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Fidelity, Voya and BoA smooth BlackRock's launch of guaranteed-paycheck ETFs but 401(k) plan participants may yet balk at high, unseeable fees and intangibility of benefits

Big recordkeepers greenlit Wall Street asset manager's novel 'Paychecks' product, with BlackRock expressing ambitions to also expand the product to non-retirement accounts

Author Lisa Shidler May 11, 2024 at 3:31 AM
1 Comment
no description available
Larry Fink: I believe it will be, one day, the most used investment strategy in defined contribution plans.
Brooke Southall and Keith Girard contributed to the editing of this article.

401(k) Stories


John Phoenix

John Phoenix

May 11, 2024 — 7:11 PM
I’ve always been against using annuities in a qualified vehicles. It preys on consumer’s fear and seems to only benefit the insurance companies, asset managers and advisors pushing them. A 1.5% expense ratio is going to lead to some raised eyebrows at the DOL.

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March 25, 2023 at 1:32 AM

Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs

BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..

January 13, 2023 at 3:01 AM

Breen Blitz: Mercer seals Vanguard OCIO buy • Goldman[Sachs] & Cohen split • PIMCO joins ETF shift • AdvisorEngine-Schwab bond grows • Ellevest milestone • Lonsdale nets new chief • Fidelity leaks data & staff move • Collation wins RIAs • Justin Wisz returns as investor • LPL nets CMO & Tifin a CEO

OCIO sale to Mercer may be Buckley's last act • Goldman's retail lead departs • PIMCO latest to convert mutual funds • Software firm upgrades Schwab data • Krawcheck preaches wisdom of naps • Fidelity hit by data snafu, but D&I on track • New Lonsdale tech shop imminent • Vestorly founder now funding start-ups • Eight month wait for CMO ends at LPL.

March 21, 2024 at 4:41 AM

Fidelity lays off 700 -- not for costs or [bad] performance -- but to shift headcount and hire more client-facing and tech staff, touching off 'panic posting' on job board

The $12.6 trillion Boston investments eyes 2,000 new hires to speak directly to clients or develop more tech products, but lack of clarity jars some staffers

March 12, 2024 at 1:08 AM

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