Goldman Sachs acquires NextCapital
NextCapital, based in Chicago, is an open-architecture digital retirement advice provider that partners with US financial institutions. Terms of the acquisition were not disclosed.
‘SECURE 2.0’ Passes House, Moves to Senate
Retirement industry stakeholders and their representatives praised the passage of the bill, HR 2954, which loosens the rules on RMDs and QLACs and clears the way for ETFs in...
Breaking News
Equitable to buy CarVal, a $14.3bn alt-assets manager; Life/annuity industry capital and surplus at year-end 2021: $444.5 bn; HealthView Services reports on rising medical costs; PBCG licenses insurer data...
Target-date fund assets grow to $3.27T: Morningstar
Five providers control 79% of the target-date market: Vanguard, Fidelity, BlackRock, State Street, and American Funds, according to Morningstar's 2022 Target-Date Strategy Landscape report.
Deferred annuity sales reach $243 billion in 2021: Wink
The top selling annuity issuers by category were Jackson National (variable), Athene (indexed), Allianz Life (structured), and Global Atlantic (fixed-rate). Jackson and MassMutual were the top sellers of variable...
New MassMutual VA features RetirePay, an income rider
Best known as a fixed annuity specialist, MassMutual had just $11.7 billion in VA assets under management as of Sept. 30, 2021, according to Morningstar. Overall, MassMutual was ranked...
Life/annuity industry moving toward equilibrium: AM Best
The life/annuity industry is approaching an equilibrium between companies seeking 'to build a less capital-intensive business' and those with 'a capital-intensive business appetite,' the ratings agency said.
AIG, Innovator, and Reliance Standard announce new products
AIG and Annexus co-launched X5 Accelerator, a fixed indexed annuity (FIA) with a lifetime income option; Innovator added 'Buffer Step-Up' strategies to its lineup of Managed Outcome ETFs, and...
For Jackson National Life, 2021 was a pivotal year
In reporting its fourth quarter and full-year 2021 results, Jackson National Life marked its separation from Prudential plc, its listing on the New York Stock Exchange, and $3.2 billion...
How RIAs can stay ahead of the competition: Cerulli
Broker-dealers 'are impinging on what has historically been viewed as largely unique to the RIA channels—an independent, fee-based business centered on financial planning,' a new Cerulli Associates report says.
Raising Social Security age may be necessary, actuaries say
Increases in US longevity point to a need to drive up the age for claiming full OASI benefits, says the American Academy of Actuaries. But the rich live longer...
Lawsuits against DOL won’t change client strategy: Reish
On February 2, the Federation of Americans for Consumer Choice sued the DOL in Texas federal court. In a second suit, the American Securities Association sued the DOL in...
Assets in TIAA’s custom RetirePlus TDFs cross $10 billion milestone
TIAA's RetirePlus gives 403(b) plan participants access to a customized target date fund with an investment sleeve that can be turned into lifetime income.
Breaking News
Labor Department investigates Alight, a major recordkeeper; Timber Operators transfer $245 million in pension risks to Prudential; Lincoln enhances its flagship fixed indexed annuity; Price of pension risk transfer...
RetireOne partners with DFA, Midland National Life on stand-alone living benefit
Many RIAs would like to give their clients a lifetime income guarantee without cannibalizing their assets under management. A contingent deferred annuity, aka a stand-alone living benefit, lets them...
It’s Back: The Norcross-Walberg Bill to Make Annuities a 401(k) Default
Under the bill, participants who are defaulted into an annuity must have 180 days before their premium becomes illiquid, and the participant must receive 30 days notice before the...
Athene launches new RILA: Amplify 2.0
A 6-year term contract with a 10% downside buffer and a 0.95% annual segment fee can earn uncapped returns equal to 140% of growth in the S&P 500, an...
Breaking News
American Life & Security receives B++ rating from AM Best; SEC proposes more sunlight on private funds; Fidelity is accused of lax oversight of options and margins traders; Principal...
Rising interest rates will have diverse effects: Cerulli
The impact of higher inflation, and higher discount rates, will be less severe on insurance company general accounts than on endowments and foundations, which benefit from low rates, the...
More Sources of ‘Bermuda Triangle’ Information
This week, McKinsey & Co. and Cerulli Associates weighed in on different aspects of the 'Bermuda Triangle' phenomenon. We provide links to and excerpts from their white papers, and...
