Louis S. Harvey is president and CEO of Dalbar, Inc., a Boston-based research firm that performs a variety of evaluations and quality ratings of financial services practices and communications.
Solash, who leads AIG's Individual Retirement business, spoke with us about the company's approach to the annuity market. The NAIC recently reported AIG's overall Life and Retirement businesses as having an industry-leading $18.4 billion in sales.
In retirement, "risk" can turn from an object of pursuit to an object of avoidance. In the second installment of a two-part article, our guest columnist continues his discussion of financial and other risks that retirees and advisors should anticipate.
In the first of a two-article series, the retirement expert, author and editor enumerates and describes the many risks that retirees face. (Spoiler alert: Mortality is not one of them.)
In the world as it is, we are all Japan in the early 1990’s, looking ahead to two or more decades of lost economic growth, observes the economist at U-C Berkeley.
The product, which may be unprecedented, merges the most popular annuity options with the most basic annuity chassis. It’s a little like opting for heated leather seats, turbo and a Pandora radio link in a Hyundai Accent.
“The U.S. bull market is aging,” said Bill Stromberg, T. Rowe Price’s head of equity. “International investments, especially in emerging markets, represent the best long-term value from here in fixed income and equity.”
The risk is assumed by third-party investors and reinsurers, including SCOR, a €32.6 billion reinsurer operating in 31 countries.
The new managed-vol funds include three from American Funds that use the Milliman risk management technique, along with the Federated Managed Tail Risk Fund II and the Goldman Sachs Variable Insurance Trust Global Markets Navigator Fund.
Gary Snisky is charged with telling elderly investors that he would invest their money in government-backed agency bonds. Instead, he used $2.8 million of investor funds to pay his salesmen and to make mortgage payments on his own home, the SEC said.
Chicago's glittering downtown may be stunning, but the Illinois state pension system is underfunded by an estimated $100 billion and the state has the worst credit rating in the nation.