A Man of Conviction

How did Matthew Hutcheson, once a poster boy for fiduciary rectitude, turn into the wanted-poster man for fiduciary misconduct? But his ill-fated deal for the Osprey Meadows golf course (pictured) in Idaho was just a subplot within a subplot of the 2008 real estate bust.

Research Roundup

We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'

An Annuity’s ‘Moneyness’? There’s an App for That

How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.

A Chip Off the Old Rock?

Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
Featured

Principal Financial Joins the DIA Club

The Principal Financial Group is stepping up its individual retirement income business by introducing a new deferred income annuity and engaging annuity consultant Moshe Milevsky, vice president Jerry Patterson told RIJ.

Greetings from New Orleans

At the LIMRA-LOMA-SoA Retirement Industry Conference in the 'Big Easy' this morning, Bob Kerzner sprang the news that his organizations will sponsor a new retirement designation--for home office employees, not advisors or producers.
News

American General introduces FIA with 7% roll-up

The contract offers three interest-crediting strategies – a one-year fixed interest account, an annual point-to-point index interest account, and a monthly point-to-point additive index interest account.

The Phoenix Companies launches Income Elite Annuity

Contract holders can choose from three different point-to-point indexed accounts and a fixed account. In lieu of stronger death benefit guarantees, the product is designed to provide a larger guaranteed income.