MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, May 3, 2019 The Fundster 401k Roundup, April 12-May 3 DC I-O DispatchesOn the DC I-O side of the business, a publicly traded bank's asset management is now talking to plan sponsors and distributors about a new kind of non-guaranteed retirement income product.
Cohen & Steers is anticipating big DC I-O progress. Hand Benefits & Trust (HB&T) is helping an upstate New York shop launch ESG collective funds. RKer ReportsEd Murphy is expanding the Empower Retirement C-suite by three. Meanwhile, Aimee DeCamillo is passing the reins at T. Rowe and joining an insurer. Renee Schaaf, head of Principal Financial Group's retirement and income solutions division, talked about the three guiding principles that will guide the integration of their impending acquisition, Wells Fargo's institutional retirement and trust division. Meanwhile, John Moody is preparing to combine two recordkeepers' under one brand. The Boston Behemoth is bundling 401(k) recordkeeping into a new, integrated benefit services solution for small and mid-sized businesses. Managed Account and Model MessagesMorningstar launched a new 401(k) managed accounts platform that can be customized by 401(k) plan advisors (KPAs), giving KPA-focused DC I-Os more of a shot inside such managed accounts. Morningstar is also expanding its Vestwell alliance to offer Vestwell-friendly KPAs access to target date model portfolios. Capital Group's American Funds will be integrated into Empower's TDF-managed account combination product. And Empower is teaming up with other asset managers, too. Other ItemsBroadridge, the parent of Matrix, has agreed to buy another retirement plan custody and trust business later this quarter. The deal is expected to boost Matrix to more than $420 billion in AUA and more than 118,000 plans, while adding about 50 people to the Matrix team. The BrightScope brothers have reunited at a data startup focused on cryptocurrency and raised $6 million in seed funding. As always, this edition of MFWire's Fundster 401k Roundup column is powered by our DC-focused sister publication, 401kWire! Printed from: MFWire.com/story.asp?s=59670 Copyright 2019, InvestmentWires, Inc. All Rights Reserved |
