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.
More up ratings than down among U.S. insurers: AM Best
AM Best cited an improvement in risk-adjusted capitalization stemming from the Tax Cut and Jobs Act, a modest increase in interest rates in 2018, and expense reductions.
Subscription-based planners sue SEC over Reg BI
Like eight state attorney generals, the subscription-based XY Planning Network has filed a federal lawsuit against the SEC in New York. XYPN was co-founded by celebrity adviser Michael Kitces...
Pacific Life’s new 5-year VA/GMAB rider sets -10% floor
'Unlike a structured variable annuity, there’s no cap on investment returns, so contract owners' earning potential is unlimited,” said Pacific Life senior vice president Brian Woolfolk.
40% of life insurers’ bank loans below investment grade: AM Best
'The benefit of floating interest rates on bank loans, which somewhat protects insurers from rapidly rising interest rates, is further diminished in a continued low interest rate environment,' the...
Honorable Mention
Lincoln’s Fuller wins IRI award; JP Morgan offers tool for plan advisors; Scholten to retire from Principal; Principal absorbs Wells Fargo plan services; 11% of Gen Xers still paying...
Voya rolls out risk-adjusted TDFs
In addition to selecting an age-appropriate target date fund (TDF), participants can select a risk-appropriate TDF (conservative, moderate or aggressive).
What active funds must do to survive: Cerulli
'Active fund families that have grown organically have shown that there is, in fact, a viable path to success,' said Ed Louis, senior analyst at Cerulli.
