Editorial Staff, Author at Retirement Income Journal

Published November 15, 2018

Plan contributions above the auto-enrollment minimum (currently 8% of salary) will overflow into the sidecar savings account until the sidecar balance reaches £1,000. Subsequent contributions go to the retirement...

Hybrid vigor: Many RIAs like support from broker-dealers

By Editorial Staff Thu, Nov 8, 2018

'Among advisors who switched to the hybrid model in the past one to five years, only 23% would choose to drop their broker/dealer affiliation and move fully to the...

Britain’s DB plans roiled by gender equalization

The DB schemes of the UK’s 350 biggest listed companies showed a combined estimated deficit of £36bn (€41bn) on October 31, down from a £3bn aggregate surplus on September...

SEC fines Citibank $38m for mishandling ADRs

Citibank improperly pre-released ADRs to brokers in thousands of transactions, the SEC found, when neither the broker nor its customers had enough foreign shares. This led to inappropriate short selling...

Honorable Mention

RetireOne platform to offer Great American Index Protector 7 FIA; OneAmerica crosses $2bn mark in retirement plan sales; 401(k) balances reach new high-water marks: Fidelity; Empower offers new platform...

SEC proposes the use of shorter prospectuses for variable annuities

By Editorial Staff Thu, Nov 1, 2018

The Commission has requested public comment until February 15, 2019, on the proposed rule changes, as well as on hypothetical summary prospectus samples that it has published.

Income annuity tied to debit card with cash rewards is launched

You pay Guggenheim Life about $60,000 today, and it puts $1,000 on your debit card every month for the next five years. You average 7% cash-back on purchases with...

‘Roll-in’ specialist exceeds $4 billion in account consolidations

Retirement Clearinghouse works with plan sponsors, record-keepers, and participants to complete assisted rollovers, automatic rollovers, and both assisted and automatic roll-ins.

Managed wealth exceeds $46 trillion in US: Cerulli

'As asset managers look to the future of product development and strategy, they should carefully evaluate... the increased demand for low-cost index options, fee pressure, and commoditization,' a Cerulli...

Published October 25, 2018

Brighthouse makes it easier for advisors to sell its annuities

By Editorial Staff Thu, Oct 25, 2018

'This can help firms without a fixed suitability process in place, allowing them to add fixed and income products to their shelves,' said Myles Lambert, chief distribution and marketing...

Jackson National hires Michael Falcon as new CEO

By Editorial Staff Fri, Oct 19, 2018

In other Jackson-related news, A.M. Best has removed from under review and affirmed the A+ (Superior) strength rating of Jackson National Life Insurance Co.

Honorable Mention

New CEO at Thrivent, Prudential announces $3.2 billion in pension risk transfer deals, new FIA for retirement savings from American Equity, Concord Coalition warns about growing federal deficit and...

New digital MYGA platform from Blueprint Income

'We're seeing that many of those nearing retirement want to have at least a portion of their money earning a guarantee, whether that's a guaranteed return or guaranteed income,'...

Flight from active to passive funds and ETFs slowed in September: Morningstar

Among all U.S. open-end mutual funds and ETFs, Fidelity Advisor Growth & Income saw the most inflows of all active strategies at $1.8 billion, the fund's highest inflows in a...

Two firms position themselves for the ‘open MEP’ market

TAG Resources, LLC, headquartered in Knoxville, TN, is a pioneer in the area of Multiple Employer Plans (MEPs), including creating and trademarking 'The Open MEP.'

Some investors ‘bet the farm’

By Editorial Staff Thu, Oct 11, 2018

Most respondents overestimate the probability of rare events, and underestimate the likelihood of more certain, but lower-value, payouts, according to a new paper from the National Bureau of Economic...

Are fewer people seeking financial advice?

'After an extended period of good economic news—and right before recessions—people tend to believe that they do not need financial advice,' according to this brief from MacroMonitor, a publication...

Jackson joins Envestnet Insurance Exchange

Envestnet will be offering a service called Guidance Desk that will allow unlicensed RIAs access to the consulting and fiduciary services that would enable them to use the Insurance...

Which annuities pay the most income? Cannex has a clue.

'Our study reveals a complex story—the highest guaranteed income product varies significantly by client and when income begins,' said Tamiko Toland, head of Annuity Research at Cannex.