The Morningstar study examined saving, investing and wealth differences between typical in-office employees and remote workers. The latter tend to be older and more highly compensated, both of which correlate with different investing habits.
Revenue sharing fees ultimately make retirement plans more expensive, and funds that include them are disproportionately favored on plan menus, a recent academic paper found.
Fintech and digital record keeper Vestwell is among about three dozen firms that have registered as pooled plan providers with the DOL, but the firm does not yet have information on pricing and plan design for a potential PEP product.
The plaintiff failed to raise issues with the company's process of selecting and monitoring funds, a judge wrote
The company was already targeted in another class-action case over the target-date series and managed account options in its plan
The managed-account service will stand out in the marketplace because it will be embedded in Vestwell’s technology, rather than located away from a record keeper and within an investment manager’s system, a detail that will help the firm compete on cost
The savings vehicles are only available in one adviser-sold program, though 43 states provide direct-sold options
The deal follows other major announcements, including the purchase of Compass Financial Partners and a majority stake acquisition in Sageview Advisory Group
Consolidation has been a theme of late in the retirement plan adviser world, and private equity has increasingly poured money into the space, which has helped push valuations to high points, leading to ample selling opportunities for adviser firms
Four years ago, a financial adviser got a call from a prospect who did not want to disclose any information over the phone. At the in-person meeting, the woman and her husband told the adviser that she had won a $1.2 million jackpot.
