On Wednesday, Hartford Financial Services Group Inc. (HIG) said it was entering a strategic alliance to offer 401(k) plan sponsors of Lord Abbett a smooth transition to a new plan provider, free transfer and expanded investment opportunities.

Hartford is a leader in retirement services and was named the fastest-growing provider of 401(k) plans in the $250,000 to $10 million market in 2005-2008 by the 401(k) Market Share report. This association provides a great opportunity to Hartford to serve Abbett’s retirement plan clients with its products and new investment opportunities.

Abbett manages nearly 8,000 packaged small 401(k) plans that include more than 59,000 participants and over $1.2 billion in assets. The company will exit the small-business 401(k) plan market after this deal. The transfer of many of these plans will begin immediately.

Hartford’s offers to waive all contingent deferred sales charges on all A and C share plans, a

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Within the next 12 months, ETFs could play a major role in helping municipal bond markets shake out, says strategist James Colby.

 

James Colby is Van Eck Global's senior municipal fixed-income strategist. His 28 years of experience in the industry also include serving as a muni director at Lord, Abbett; John Hancock Funds; and Evergreen Asset Management, among others.

On Friday, IndexUniverse.com's Murray Coleman caught up with Colby to discuss recent developments in muni bond markets and the role exchange-traded funds are playing.

 

IU: Are bond ETFs helping to set prices and improve liquidity in municipal markets?

Colby: Bond ETFs have helped to maintain, if not improve, liquidity. Muni ETFs, as a group, are only a year and a half old. They were thrust into the marketplace at a period we'll all look back upon as a seminal point in the fortunes of Wall Street. We were simultaneously hit

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