Financial planning

by Bob Rywick

The Principal Financial Group to Acquire BCI Group: The Principal Financial Group, a provider of 401(k) plans, announced that it will acquire Appleton, Wis.-based Benefit Consultants Inc. (BCI Group), a consulting, actuarial and administration firm that specializes in the administration of employee stock ownership plans.

by Bob Rywick

by Kevin Rex

NASD Fines AmEx Financial Advisors $350K for Improper Sales: The National Association of Securities Dealers has censured and fined American Express Financial Advisors Inc. $350,000 for its questionable sales of variable annuities and variable life insurance products.

by Bob Rywick

by Melissa Klein

The Principal Financial Group Unveils COLI Financing Options: Employee benefits provider and 401(k) administrator the Principal Financial Group has introduced Benefit Variable Universal Life, a financing vehicle for nonqualified deferred compensation plans for both smaller and growing companies.

by Bob Rywick

Financial Data Aggregator Partners with Portfolio Software: ByAllAccounts, a financial data aggregation company, is pooling its resources with wealth management software provider netDecide to design a new product for financial planning professionals.

by Bob Rywick

by Melissa Klein

The early withdrawal 10 percent penalty tax for distributions before age 59-1/2 from a qualified retirement plan or an IRA does not apply to distributions that are part of a series of substantially equal periodic payments that are made at least annually for:

by Melissa Klein

by Bob Rywick

TIAA-CREF Unit Adds Four: The Advisor Services unit of TIAA-CREF, a major pension provider and financial services concern said that it has added four executives.

by Cynthia Harrington, CFA

by Bob Rywick

by Melissa Klein

Equitable Enhances Product Portfolios: The Equitable Life Assurance Society of the United States - a wholly owned subsidiary of AXA Financial Inc. - has redesigned its Universal Life and Survivorship Universal Life product portfolios with enhancements of existing features and benefits.