Articles tagged "401(k)"
'Portability' is set to boost and solidify $9.3 trillion 401(k) system by eliminating cash-outs, rollovers and fragmented (orphaned) plans
The Labor Dept. finally found the political will to make savers save and create a lifetime mentality -- with a boost from technology to make a decentralized system work in symphony.
February 6, 2024 at 2:53 AM
Vestwell extends micro-plan 401(k) sponsor dominance after JPMorgan white-labels its platform, yet -- conditioned by history -- analysts still question if 401(k) king Fidelity walks away with plans and rollovers as accounts mature
The New York City startup cleans up on the low end by having cheap, automated software and legacy providers content to let them dominate -- for now.
June 13, 2023 at 1:55 AM
With IRA inflows as tailwind, RIAs are taking over U.S. pension assets by the trillions as second act to 35 years of ransacking wirehouse talent and booty
Rollovers to individual retirement accounts hit a net $444 billion in 2021, Cerulli reports; advisors got 63% and the 401(k) cow is only going to get more productive.
February 9, 2023 at 5:23 AM
Goldman Sachs closes deal for NextCapital to extend a tentacle into the 401(k) market and yank out 'a thorn in the side of the retirement industry'
The New York City bank now owns a unit that had slowing growth pre-deal but may face fresh headwinds carrying the baggage of its new owner.
August 30, 2022 at 1:07 AM
ERISA attorney co-founds venture to take advantage of DOL's liberal new pooled 401(k) plan guidelines, a boon for RIAs looking to break into the business
The new San Diego firm will be a TAMP-like unit that gives a way for small companies to get big-plan leverage while still letting RIAs handle the investment advice, says CEO Jason Roberts.
June 23, 2022 at 6:56 PM
After co-founder Rob Foregger departs NextCapital, the CEO turns around and sells the company to Goldman Sachs, which calls it 'another tool'
The Chicago 401(k) robo-advisor became a ‘plug-in’ versus a ‘platform,’ relegating it to a guest role, a pragmatic move, yet, perhaps, diminishing its destiny.
April 6, 2022 at 4:48 AM
Pontera attracts yet another $45-million VC round for its 'held-away' 401(k) order management system and snags SageView, a $175-billion RIA, as a customer
The 10-year-old New York City firm nixed its FeeX brand and its old business model after RIAs said they wanted 'action' more than information.
March 24, 2022 at 11:19 PM
Betterment's net new clients jump 116%, in step with Sarah Levy's first few months at the helm, as burgeoning stock prices and Robinhood spillover lift the company Q1 results
Novice investors leave play money at the Silicon Valley broker but learn to value IRAs, portfolio management and tax help.
April 22, 2021 at 2:56 AM
Capitalize sees opening to serve RIAs with 401(k) rollover services on heels of DOL fiduciary rule and scores $12.5M from VC firms to make it happen
With DOL all but outlawing RIAs from advising investors from rolling pension assets to IRAs, New York startup that specializes in the hand-off steps into the breach for RIAs.
February 25, 2021 at 1:16 AM
The DOL's Trump-era reprieve from rollover fiduciary rigor is over with aspects of remedy that might 'scare the daylights' out of defense lawyers
The Biden DOL is cool with surprisingly toothy rules it inherited that are sure to cause some RIAs to scramble and may be easier for broker-dealers to manage.
February 13, 2021 at 2:29 AM
Capitalize gets $2 million from four top VCs on novel freemium idea -- to reunite investors with hundreds of billions in 401(k) assets held by their ex-employer
Founded by a 35 year-old who got his career start at hedge funds, the New York City firm will make sure your rollovers take place, paperlessly -- at least for you
November 3, 2020 at 10:07 PM
T. Rowe Price takes on the risk of its target date fund retirees outliving their savings -- by jacking up equity exposure even on the glide path
The Baltimore patriarch is using both actuarial and behavioral science as the basis for the contrarian move whose downside is accentuated as coronavirus gives the approach a rough start
March 2, 2020 at 6:13 PM
Fidelity Investments rewrites the 401(k) rollover script by allowing plan participants -- with a small catch -- to skip the IRA and have the plan sponsor hold the account post-employment
The $1.8 trillion AUA recordkeeping king eschews its own defined contribution scripture to reflect reality of inertia, better technology and the fact that IRAs are no longer yield so much milk and honey in a zero-fee, zero-commission world
February 25, 2020 at 2:46 AM
RIA Zen and the art of doing what's prudent -- even if you can't brag about it over beers
James Osborne confesses his guilty desire to make his practice more exciting and why he resists the temptations of adrenaline highs on behalf of clients
September 23, 2016 at 5:43 PM
RIAs stay the course in holding Schwab to its promise of an RIA-in-charge 401(k) plan with a promising result
Only when RIAs proved they'd only take 'yes' for an answer on open architecture and themselves installed as fiduciaries did their San Francisco-based custodian yield with just a minor Morningstar contingency