June 2017 Trends & Highlights: DOL Implementation, Fed Rate Hike and Janus Henderson Investors

by on Jul 27, 2017


  • Nine Firms Address DOL Rule Implementation

The DOL rule went into effect on June 9, causing firms across coverage groups to respond. MassMutual updated its compensation structure and marketing materials and posted an article regarding the changes on the advisor site homepage. Allianz created a guide for advisors, while Lincoln added a blog post to The Informed Advisor blog. Nationwide released an article defining the rule and its effects and promoted the DOL page with a banner image. Pacific Life updated its DOL Fiduciary Rule page and added an article to promote the firm as a guide through the process. Wells Fargo added a new Our Commitment page to reiterate its dedication to all clients and released a letter from the firm’s president. Morgan Stanley updated the DOL Rule page with new information and disclosures, and Fidelity is now requiring confirmation of agreement with two documents prior to entering the Planning & Guidance Center. A notification on TD Ameritrade’s private site homepage is promoting the Fiduciary Rule Resource Center.

  • Prime Lending Rates Increase Across the Board

In response to the rise of the Fed rate, nine firms issued press releases announcing prime lending rate increases: BB&T, Citibank, Citizens Bank, Key Bank, PNC, Santander, Sun Trust, U.S. Bank and Wells Fargo. Chase Bank announced its rate increase with a post to Twitter. Charles Schwab and Fidelity added public site banner images announcing the rate hike and linking to a corresponding article and page. Merrill Edge used a private site homepage notification to alert clients of the increase. AB, Hartford Funds, J.P. Morgan, MFS, PIMCO and Vanguard added commentary articles on the subject.

  • Six Banks Convert Person-to-Person Payment Capabilities to Zelle

Adopting the new money movement platform, Capital One 360, Citibank, TD and U.S. Bank—updated their person-to-person payment interfaces. Chase announced the new service on its public site and slightly changed the private site interface to incorporate the branding. Wells Fargo announced the June 24 replacement of its SurePay service.


Janus Merges with Henderson Groups

Janus Capital Group and Henderson Global Investors combined to create Janus Henderson Investors with an all-stock merger. The rebranded Janus private site features a new color scheme, improved navigation and greater access to funds and commentaries. The site remains unchanged in terms of content.

Janus Henderson Investors Homepage

TIAA Introduces Robo-Advisor

The new goal-based TIAA Personal Portfolios automated investment platform provides three investment options: Basic, Insight and Impact. TIAA investment managers manage and rebalance the portfolios, and the firm offers a unique touch by including a socially responsible investment option. The service requires a minimum investment of $5,000 and charges an annual fee of 30 basis points.

TIAA Personal Portfolios Page