IRAs now account for 25% of retirement savings: EBRI
The average balance for all IRAs grew by about 50% during the 2010-2015 time frame, to about $146,000. People 70 years old and older had the highest average ($229,000)...
News
Quote of the Week
'Anything can make or break a market,' Tighe explained in his delicate brogue, 'from the failure of a bank to the rumor that your second cousin's grandmother has a...
New DIY decumulation software from team of Meyer and Reichenstein
'Incorporating the latest tax code and social security calculations, Income Strategy goes far beyond currently available retirement calculators,' claims William Meyer (pictured) about his new income planning software.
German workers adjust to retirement plans without guarantees
Germany, like the U.S., has a retirement plan coverage problem. A new law, for the first time, allows employers and workers to set up U.S.-style defined contribution plans. But...
Former New York Life executive Chris Blunt joins Blackstone
Mr. Blunt joins Blackstone after 13 years at New York Life, where he most recently served as president of the Investments Group.
Honorable Mention
RetireUp acquires RepPro, Northwestern Mutual hires Lori Brissette from USAA and invests in ClientWise; Eversheds Sutherland starts a catastrophe relief fund for its employees; Robert P. Regnery and Kenneth...
“Fiduciary” share of advised retail assets up 68% since 2005: Cerulli
'Fee-based relationships better align with the goals of firms, advisors, and investors by tying revenue growth to client portfolio performance,' Cerulli commented.
Is Northwestern Mutual’s new ad campaign a bellwether?
'Through focus group research, Northwestern Mutual found that the tension between living for now and saving for later was universal for people regardless of demographics,' a press release said.
Voya’s strength ratings are under review
In late December, Voya announced that it would sell its closed block variable annuity (CBVA) and individual fixed indexed annuity (FIA) segments to a consortium of investors led by...
Honorable Mention
Envestnet, AdvisorEngine and The Segal Group all make acquisitions, and Zillow estimates the total value of U.S. homes at $31.8 trillion. Lincoln Financial appoints Joe Mrozek to head of...
Even RIAs are feeling pressure to charge less and automate
RIAs appear to realize 'that alternative pricing structures may be critical to attracting new clients,' according to a new study from Fidelity Clearing & Custody Solutions, a division of...
Britain wants to bump up retirement savings rates
Since 2012, when auto-enrollment was launched in Britain, workplace pension participation in the public and private sectors has increased to 78% in 2016 from a low of 55% in...
Employers’ growing dread: Workers who can’t afford to retire
A typical 40-year-old worker who borrows 30% of his 401(k) savings might reduce his available retirement income by 15% and delay his retirement to age 70 instead of age...
A look at what’s driving the cryptocurrency market
For emerging market companies that face a shortage of hard currency, cryptocurrencies like Bitcoin and Ethereum represent a potential alternative to US dollars.
Merry Christmas from RIJ!
Retirement Income Journal will not publish on December 28th. The next issue will appear on January 4, 2018. We wish all our readers and advertisers a safe and happy...
Sales of fee-based VAs and FIAs on rise in US: Cerulli
Much of the surge in FIA sales is a result of an inadequate supply of attractive VA guarantees. 'Advisors are looking at new retirement income solutions,' said Cerulli director...
VA sales drop in 3Q2017 despite equities rally
Ameriprise Financial and Allianz, ranked eighth and ninth in quarterly sales, saw sales increases in 3Q2017. Thanks largely to its Index Advantage structured variable annuity, Allianz enjoyed a 26%...
Home equity and purchases of long-term care services
Spikes in house prices significantly increased homeowners' use of both paid home health care and unpaid informal care but did not increase the use of nursing home care, the...
Vanguard uses blockchain to share index data
'Investment managers will be able to instantly distribute, receive, and process index data, resulting in better benchmark tracking and significant cost savings,' said a Vanguard principal.
Honorable Mention
Fujitsu settles excessive fee case, Holland debates retirement age hike, T. Rowe Price enhances its financial wellness offerings, Quebec enriches mandatory defined contribution plans, CIT assets reach $2.8 trillion...
