RIJ Takes a Two-Week Vacation
Retirement Income Journal will not appear on August 25 or September 1. The editorial staff is taking its annual vacation. We'll return with the September 8, 2016 issue. Thank...
Advisors in limbo regarding DOL rule
More than four in ten advisors (43%) said they may plan to expand services offered to more holistic planning and 26% may plan to focus on non-qualified accounts, according...
Lull in “fintech” funding observed
A new KPMG report attributed the drop to “a tougher climate for marketplace lenders and a drop in mega-round activity.”
TIAA creates fund to invest in ‘super-regional’ malls
Super-regional malls are “a distinctly strong and stable performer throughout multiple cycles,” said Suzan Amato, managing director of TIAA Global Asset Management.
T. Rowe Price reports on trends in its retirement plans
The average deferral rate among T. Rowe Price plan participants was 7%, far below the recommended level of 15% (which includes the employer match). About one-third of participants are...
Variable annuity fee income boosts Jackson’s performance
'Consistent with the rest of the industry, variable annuity sales have slowed due to market volatility and activity surrounding the U.S. Department of Labor fiduciary rule,' said Barry Stowe,...
TIAA buys Everbank
EverBank stockholders will receive $19.50 per share in cash, or an approximate total of $2.5 billion.
Lincoln Financial Distributors enhances annuity sales demonstrator
The enhancement “helps advisors address the impact taxes have on retirement planning and the need for income in retirement,” said John Kennedy, head of Retirement Solutions Distribution, Lincoln Financial...
Scalable Capital, a German robo, enters UK market
In addition to the average ETF fee of 25 basis points, Scalable Capital charges an all-in annual fee of 75 basis points, for an approximate annual expense ratio of...
Manweb Group and Abbey Life complete £1bn pension risk transfer
The deal is structured as a tri-partite insurance policy between Electricity Pension Trustee Limited, Manweb (a unit of Scottish Power, which is a unit of Iberdrola) and Abbey Life,...
Bank of England’s rate cut draws criticism
'Trustees of pension schemes, whose deficits keep rising, are facing almost impossible investment dilemmas,' said Amlan Roy of the London School of Economics.
AARP offers $150k for Social Security innovation
Up to five successful applicants to AARP's 'Social Security Innovation Challenge' will be awarded up to $30,000 each to develop their policy innovations further.
In July, U.S. equity ETFs received biggest inflow of 2016
It’s a sign that “market participants are as confident as ever that central bank intervention will keep inflating asset prices,” said David Santschi, CEO at TrimTabs.
DC plans still slow to embrace lifetime income: Willis Towers Watson
Most employers prefer education and planning tools, and partial or systematic withdrawals during retirement, to annuities or other managed payout options, which consultants called “more effective."
Quote of the Week
“We see a very dramatic increase in the phenomenon of flat or falling incomes. The proportion of households that have been affected by this trend has virtually exploded, from...
Summer Issue of the Journal of Retirement Appears
Of the eight new articles, the one called “Strategies for Managing Retirement Risks” might be the most relevant for financial planners and advisors.
Most plan providers expect DOL rule to help asset retention: LIMRA
'Nearly three quarters of plan providers anticipate their call center staff will need training to be able to distinguish education from advice,' said Matthew Drinkwater, Ph.D., assistant vice president,...
Net income of life/annuity industry down 73% in 1Q2016: A.M. Best
A.M. Best views the industry as having adequate risk-adjusted capitalization, which is supported by the continued overall profitability.
Honorable Mention
Brief or late-breaking items from MassMutual, Fidelity, New York Life, Raymond James, Allianz Life and Millennium Trust.
Quote of the Week
“In choosing between various political parties and programs for the commonwealth’s social and economic organization most people are uninformed and groping in the dark. The average voter lacks the...
