Eleven firms, and their new DOL-related policies
A quick review of changes at LPL, Great American Life, Edward Jones, Nationwide, State Farm, Jackson National Life, Merrill Lynch, Commonwealth Financial, Morgan Stanley and Ameriprise in response to...
Investors not applauding Genworth sale to China Oceanwide
Shareholders, who have been stewing for months over Genworth’s debt load, reacted to the acquisition by selling Genworth stock. The share price fell almost 4%, to $4.26, in early...
High stock valuations reduce insider-buying, buybacks: TrimTabs
'The best-informed market participants seem unenthusiastic about U.S. stocks at current prices,' said David Santschi, CEO at TrimTabs Investment Research.
TIAA survey shows popularity of closed-end funds
Nearly two-thirds (62%) of advisors recommend increasing closed-end fund allocation at retirement to diversify income, according to new research by Nuveen, a unit of TIAA Global Asset Management.
Could your job vanish after November 8? Here’s a remedy
'IncomeAssure covers salaries up to $250,000 a year. It allows policyholders to maintain their current lifestyle and pay their bills while unemployed, regardless of which candidate wins the election,'...
Passive equity funds still gaining assets: Morningstar
U.S. equity attracted steady flows on the passive side, with an estimated inflow of $19.3 billion in September, up from August's $16.4 billion.
Tall thin clients buy more equities than short fat clients, study shows
People who got taller faster as teenagers were likely to participate in high school sports and activities correlated with higher teenage self-esteem, generating a long-lasting effect related to how...
It’s splitsville for MetLife and Snoopy
'The iconic MetLife blue carries forth the brand’s legacy, but has been brightened and now lives alongside a new color—green—which represents life, renewal and energy,' said a release about...
Honorable Mention
Brief or late-breaking items from or about AXA, BlackRock, ING, Voya Financial, Shlomo Benartzi, Lafayette Life, Goldman Sachs, Jack Bogle, WISER, Prudential Investments, Morningstar and PitchBook.
Ruark reports results of first FIA mortality study
The study covered 11 million contract years of data and 165,000 deaths from thirteen participating FIA issuers.
DC plan advisors to cut sales of VAs, active funds: Ignites
Because of the fiduciary rule, 7% of plan advisors expect to reduce their use of actively managed equity mutual funds in DC plans, and 8% expect to scale back...
“Boutique DC consultants” now in demand: Cerulli
'This influential and relatively new intermediary category is a bright spot against a difficult DC landscape characterized by negative net flows in the corporate DC market, fee compression, and...
Pension risk transfers have varied effects, actuaries say
Pension risk transfers may include the purchase of annuities from life insurers, the payment to plan participants of lump sums, and/or the restructuring of plan investments to reduce risk...
Honorable Mention
Brief or late-breaking items from Wells Fargo , Great-West, Raymond James, Prudential, LifeYield and Envestnet.
Envestnet’s new tools to aid compliance with DOL rule
Envestnet, the Chicago-based technology firm, is seizing the opportunity to help broker-dealers prepare for compliance with the DOL fiduciary rule, which becomes effective next April.
Ghilarducci book calls for new breed of DC plans
Economist Theresa Ghilarducci sees the existing 401(k) system as a half-full glass; she proposes a new glass, mandatory, without leakage, less tilted to high-earners, centrally managed and leading to...
Mercer offers new turnkey fiduciary services to plan sponsors
'Plan sponsors face an increasingly difficult regulatory environment, increased litigation risk and heightened demand on their limited resources to support their 401(k),' said a Mercer executive.
Women need advice on claiming Social Security: Nationwide
Despite the expiration of the 'file-and-suspend' claiming strategy, the need for general Social Security advice and guidance still represents a big opportunity for advisors--especially with older women, according...
Nationwide to acquire Jefferson National, provider of IO-VAs to RIAs
Jefferson National serves nearly 4,000 RIAs and fee-based advisors with its product Monument Advisor, an investment-only variable annuity with a flat monthly fee rather than an expense ratio.
