US Equity Flows Cool Down in April: Morningstar
After record inflows of $54 bn in March, US equity funds shed over $500 million in April. Large-blend funds saw roughly flat net flows in April after collecting $25...
24 billion trades recorded on last January 27: Cerulli
The infamous short-squeeze craze of 2021, led by Millennial and Gen-Z investors on Reddit, led to an average of 15 billion trades per day executed in January 2021.
Honorable Mention
Under proposed bill, non-profits could join PEPs; NY ruling on Reg 187 could help life sales: AM Best; Jason Fichtner named chief economist at Bipartisan Policy Center; John Thiel...
Fidelity’s average 401(k) balance: $123,900
The average 401(k) employer contribution rate was 4.6%, and the average contribution was $1,720. Among 403(b) accounts, the average employer contribution was 4.1% and the average amount was $3,000.
Structured annuity (RILA) sales volume up 89% in 1Q2021: LIMRA SRI
'RILAs offer better pricing than indexed annuities to investors looking to mitigate downside risk and enjoy potential investment growth as the bull market continues,' said Todd Giesing of LIMRA...
Honorable Mention
SPCG, a new consulting group, focuses on structured products; MassMutual and Arconic Corp in $1 billion pension risk transfer deal; ‘Jackson Financial’ appoints new directors; Allianz adds 'auto lock'...
Expect RILAs to outsell FIAs by 2024: Wink
'At the current pace, sales of structured annuities (aka registered index-linked annuities or RILAs) will have climbed higher than those of indexed annuities at a comparable point in the...
Honorable Mention
MassMutual inks $200m deal with venture fund; Chip Castille’s fintech startup gets $2.75m infusion; Silvur has a financial wellness app; New York Life to aid low-income communities.
Prudential closes $8.4 billion pension reinsurance deal
'We see the use of a third-party onshore UK-regulated insurer as limited recourse intermediary as the logical next step in de-risking solutions,' Prudential's Rohit Mathur said.
Honorable Mention
Pentegra launches Pooled Employer Plan; Betterment’s AUM rises to $29 billion; Symetra creates its own RIA; Ubiquity adds ESG options to 401(k) investment lineup.
Advisors underestimate interest in ESG investing: Cerulli
'Asset managers and advisors are discounting the interest from a broad swath of the investing public,' Cerulli's Matt Belnap said. 'Both asset and wealth managers should seek to make...
DOL releases guidance on fiduciary investment advice
The Biden Department of Labor evidently wants retirement plan participants to be ready with questions to ask advisers who invite them to roll their plan assets to a brokerage...
Life Insurers face “The Great Call”: Larry Rybka
Isn't it time for someone to say something loud about the damage (seen and unseen) inflicted on traditional life insurance companies--and their strategic partners and customers--in recent years? Larry...
ALI announces new research chair, ties with CANNEX
The Alliance for Lifetime Income said economist Jason Fichtner will chair its Retirement Income Institute and that it would partner with CANNEX to produce new research on annuities.
Why bonds fit awkwardly in the separate account space
'The bond market is structured around the trading habits of large institutions,' said a Cerulli director. 'With rare exceptions, fixed-income separately managed accounts are likely to continue to be...
Updates from Allianz Life, Athene and Investors Heritage
New caps on AllianzIM Buffered Outcome ETFs; Investors Heritage Life offers climate-friendly index on new FIA; AccuMax is launched by Athene.
Honorable Mention
Edward Jones pays $34 million to settle suit by minority advisors; J.P. Morgan to diversify advisor hiring by 2025; HUB launches bundled retirement plan for small to mid-sized employers;...
VAs suffer record outflows, but enjoy record assets
As Morningstar's quarterly VA sales report for 4Q2020 shows, the VA business is complicated, with record-high sales of index-linked VAs, record-high VA assets on the books, but record...
Honorable Mention
Canadian firm buys Ohio National for $1 billion; Net income of life/annuity industry fell almost 50% in 2020; New index annuity income rider from AIG; SIMON adds First Trust...
At the Supreme Court, a stress test of ‘best interest’ promises
'To protect its sterling image, and its share price, Goldman made false statements that it always acted in its clients’ best interest and carefully managed its conflicts,' said...
