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Investment Management

Robinhood’s bid to undo the Bay State’s fiduciary rule holding broker-dealers to the same standard as investment advisers hit a roadblock after the state’s high court reversed a lower court’s ruling that the Massachusetts Secretary of Commonwealth lacked authority to adopt the rule. The Aug. 25... READ MORE
Tech Talk discusses the Government Accountability Office’s observation that investment options are generally more limited for 403(b) plans than they are for other qualified retirement plans.  READ MORE
Millennials have had a rough week of it, at least in the financial press. First there was a report that they had established asset allocations that mirrored that of their grandparents (the respondents apparently never heard of a target-date fund). Then a separate survey that indicated they (70% of... READ MORE
Amid the clouds of gloom that threaten the retirement security of some generations, there is a relative bright spot, at least according to one analyst—Generation Z.  Gen Z—defined by the Transamerica Center for Retirement Studies as those born between 1997 and 2012—so far are exhibiting hopeful... READ MORE
Until recently, the federal law governing most private retirement was seldom a subject of national headlines—let alone the subject of an Instagram reel by the Speaker of the House.    But Speaker Kevin McCarthy and others have proclaimed that it now allows investment managers for many workplace... READ MORE
Editor’s Note: This is part one of a 3-part series. Also see the four accompanying charts at the end for complementary information. Tax-exempt organizations have the choice of setting up either a 403(b) or a 401(k) plan. Adding to that list are the governmental public education employers (public... READ MORE
The National Council on Aging (NCOA) and UMass Boston find that 80% of older Americans, or 47 million people, can’t sustain a financial shock such as needing to pay for long-term care services and supports (LTSS) or the loss of income due to divorce or widowhood. “It is unacceptable that nearly... READ MORE
Editor's Note: This feature in the NTSA Advisor provides a look at what’s going on in the states and the most recent developments in their activity to provide and enhance retirement plan coverage. Bills before the legislatures in Minnesota, Maine, and Illinois would adjust retirement savings... READ MORE
U.S. Supreme Court Justice Louis Brandeis, associate justice on the Court from 1916 to 1939, wrote in the 1932 ruling in New State Ice Co. v. Liebmann that "a single courageous State may, if its citizens choose, serve as a laboratory; and try novel social and economic experiments without risk to... READ MORE
One day after the Republican-led House of Representatives approved a resolution to block the Labor Department’s so-called environmental, social and governance (ESG) rule, the Senate followed suit. Joining all Republican senators in supporting the resolution (H.J. Res. 30) were Democrats Joe... READ MORE
Does a plan sponsor violate a duty of loyalty when considering retirement plan participant preferences?  Here’s what Tim Hauser, Deputy Assistant Secretary for Program Operations of the Employee Benefits Security Administration (EBSA), had to say.  “We added a provision that expressly says the... READ MORE
On Jan. 30, the final rule titled “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights” — a.k.a. the “ESG rule” — became effective. American Retirement Association CEO Brian Graff recently sat down with the Employee Benefits Security Administration’s Tim Hauser to... READ MORE
In the face of prolonged economic uncertainty and volatility, many investors are rethinking what life after retirement may look like and are adjusting their priorities accordingly.  According to Nationwide Retirement Institute’s eighth annual Advisor Authority, nearly 7 in 10 (69%) non-retired... READ MORE
The outlook for RIA M&A activity apparently has shifted dramatically from a year ago, according to a new report. DeVoe & Company’s fifth annual M&A Outlook Report finds that expectations for M&A activity and valuations are the lowest in the survey’s history, as economic and... READ MORE
While Americans worried most about the impact of the COVID-19 pandemic earlier this year, they now see rising inflation as the biggest risk to their retirement plans.  According to Allianz Life’s annual New Year’s Resolutions Study, nearly half (48%) of respondents identified the pandemic as the... READ MORE
Actuaries and mathematicians will tell us that the “actuarial cost” of any annuity you may purchase is effectively the same, no matter what sort of annuity you purchase, writes Robert Toth in MarketBeat. After all, he continues, your life expectancy is what it is; the interest rates are what they... READ MORE
Net growth in advisor affiliations has been a challenge for many broker/dealers (B/Ds) as increased competition from alternative affiliation options such as independent and hybrid registered investment advisor (RIA) affiliations gain popularity among financial advisors.   This is according to... READ MORE
Rep. Andy Barr (R-KY) and Sen. Mike Braun (R-IN) have introduced a Congressional Review Act (CRA) measure in the House and Senate, respectively, to nullify the Department of Labor’s recently finalized rule to greenlight environmental, social and governance (ESG) investing in federal pension plans... READ MORE
A little more than a week ago, the U.S. Department of Labor unveiled its much-anticipated final ESG rule.  There’s a lot to unpack in that regulation (and the rest of the 236-pages that help explain its process and rationale), but here’s a few things that seem particularly important to note at the... READ MORE
  Given expectations of higher interest rates, inflation and volatility, institutional investors enter 2023 with a gloomy view of the economy, but they do still see opportunities in the market, according to new survey findings.  Natixis Investment Managers (Natixis IM) surveyed 500 institutional... READ MORE