The Fundster 401k Roundup, August 9-30
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Friday, August 30, 2019

The Fundster 401k Roundup, August 9-30

DC I-O Dispatches

Class-action lawyers filed a $300-million lawsuit against a jumbo 401(k) plan sponsor over the performance of the target date funds (collective trusts, not mutual funds) in the plan. One of the plaintiff's attorneys explained how the lawsuit came about.

On July 31, after more than three decades in the industry, a top executive retired from a $17-billion-AUM asset manager specializing in stable value.

A DC SVP recently left Pimco after two years with the bond fund giant.

Nine years in, a DC I-O VP recently left American Century.

A big open architecture recordkeeper will add Russell Investments' PRAs as the first offering on a platform thanks to a new tech connection.

George Philip Waldeck, Jr.
Prudential Retirement

RKer Reports

On December 1, Prudential Retirement's chief will pass the reins while rising to lead Prudential Financial's Workplace Solutions Group (which includes both retirement and group insurance).

On September 9, a new chief product officer will join Empower Retirement.

401kWire talked to Nationwide's new retirement plan chief, who also recently picked his new distribution chief.

Ladenburg Thalmann, an independent broker-dealer network with more than 4,000 FAs, teamed up with an open-architecture recordkeeper for a bundled 401(k) product.

TPA Talk

On August 9, Ascensus' FuturePlan arm acquired again near Phoenix.

Aggregator Accounts

A benchmarking firm launched a dashboard for 401(k) plan advisors (KPAs), and a KPA-focused RIA/OSJ signed on as the debut client.

Government Gossip

On Monday, U.S. President Donald Trump made his next DoL chief pick official by announcing his intent to nominate.

Advisor Updates

Last week, four KPAs and two retirement-focused fintech entrepreneurs won the first ever DC Genie Awards, from 401kTV.

Other Items

On August 19, a new retirement chief joined one of the wirehouses.

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

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