While lawmakers focus on the transparency of 401(k) fees, Dow Jones Columnist Robert Powell suggests they pay more attention to the default investments allowed by last year’s Pension Protection Act. Powell notes that the usual suspects: target date, by which investors choose portfolios that morph slowly as they approach retirement, and target risk, though which investors decide what level of risk they are willing to take, but does not significantly change. “The two types of mutual funds that will soon become the default investment options for millions of Americans come with some drawbacks,” Powell wrote. Citing a study by
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An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.
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After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.
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During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.
April 18 -
Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.
April 18 -
Romantic partners usually agree on their broad retirement goals, a new Ameriprise study shows. But the consensus breaks down over smaller questions.
April 18 -
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
April 17