ShareBuilder 401k this week announced offers designed to help businesses establish their first 401(k) plan and meet the Oct. 1 safe harbor deadline.
The firm said it is offering a $250 discount in the setup fee for businesses establishing a new 401(k) plan from Aug. 18 to Sept. 2; and a $100 discount to the setup fee for new plans from Sep. 3 to Sept. 12. Companies will have until Sept. 17 to purchase a safe harbor at ShareBuilder to still meet the government deadline.
To establish a safe harbor 401(k) plan for the current year, it must be set up by Oct. 1 of the current year. Most providers recommend initiating the process well in advance to ensure the company’s plan is fully operational on time and not delayed until the following January.
“Too many small businesses are missing out, unaware of just how affordable and accessible a robust 401(k) plan can be,” stated Stuart Robertson, CEO of ShareBuilder 401k. “Our unwavering commitment is to empower businesses of every size to effortlessly as possible provide themselves and their employees with a vital retirement plan. By offering these limited-time savings on setup, we are actively dismantling another perceived cost barrier and urging more employers to seize the benefits of a 401(k) plan.”
Hundreds Shift to SS&C Black Diamond from Morningstar Office
More than 400 wealth management firms have chosen to transition from the Morningstar Office platform to SS&C Technologies Holdings, Inc.’s Black Diamond Wealth Solutions, with nearly 100 firms having completed implementation and another 250 nearing completion.
Early adopters are reporting smoother transitions and improvements in both operational workflows and client engagement.
“My contact on the Black Diamond implementation team was a fantastic, patient, responsive and proactive resource,” said Lawrence Dauer, founder and CEO of Valoir Wealth, one of the first firms to transition. “He guided me through submitting and tracking support cases, took the extra step to personally call and walk me through updates and resolved a few outstanding questions. The level of service we’ve received during onboarding has been exceptional and reflects the commitment Black Diamond has to its clients.”
“The more we get to know about Black Diamond, the more impressed we are,” said Carl Goodin, President of Financial Planning Associates, Inc., another recently transitioned advisory firm. “The CRM, portfolio accounting, reporting and billing tools are best-in-class, and the transition team has been exemplary. The integrations with Direct Advisory Suite, RightCapital and DPL Financial Partners add value to our Black Diamond experience.”
Morningstar previously announced the retirement of its Office platform as of February 28, 2026, prompting advisors to evaluate alternative solutions. Through the alliance, firms choosing to transition to Black Diamond gain access to portfolio management and reporting services and engagement tools alongside Morningstar’s research, planning and reporting via the platform’s integration with Direct Advisory Suite.
Transitioning firms also receive historical data conversion from Morningstar office to Black Diamond at no cost, onboarding support, training, and no double platform fees during migration.
“Our focus at Black Diamond has been on making this process as smooth and beneficial as possible for advisors,” said Steve Leivent, Co-General Manager of SS&C Wealth & Investment Technologies. “This alliance is about more than just continuity; it’s about helping firms move forward with greater efficiency and deeper integration, provided by a long-term technology partner who understands their business and their needs.”
Empower Renews Contract with MTA NY
Empower this week renewed its contract with the Metropolitan Transit Authority (MTA) of New York, who has been a client with the organization since 1988.
Empower will continue the plan administration for the MTA’s 401(k) and 457 defined contribution plans for approximately 124,000 participants with assets of approximately $10.3 billion of assets under administration (AUA).
“We are proud to continue working with the MTA, the largest transportation provider in the country, who millions of commuters count on every day,” said Empower President and Chief Operating Officer Rich Linton. “Empower has had a long-standing team of retirement plan advisors dedicated to the MTA’s public service employees to help them prepare confidently for their futures. Our economy and communities depend on them — so we want them to know they can continue to depend on us.”
Linton indicated the new five-year contract commenced June 1, 2025, and is in effect until May 31, 2030.
“The MTA Deferred Compensation Program Committee is pleased to extend its relationship with Empower due to their in-depth experience with public sector and government defined contribution plan administration,” said Nicole LaMorte, director of Tax Favored programs. “This will allow us to maximize participant engagement and offer best in class communications while providing our employees with the support they’re familiar with. We look forward to this continued partnership with Empower in helping all our employees achieve better financial outcomes.”
Ascensus Names Chief HR Officer
Ascensus announced that career HR executive Jeri Hawthorne has joined the company as its chief human resources officer. She will report to Ascensus Chair and CEO David Musto and be based at the company’s Dresher, PA, headquarters.
“We are delighted to welcome Jeri Hawthorne to Ascensus at a time of significant transformation in our industry and across our company,” said Musto. “Her experience and perspective from leading organizations with a like commitment to client and employee experience excellence will be enormously valuable as we evolve the scale, solutions, and culture of our own business.”
Hawthorne comes to Ascensus from Aflac, where she most recently served as chief human resources officer. Prior to that she was head of Human Resources for Campbell and Company, a privately held quantitative hedge fund. Prior to Campbell, she served as head of Talent and Leadership Development at Exelon, the largest energy parent company in the U.S., and led teams of business partners for Exelon’s competitive energy business, Constellation.
Earlier in her career, Hawthorne held senior HR roles at T. Rowe Price and the U.S. Pharmacopeia. She also worked in international human resources at Novo Nordisk A/S while an expatriate in Denmark.
She has a bachelor’s degree from Wheeling Jesuit University and a master’s degree from the University of Bath, UK.
She succeeds Amy Walker, who will remain with the company until mid-September to support the leadership transition.
Manulife Appoints General Counsel
Manulife announced the appointment of Mike Coyne as general counsel, effective September 1, 2025. He will join Manulife’s Executive Leadership Team and will report to Phil Witherington, Manulife’s president and CEO.
Coyne most recently served as senior fellow and litigation strategy advisor at the Bank Policy Institute (BPI), a leading non-partisan advocacy and policy think tank for the world’s largest banking organizations. Prior to BPI, Coyne served as general counsel and senior legal officer for the Americas for Mitsubishi UFJ Financial Group (MUFG). He was also an executive officer of Tokyo-headquartered MUFG and its commercial bank subsidiary, MUFG Bank Ltd. Prior to MUFG, Mike spent over 20 years at JPMorgan Chase & Co., ultimately rising to senior vice president, associate general counsel and global co-head of litigation.
“Mike brings demonstrated ability to lead high-performing legal teams, navigate complexity, leverage transformative technology to optimize ways of working, and advise boards and executive leadership with strategic clarity and sound judgment,” said Witherington. “His global perspective and passion for building an inclusive culture, as well as sponsoring, developing, and coaching colleagues, will be invaluable as we write Manulife’s next chapter.”
Coyne is a graduate of Boston College Law School and the University of North Carolina at Chapel Hill. He succeeds Jim Gallagher, who is retiring from Manulife this month.
Regional Plan Consultant Joins TRA
The Retirement Advantage, Inc. (TRA), a leading provider of retirement services nationwide, has added David Kay to its team as the newest regional plan consultant (RPC).
Kay will be supporting Alaska, Northern California, Idaho, Montana, Oregon, Washington and Wyoming territories. He will report directly to Darin Erdmann, TRA’s director of Sales & Distribution.
Erdmann shared his excitement about welcoming Kay, noting, “David has a proven history of accelerating growth and crafting retirement plan solutions tailored to each client’s needs. His knowledge, professionalism, and commitment will add tremendous value to TRA, our advisor network, and our business partners.”
Kay holds multiple professional credentials, including QKA (Qualified 401(k) Administrator), CRPS (Chartered Retirement Plans Specialist), and AIF (Accredited Investment Fiduciary) designations, along with FINRA Series 6, 7, and 63 licenses.
“TRA’s reputation for industry innovation, fiduciary expertise, and exceptional service aligns perfectly with my approach to helping clients and advisors succeed,” said Kay. “I look forward to contributing to the company’s growth while delivering retirement solutions that truly make a difference.”
Sequoia Financial Group Acquires MWG
Sequoia Financial Group, LLC, an SEC-registered wealth manager with $27.6 billion in assets under management (AUA) as of June 30, 2025, has reached an agreement to acquire The Martin Worley Group (MWG), a wealth manager based in Cottonwood Heights, UT.
MWG provides personalized investment advisory services to individuals, multi-generational families, entrepreneurs, foundations and trusts. The firm, established in 2008 and SEC-registered since 2014, has a team of eight and had $430 million in assets under management (AUM) as of June 30, 2025.
“We were looking for a firm with a shared commitment to cultivating and sustaining deep client relationships to bring additional investment depth, planning resources and technology to our practice,” said Brian Worley, MWG’s managing partner. “The motivation behind this integration of our two firms is to ensure continuity of service to our clients well into the future. Sequoia Financial is an ideal partner, with a nationwide presence, a dedicated and talented team, broad capabilities and happy clients.”
Worley and his partners, Terra Thurgood and Barry Watson, will become equity owners in Sequoia Financial. All MWG colleagues will join the Sequoia Financial team after the transaction closes, which is expected to occur on Aug. 31.
“Brian, Terra, Barry and the entire team at The Martin Worley Group have built a strong business, and we’re excited to combine our resources as we further expand Sequoia’s national footprint,” said Tom Haught, founder and CEO of Sequoia Financial.
Akron, Ohio-based Sequoia Financial serves more than 11,000 client households in all 50 states and the District of Columbia from 32 offices nationwide. The firm employs more than 400 people.
Manulife John Hancock Investments Launches Global Senior Loan ETF
Manulife John Hancock Investments announced it will launch John Hancock Global Senior Loan ETF, subadvised by affiliated investment manager Manulife | CQS Investment Management.
The launch brings Manulife John Hancock Investment’s ETF suite to a total of 18 funds with over $7.5 billion in assets under management (AUM), with strategies including U.S. and international equity, preferred income, mortgage-backed securities, and corporate and municipal bonds.
The new ETF seeks to provide a high level of current income through the investment of at least 80% of its assets (plus any borrowings for investment purposes) in a diversified portfolio of senior loans. Senior loans are investments in originated first and second lien loans, delayed draw term loans, revolving credit facilities, and club deals and will include, but are not limited to, senior secured floating rate bank loans. James Fitzpatrick, Portfolio Manager, Chief Investment Officer, North America, and Head of Global Loans, Manulife | CQS IM, is primarily responsible for the day-to-day management of the fund’s portfolio. Mr. Fitzpatrick is also co-portfolio manager of John Hanock CQS Multi Asset Credit Fund.
“We’re thrilled to introduce a new capability that draws on the deep expertise of Manulife | CQS Investment Management in global credit markets,” said Kristie Feinberg, president and CEO of Manulife John Hancock Investments. “This ETF is designed to help investors pursue income and diversify their portfolios more effectively. It complements our existing active fixed-income ETF lineup and offers a compelling option for those seeking income generation, duration management, and enhanced total return potential.”
“We are incredibly excited to bring this new ETF to investors, as it showcases the strength of the loan team’s rigorous investment process that has been honed over nearly two decades,” said Soraya Chabarek, president and CEO of Manulife | CQS IM. “Our investment approach is fundamentally driven and enhanced by proprietary analytics. And we’re placing a lot of emphasis on position sizing and agility to ensure that we’re able to respond to market changes quickly. Our goal, as always, is to capture the best relative value opportunities across geographies and optimize outcomes for our clients.”
“Active income ETFs play a significant role in today’s volatile market environment by offering investors the opportunity to seek consistent returns while managing risk effectively,” added Steve Deroian, global head of Exchange Traded Products and Models, Manulife John Hancock Investments. “Manulife John Hancock Investment’s active income ETFs are designed to adapt to changing market conditions, leveraging each team’s expertise to identify and capitalize on opportunities as they arise. By maintaining a flexible and responsive approach, we aim to provide our investors with the income and stability they need to navigate market fluctuations with confidence.”
Merit Financial Advisors Buys Global Wealth Advisors
Merit Financial Advisors, a Georgia-based financial advisory firm that specializes in financial planning and wealth management solutions for high-net-worth individuals and families and those navigating life transitions, announced today that it has acquired Global Wealth Advisors.
This strategic acquisition expands Merit’s national footprint, adding offices in Lewisville, San Antonio, Angleton, and Snyder, Texas; Naples, Florida; and Canonsburg, Pennsylvania. GWA brings approximately $860 million in client assets to Merit.
Founded with a focus on wealth preservation, asset protection, retirement income strategies, and estate planning, Global Wealth Advisors has built a reputation for delivering personalized financial advice to clients across multiple generations. The firm’s President, Kris Maksimovich, and Managing Partner, Chris Powers, will join Merit as regional directors and partners alongside their team of 14 advisors and client support staff.
“This partnership is especially meaningful to me,” said Kay Lynn Mayhue, president of Merit. “Kris and I started our careers together more than 25 years ago. I’ve witnessed him build a firm rooted in client service, integrity, and true leadership. It is a full-circle moment for us to now be working together under the Merit brand, and a powerful step forward toward our shared commitment to clients.”
The addition of GWA solidifies Merit’s strategic expansion in Texas, one of its largest and fastest-growing markets. As a result of the partnership, Merit now has seven offices in Texas and a significant leadership team, positioning Merit for continued growth in the region.
“I am a strong believer that things don’t happen to you – they happen for you,” said Kris. “We weren’t actively looking to make a change but based on recent developments at our broker-dealer, we decided to seize an opportunity and make a change that’s better for our clients and team. Joining Merit will help us maintain our personalized approach while expanding our presence in Texas.”
By joining Merit, GWA will gain access to Merit’s operational support and in-house wealth management platform, which will enable the team to focus on driving growth and enhancing client service.
“Kris and Chris and their high-caliber team of professionals bring both depth and dedication to their work,” said Josh Mersberger, managing partner and wealth manager at Merit. “Welcoming this team to Merit enhances our capabilities and positions us to expand our reach and impact in Texas.”
This is Merit’s forty-first acquisition in four and a half years. Earlier in the month, Merit acquired Second Half Financial Partners, which expanded Merit’s assets by $225 million and marked Merit’s fifth office in Florida.
The transaction was finalized on August 18, 2025. The financial and legal terms of the deal were not disclosed.
Transamerica Launches Registered Index-Linked Annuity
Transamerica has introduced a new registered index-linked annuity crediting strategy designed to help retirement savers pursue growth while managing risk.
The Triple Edge Advantage is now available with the Transamerica Structured Index Advantage Annuity and the Transamerica Structured Index Advantage New York.
“Investors today are looking for more than just growth—they want confidence that their retirement strategy can withstand market swings,” said Jon Cressman, head of Annuities and Asset Management Distribution. “Triple Edge Advantage is designed to help meet that need. It offers a way to capture upside potential while helping to reduce the impact of downturns. That balance of opportunity and protection is what makes this option so relevant right now.”
Triple Edge Advantage provides a combination of benefits: downside protection through a built-in buffer—a preset percentage that helps absorb market losses—the opportunity to earn positive returns even in negative markets, and enhanced growth potential in up markets through the Edge+ Rate. The Edge+ Rate is the highest credited rate possible on the Triple Edge Advantage crediting strategy. The new crediting strategy is available with one-, two-, and six-year crediting periods and includes a 10% protection buffer.
“Triple Edge Advantage was developed with our goal to become America’s leading middle market life insurance and retirement provider in mind. It addresses a real challenge for everyday retirement savers—how to stay invested when markets are volatile,” said Cressman. “This option gives clients more opportunities to grow their savings, even in down markets, while still offering a level of protection that helps them stay the course.”
Triple Edge Advantage is designed for everyday savers who want to stay invested through market cycles without sacrificing long-term growth potential. Unlike other solutions, Triple Edge Advantage can credit positive returns even when index performance is negative, helping investors stay on track during market downturns.
Strategic Financial Management Joins OSJ Under Osaic
Osaic, Inc., announced that Strategic Financial Management has joined Undefined Gridlines, Inc., an office of supervisory jurisdiction (OSJ) under Osaic. The Greeley, Colorado-based wealth management firm oversees $133 million in assets under administration (AUA).
Led by President Randee Cook, CFP, StrategicFM delivers comprehensive wealth, retirement and estate planning. Cook is both a certified financial planner and a senior portfolio manager. She chose UGLI to gain the tools, resources and technology to boost efficiency and enhance high-touch client service.
“As I look toward the future, I want to ensure that my clients are set up for a successful retirement as I begin to prepare for my own,” Cook said. “UGLI and Osaic give me the resources to serve my clients today and the continuity support for tomorrow.”
Joining her in the move to UGLI are StrategicFM’s relationship manager Noah Clement and operations director Debra Pratt.
“Randee’s decades of service and commitment to her clients perfectly align with the values UGLI was built for,” said David and Tina Thiele. “We’re excited to support her in her next chapter, as she prepares her clients and business for long-term success.”
“Our platform is built to help advisors grow and plan for their own future,” said Kristen Kimmell, executive vice president of business development at Osaic. “We look forward to supporting Randee as she continues to build upon her legacy of providing comprehensive wealth planning.”