RIJ will return on January 5
Retirement Income Journal wishes all of its readers and strategic partners a Merry Christmas, Happy Hanukah and Happy New Year. We will publish next on January 5, 2017.
Financial institutions brace for DOL haircut
A recent survey of executives at banks and credit unions showed that the typical U.S. financial institution can expect a 17% fall in revenue from investment services because of...
Trump rally could be sign of trouble ahead: TrimTabs
“ETF flows tend to be a good contrary indicator when they become extreme, so the buying frenzy doesn’t bode well for U.S. equities,” said David Santschi, CEO at TrimTabs
Will your grandkids shop for annuities on Amazon?
'Should decide to make a large scale entrance into the insurance marketplace, this could further disrupt the current U.S. life insurance distribution model,' A.M. Best...
Ascensus to run Oregon’s public DC plan for private-sector workers
Pennsylvania-based Ascensus is the nation’s largest independent retirement and college savings services provider, with more than $139 billion in assets under administration.
Charles Schwab offers hybrid-robo with $25k minimum
Most clients will be invested in a fully automated, diversified portfolio using Schwab Intelligent Portfolios comprised of exchange-traded funds (ETFs) from Schwab, Vanguard, iShares and PowerShares.
Fitch reviews impact of DOL rule on wealth managers
Depending on whether they pursue a fee-only or commissions model in response to the DOL rule, wealth managers may benefit or suffer, said a Fitch release.
NAFA elects new board members
Brian Mann of Partners Elite Advisory Group will assume the role of chairman of the board of directors, succeeding Nathan Zuidema of Imeriti Financial Network.
On New Lincoln VA, the Income Benefit Is Mandatory
Available in 2017, the new product is called Lincoln Core Income. Its three underlying investments are all BlackRock iShares. The income benefit comes as part of the product, not...
Income benefits attract older variable annuity buyers: LIMRA
People who purchased a variable annuity contract without the guaranteed living benefit are more than five years younger (57.3 years versus 62.5 years) on average than buyers who purchase...
Did your active fund underperform? Maybe a rich kid manages it
'Managers from families in the top quintile of wealth underperformed managers in the bottom quintile by 2.16% per year,' according to a study by economists at the University of...
In the Netherlands, DB plans said to out-deliver DC plans
Seven percentage points of the extra return produced by DB plans were due to shared investment risk between current and future generations. The remaining 13 percentage points came from...
Asset managers face five headwinds: Casey Quirk
Except in the Chinese market, the rate of organic growth in global assets will likely fall below one percent in the near future, according to a new report from...
FIA sales on pace to exceed $60 billion
'While most other annuity products have faltered because of falling interest rates and anticipation of the Department of Labor (DOL) fiduciary rule, FIAs continue to thrive,' said Todd Giesing,...
Does GOP now represent the downtrodden? Not exactly
The median net worth of members of the GOP was $525,000, or 81% higher than the Democrats’ $301,000. Ethnically, 91% of GOP voters are white, while 43% of Democrats...
Securian expands suite of annuity solutions
Securian's new SecureLink Future fixed indexed annuity offers a lifetime income benefit with an 8% annual rollup in each year with no withdrawals (or 200% after 10 years with...
Honorable Mention
Brief or late-breaking items from Allianz Life, Athene Holding, MassMutual, A.M. Best and Cogent Reports.
No reason to raise rates now, writes heterodox economist
In the paper, 'Normalizing the Fed Funds Rate: The Fed’s Unjustified Rationale,' economist Flavia Dantas of SUNY-Cortland, claims that the U.S. job market is much softer than the official...
Transamerica’s new living benefit offers 1% more payout for 5-year deferral
The payout bands for single-life contracts are 4% until age 65 and 5% until age 80, with payouts for joint-life contracts a half percentage point lower. For investors who...
Edward Jones’ 401(k) plan accused again of ERISA violations
A federal class action suit in St. Louis charges the Edward Jones 401(k) plan with offering its participants high-cost funds from asset managers that were also paying tens of...
