Industry-sponsored legal study attacks ‘robo-advisors’
A recent paper by D.C. attorney Melanie Fein argues that “Robo-advisors do not provide personal investment advice, do not meet a high standard of care for fiduciary investing, and...
The Bucket
Brief or late-breaking items from T. Rowe Price, Wealth-X, MassMutual, Voya, AARP, JPMorgan and BNY Mellon Fiduciary Solutions.
Will DOL proposal trigger “ratings events”? Too soon to say: A.M. Best
"The DOL has been receptive to insurers’ concerns and the next proposal could have significant changes,” A.M. Best analysts wrote.
Voya adds volatility-controlled index to its FIAs
"The Point-to-Point Volatility Control Strategy tracks Deutsche Bank's proprietary CROCI (Cash Return on Capital Invested) US 5% Volatility Control Index," a Voya release said.
Kehrer Bielan releases bank annuity sales study for 2014
The ten largest third-party broker dealers, which support annuity and investment sales in 2,559 banks and credit unions, accounted for 38% of the total annuity premium sold through financial...
Life insurers will take ‘manageable’ GAAP charges in 3Q2015: Fitch
"We believe that the Fed's position increases the likelihood that life insurers will take GAAP charges in third-quarter 2015 tied to a revision in long-term rate assumptions," Fitch analysts...
Envestment managed accounts to be offered in MassMutual 401(k)s
The service is called “RetireSmart Ready Managed Path.” The asset allocations use investment options already offered by the plan. The service is available to MassMutual plans with at least...
Assets of Money Market Institute firms rise to $4.2 trillion
The "representative as portfolio manager" continues to be the fastest-growing model within the wealth management industry, according to a new report from the Money Market Institute.
Retirement conferences this fall
Here's a list of fall 2015 and winter 2016 conferences that might interest you, starting with the Financial Planning Association's annual conference in Boston this weekend.
Mega-deals missing from first-half life/annuity M&A: A.M. Best
Over 40% of all deals were cross-border M&As, as companies go international in search of growth. A.M. Best believes private capital, whether buying or selling, will continue to play...
Vanguard and T. Rowe Price launch international funds
New low-cost Vanguard index funds look for dividend-paying stocks overseas, while an actively-managed T. Rowe Price fund searches for undervalued financial, telecommunications and consumer discretionary stocks in emerging markets.
The Bucket
Brief or late-breaking news from Allianz Life, American Funds/Capital Group, Pershing, 3D Asset Management, Morningstar Investment Services, and Wilshire Associates.
New investment-focused variable annuity from Nationwide
Nationwide posted $2.76 billion in variable annuity sales in the first six months of this year, for a 4% market share. The Columbus, OH-based firm ranked eleventh in total...
Since 1967, income has shifted upward: U.S. Census Bureau
Households where a married couple is present have the highest median income, at more than $80,000. Non-family households led by a female have the lowest median income, at less...
Robo-advisors should shift to B2B model: Cerulli
"Cerulli projects eRIAs will need to grow approximately 50%-60% per year for the next six years and gather approximately $35 billion in AUM to remain a standalone direct channel...
Flows to bond ETFs increased in September: TrimTabs
The rush into bonds has not occurred in response to strong absolute performance, TrimTabs said. Treasury bond ETFs are down 0.4% since the start of August, while corporate bond...
Traits of “leading” life/annuity issuers: Conning
In the 2015 edition of an annual report, Conning named 20 life/annuity specialists for superior performance, based on their operating margin, return on surplus, premium growth, sales and other...
New York Life offers dividend-paying income annuity and QLAC
The release didn’t say whether or not the initial income payout from Mutual Income would be lower than the initial income payments of an annuity that does not offer...
Fitch publishes “US Life Insurance GAAP Results Dashboard”
"Operating results were almost evenly split between companies reporting better returns in first-half 2015 and those reporting worse returns during the period," Fitch analysts wrote.
Nationwide hands the ball to Peyton Manning again
This fall, the veteran quarterback of the Denver Broncos will be putting fresh lyrics to the tune of Nationwide Financial's well-known "On Your Side" advertising jingle.
