Practice

Senators Herb Kohl (D-WI) and Mike Enzi (R-WY) have proposed the Savings Enhancement by Alleviating Leakage in 401(k) Savings Act (SEAL), which would limit the number of loans that participants can take from their 401(k) to no more than three at a time.

Despite the widely held belief that younger investors have become tremendously risk-averse due to the economic crisis, Vanguard is finding that younger investors have increased their equity exposure considerably.

Since most participants accept the deferral rates that are automatically set in 401(k) plans, sponsors should increase those rates to at least 6% or higher, The Principal says.

Deciding what do to with an old 401(k) or other workplace retirement plan may not seem complicated, but a surprising number of participants do not understand which options are available to them, according to a survey by Fidelity Investments.

If financial advisors really want to increase the likelihood that their clients will commit to and execute on the retirement savings plans they've devised, they should ask less questions, use lots of simple visual aids and talk to them like eight-year-old children.

Corporate cultures will ultimately define how far social media tools go in helping banks and financial services firms deliver services to customers.

Financial institutions should be aware of what investors are posting about their firms to sites like Twitter.

Bank of America has hired Morgan Stanley's chief information officer of enterprise infrastructure, David Reilly, away to be CTO of B of A's Global Wealth and Investment Management team.

Frank LaRosa, a senior vice president and office manager at Morgan Stanley Smith Barney’s Philadelphia branch has been terminated, a firm spokesman confirms.

The Financial Industry Regulatory Authority has proposed that broker-dealers disclose any revenue-splitting arrangements they have with mutual funds at the time they sell their shares to investors.