Review of Vanguard and Fidelity Fee Adjustment Highlights Industry Competition
Retirement plan investment product and recordkeeping providers are careful to present a friendly face in their marketing and even in...
Tag: Fees
Dismissal of Capital Group Self-Dealing ERISA Challenge Offers Fiduciary Insight
With the new opinion, the district court seeks to make clear where the line is when it comes to pleading...
Ruling in Charles Schwab Self-Dealing Suit Suggests Limits of Arbitration Agreements
For one thing, a federal court judge found the defendants provide no authority supporting their contention that a plan document...
Vanguard and Fidelity Fee Arrangement Shifts, Reflecting Industry Trends
Fidelity confirms that it will soon begin charging a 0.05% fee on assets invested through its platform into Vanguard products.
Greater Use of Passive Funds Built Directly on TDF Popularity
Looking at asset flow data provided by Wells Fargo, there is very little money going into the standalone index equity...
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SPARK Rolls Out Updated RFP Guide
The new edition aims to support the needs of employers providing defined contribution plans by enabling service providers to prepare...
Economies of Scale Strongly Benefit the Largest Plans
Institutional investors with less than $1 billion in assets paid 65% more for investment management than medium-size funds ($1 billion...
ERISA Litigation Shows No Sign of Slowing in 2018
Proprietary fund lawsuits are viewed by plaintiffs’ firms as one of the types of excessive fee cases that are likely...
Nonprofit Plan Sponsors Still Confused About Fee Levelization
Data shows about one-fourth of nonprofit plan sponsors are not aware of what comprises a formal fee policy statement, and...
401(k) Fees Can Cost an Average Working Couple More Than $150K
For someone making $90,000 a year, that would jump to $277K, America's Best 401k says.
CenturyLink Faces ERISA Lawsuit on Custom Large Cap Fund Design
The complaint seeks to state a claim—without relying on hindsight—by arguing the underperformance of a large cap fund was “virtually...
Twenty-One Percent of Investment Managers Plan to Lower Fees
Today, only 69% of assets in retirement plans are in actively managed funds, down significantly from 84% in 1996.
Franklin Templeton Faces Familiar Self-Dealing Allegations
The suit alleges that defendants “breached their fiduciary duties by causing the plan to invest in funds offered and managed...
Xerox Wins Dismissal of Suit Over Financial Engines Offering
Neither Xerox nor Financial Engines were acting in a fiduciary capacity relating to their fee arrangement, a court found.
Fidelity Wins Dismissal of Suit Over Advice and SDBAs
The court basically decided Fidelity was not the fiduciary responsible for choosing to provide the advice and SDBA offerings to...
Sponsors Search for New Strategies to Shrink Plan Costs
Recordkeepers widely identify “reducing plan administration costs” and “maximizing participant savings” as the top two priorities for defined contribution plan...
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Fee Checker Tool Gauges Plan Costs’ Impact on Savings
The tool leverages a 401(k) database to hone in on the often complex fee structure associated with retirement plans.
Essentia Health ERISA Suit Survives Motion to Dismiss
Participants allege the company should have allowed a single recordkeeper to service its traditional DC plan and its 403(b) plan—and...
Plaintiffs Target DST Systems and Ruane Advisory for Fiduciary Failures
According to plaintiffs, Ruane’s flagship fund, the Sequoia Fund, contained more than $25 billion in assets until the firm “engaged...
Overly Broad Clean Shares Discussion Can Mislead Novice Investors
There are potential compliance problems in the works if regulators don't grasp the key differences involved in sub-TA fees and...