February being Black History Month, this is an appropriate time to acknowledge notable African American financial advisers of the past. Before the late 1960s, when hiring discrimination on Wall Street was an open secret, the fact there were any African ...

In a move that should accelerate the convergence of wealth and retirement at work and concern all RPA aggregators that lack a robust wealth management practice, Creative Planning has acquired Lockton’s retirement division. The transaction, which marks the first time ...

Like a tropical storm threatening to become a hurricane as it picks up power, record-keeper consolidation in the adviser-sold 401(k) market continues. Last week’s announcement that Ascensus was purchasing Newport Group comes on the heels of Empower’s acquisitions of the ...

Prudential Financial has reorganized its remaining retirement business units, creating Prudential Retirement Strategies, which will serve individual and institutional customers. The changes follow the July announcement that Prudential is selling many parts of its retirement business, including its defined-contribution, defined-benefit, ...

SeaWorld this week was sued by several participants in its $310 million 401(k) plan, allegedly for letting fees for investments and service providers run out of control. Part of the case involves adviser compensation. In the proposed class-action suit filed ...

Record-keeper consolidation is happening even faster than predicted, in part because of the recent Empower buying spree, which continued recently with its purchase of Prudential’s retirement business. But what does that mean for both specialist and generalist retirement plan advisers? ...

More than 30 leading voices in the U.S. retirement industry released a letter Wednesday urging President Joseph Biden to issue an executive order to create a standing interagency task force on retirement security. “The proverbial three-legged retirement stool is shakier ...

Empower Retirement’s massive deal announced today to buy Prudential’s retirement plan business marks the second major acquisition the company has made in less than a year. Last year, the Greenwood Village, Colorado-based plan provider picked up MassMutual’s defined-contribution business via ...