that they currently use custom TDFs, that percentage could rise to 37% soon. READ MORE

By Fred Barstein4/2/2014 • 0 Comments

One of the issues for online advice services is that their ambitions are much larger than their AUM. While NextCapital has overcome that hurdle by focusing on rollovers from 401(k) plans, it has yet to figure out a way to charge individual account holders, according to a report by RIABiz. READ MORE

By Fred Barstein4/1/2014 • 1 Comments

While the growth of alternative mutual funds is significant — some of which is fueled by DC plans — and many hedge fund managers are participating either on their own or through sub advised relationships, many larger hedge funds have stayed away from the world of mutual funds, according to a report in P&I. READ MORE

Jerry Bramlett

Jerry Bramlett

Jerry Bramlett

By Jerry Bramlett4/24/2014 • 0 Comments

Grantham, Mayo and Otterloo & Co. (GMO) has released a white paper, “Investing for Retirement: The Defined Contribution Challenge.” Let’s take a closer look at what the authors have to say. READ MORE

By Jerry Bramlett4/17/2014 • 0 Comments

A recent research paper by RidgeWorth Investing, “Large Cap Value Indexing Myth-Conceptions”, seeks to demonstrate that large cap value managers can add value over the Russell 1000® Value Index. READ MORE

By Jerry Bramlett4/10/2014 • 0 Comments

Just as Michael Lewis’ newly published book, Flash Boys: A Wall Street Revolt is shedding light on the practice of high-frequency trading (HFT), a new threat to market transparency is beginning to rear its ugly head: dark pool trading. READ MORE

By Jerry Bramlett4/2/2014 • 2 Comments

At the 2014 NAPA 401(k) Summit last week, there was an interesting point/counterpoint discussion between NAPA Executive Director/CEO Brian Graff and Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis at The New School for Social Research. READ MORE

John Carl

John Carl

By John Carl4/29/2014 • 1 Comments

Responding to a question from an advisor in California, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk recently addressed a common inquiry about locating terminated participants for the purpose of paying out plan assets. READ MORE

By John Carl4/22/2014 • 2 Comments

Responding to a question from a financial advisor in Colorado, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a question about the service provider disclosures required under ERISA §408(b)(2). READ MORE

By John Carl4/15/2014 • 0 Comments

Responding to a question from a financial advisor in North Carolina, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a common question about Social Security benefits. READ MORE

By John Carl4/8/2014 • 0 Comments

Responding to a question from a financial advisor in Louisiana, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a question related to financial advisors and rollovers. READ MORE

By John Carl4/2/2014 • 0 Comments

Responding to a question from an advisor in Massachusetts, the ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk addressed a question about President Obama's proposal to cap a worker’s retirement savings at $3.2 million. READ MORE

Warren Cormier

Warren Cormier

Warren Cormier

By Warren Cormier4/11/2014 • 0 Comments

In a white paper published by Arnerich Massena, Inc. in March 2014, the authors review a variety of research studies that look at the investment returns of DC participants’ accounts compared with the returns of index funds, market returns, committee- or trustee-directed defined benefit accounts and asset allocation accounts. READ MORE

Jim Dornan

Jim Dornan

By Jim Dornan4/15/2014 • 0 Comments

Thanks to the momentum from the NAPA 401(k) Summit, the NAPA Political Action Committee (PAC) started off strong in the first quarter of the year. NAPA PAC works to make sure that advisors’ voices are heard on Capitol Hill by educating members of Congress and regulators on how federal legislation and regulations affect our industry and America’s retirement. READ MORE

By Jim Dornan4/14/2014 • 0 Comments

Delegates to last year’s NAPA DC Fly-In Forum know that we had some great speakers. House Education and Workforce Chairman Rep. John Kline (R-MN), Rep. Ann Wagner (R-MO) and Sen. Ben Cardin (D-MD) all shared their insight on what was happening on Capitol Hill on issues critical to the industry, including the proposed Department of Labor regulations on the definition of a fiduciary and possible changes to the tax code via tax reform legislation. READ MORE

Sheri Fitts

Sheri Fitts

Sheri Fitts

By Sheri Fitts4/10/2014 • 1 Comments

Investment advisors can finally join the world of restaurants, hotels and other business entities by sharing endorsements from sites like Yelp and Angie’s List, per a recent guideline update from the SEC’s Division of Investment Management. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel4/29/2014 • 0 Comments

More and more employers are making Roth accounts available within their DC plans — and more employees are taking them up on the offer, according to a new white paper from Aon Hewitt. READ MORE

By John Iekel4/22/2014 • 0 Comments

Just under half of employers in a study by the LIMRA Secure Retirement Institute say that the Affordable Care Act has affected the way they run their retirement plans and how much they spend on them. READ MORE

By John Iekel4/15/2014 • 0 Comments

In an exclusive interview with Christopher Carosa of FiduciaryNews, Brian Graff, Executive Director/CEO of NAPA and ASPPA, reaffirms the strong support of ASPPA and its sister organizations for real and tangible action to ensure a secure retirement for working Americans. READ MORE

By John Iekel4/5/2014 • 0 Comments

New guidance from the IRS may make the plan-to-plan rollover process a little smoother. Revenue Ruling 2014-9, issued on April 3, is intended to make it easier for plan participants to consolidate their retirement savings accounts by making it easier for them to move assets from one employer plan to another. READ MORE

By John Iekel4/1/2014 • 2 Comments

Plan participants with multiple IRAs are on borrowed time if they want to make more than one tax-free rollover from one IRA to another. Beginning Jan. 1, 2015, they can make only one, as Sarah Sise and Sheldon Smith of Bryan Cave note. READ MORE

Jenny Kiffmeyer

Jenny Kiffmeyer

By Jenny Kiffmeyer4/4/2014 • 0 Comments

The ERISA Advisory Council, the entity that advises the Secretary of Labor on issues of concern with respect to employee benefit plans, voted at its March 26, 2014, meeting to focus on three key issues for 2014 — two of which relate specifically to qualified retirement plans. READ MORE

Jennifer McKibben

Jennifer McKibben

By Jennifer McKibben4/21/2014 • 0 Comments

Picture this: Your ready-to-assemble project parts are spread across the floor. Which would you rather use to do a quick pre-assembly inventory? READ MORE

By Jennifer McKibben4/18/2014 • 0 Comments

Blue Prairie Group, a Chicago-based institutional retirement and investment consulting firm, has added DC industry veteran Carmela Elco to its growing network of retirement consultants. READ MORE

By Jennifer McKibben4/17/2014 • 0 Comments

OneAmerica has announced the launch of its OneSolution platform, a collection of tools and services to help employers better manage their retirement plans and increase employee participation. OneSolution brings together a full suite of investment and administrative services and reporting and educational programs into a single platform of plan management capabilities. READ MORE

By Jennifer McKibben4/15/2014 • 0 Comments

It’s official: ING US is now Voya Financial Inc., a recent Investment News article notes. READ MORE

By Jennifer McKibben4/14/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the IRS’ post-Windsor guidance for qualified plans, the implications of Great-West’s acquisition of JP Morgan’s record keeping business, ways to improve the effectiveness of investor education, Paychex’s application of equitable revenue sharing and the decreasing revenue per dollar under management by plan advisors. READ MORE

By Jennifer McKibben4/10/2014 • 0 Comments

MassMutual’s Retirement Services Division has launched its enhanced RetireSmart website to make it easier for participants to prepare for retirement. READ MORE

By Jennifer McKibben4/8/2014 • 0 Comments

F-Squared Investments has published a white paper on how plan fiduciaries of 401(k) and other retirement plans can address growing participant concerns about market risk and volatility in their retirement savings accounts. READ MORE

By Jennifer McKibben4/7/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in author Michael Lewis’ claim that the stock market is rigged, Yale Law Prof. Ian Ayres’ comments in Forbes, Great-West’s acquisition of JP Morgan’s record keeping business and Fred Barstein's related take on the changing DCIO landscape, and Jerry Bramlett's commentary on the idea that all DC fund lineups should contain an index fund. READ MORE

By Jennifer McKibben4/7/2014 • 0 Comments

Fidelity Investments added more than $8.9 billion in new assets in the small- and mid-sized corporate DC market last year, a new high in annual sales for that market and an increase of 7% over the prior year's sales. READ MORE

By Jennifer McKibben4/4/2014 • 0 Comments

Financial advisor Erik Swenson, President of Retirement Plan Solutions, has affiliated with Pensionmark Retirement Group, creating RPS Pensionmark. READ MORE

By Jennifer McKibben4/3/2014 • 0 Comments

According to advisors at the firm, Chris Randazzo, chief information officer for Global Wealth Management and Investment Management, has finally succeeded in delivering a stable platform. READ MORE

By Jennifer McKibben4/1/2014 • 0 Comments

ING, which in in the process of rebranding as Voya Financial, has announced that its Retirement Solutions business has launched a new web-based tool that enables users to organize, integrate and manage all of their financial information on one comprehensive digital platform. READ MORE

By Jennifer McKibben4/1/2014 • 0 Comments

Our list of last week’s top five most-read posts on NAPA Net was dominated by our onsite coverage of the NAPA 401(k) Summit: do 401(k) plans only benefit the wealthy, Graff and Ghilarducci face off, the DOL’s top investigation issue, the future of TDFs as they hit 20 years old and new requirements in the DOL’s recent fee disclosure guide regulation. READ MORE

John Ortman

John Ortman

By John Ortman4/30/2014 • 0 Comments

Wealth Management Systems Inc. (WMSI) announced today that it has launched the Small Business Retirement Plan Comparison Calculator within Pershing's NetX360 Retirement Resource Center. This new tool helps advisors to support small business owners in evaluating retirement plan options, choosing a plan to meet their needs and calculating the owner's maximum contribution toward retirement. READ MORE

By John Ortman4/29/2014 • 0 Comments

BlackRock has expanded its proprietary CoRI retirement suite, enhancing the online tool with a new feature that helps pre-retirees identify savings and investment strategies that can help plan for income goals in retirement. READ MORE

By John Ortman4/29/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in the high number of acquisitions in the DC industry over the last year, Jerry Bramlett’s take on valuation-aware portfolios, FINRA’s proposed rule on reporting recruiting bonuses, the top dozen compliance errors in DC plans, and Vanguard’s online advisory service. READ MORE

By John Ortman4/28/2014 • 0 Comments

As part of its commitment to retirement planning advisors, ADP® has introduced “IPS Zero,” an investment platform designed to appeal to advisors who employ a fee-for-service structure with their retirement plan clients and plan sponsors who want simplified fees. READ MORE

By John Ortman4/27/2014 • 0 Comments

Sometimes a participant can be caught between a rock and a hard place when a qualified plan loan must be repaid upon termination of employment. A recent IRS private letter ruling provides a good illustration, notes a Bryan Cave analysis. READ MORE

By John Ortman4/25/2014 • 0 Comments

UBS Wealth Management Americas has hired Andrew Duren as Head of Institutional Consulting & Retirement Program Administration and Operations. READ MORE

By John Ortman4/25/2014 • 0 Comments

A DOL investigation can be time consuming, expensive and potentially damaging to your reputation if the DOL concludes that you have violated an ERISA requirement. But it doesn’t have to be about fear at all, notes David N. Levine, a principal with the Groom Law Group, Chartered, in Washington, DC. You just need to be prepared. READ MORE

By John Ortman4/24/2014 • 0 Comments

John Hancock Retirement Plan Services has hired Margaret (Peggy) Santhouse as vice president, National Accounts, responsible for its mid-market distribution relationships with major consulting, advisor and RIA organizations. She will report to George Revoir, senior VP, Distribution. READ MORE

By John Ortman4/22/2014 • 0 Comments

Last week’s top five most-read posts on NAPA Net reflected keen interest in TIAA-CREF’s acquisition of Nuveen, Victory’s acquisition of Munder Capital, Jerry Bramlett’s take on an advisor’s value-add when it comes to large-cap value, the latest chapter in Detroit’s bankruptcy saga, and the possibility that Wells Fargo will be next to jump into the acquisition pool. READ MORE

By John Ortman4/21/2014 • 0 Comments

An April 22 webcast featuring NAPA’s Executive Director/CEO Brian Graff and Director of Government Affairs Ronald J. Triche marks the debut of NAPA’s new Washington Update webcast series. In this 60-minute, complimentary member-only webcast, Graff and Triche will update NAPA members on the latest developments on Capitol Hill and inside the DOL, the IRS and other federal agencies, and more. READ MORE

By John Ortman4/18/2014 • 0 Comments

More than brand, technology, service, products or even Morningstar ratings, a plan advisor usually chooses a provider — especially a DCIO — based on the quality of their local wholesaler. What separates the truly elite DC wholesalers from the rest of the pack? READ MORE

By John Ortman4/11/2014 • 0 Comments

Recent studies have highlighted the importance of adequately factoring in Americans’ increasing longevity in retirement planning, most often focusing on the cost of health care in retirement. That focus on health care, however, “is overshadowing a very tangible and personal challenge that needs to move front and center” in the retirement planning discussion, notes Legg Mason’s Gary Kleinschmidt. That challenge: the cost of long-term housing in retirement. READ MORE

By John Ortman4/2/2014 • 0 Comments

Proposals to create new government-run retirement plans for private sector employers are sprouting in state capitals all over the country. What’s behind this push? In his most recent Washington Update video, NAPA Executive Director/CEO Brian Graff offers his inimitable take on this question. To view, just click on the video in the right margin. READ MORE

By John Ortman4/1/2014 • 1 Comments

Rep. Dave Camp (R-MI), chairman of the House Ways & Means Committee, announced March 31 that he will not seek reelection this year. In a statement announcing his retirement from the House at the end of the current congressional term, Camp indicated that his goals for the remainder of his term include “fixing our broken tax code.” READ MORE

Don Trone

Don Trone

By Don Trone4/29/2014 • 2 Comments

As a NAPA member, you should be very familiar with the term procedural prudence. The term is the cornerstone to an understanding of a fiduciary standard of care. I associate procedural prudence with three requirements. READ MORE