1Q 2013 M&A involving RIAs valued at $5.8 billion: Schwab
It was the highest quarterly total since the first quarter of 2012, when 17 deals were closed totaling $24 billion in AUM.
Peace of mind trumps wealth as concern of older affluent Americans
Serious health problems, dependency on one’s family, and outliving assets ranked among American's top concerns when asked about their views on living a long life (72%, 60%, and 47%,...
Envestnet adds HiddenLevers to platform
The integrated solution will be available from Envestnet in June 2013. HiddenLevers is a New York-based financial technology company that builds risk management and macro-economic analysis tools.
CANNEX adds “4 Box” income planning to its data platform
The 4 Box Strategy is the creation of Farrell Dolan, former executive vice president of income planning at Fidelity Investments.
Insurance Tips for Pre-Retirees
As of April 15, 2013, gender-specific pricing for long-term care insurance has been introduced. But there's a discount available to couples who apply for long-term care insurance together, said...
Quote of the Week
“The largest theme in the VA product space is still de-risking--though I don’t remember it being called 'risking' back in 2005 and 2006,” quipped Casey Malone of Milliman’s Seattle...
Athene divests Aviva USA’s life insurance business
Athene Holding, a private equity firm, needs a life insurance operating company in order to issue fixed indexed annuities, but it has no interest in being in the life...
Wells Fargo DC plans to carry Prudential’s in-plan annuity option
IncomeFlex allows plan participants who are nearing retirement to buy a stand-alone living benefit that works a lot like the guaranteed lifetime withdrawal benefit on a retail variable annuity...
Financial Engines makes Income+ service portable from 401(k) to IRA
Income+ is a retirement income planning service that Financial Engines launched in late 2011. Morningstar Inc., a Financial Engines competitor in this space, also made an announcement this week.
With Income Annuities, a Lot of Knowledge (or None at All) Is Better than a Little
Annuity marketers may want to start stressing the link between annuities and independence in old age, rather than just income in old age. That's one of the takeaways from...
Snoopy Takes a Cue from the Gorilla
With the brand-new MetLife Shield Level Selector accumulation annuity, as with as the similar AXA Equitable Structured Capital Strategies product, investors can get a higher cap on their index-linked...
Nine Insurers Now Offer DIAs
Here are thumbnail descriptions of deferred income annuities from American General, Guardian Life, MassMutual, MetLife, New York Life, Northwestern Mutual, The Principal, Prudential and Symetra.
Securian, Nationwide add managed-vol funds to VAs
The trend toward embedding risk-management mechanisms inside variable annuity portfolios continues.
Small is beautiful, say these plan providers
Transamerica launches a new service for small-plan sponsors, The Online 401(k) jumps into the auto-IRA business, and Fidelity announces that small-plan balances have rebounded 64% since the nadir of...
Which is better for Ireland: Auto-enrollment or mandatory participation?
A report by the Organization of Economic Cooperation and Development says compulsory participation in national defined contribution plans is more effective and less expensive than auto-enrollment programs.
‘Fiduciary duty’ remains under-defined, says UK law professor
“This is all about what you do with other people's money – you can't get more political than that. It’s very difficult to lay down a hard and...
Jackson National adds investment options to Elite Access VA
Sales of Elite Access were $1.3 billion in 2012, the company said. Jackson’s total VA sales in 2012 were $19.7 billion, up from $17.5 billion in 2011.
Equity rally fosters optimism among non-retired: Wells Fargo/Gallup survey
Just over half of investors polled say now is a 'good time' to invest in the financial markets, up from 39% in the fourth quarter of 2012 and at...
Six new investment options for Prudential’s Highest Daily VA
The Highest Daily (HD) VA now offers 21 asset allocation portfolios in four strategies (traditional, tactical, quantitative and alternative).
Should ERISA regulations extend to rollover IRAs?
Americans move about $300 billion from 401(k) plans to rollover IRAs every year. That’s good for brokerage firms but it leads to higher fees and less protection for savers,...
