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
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Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees
The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors
February 17, 2023 at 2:49 AM
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
January 23, 2021 at 2:02 AM
Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift
Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.
March 13, 2020 at 10:36 PM
How Edelman Financial Engines spin-off deal became a RetireOne engine that's heating up the RIA annuity game again
The fee-based annuities marketplace of Aria Retirement Solutions adds Edelman's broker-dealer, 6,000 clients, 'hundreds of millions' in client assets and an old hand
November 20, 2019 at 10:19 PM
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Financial Engines
401k Plan Consultant
BAM Advisor Services
TAMP
Top Executive: Mont Levy
Sheridan Road Financial
Consulting Firm
Top Executive: Jim O'Shaughnessy
Elmer Rich III
We wrote and article on this 10 years ago based on research with PSCA and Booze Allen. The 401(k) system is highly mature and saturated. There is effectively zero growth, it may in fact be negative.
So any market share gain, has to come as the expense of another existing provider. Does anyone know of any 401k service provider who will passively allow loss of clients or stop trying to get new ones.
So that leaves structural changes in the market to produce growth. Iffy. Sales people like the BScope brothers have been predicting revolutions for years. Still waiting.
Even if there were sudden, wholesale systemic changes in the DC markets existing dominant share holders will likely grab whatever is in play. This has been researched and shown in other industries and markets.
Here are two questions we have learned to help clients ask, based on research done in other industries: – Where will growth in demand come from? – If it’s a great idea, why hasn’t it already happened?
Finally, if anyone wants a hard core business strategy “work-out” think about these findings from other Booze Allen research — trying to gain market share is a waste of resources and uneconomical. This is a data based finding — so spare the business platitudes of protest and provide data and research suggesting otherwise.
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Both new 13-inch MacBook Pro models incorporate Nvidia GeForce 320M integrated graphics, which shares no less than 256MB of major memory. This replaces the GeForce 9400M built-in graphics in the preceding generation (which shared a similar amount and type of RAM). In our screening, the new 13-inch products obtained much better body fees on our Phone of Duty check. For instance, at 38.9 frames for every next, the two.4GHz MacBook Pro did 15.two frames for every 2nd much better than the higher-end, two.53GHz 2009 modeln advancement of 64 %. They continue to lagged way powering the new low-end 15-inch MacBook Professional, which garnered sixty eight.4 frames for every next because of it discrete graphics.
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