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...
MetLife retail business will be Brighthouse Financial
The separation will allow MetLife to focus “on our group business in the U.S… and our international operations,” said Steven A. Kandarian, MetLife chairman, president and CEO, in a...
Who has skin in the presidential race? Not insurers!
Low interest rates were cited as the biggest industry threat (by 37.6% of insurers), followed by increased regulations (26.2%), competition (19.3%) and antiquated business models (12.4%).
Conning expects lower annuity sales in 2016-2017
'The greatest disruption will be seen in mid-sized and large insurers with greater focus on indexed and variable annuities,' said Steve Webersen, head of Insurance Research at Conning.
Betterment reaches $5 billion in AUM
Betterment also announced this week that Amy Shapero has joined the company as Chief Financial Officer.
Vanguard emeritus Jack Brennan to chair FINRA
Brennan has served as FINRA’s Lead Governor since 2011. In June, FINRA announced that Robert W. Cook will become FINRA’s new chief executive in the second half of 2016.
Incomes, Cost-of-Living Higher in Blue States: LendingTree
In LendingTree's survey, Hillary Clinton supporters were almost twice as likely to say they were financially very happy as were Donald Trump supporters (18.3% vs. 9.3%).
A new topic for Brits to argue about: Decumulation
Two UK small-plan providers, The People's Pension and Now Pensions, don't want NEST, the public DC option for small companies, to offer a retirement income strategy in competition with...
Brexit a “negative” for US life insurers: Fitch Ratings
The Brexit vote will negatively affect GDP growth in the UK and elsewhere, which will likely prompt central banks around the world to extend their monetary easing policies, Fitch...
The short goodbye… it’s linked to retirement readiness
With mandatory retirement ages largely a relic of the past, a new whitepaper claims that a robust defined contribution plan, with auto-enrollment and auto-escalation features, can accomplish the same...
Honorable Mention
Brief or late-breaking items from MassMutual, Milliman, and OneAmerica.
Now accessible on all platforms: DOL fiduciary training from LIMRA
'DOL Fiduciary Basics for Employees' is presented in 13 multimedia vignettes, each several minutes long. The vignettes are accessible through mobile devices, tablets, or personal computers.
Lapse rates of ordinary life products near two-decade low: A.M. Best
The last two years have seen the highest persistency rates in nearly 20 years, around 86%, according to a new A.M. Best report.
