Having stopped Congress from cutting tax breaks for savers in December's tax bill, the American Retirement Association celebrated with three-days of reflection and revelry in Nashville.
'We can stick with business as usual, or we can work with regulators to remove some of the hurdles to selling annuities,' said Ernst & Young's Doug French at the Retirement Industry Conference in Chicago last week.
Pitching to RIAs
RIAs hate annuities--unless they can exchange a client's existing contract for something cheaper and more suitable. Great-West sees opportunity there.
'Instead of spending down, a large number of retirees are continuing to accumulate assets throughout retirement,' writes Sudipto Banerjee of T. Rowe Price, who prepared the report on decumulation for the Employee Benefit Research Institute.
Having kicked the fiduciary can for two decades, the SEC has finally done something. But it didn't seem to do much--or, more importantly, enough--to define the phrase "best interest."
People in motion include Aaron Sarfatti, Scott Romine, Greg Masucci, Tim Munsie, Patrick Murphy and Chris Neczypor.
The industry garnered a year-over-year $9.5 billion tax benefit in 2017 due to the impact of tax reform. Nearly three-quarters of that went to Prudential, MetLife and Aflac.