MassMutual’s vision for Open MEPs (if they become reality)
MassMutual, a manager of multiple-employer retirement plans for affiliated companies since 1989, hopes to manage Open MEPs. Legislation on Open MEPs is stalled in the U.S. Senate.
‘Greatest Economy in American History’ still needs Fed help
'Leverage among corporations is historically high. We’re monitoring that and taking appropriate steps,' Fed chair Jerome H. Powell told reporters Wednesday after announcing a third quarter-point hike in the...
Instead of ‘life span,’ think ‘health span’
A conference will be held to kick off the National Academy of Medicine's 'Healthy Longevity Global Grand Challenge' at AARP headquarters in Washington, D.C. on November 6-8, 2019.
Scalia will help draft new fiduciary rule (after helping kill the old one)
'Mr. Scalia first defended the brokerage and insurance industry’s right to engage in conflicts of interest that harm retirement savers. Now, he seems eager to engage in his own...
Kindur, a young robo-advice firm, is growing up
'Our core value is to be human in a world that often just sees numbers,' said Kindur founder and CEO Rhian Horgan. The firm launched its SmartDraw income distribution...
The life of RILAs is improving
Through the first half of 2019, sales of RILAs totaled $7.7 billion, up 63% over the same period in 2018, and accounted for nearly 16% of industry-wide variable annuity...
Global aging named as world’s most powerful trend
Investors will access major trends--aging, climate change, artificial intelligence--through private markets more than public markets, a survey of institutional investors showed.
Honorable Mention
Fidelity launches a new international bond index fund; Nassau buys Foresters; distribution expands for T. Rowe Price Model Portfolios.
Most advisory firms not qualified to rely on their own research: Cerulli
The research firm identifies the internal resources that advisory firms need to be what Cerulli calls 'optimal non-users' of model portfolios.
Joint venture eyes distressed annuity books
A private equity firm and a pair of tech experts from Apollo Global and Aflac have up to $500 million to buy or reinsure risk-laden annuity books from life...
Honorable Mention
Lincoln launches two new fee-based annuities for RIAs; Broadridge to buy Fi360; SEC forms Asset Management Advisory Committee; Schwab to offer Pacific Life fee-based investment-only variable annuity; Mesirow, Financial...
France reforms retirement
The new defined contribution plans are expected to compete with traditional French savings products such as life insurance, bank savings accounts, and pensions. Asset managers Natixis, BNP Paribas and...
Fidelity’s brokerage claims industry price leadership
New commission changes take effect on October 10, 2019 for individual investors and will be available on November 4, 2019 for registered investment advisors, a Fidelity release said.
Income-producing funds from New York Life
Short-term high-yield funds, insured municipal bond funds: These vehicles offer out-of-the-ordinary options for yield hunters, says the fixed annuities sales leader.
Honorable Mention
Foreign central banks lower exposure to U.S. dollar; SOA seeks papers on retirement strategies, offers $10k award; New FIA from Nassau Re.
Asset managers need to design ‘vehicle-agnostic’ products: Cerulli
'Mutual fund providers feel pressure to prioritize development and distribution of other vehicles over the mutual fund,' said a report from the Boston-based global consulting firm.
TD Ameritrade to sell its first indexed annuity, a Pacific Life contract
'The settlements are part of an ongoing, industry-wide investigation into immediate annuity replacement practices in the state,' regulators said.
Life insurers fined over annuity exchanges
'The settlements are part of an ongoing, industry-wide investigation into immediate annuity replacement practices in the state,' New York regulators said.
Honorable Mention
Retirement assets total $29.8 trillion in 2Q2019: ICI; T. Rowe Price model portfolios offered on Envestnet platform; 27% of Americans very confident about retirement: TIAA; U.S. ranks 18th in...
Vantis Life to sell fixed annuities direct to the public
The two direct-sold products are the TaxSaver Freedom ROP and TaxSaver Freedom MYGA. Vantis Life is a unit of Penn Mutual Life.
