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.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
This week, RIJ received a press copy of “What Advisors Want from Annuity and Insurer Providers-2019,” a study by Practical Perspectives, a Boxford, MA-based financial services market research firm.
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.
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.
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.
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.
According to a New York Life example, if a 37-year-old male purchased a GFIA with a $5,000 IRA contribution and then contributed $5,000 annually for the next 30 years, at age 67 he could receive over $19,000 a year for life.
The assets grew at an annualized rate of 136% from the end of 2009 through the end of January 2013. Northern Trust has approximately $214 billion in DC assets under custody.
The company acquired the '635 Patent and the related Mapping Compliance Information solution in 2010 when it purchased NewRiver, Inc.