Company/Trade Group News
'Growing steadily without a marketing budget, Geode now manages some $720 billion, up from less than $100 billion a decade ago,' the Wall Street Journal reported this week.
MassMutual buys Great American Life for $3.5 billion
MassMutual was the sales leader in fixed-rate deferred annuities through the first nine months of 2020, with $5.18 billion in sales. This acquisition makes it an instant player in...
BlackRock Makes a Bundle (with Annuities)
BlackRock, the giant asset manager, is adding a lifetime income dimension to its LifePath target date funds by partnering with Brighthouse, Equitable and Voya on a service that will...
IPO Signals Strategic Shift at Jackson National
Jackson's UK parent, Prudential plc, seeks an equity capital infusion--to fuel its diversified growth strategy and to mollify mega-shareholder Dan Loeb.
Equitable completes spin-off from AXA
Equitable Holdings started toward independence in May 2018 with an initial public offering on the New York Stock Exchange. In March 2019, AXA S.A. completed a secondary public offering...
RIJ Interview: Will Fuller of Lincoln Financial
In the third in our series of interviews with annuity industry leaders, we talk with Lincoln Financial Group executive VP Will Fuller. He was recently honored as an 'Industry...
Sizing Up Lincoln Financial
Over the past 40 years, events and trends have helped determine Lincoln Financial Group's size today, which is smaller than its rivals in the individual annuity market. Former Lincoln...
Size matters, Cerulli tells plan providers
With estimates that the 10-largest recordkeepers will represent more than 75% of recordkept 401(k) assets by year-end 2019, current market dynamics point to an 'oligarchy' of retirement plan providers,...
‘Top of Mind’ Wealth Management Platforms
Fidelity, Charles Schwab and Vanguard were the three firms most often named by investors without hints, according to Cerulli Associates. (Forty years of brand-building never hurts.)
Fidelity’s brokerage claims industry price leadership
New commission changes take effect on October 10, 2019 for individual investors and will be available on November 4, 2019 for registered investment advisors, a Fidelity release said.
Financial Engines keeps growing
The 401k investment advice firm added hundreds of plans. Phyllis C. Borzi, who led the Obama administration's fiduciary rule effort, has joined the Edelman Financial Engines board of directors....
Talking Annuities with AIG’s Todd Solash
Solash, who leads AIG's Individual Retirement business, spoke with us about the company's approach to the annuity market. The NAIC recently reported AIG's overall Life and Retirement businesses as...
Inside Seeking Alpha’s Money Machine
Content is currency for Seeking Alpha, as long as the editors (and their algorithms) keep making smart decisions about which content readers will be willing to pay for.
AXA IPO attracts $2.75 billion
AXA, which is Europe’s second-biggest insurer by market capitalization behind Allianz, has said that the proceeds will help finance its earlier acquisition of insurer XL Group.
Financial Engines purchased by private equity firm
There were 208 M&A deals involving asset management firms worth $21 billion in 2017, according to Sandler O’Neill & Partners. Combined deal values were up about 23% from the...
Principal Financial will partner with ARAG to provide financial wellness programs; Lincoln Financial completed its purchase of Liberty Life Assurance.
Principal Financial to join Washington State ‘Retirement Marketplace’
Providers already on the Marketplace include Finhabits, which offers individual IRAs, and Saturna Trust, which offers a solo 401(k) for the self-employed.
AXA Equitable Holdings to go public
The IPO price is currently expected to be between $24.00 and $27.00 per share. The shares are expected to trade on the NYSE under the symbol “EQH”.
LIMRA Ponders the Annuity Puzzle
'We can stick with business as usual, or we can work with regulators to remove some of the hurdles to selling annuities,' said Ernst & Young's Doug French at...