Company/Trade Group News
‘Tell Ken Fisher To Stuff It’
That's what variable annuity pioneer Bob Saltzman said at the Insured Retirement Institute's 25th anniversary conference in Florida this week. The fiduciary rule, he added, will lower the cost...
Prudential reorganizes five businesses into three main groups
'Each group will have a leader focused on understanding customer needs, experiences and expectations, and applying that understanding to capture growth opportunities within and across businesses,' said a Prudential...
‘Focus on issues in your direct control,’ A.M. Best urges annuity issuers
The '2017 Review & Preview Best’s Special Report' notes that the ratings agency has revised its outlook for 2017 on the L/A industry from stable to negative.
Fifth Third Bank acquires The Retirement Corporation of America
The Retirement Corporation of America provides 'education platforms, lifestyle focused events and investment programs designed to help maximize post-retirement income.'
Economies of scale allow Vanguard to further reduce fund fees
Vanguard CEO Bill McNabb said the reductions were not “another volley fired in the fee war” but rather “business as usual” for the Malvern, Pa., firm.
NAFA elects new board members
Brian Mann of Partners Elite Advisory Group will assume the role of chairman of the board of directors, succeeding Nathan Zuidema of Imeriti Financial Network.
Voya: From Orange to Origami
Almost four years after its IPO, Voya (formerly ING-US) has rebranded, retooled itself as a fixed indexed annuity shop and launched an ad campaign featuring origami rodents that talk....
Vanguard continues to dominate mutual fund flows: Morningstar
“Cost definitely plays an important part , but it’s not the only reason,” Morningstar’s Alina Lamy (pictured) told RIJ. “A lot of it has to do with...
Lapse rates of ordinary life products near two-decade low: A.M. Best
The last two years have seen the highest persistency rates in nearly 20 years, around 86%, according to a new A.M. Best report.
Vanguard funds continue to dominate asset flows: Morningstar
Active Vanguard funds received $2.84 billion in May and $18.47 billion in the year ending May 30. Among passive funds, Vanguard funds and ETFs netted $18.94 billion in May...
A Maserati for the Mo-ped market
Having purchased GE Capital and Honest Dollar, Goldman Sachs is poised to go down-market with retail banking, lending and retirement account services. Look out below!
Vanguard fees fall to as low as two cents per $1,000
The expense ratio reductions span five fund share classes (Investor, Admiral, ETF, Institutional, and Institutional Plus) across five fund categories: Domestic stock index, domestic bond index, balanced index, managed...
Double-digit revenue declines at Sun Life and Manulife: A.M. Best
Nine of 23 life/annuity companies reported higher revenues in 2015, but two Canadian companies, Manulife Financial and Sun Life Financial, saw revenue declines of 38.2% and 25.2%, respectively.
A Conversation with Jackson National’s CEO
'If a guy is getting ready to lose his house, and the VA account is the only liquidity he’s got, he’s not going say, ‘But our guarantee is in...
MetLife To Let VA Liabilities Go
Whether MetLife can or will avoid designation as a Systemically Important Financial Institution is uncertain, but it is clear "that MetLife will no longer write new U.S. retail life...
American Financial sells LTCI book to focus on FIAs
HC2, the buyer, paid approximately $15 million in proceeds. AFG may also receive up to $13 million of additional proceeds from HC2 based on the release of certain statutory...
Vanguard keeps dominating fund flows
Through Nov. 30, Vanguard mutual funds received more net inflows than the next nine fund companies combined, according to Cerulli Associates. (Photo of Vanguard founder Jack Bogle.)
RIIA’s RMA designation goes online
The course is designed for financial advisors with at least three years’ experience who want to master RIIA's retirement planning advisory process and "View Across the Silos" approach to...
Life insurers will take ‘manageable’ GAAP charges in 3Q2015: Fitch
"We believe that the Fed's position increases the likelihood that life insurers will take GAAP charges in third-quarter 2015 tied to a revision in long-term rate assumptions," Fitch analysts...
