Practice

President Obama outlined a series of initiatives the federal government would take to help people boost their retirement savings, including allowing them to direct tax refunds, pay raises and unused vacation pay to their nest eggs.

In the eight months since their launch in January, Putnam Investments' new family of absolute-return mutual funds has attracted more than $400 million in new investments and, according to the firm, is on track to top $1 billion by the end of the year.

Mutual fund advocates are rallying together in preparation for a key Supreme Court battle this fall that could drastically change the way fund companies structure their fees.

Paul Myners, the U.K.’s financial services minister, told the nation’s hedge fund industry to stop opposing transparency reforms that the European Union has proposed through the Alternative Investment Fund Managers directive.

These firms topped the list of the best variable-annuity websites for advisors in a new survey by kasina.

On the eve of “401(k) Day,” Sept. 11, themed “Make Wise Choices” this year, the Profit Sharing/401(k) Council issued a statement praising the 401(k) as “an island of stability during the current economic crisis.”

Commonwealth Financial Network will require advisers to earn credentials in fiduciary practices or retirement planning as part of its new Retirement Plan Consulting Program.

Nearly half of those Americans who have retired are helping other members of their family, either by giving them money or managing their finances directly, according to the fourth Real Life Retirement quarterly survey from Charles Schwab.

Broadridge and NewRiver have partnered on summary prospectuses to offer clients a complete solution, with Broadridge offering print-on-demand and New River a database of digital mutual fund prospectuses and reports.

Morningstar is offering advisers in-depth research reports for 20 of the largest target-date mutual fund series, based on five components making up the “five P’s”: People, Parent, Performance, Portfolio and Price. A pared-down version is also available to individual investors.