The case includes various allegations of self-dealing and fiduciary imprudence and disloyalty discretionary investment management services provided by Russell Investments to Caesars Entertainment.
Russell Investments Draws Self-Dealing Scrutiny
Plaintiffs in a new ERISA lawsuit say Caesars Entertainment allowed Russell Investments to pack its plan with proprietary investment options, to the disadvantage of plan participant outcomes.
A new Employee Retirement Income Security Act (ERISA) lawsuit filed in the U.S. District Court for the District of Nevada names both the plan sponsor, Caesars Entertainment, and the investment manager, Russell Investment Management, as defendants.
The case includes various allegations of self-dealing and fiduciary imprudence and disloyalty related to the purchase and provision of discretionary investment management services provided by Russell to the Caesars Entertainment Corp. Savings & Retirement Plan since 2017.
BT locks in managed accounts deal with national firm
BT locks in managed accounts deal with national firm
A national advice firm has inked a deal with BT to develop a range of managed account portfolios for the group’s 4,000 clients.
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In a statement, Invest Blue said its new portfolio range would be developed in conjunction with Ironbark and Russell Investment Management and administered on BT’s Panorama platform.
The AMP-aligned advice group, which has clients in Queensland, NSW and Victoria, said the new solutions would provide “excellent options and experience at a more competitive cost” for the group’s clients.