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Friday, March 22, 2019|
The Fundster 401k Roundup, March 16-22
This week, the big 401(k) topic of discussion is word that a different bidder, another bundled provider, is now in the lead when it comes to trying to buy Wells Fargo's institutional retirement and trust (IRT) business. The rumored price tag on the deal continues to be upwards of $1 billion.
On the KPA side of the business, two big aggregators — private equity-backed insurance brokerage Hub and publicly traded super-regional broker-dealer Raymond James — recently hired senior DC industry veterans for key jobs. Meanwhile, the giant recordkeeper Empower is teaming up with KPA shops who want to customize managed accounts, potentially changing the dynamic for DC I-Os looking to gain placement for their products inside of such accounts.
As always, this edition of MFWire's Fundster 401k Roundup column is powered by our DC-focused sister publication, 401kWire. Check out the links for a deeper dive into the latest 401(k) news!
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