10.01.26

Fidelity To Drop RIAs Below $100M Custody Minimum

by: Brian Anderson

Keith Sonderling has been confirmed as the 31st U.S. Secretary of Labor, succeeding Lori Chavez-DeRemer. Previously acting secretary, Sonderling is expected to prioritize expanding retirement-plan access, including alternative investments and guaranteed lifetime income, addressing missing participants and extending benefits to gig workers. Retirement-industry groups welcomed his confirmation, citing his support for lifetime-income solutions and ESOPs. Critics, including unions and Democrats, have opposed his deregulatory record.

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