“The banks shouldn’t be running casinos on the side,” said former Fed chairman Paul Volcker at the Hyman P. Minsky Conference in New York last week.
Boston College, DCIIA and Morningstar provide new research on Britain's 'NEST' experience with auto-enrollment, custom TDFs and why replacing bad 401k investment options is a good idea.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
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?
"It should be noncontroversial that we can’t afford any more innovation on Wall Street," says the author of several books on the financial system.
Depending on the rate one uses to discount future obligations, state and local government pension plans face a funding shortfall in the wide range from $1 trillion to $3 trillion.
In the Offering Circular for the CDO at the heart of the SEC lawsuit against Goldman Sachs, the investment bank disclaims any fiduciary responsibility toward other parties in the transaction.
Operating revenue reached a new high and the firm expanded its surplus by $2 billion, to $15 billion.
The new tool gives financial professionals access to a comprehensive library of education plans and materials, the company said.
Almost three out of four affluent baby boomers ages 51-64 are concerned about whether their assets will last throughout their lifetime.
Lifetime income options should be offered by all defined contribution plans, but they shouldn't be mandated elections for all participants, RIIA says.