The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The Fundster 401k Roundup, March 30-April 12 Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, April 12, 2019

The Fundster 401k Roundup, March 30-April 12

Reported by Neil Anderson, Managing Editor

The huge 401(k) news long-awaited by the whole industry is finally here. On Tuesday morning, the Principal Financial Group team unveiled a deal to buy Wells Fargo's institutional retirement and trust (IRT) division for up to $1.35 billion; the deal would create a recordkeeper with more than $500 billion in assets for 7.5 million participants across 56,000 plans. Renee Schaaf, head of Principal's retirement and income solutions (RIS) division, talked to 401kWire about the pending deal.

Another big recordkeeper that's part of a different publicly traded multinational is reorganizing, bringing familiar faces back to the retirement plan business.

M&A continues on the advisor side of the 401(k) business. Two giant 401(k) plan advisor (KPA) RIAs, one in Chicago and the other outside Philadelphia, are selling to larger, non-KPA firms. A third big KPA team in Atlanta is changing shops. All three teams have more than $10 billion in retirement plan AUA each.

Bill Yoerger, a longtime recordkeeping chief, has returned to the 401(k) business, but not with a recordkeeper.

Some big financial services firms, including venture capital affiliates of several DC I-O players, participated in a $30-million series B round for an advisor-focused 401(k) fintech startup. And an ex Charles Schwab retirement exec joined Russell Investments.

Earlier this week, KPAs and other industry insiders (official estimates top 2,500) gathered in Las Vegas for the year's biggest 401(k) industry conference, the 2019 NAPA 401(k) Summit.

As always, this edition of MFWire's Fundster 401k Roundup column is powered by our DC-focused sister publication, 401kWire

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use