Honorable Mention
Brief or late-breaking items from Pacific Life, Genworth, MetLife, LPL, BlackRock, Fidelity, Prudential (2) and Advicent.
A Maserati for the Mo-ped market
Having purchased GE Capital and Honest Dollar, Goldman Sachs is poised to go down-market with retail banking, lending and retirement account services. Look out below!
MassMutual settles suit over its own retirement plan for $30.9 million
The terms of the settlement include a provision that MassMutual will not charge its plan participants more than $35 each for standard recordkeeping services for the next four years,...
Vanguard funds continue to dominate asset flows: Morningstar
Active Vanguard funds received $2.84 billion in May and $18.47 billion in the year ending May 30. Among passive funds, Vanguard funds and ETFs netted $18.94 billion in May...
European pension executives criticize quantitative easing
The European Central Bank is “distorting the market” for corporate debt, several pension executives said at an institutional investors' summit in Vienna this week.
Honorable Mention
Brief or late-breaking items from Ernst & Young, Nationwide (2), Social Security Administration, Capital One, Retirement Clearinghouse, and the Bipartisan Policy Center.
U.S. life insurers saw stocks decline in first quarter: A.M. Best
Prudential Financial reported the largest revenue decline in terms of dollars, decreasing $1.2 billion, or 7.9%, due to a combination of fewer premiums, mainly from its retirement business, and...
Security Benefit offers floating-rate fixed annuity
Contract owners receive a guaranteed base rate of interest that is set for the contract’s Guarantee Period, plus the 3-Month ICE LIBOR USD Rate (subject to a cap), which...
Robert W. Cook, attorney and former SEC official, to lead FINRA
Cook has been a partner in the Washington, D.C., law firm Cleary Gottlieb Steen & Hamilton LLP. From 2010 to 2013, he served as the director of the Trading...
Honorable Mention
Brief or late-breaking items, including announcements of personnel developments at AIG, MetLife and the Retirement Security Initiative.
Vanguard publishes ‘How America Saves,’ its 401(k) almanac
Among participants entering Vanguard plans for the first time in 2015, about 80% were invested entirely in a professionally managed allocation. By 2020, the average will be about 68%...
Here’s your copy of NAFA’s suit against the DOL
The National Association of Fixed Annuities' suit asks the federal court in the District of Columbia to vacate the DOL’s new fiduciary or conflict-of-interest rule, which could make it...
Social Security, still designed for ladies who’ve vanished
Two proposed changes to Social Security would help the program meet the needs of divorced women and single-mothers--needs that weren't considered when the program was created, according to...
Was that a zig (or a zag) on interest rate policy?
“I know market participants really want to know exactly what’s going to happen,” Fed chair Janet Yellen said in a speech in Philadelphia this week. “There is, as I...
Honorable Mention
Brief or late-breaking items from E*Trade, Personal Capital, MassMutual, Northwestern Mutual, State Street Global Advisors, and Pershing/BNY Mellon.
To make small advisory accounts cost-efficient, Voya uses white-label technology
“We’ve been watching assets migrate to the mutual fund complexes and away from our broker dealer. We wanted to create a product to help capture those accounts,” Voya's Andre...
Chinese bid to acquire Fidelity & Guaranty Life delayed
Anbang withdrew its application to acquire the company with the New York State Department of Financial Services, Fidelity & Guaranty said in a filing on Tuesday with the Securities...
Indexed annuity industry sets sales record in 1Q2016: Wink
Allianz Life was the dominant carrier, with an 18.4% share of the indexed market. Its Allianz 222 Annuity was the top-selling indexed annuity for the fifth consecutive quarter.
Pension buy-out volume up 21% in first quarter
At $1.084 billion, first quarter sales exceeded $1 billion for the first time since 2008 on 68 transactions, according to the LIMRA Secure Retirement Institute.
Honorable Mention
Brief or late-breaking items from Morningstar, NFP and vWise.
