‘Buckets of Money’ advisor Ray Lucia Sr. charged by SEC
“The so-called backtests weren’t really backtests, and the strategy wasn’t proven as they claimed,” said the director of the SEC’s Los Angeles office.
The IRI Conference, Annuities and the American Way
Vote for Obama and you’ll get more ‘government in your knickers,’ keynote speaker Haley Barbour told 300 or so IRI meeting attendees in San Diego this week.
The Real Obstacle to a Fiduciary Standard
“Resolving the issue of principal trading is one of the great difficulties in finding a way forward in achieving harmonization," writes Arthur Laby, a Rutgers University law professor who...
Looking for growth? Delay Social Security.
It's tempting, and often necessary, to claim Social Security benefits before full retirement age. But, because of low interest rates, it makes more sense than ever to postpone claiming...
A.M. Best affirms MassMutual’s “superior” rating, keeps The Hartford “under review”
Combined, the two retirement plans businesses will result in 3 million participants and $120 billion in retirement assets under management.
U.S. growth rate to hit 2.8% by end of 2013: BMO Economics
Because of elevated unemployment, “we now expect the Fed will delay any rate hikes until mid-2015,” said Sal Guatieri, senior economist at BMO Capital Markets.
Envestnet adds FEG hedge fund research to its platform
The partnership will add FEG’s research on more than 40 hedge funds and hedge fund-of-funds to Envestnet’s platform.
Allianz Life to pay $10 million to settle index annuity complaints
Through years of controversy, the German-owned insurer has remained a leading seller of fixed indexed annuities, marketing them primarily through insurance agents.
Modest GDP rebound likely in Q3: Prudential
Consumer and business spending remain the principal drivers of U.S. growth, supported by modest gains in income, profits, and a recovery in housing.
Japan gets younger, but still struggles with longevity risk
“Traditionally children would inherit their parents’ longevity risk. However, family sizes are shrinking, and the economic circumstances of parents and children have reversed. The last bastion has thus disappeared,"...
Marsh & McLennan gives $1.5 million to Stanford Center on Longevity
According to a release, the two organizations recently collaborated on a conference where contributors from business, academia and government addressed retirement planning in the age of longevity.
“Quote” of the Week
“Today’s stock market is a constantly evolving, bewilderingly complex electronic labyrinth. Not even sophisticated traders can say with certainty what happens to their order when they buy or sell...
One 401k provider girds for price pressure as disclosure kicks in
Simply pursuing the lowest cost is a real risk for small plan sponsors, who account for 90% of the nation’s 401(k) plans, said Kevin Watt, senior vice president of...
“America the Undertaxed”
Compared with 33 other industrialized nations, total tax revenues in the U.S. were the third lowest as a percent of GDP in 2009. But MIT's Andrea Campbell doesn't necessarily...
Life annuities are more popular than retail sales suggest: AARP
In 401(k) plans that offered life annuities, 31% of current older workers and 25% of retirees planned to elect or had elected one, a study co-authored by Sandy Mackenzie...
Letter to the Editor
Jeffrey Dellinger, actuary and president of Longevity Risk Management Corp. of Ft. Wayne, Ind., comments on a recent RIJ article.
Most participants still oblivious of plan fees: LIMRA
As many predicted, the Labor Department’s 401(k) fee disclosure initiative hasn’t stirred a hornet’s nest. But we’re only two months into the sunshine era.
Young guns want to eat your lunch
Seattle-based FutureAdvisor just raised $5 million in new venture capital. The high-tech startup already ‘analyzes’ $4 billion in client assets and claims to offer guidance to 11 million 401(k)...
Participants better off in TDFs: The Principal
TDFs are better because they offer wide diversification, automatic rebalancing, and age-appropriate asset allocations, says this TDF marketer. But should all young people have high equity allocations?
Forecast from Morgan Stanley: Slightly bullish
Sellers of risk protection might not take comfort in its expectation of low rates until 2014, however.
