African-Americans Remain a Viable, Untapped Advice Market
Despite an increase in wealth, a proven track record of financial progress and greater overall financial confidence, African-Americans are being ignored by advisors.
Low Interest Rates Wallop Retirees: EBRI
The low-interest-rate environment “has an extremely large impact on failure rates” when it comes to meeting retirement goals, EBRI's research director says.
Borzi: DOL to Offer New Version of Fiduciary Rule in ‘Several Months’
The DOL plans to repropose its controversial rule to amend the definition of fiduciary under ERISA “in several months,” Phyllis Borzi the DOL’s EBSA, told AdvisorOne on Friday.
New Hire Roundup: Mullis Joins Securities America; BlackRock’s New Strategist
This week in new hires, Michael Mullis became a registered rep with Securities America; BlackRock named Russ Koesterich its new chief investment strategist; and Michael Davis left EBSA for Prudential.
Americans Want Retirement Plan Disclosures on Paper
Believe it or not, a survey released Thursday by AARP found that the majority of respondents prefer to read retirement plan information on paper rather than with electronic media.
Borzi’s Right Hand Man, Davis, Leaves EBSA and Joins Prudential
Michael Davis, Phyllis Borzi’s right hand man at the DOL’s Employee Benefits Security Administration, has left his post as Deputy Assistant Secretary of EBSA and joined Prudential Retirement.
New Hire Roundup: Casares Joins Genworth; Stratos Adds Three
This week in new hires, Rico Casares joined Genworth Wealth Management, and Stratos Wealth Partners welcomed three advisors to two new offices.
Lawmakers Grill DOL’s Solis on Fiduciary Duty Redraft
At a House hearing, lawmakers took Labor Secretary Hilda Solis to task Wednesday over how the DOL’s recrafting of its fiduciary rule is progressing—specifically on the timing of the re-proposed rule and the rule’s inclusion of IRAs.
401(k) Fee Disclosure Rules ‘Good for Participants,’ Labor Official Says at ASPPA Summit
“Retirement historically has been about accumulation. Now it’s all about decumulation,” Michael Davis, deputy assistant secretary of labor, told Brian Graff at the 2012 ASPPA 401(k) Summit on Monday in New Orleans.
DOL Eyes IRA Exemptions to Fiduciary Rule on Revenue Sharing, Principal Trades
At FSI gathering, DOL official says reproposed fiduciary rule on IRAs may include exemptions around revenue sharing and principal trades.