Money Management Executive Latest News

Mercer’s U.S. outsourcing business has begun including retirement income from Financial Engines in its defined contribution platform. Financial Engines says its Financial Engines Income+ is the first retirement income solution designed specifically for 401(k) plans.

U.S. households held $10.7 trillion in retirement assets at the end of 2010, Hearts & Wallets said, culling information from the Federal Reserve Flow of Funds and U.S. Census data. This is just above the previous high of $10.5 trillion reached in 2007, and a big climb from the $2.4 trillion loss in retirement assets in the crash of 2008, when these assets fell to $8.1 trillion.

Prudential has just released preliminary survey results indicating that when shopping for retirement plans, consumers between the ages of 18 and 36 are more interested than those over age 45 in guaranteed income features. The company is leveraging these results with additional features, including security, to certain plans offered by Prudential Retirement.

Schwab Charitable has launched the Charitable Legacy Program, to enable individuals to extend their charitable giving beyond their lifetimes.

Financial advisers can now purchase T. Rowe Price Advisor Class shares for their clients at no transaction fee (NTF) on the Schwab Mutual Fund OneSource platform.

Putnam Investments has named industry veteran Stephen Jenks head of product and marketing for its defined contribution business.

The Department of Labor issued new regulations that aim to broaden access to personalized investment advice for workers engaged in retirement savings plans.

With Europe in the grip of a massive debt crisis, U.S. unemployment still near double digits and global markets roiling on what seems an unending rollercoaster ride, the impact from the 2008 financial meltdown has been nothing if not severe.

Confluence, NICSA, Genworth Financial

Since the financial crisis of 2008, Corporate America has proven it can carry out a singular focus on cost cutting and downsizing. And, as the Occupy Wall Street folks would argue, overzealously hoarding cash.