African Americans in general have fewer assets, less faith in Wall Street and less appetite for risk than whites, but their need for financial guidance is arguably that much greater.
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.'
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.
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.
"It’s not as if African Americans were a different species. They are over-represented among lower income populations, but that’s where their distinctiveness stops,” said Wilhelmina A. Leigh, Ph.D., of the Joint Center for Political and Economic Studies.
Antoine Orr, president of Plancorr Wealth Management LLC in Greenbelt, Maryland, tells his clients to pay down debt and invest only what they can afford to lose. "African American wealth is more abundant than people think," he says.
The global clearing-and-execution firm and BNY Mellon unit has set up a website, Retirement PowerPlay, to help advisors "grow their retirement businesses” and has published a call-to-arms entitled, "The Secret Knock."
Investors under age 45 are keeping more than 40% of their money in cash or cash equivalents, according to a new survey by Northstar Research Partners and Sullivan, a communications strategy and design firm.
You can save more than $10,000 a year by sharing a room with someone else, according to the 2011 Cost of Care survey by John Hancock Financial.
The AXIS Retirement Plan Analytic Platform is designed to service all retirement plan types through a single web-based interface and data repository, according to the manufacturer, Castle Rock Innovations.
The product offers point-to-point and monthly average interest crediting methods, and five account options: S&P 500 Point-to-Point, S&P 500 Monthly Average, S&P GSCI Point-to-Point, S&P GSCI Monthly Average and Fixed Account.