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

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

Rating:The Fundster 401k Roundup, June 14-August 9 Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 09, 2019

The Fundster 401k Roundup, June 14-August 9

Reported by Neil Anderson, Managing Editor

RKer Reports


Joseph Francis Ready
Wells Fargo
Head of Trust & Fiduciary Services, Chief Fiduciary Officer, Wealth & Investment Management (WIM)
Late last month, another open architecture recordkeeper bought Tampa, Florida-based Aspire Financial Services. Combined, the two shops have a team of 300 working with 16,000 plans, 750,000 eligible participants, and more than $23 billion in assets under administration.

On July 1, Principal closed on its planned, ten-figure acquisition of Wells Fargo's institutional retirement and trust (IRT) business, roughly doubling the size of Principal's U.S. retirement business. While some top IRT executives took on leadership roles within Principal's retirement and income solutions (RIS) unit after the deal closed, IRT chief Joe Ready and at least one of his top lieutenants stayed at Wells.

Two merging banks will put their retirement plan under a new brand after the deal closes.

A new chief took over Nationwide's retirement plans business last month, after the promotion of John Carter.

A Texas recordkeeper bought two recordkeepers, one in Ohio and one in California. The acquirer is still on the hunt.

On January 1, a new CEO will succeed longtime Ascensus chief Bob Guillocheau, who will stay on as chairman.

A new chief recently took over Mutual of Omaha's 401(k) business.

On Monday, Voya will launch a joint venture that is expected to grow to more than 1,000 people over time.

DC I-O Dispatches


A trio of DC I-O national accounts executives left Invesco after the OpFunds deal. One of them joined Franklin Templeton.

A veteran ERISA legal eagle fundster died last month at the age of 74.

An OppenheimerFunds DC I-O alumnus recently joined Pimco.

Government Gossip


Last month, after U.S. Secretary of Labor Alex Acosta resigned, U.S. President Donald Trump revealed his choice to replace Acosta.

Also last month, the folks at the Internal Revenue Service (IRS) proposed a rule change to address the so-called "one bad apple" problem in multiple employer plans (MEPs).

Then last week, the Employee Benefits Security Administration (EBSA) team at the Department of Labor (DoL) finalized its new MEP rules, for association retirement plans (ARPs) and MEPs from PEOs. Though many DC industry insiders praised the new rules, they're still eagerly waiting on followup moves by the DoL and Congress.

Aggregator Accounts


Sources familiar with the situation say that multiple potential bidders have been in talks about potentially buying a certain 401(k) plan advisor (KPA) aggregator based in southern California.

On July 1, CBIZ bought an RIA in Tennessee.

TPA Talk


A Minnesota TPA is boosting its business by 50 percent by buying another Minnesota TPA.

Other Items


A big bank spun off its 14-year-old, direct 401(k) business late last month. The business' management team led the buyout, and alumni of the bank also chipped in.

Broadridge, parent of 401(k) trustodian Matrix, closed on its latest retirement plan industry acquisition.

The FIS retirement solutions team recently welcomed back a top SunGard.

A digital 401(k) startup recently raised $15.4 million in its series B funding round.

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
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - Gamification of Securities Trading: Fad or the Future?, April 14
  2. IDC Speaker Series - Diversity, Inclusion, and Implicit Bias: An Interview with Song Richardson, April 14
  3. IDC Virtual Roundtable: New Jersey and Pennsylvania - April 2021, April 15
  4. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  5. The 31st Sub-Advised Funds Forum, Apr 20-21
  6. ETF.com Awards 2020, April 20
  7. IDC Virtual Roundtable: Florida - April 2021, April 20
  8. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  9. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  10. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  11. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  12. IDC Webinar: The Future of the Workplace - April 2021, April 23
  13. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  14. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  15. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  16. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  17. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  18. ICI 2021 General Membership Meeting - Day 1, May 6
  19. Emerging Manager Forum USA, May 12-14
  20. ICI 2021 General Membership Meeting - Day 2, May 13
  21. 2021 FINRA Annual Conference, May 18-20
  22. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  23. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  24. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use