'The average annual income for women in our sample was $52,521, compared with $84,006 for men—a difference of 37%,' according to Prudential's new survey.
Honorable Mention
Fed raises benchmark rate by 25 basis points; A.M. Best affirms the ‘A’ ratings of AXA Equitable Life; DPL Financial’s insurance platform for RIAs to offer no-commission Security Benefit...
RIJ to observe the holidays next week
Retirement Income Journal will not publish on December 27, 2018, in observance of the holidays, but will reappear as usual on January 3, 2019.
Life/annuity industry upgraded to stable from negative by A.M. Best
Although volatility ratcheted up in the second half of 2018, the equity markets and interest rate movements should be net positives for operating performance, according to a recent report...
Survey shows how advisors generate income for clients
A survey by bond dealer Incapital LLC showed that 51% of financial advisors generate income for clients from dividend-paying stocks, 43% from equity income mutual funds, and 43% from...
FIA sales will exceed VA sales by end of 2021: Cerulli
This article combines Cerulli's latest assessment of the annuity market with third-quarter annuity sales data from the Insured Retirement Institute, Beacon Research and Morningstar, Inc.
Allianz Life to nurture tech startups
The Minneapolis-based insurer will partner with SixThirty, a St. Louis-based venture capital firm that has invested in 44 'fintech' and 'insurtech' startups since 2013.
Latinos fall behind in saving even as their numbers surge ahead
The U.S. Administration on Aging predicts the Latino population that is age 65 and older will number 21.5 million and will comprise 21.55% of the population by 2060.
The fastest growing broker-deal channel? Independents
'The wirehouses’ growth rates have lagged other broker-dealer channels’ over the past one and five years. However, this is for ‘retail’ assets. The opposite is true in the high...
BlackRock to acquire almost 5% of Envestnet
The partnership calls for BlackRock, Inc., to acquire a 4.9% equity stake in Envestnet by purchasing about 2.36 million shares of Envestnet common stock for about $122.8 million.
Honorable Mention
Milliman launches “Account Lock” for participants; Principal appoints new president of Retirement and Income Solutions; Wells Fargo offers retirement planning resources to participants; Two executive appointments at Northwestern Mutual;...
VA income deferral incentives are working: Ruark
Income commencement rates on guaranteed lifetime withdrawal benefits with 10-year deferral bonuses are highest in year 1 and in years 11+, with low commencement rates in between, according to...
Jackson to reinsure closed block of John Hancock annuities
The transaction involves Jackson indemnity reinsuring approximately $5.5 billion of statutory reserves, representing an increase in Jackson’s general account liabilities of approximately 10%.
Majority of Americans expect to use robo-advice by 2025
Almost 60% of Americans expect to use a robo advisor by 2025 and 45% say robo advice will be the technology that ultimately has the biggest impact on financial...
UBS ups its financial wellness game
The new content experience delivers videos, infographics, articles and “gamified” content to teach employees about planning, budgeting, saving, managing debt, investing, and retirement.
Dutch pensions face possible benefit cuts
The MSCI World index declined by 6.7% during October and the 30-year swap rate dropped almost three basis points, to 1.5%. Interest rates are crucial for discounting future pension...
Honorable Mention
Investors Heritage enters fixed annuity business, MassMutual names Carroll as new head of Workplace Distribution, TIAA Bank acquires leases and loans from GE Capital’s healthcare business.
Fixed annuities see year-over-year sales improvement: Wink
Indexed annuity sales increased by more than 2% in the third quarter of 2018, relative to the second quarter, but rose by 38% over the same period last year,...
Brand-strength of robos is still fairly weak: Cerulli
The latest issue of The Cerulli Edge-U.S. Retail Investor Edition details the efforts of 10 of the leading digital-focused financial advice platforms in establishing brand awareness among retail investors.
OregonSaves, a state-sponsored workplace IRA, welcomes ‘gig’ workers
Since the first wave of the program launched in November 2017, tens of thousands of workers have saved more than $9 million towards retirement, according to an OregonSaves release...