Conning study assesses pension risk transfer (PRT) market
'Longevity risk may be a future issue for U.S. insurers since they currently do not incur a longevity charge under RBC,' Conning analyst Scott Hawkins told RIJ in an...
UK investors more open to robo-advice than Americans
In the US, 28% of those surveyed said they don’t think they will use robo advice tools in the future, compared with only 12% in the UK.
Extra, extra! It’s a real-time event-based API!
Wealth management firms, brokers, exchanges, trading software providers and fintech start-ups can use the service, which can monitor price data on stocks, futures, options, forex, mutual funds, ETFs and...
FINRA fines MetLife $20 million for VA replacement misconduct
‘MSI represented to customers that their existing VA was more expensive than the recommended VA, when in fact, the existing VA was less expensive,’ FINRA said.
AXA and BlackRock make news, separately, in the UK
AXA will divest its life insurance and savings business in Britain and BlackRock has sold it defined contribution plan administration business in the UK to AEGON.
Free e-book from Society of Actuaries covers diverse aspects of retirement
The book, which includes essays submitted for SOA awards, includes a first-prize article by R. Evan Inglis that "provides a rule of thumb for decumulation with a range attached...
2016 Social Security Claiming Guide now available
"The Social Security Claiming Guide sorts through all the options, spells out how much you can get, and answers frequently asked questions—all in a clear, easy-to-read, and colorful format,"...
Most Americans clueless about fees: Hearts & Wallets
'We have a major problem,' said Laura Varas, founder and CEO of Hearts & Wallets, in a release. “Consumers should know what they pay... Regulation has a role, but...
Hord and Bradley-Golding join Voya’s large-plan retirement team
Bob Hord previously worked at Wells Fargo and Sally Bradley-Golding previously worked at Financial Engines.
Vanguard fees fall to as low as two cents per $1,000
The expense ratio reductions span five fund share classes (Investor, Admiral, ETF, Institutional, and Institutional Plus) across five fund categories: Domestic stock index, domestic bond index, balanced index, managed...
In DC plans, managed accounts and TDFs suit different wealth tiers: Cerulli
The four largest managed account providers in the U.S., with about 95% of the market, include Financial Engines (60%; $113.4 billion), Morningstar (21%; $40.3 billion), Fidelity (8%; $14.5 billion)...
Manager who helped launch three-insurer in-plan annuity rejoins AllianceBernstein
In his first tour at AB, Jeff Eng helped develop and launch Lifetime Income Strategy, the first target-date fund with a guaranteed lifetime withdrawal benefit rider option provided by...
Those who work longer live longer, study shows
Healthy retirees who worked a year longer had an 11% lower risk of mortality, while unhealthy retirees who worked a year longer had a 9% lower mortality risk.
Integrity Life enhances popular Indextra indexed annuity
Launched Sept. 29, 2014, Indextra has garnered sales to date of more than $800 million, making it the most successful first-year product debut in W&S Financial Group Distributors history....
Envestnet and partners add automated retirement solutions
VMS's Retirement Revolution platform offers multiple services, including plan design and set-up, full recordkeeping and administration, and fiduciary protection that addresses the new DOL rules, the companies said in...
Morningstar and Redtail expand partnership
The integration expands the relationship between the two firms. In 2014, Morningstar's proprietary research and analytics were added to the Redtail CRM user interface.
Americans still overestimate safe retirement spending rate: NY Life
At greatest risk are the 31% of respondents who believe they can spend 10% or more of their savings each year.
Symetra’s new indexed annuity offers rising lifetime payout rates
If a single person age 60 to 64 invested $100,000 in a Symetra Income Edge FIA contract, under the level option he or she would be eligible for a...
Advisors must distinguish themselves from robots: Cerulli
'As the ‘robo’ threat stirs conversations about the cost of advice, it is more important than ever for advisors to articulate their value,' said the latest edition of The...
Double-digit revenue declines at Sun Life and Manulife: A.M. Best
Nine of 23 life/annuity companies reported higher revenues in 2015, but two Canadian companies, Manulife Financial and Sun Life Financial, saw revenue declines of 38.2% and 25.2%, respectively.
