Wisdom from Advisors to the ‘One Percent’
To satisfy super-rich clients, be as inventive as Ray Croc when he invented the 15-cent hamburger, advisors at UBS, Merrill Lynch and Manchester Capital Management told members of the...
Congress Shuts $50,000 Social Security ‘Loophole’
The problem with file-and-suspend was that it threatened to bleed an estimated $10 billion a year from a system already suffering from financing issues.
Principal Adds ‘In-Plan’ Deferred Income Annuity Option
Participants in Principal Financial defined contribution plans will be able to buy deferred income annuities a little at a time or in a lump sum just before retirement.
DOL “delouses” socially responsible investments
Economically-targeted investments, including socially-responsible mutual funds and "green bonds," can be offered in ERISA-regulated retirement plans if they offer competitive return expectations and no unusual risk, Labor Secretary Tom...
‘De-Risky’ Business
Prudential has dominated the burgeoning market in jumbo pension buyouts. In the week following Prudential deals with JC Penney and Philips Electronics, RIJ spoke with Peggy McDonald (above), an...
The Link between Inequality and ‘Retirement Readiness’
“In North America – alone among regions – the population share of the middle class exceeds their share of wealth: in other words, the middle class as a group...
Takeaways from the FPA Conference in Boston
At the Financial Planning Association's Business and Education Conference in Boston last weekend, Bill Reichenstein talked about tax-efficient withdrawal strategies, Steve Deschenes made a case for income-oriented American Funds,...
Questions for the DOL’s Tim Hauser
The DOL may believe that, by establishing a blanket “Best Interest” principle, it won’t have to pick winners and losers. But it can’t avoid picking winners and losers. A...
Will the ‘BIC’ Affect QLAC Sales?
We're talking about the DOL's proposed Best Interest Contract exemption and sales of Qualified Longevity Annuity Contracts. "Most firms will just pass on this uncertainty and risk," said Caleb...
The DOL’s Missed Opportunity
By proposing a solution that could disrupt the distribution of financial products and deny broker-dealers a major source of revenue, the DOL guaranteed resistance. Instead, it might have required...
How to Personalize Withdrawal Rates
Safe spending rates range from 2% to 10%, writes researcher Luke Delorme in the Journal of Financial Planning. It all depends on when people retire, how much guaranteed income...
GM Adds Hueler’s Income Solutions to its DC Plan
GM closed its defined benefit plan in 2012. Its 401(k) provider is Fidelity. To offer its DC plan participants an option to roll over part of their savings to...
The People’s Retirement Industry Group
To mark the Retirement Income Industry Association’s 10th anniversary, RIIA founder and chairman Francois Gadenne (above) spoke with RIJ recently about the group’s past, present and future.
Of Fly-Fishing and Financial Advice
I and most other people would hope that our investment advisors or financial planners would render us the same quality of service, at least in spirit, that I received...
DOL Hearings: Wonkishly Stimulating
“I believe the proposal is intended to eliminate the commission model,” said Ron Kruszewski of Stifel Financial during the hearings on the DOL conflict of interest proposal. Scott Puritz...
RIJ Takes a Vacation
Retirement Income Journal will next appear on September 3, 2015. We will not publish on August 20 or August 27. During that time the management and staff will be...
Conflict of Interests
On Monday, the hearings on the Department of Labor's fiduciary proposal will begin in Washington. Will they deal with the fundamental issues, or with legal technicalities? (Link to the...
If It Ain’t Fixed Indexed, It’s Broken
Fixed indexed annuities remain a niche product, representing only about 10% of annuity sales. But that the niche has grown into an almost $50 billion-a-year business. Sales of FIAs...
Is It Time to End Tax Deferral?
This strikes me as the issue at the heart of the controversy over the Department of Labor's conflict-of-interests proposal—the issue we duck and dodge, while pretending that it’s all...
FINRA Sides with Brokers against DOL Proposal
As it stands, the “fractured approach" of the Department of Labor conflict-of-interest proposal "will confuse retirement investors, financial institutions, and advisers,” wrote FINRA executive Marcia Asquith in a comment...
