Variable annuity net new sales are expected to surge in the coming years after taking a dive in 2012, according to research firm Cerulli Associates.
As Roth 401(k) plans continue to spread, young workers increasingly are voting to go Roth. In the first quarter of 2013, 10% of all participants in Wells Fargo-administered defined contribution plans contributed to a Roth 401(k), when available, up from 8.9% a year earlier. Leading the way were employees under age 30: 16.9% chose the Roth route, a jump from 15.2% participation in last years first quarter. (Only 4% of participants in their 60s chose the Roth version this year.)
Wilmington Trust and BlackRock Institutional Trust Company are joining hands for a new suite of retirement funds.
Two-thirds of active U.S. equity assets are managed by defined contribution investment only managers, says a new joint report from FUSE Research Network and BrightScope.
Neuberger Berman Group has announced it will begin offering a zero-sales-charge share class.
T. Rowe Price Group has no immediate plans to begin offering active exchange-traded funds, the Baltimore Business Journal reports.
Money Management Executive recently spoke to Jim Jessee, president at MFS Fund Distributors, Inc., the distribution arm of the firm's U.S. fund business, and co-Head, Global Distribution, about the firm's "Building Better Insights" branding initiative and other trends he sees within and outside of the firm.
Hartford Financial Services Group Inc. last September put the brakes on its effort to sell its mutual-fund unit to private equity shop Clayton Dubilier & Rice LLC after banks cut back on lending for leveraged buyouts.
Charles Schwab's Retirement Plan Services unit in January made waves by going passive.
Principal Funds has added three new regional directors to the firm's investment only team: Marcel Dawson, Gary Nakamura and Pamela Suing, focusing on growth within the registered investment advisor distribution channel.