The world’s largest asset manager, with more than $10 trillion in assets under management, has dropped out of the Net Zero Asset Managers initiative, following the recent withdrawals of Morgan Stanley, Goldman Sachs, JP Morgan Chase and other megabanks.
A new IRAlogix survey raises concerns over a rapid depletion of retirement savings, and provides guidance to employers to help pre-retirees to make a decumulation plan.
State securities regulators discovered gaps in the firm’s supervisory process, when customers moved from brokerage to advisory accounts and the financial services firm implemented new policies in response to the now-defunct fiduciary rule.
A judge in a Massachusetts state court pointed to concerns about undisclosed product bundling, agent licensing and descriptions of non-insurance products.