Eight years after collapsing under the weight of CDS losses and four years after emerging from federal ownership, AIG is again atop the annuity sales charts, with $9.78 billion sold in the first half of 2016. (Pictured: AIG CEO Peter Hancock).
The universities' retirement plans were the latest to be sued by the law firm of Jerome Schlichter (pictured at his office in St. Louis) for violations of fiduciary duty. The suits charge that the schools should have bargained for lower fund expenses and administrative fees.
Last month, we reported on John Walton's "tilt" method of fine-tuning systematic withdrawals in retirement. New research by the Texas hydrologist-turned-retirement income specialist combines tilting and income annuities.
Although Schwab and Vanguard have a head start in this space, “I don’t think Fidelity has lost anything by waiting,” William Boland, an analyst with Aite Group, told RIJ.
Distributors are likely to apply the standards of the DOL fiduciary (or "conflict of interest") rule to all client money, not just qualified assets, said Dennis Bowden (pictured), lead author of a new Strategic Insights report for asset managers.
“Cost definitely plays an important part , but it’s not the only reason,” Morningstar’s Alina Lamy (pictured) told RIJ. “A lot of it has to do with quality and transparency, as well—building a reputation and living up to it.
More than four in ten advisors (43%) said they may plan to expand services offered to more holistic planning and 26% may plan to focus on non-qualified accounts, according to a new Nationwide survey.
Retirement Income Journal will not appear on August 25 or September 1. The editorial staff is taking its annual vacation. We'll return with the September 8, 2016 issue. Thank you to all of our subscribers and advertisers for supporting our mission.
A new KPMG report attributed the drop to “a tougher climate for marketplace lenders and a drop in mega-round activity.”