News, Vision & Voice for the Advisory Community


Vanguard Group becomes second domino to fall in 401(k) recordkeeper detente on plan portability, and the push is on to cajole Fidelity, the DC king, to follow suit

The $8 trillion Malvern, Pa., asset manager signed a deal with Retirement Clearinghouse to address its $1.8 billion of record-kept plan assets, which suffer universally despised pension 'leakage' that drains minority-held accounts.

Author Lisa Shidler
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Robert Johnson: “Our industry must safeguard against retirement plan leakage, which particularly affects black and brown workers.

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RIA recap: Bernie Clark promises to 'be there' for coming TDA-Schwab system snafus; Fidelity gets custody win; Vanguard dishes out big tax bill to investors

Schwab RIA chief petitions for 'patience' for coming merger inconveniences but 'repapering' is no culprit; Carrie Pomerantz gets Schwab board seat; Addepar wins $65 billion AUM contract.

November 3, 2022 at 1:59 AM

Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too

The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.

October 29, 2022 at 12:02 AM

Dimensional Fund Advisors, long the flagship of factor investing, struggles to chart a course as a nimble rival and big foot competitors cut into its market--and exploit its slow move to ETFs

Vanguard, BlackRock and Avantis rattle a complacent Dimensional Fund Advisors with fee cuts and ETF roll outs based on 'smart beta.'

August 9, 2022 at 1:57 AM

With no-holds-barred perks, Fidelity Investments hit bullseye on its 'monstrous,' single-quarter, 9,000-employee hiring spree and keeps recruiting on overdrive

The $11-trillion-plus giant will also likely achieve its overarching task to net 7,000 employees but growth means the hiring machine needs to keep churning.

January 11, 2022 at 2:04 AM

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September 25, 2021 — 3:49 PM
I agree that cashing out accounts is a huge problem for saving for retirement (see also the never ending loan cycle for some participants). However, the onus on rolling over money to an IRA is not on the participant from $1,000 to $5,000, but on the employer. The employer must establish an IRA for the participant. The issue here is that these tiny balances aren't necessarily tracked by the participant, and there can be tiny balances all over the place. The idea here seems to be from preventing multiple accounts going all over the place. Really you want participants to not look at their money as an insignificant amount and just leave it in place. And build up accounts quicker, encouraging employers to use auto enrollment and auto escalation, which would mean employees would have to opt out rather than opt-in. Also, really stress the tax consequences of an early withdrawal.

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