'Our clients are so past proprietary solutions,” said Scott Colangelo, who brought Lincoln Financial, Nationwide, American Century funds, Vanguard, Fidelity and others together to create Income America 5ForLife, an in-plan 401(k) annuity. 'This won’t be anybody’s single product,' he said. 'No one has ever done that before.” (Photo from Income America brochure.)
'Given record low interest rates, and disruptions to sales channels, there was no way to know whether past patterns would continue. We’re intrigued by how some changed—and others didn’t,' said Tim Paris, CEO of Ruark Consulting.
'Fourth quarter 2020 buy-out sales continue this trend and represented the highest quarterly sales total recorded since fourth quarter 2012,' said Mark Paracer of SRI.
Driven by plan sponsors’ pursuit of lower-cost alternatives, CITs have captured marketshare from mutual funds, says the latest issue of The Cerulli Edge--US Monthly Product Trends report.
SEC suspends trading of securities hyped in social media; Mutual of Omaha aims to get ‘Retirement Right’; Americans feel more financial damage from pandemic than in 2008: Allianz Life; MetLife unit reinsures $5 billion in UK pension liabilities; Midland National FIA, offered at RetireOne, will include BlackRock ESG index.