Results for "retirement"

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Fidelity sales tactics called out in settlement of retirement plan lawsuit

April 23, 2019

The marketing and sales tactics Fidelity Investments uses with retirement savers were called out in a lawsuit involving alleged retirement-plan mismanagement by Vanderbilt University, bringing into focus the ongoing and seemingly increasing...

A new way to look at retirement income planning

April 22, 2019

Retirement income is a major concern among upcoming retirees, with 46% of Americans predicting they won't have enough money once they leave the workforce. Compounding these fears, 10,000 baby boomers retire every day. This translates to the...

Social Security funding outlook improves slightly

April 22, 2019

The long-term funding outlook for Social Security's retirement and survivor benefit programs has improved slightly, while the timing of the depletion of the disability program's reserves was extended by 20 years, according to the 2019 trustees'...

The drawback of Richard Thaler's 401(k)-Social Security idea? Social Security itself

April 22, 2019

Nobel laureate Richard Thaler's idea to increase retirees' Social Security payments by using a portion of their 401(k) accounts is drawing criticism from some corners of the financial-advice industry, primarily due to the current less-than-stellar...

Older Americans are twice as likely to work now as in 1985

April 22, 2019

Just as single-income families began to vanish in the last century, many of America's elderly are now forgoing retirement for the same reason: They don't have enough money. Rickety social safety nets, inadequate retirement savings plans and...

Richard Thaler wants to use 401(k)s to boost Social Security payments

April 18, 2019

Nobel laureate Richard Thaler wants to mesh 401(k) plans with Social Security benefits to help Americans simplify what is perhaps their most daunting and complex financial issue: drawing down retirement assets. Mr. Thaler, who won the Nobel...

Grown children may be hazardous to your wealth

April 18, 2019

Baby boomers redefined parenthood over the past few decades, often serving as friend and confident — as well as banker — to their now adult children. Many continue to subsidize their offspring's living expenses well into early adulthood,...

401(k) advisers are battling on multiple fronts

April 15, 2019

Advisers specializing in the retirement-plan business are engaged in battle on multiple fronts — and none of the conflicts have easy answers. Fifteen years ago, when a majority of retail 401(k) plans were sold direct — not through intermediaries...

The cost of putting off enrolling in a Medicare drug plan

April 15, 2019

I heard from a financial adviser in Florida recently who asked if there was anything her clients, a married couple ages 69 and 70, could do to avoid paying a delayed enrollment penalty for their new Medicare Part D prescription drug plan. "They...

Creativity matters when planning for lone retirees

April 12, 2019

When a client is an older woman, who has never married and has no children, or close relationships with other natural heirs to leave her considerable wealth to, extraordinary planning steps and creative thinking are needed. Multiple professionals...

Rising rich boost stature, growth of family offices

April 12, 2019

In Rhona Vogel's line of work, family comes first. As CEO and founder of Vogel Consulting, a wealth management firm based in Brookville, Wisc., she manages the personal fortunes and increasingly complex financial lives of about two dozen wealthy...

Fidelity wants to own the workplace — and beyond

April 12, 2019

Fidelity Investments is taking control of the workplace. Need a retirement plan for employees? Fidelity has that. Want to offer a student loan benefit? Roger that. How about payroll services? You got it. Health savings accounts, charitable giving...

How behavioral technology will improve retirement planning

April 12, 2019

Technology has always been the great disrupter. When robo-advisers came around, traditional advisers began preparing for battle. Now financial advisers are largely embracing technology, using it to free them up to be a better adviser. But technology...

After losing billions in assets, giant hybrid RIA set to open broker-dealer

April 11, 2019

On the verge of opening a new broker-dealer, William Hamm over the past year has seen billions of dollars in assets and hundreds of reps and advisers walk out the door of his firm, Independent Financial Partners, a hybrid RIA. A year ago, InvestmentNews​...

Principal-Wells Fargo retirement deal hints at fee compression

April 11, 2019

The blockbuster deal inked by Principal Financial Group and Wells Fargo & Co. earlier this week provides a glimpse into the economics prevailing in the defined-contribution-plan record-keeping business. Specifically, the deal's $1.2 billion...

401(k) lawsuit over Vanguard fees ends with $23.7 million settlement

April 10, 2019

Health insurer Anthem Inc., sued by employees who claimed its 401(k) retirement plan had excessive fees even though its provider was the Vanguard Group, has settled the case for $23.7 million. The lawsuit was originally filed in December 2015...

Principal to buy Wells Fargo retirement unit for $1.2 billion

April 9, 2019

Principal Financial Group Inc. agreed to buy Wells Fargo & Co.'s retirement plan services unit for $1.2 billion as the bank streamlines operations in the wake of scandals. The business, which has $827 billion in assets under administration,...

5 things clients learned about Roth conversions this tax season

April 9, 2019

This tax season was the first under the new tax law, the Tax Cuts and Jobs Act. Roth conversions were one of many areas where the actual impact of the changes was seen firsthand as 2018 tax returns were prepared. Here are five items that surprised...

Another 401(k) plan sues Fidelity over 'kickbacks'

April 8, 2019

A participant in the Publicis 401(k) retirement plan has filed a class-action lawsuit against Fidelity Investments, charging that the record keeper received kickbacks from other fund companies whose funds are offered in the program. The suit,...

401(k) advisers may be this type of fiduciary — and not know it

April 8, 2019

Retirement plan advisers often act as investment fiduciaries for 401(k) clients, helping plan sponsors select and monitor funds to offer their employees. However, such actors also have fiduciary responsibility concerning the digital operation...

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