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Articles tagged "Phil Chiricotti"


Bob Reynolds: They reached out and asked if we'd like to buy their proprietary business.

Just what good Bob Reynolds' purchase of J.P. Morgan's billions -- sans sweet brand -- will do for his Great West-Putnam 401(k) empire
The Boston exec was opportunistic in getting this deal and remains open to others but the 'O' word that made Whole Foods famous is holding sway

Friday 4.4.14
Bob Reynolds: In this business especially it's a game of scale.

Bob Reynolds strikes again in his 401(k) quest -- this time buying JPMorgan's retirement recordkeeping business
The deal includes blue chip 401k accounts of Procter & Gamble, American Airlines and JPMorgan itself

Thursday 4.3.14
Bob Reynolds: We think that two plus two equals six. We want to be the best in this space.

Fidelity's old 401(k) mastermind, Bob Reynolds, gets a merger, a promotion and a stronger hand to compete with his old employer
With Great West and Putnam joining 401(k) units, there may be a dividend of critical mass and synergy

Thursday 3.27.14
Steve Anderson: None of the consultants are utilizing our business model.

Schwab fesses up to Wall Street just how hard winning plan sponsors to its 401(k) ETF platform will be
Convincing plan sponsors and pension consultants to join a ETF paradigm shift to ETFs is a big ask, its executives tell Wall Street

Tuesday 2.18.14
Fielding Miller: There are so many schools and non-profits there. The Northeast is our new focus.

A $103 billion AUA RIA storms TIAA-CREF's Northeast stronghold by poaching a hotshot from a $30-billion RIA in Greenwichland
CAPTRUST's 403(b) assets have jumped 60%, or nearly $5 billion, in AUA in one year and TIAA-CREF's $217 billion of 403(b) assets are still pretty untapped

Monday 9.16.13
Louis Harvey: We are seeing naked fear.

Why the 'naked fear' from a Yale law professor's letters to 401(k) plan sponsors is still present
The threatening, finger-pointing nature of the epistles drew the blood, the lack of a remedy to the attack from New Haven keeps the wound from healing

Thursday 8.1.13
Martin Smith: We never considered this investigative in the sense that it wasn't information that was already out there.

Why the industry needs to accept some blame for 'flaws' in PBS Frontline's 'Retirement Gamble'
The PBS report was slanted, simplistic and went in for shock value, say critics, but some in the industry say too-high fees are in fact the root of the problem

Wednesday 5.15.13
Kevin Chisholm: I don't think you can have the conversation about cost without talking about asset allocation and, ultimately, performance.

Schwab garners $4 billion in index-only 401(k) assets fast out of the gate
Critics applaud the San Francisco broker's early success but wonder whether such a cost-focused approach is really enough

Friday 2.22.13
Rick Meigs: It seems like a big pot of assets to be walking away from.

Merrill Lynch pulls advisors from a $2.9-billion business -- and leaves the light on for RIAs
The Bank of America subsidiary sees too much peril in the public-pension business and RIAs like John Beirne smell opportunity

Tuesday 2.5.13
David Witz: It could be fireworks for the RIA community or just another compliance fizzle.

A 401(k) plan dethroning deferred: The DOL-mandated disclosures may not set any legacy palaces on fire near-term
The expected RIA field day and B-D comeuppance may come limping out of the gate; Fidelity has put 17 million 401(k) disclosures in the mail with few follks batting an eye -- with high-balance participants as the possible big exception

Tuesday 8.28.12
Phil Chiricotti: The DOL went off the reservation...They backed off and damaged their credibility.

What to make of DOL's backtrack after John Kerry, Fidelity Investments and the rest of the riled 401(k) industry cried foul
The policy reversal on on self-directed accounts is a win for white-collar workers but the agency's mandating-by-bulletin was equally troubling to some observers

Wednesday 8.1.12
Anne Tuttle:  We’re happy to see more information provided to sponsors.

How giant advice provider Financial Engines can sweep the 401(k) field -- or not
It has $53.7 billion of assets under its managed account platform, but how the new DOL disclosure rules, competition from Morningstar and Schwab's bet on GuidedChoice play out will be very telling

Tuesday 5.22.12
Fred Reish: Before, the statement said that you should consider firing the provider but now it's very clear that it's mandated.

DOL tells employers when they must fire advisors to 401(k) plans
The new teeth in the rules went unnoticed by many people amid other changes

Friday 2.10.12
Terrence Morgan: It wouldn't surprise me if people are stalling and hoping that Phyllis Borzi is fired.

Report of a possible delay in DOL's fee disclosure rule sparks apprehension among advisors and industry observers
Advisors say they can't comply with the rule until they know what's in it but one delay could lead to another

Thursday 1.5.12
Brian Graff:  I didn't think of it as personal attacks.

Blog war breaks out between an RIA and ASPPA members
The tension starts with differing opinions about what represents fiduciary care of 403(b) investors

Tuesday 11.8.11
Marcy Supovitz: There's never been any professional society with a strong focus on advocacy representing advisors who focus on employer-sponsored retirement plans.

401(k) advisors get a lobbying voice in Washington
But in these tough times, advisors are better served by a focus on practical solutions, CFDD president counters

Wednesday 10.5.11
Michael Henkel: He is passionate about moving independent advisors into the retirement plan market, but says that for now, advisors lack the tools to succeed there.

Yesterday's proposed DOL regs underscore why default investments are the 401(k) market's giant untapped opportunity
Regulators' so-far soft approach on target date funds leaves door open for advisors to compete

Tuesday 11.30.10
Phyllis Borzi: If it gets rid of schlocky advice, that’s okay with me.

Proposed DOL regs expose more advisors to fiduciary liability
Language of rules amounts to better ammo for lawyers

Friday 10.22.10
Lou Harvey: All it will take is for one employee in any company to rise a question about fees. This is going to be a tsunami.

Why the DOL's massive new 401(k) disclosure requirements are a 'very, very big deal'
RIA competitors (i.e. brokers) face daunting challenge of explaining complex revenue-sharing arrangements

Friday 10.15.10
RIAs continue to rise above the landscape and capture notice from across constituencies

What happened in June shows that RIA fortunes stayed on the rise
The giant legislative victory was a landmark for RIAs but much more happened as Spring turned to Summer

Friday 7.2.10
Phil Chiricotti says the rules are the rules when it comes to the 401(k) business

Phil Chiricotti speaks out on broker-sold commissions, RIA fees and heresy
The 401(k) expert says RIAs generally lack the qualifications to work in the retirement assets market -- and may charge too much

Friday 6.18.10

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