"Liability-driven investing for individuals" is how J. Brent Burns, MBA, (left), and Stephen J. Huxley, Ph.D., describe Asset Dedication, which is the name of their bond-laddering methodology, their book and their company.
'Many of the decisions presented here are beyond the skills of most pre-retirees and retirees,' writes the author, a research scholar at the Stanford Center on Longevity. 'They’re going to need help.'
Bond mavens, check this out. A new SEC report describes how most of the $54-trillion dollar U.S. credit market survived last spring's financial crisis. It covers securitized 'leveraged loans,' which provide high-octane fuel for fixed indexed annuity issuers.
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance Services, LLC.
This fly-fisherman, financial advisor and former insurance company executive surveys the retirement income product landscape from his lake house in central Maine.
There is no actuarial roadmap through what could be a completely restructured health insurance marketplace. "It's terra incognita," says this consultant and author.
The Federal Reserve "is the financial fire department... to which financial institutions and markets naturally turn in time of crisis," say the leaders of MetLife, Goldman Sachs and other large financial services companies.
The bill consolidates several existing federal agencies into a single Consumer Financial Protection Agency that would set rules on credit cards, mortgages and loans.
About 80% of wirehouse assets, or $3 trillion, is managed by advisor teams that manage over $200 million each, Cerulli Associates reported.
Expected returns for both domestic and international large-cap stocks were lowered to 7.5% a year for the S&P 500 and to 7.75% for MSCI EAFE.
The 30 members of the firm's management committee will receive all of their discretionary compensation in shares whose sales are restricted for five years.
Less than a quarter (24%) of 300 companies surveyed by Hewitt Associates are offering holiday bonuses this year, down from 42% in 2008.
Gary F. Baker, vice president in the retirement income business division of Massachusetts Mutual Life Insurance Co., has left the company.