Advisors who use LPL Financial’s new Fee-Based Variable Annuity platform can manage VA subaccounts just like mutual funds. (Photo at LPL’s San Diego office.)
GuidedChoice is the latest 401(k) advice provider to announce a platform that helps participants turn their savings into income—with or without a rollover to an IRA. (Above: CEO Sherrie Grabot.)
The revelation of a novel share class of variable annuities--its working title is "O" shares--was perhaps the most interesting piece of news that emerged from the IRI Marketing conference in Washington, D.C., last week.
Income+, a process-driven, product-neutral income program for 401(k) managed account clients, could alter the competitive landscape of the retirement industry.
A study by MIT's James Poterba (left) and others shows that current retirees tend to hoard 401(k) and traditional IRA assets, along with home equity, against possible future emergencies.
Under certain conditions, the rider can offer a step-up and a roll-up during the first 10 years, providing "growth on growth" potential.
A similar strategy backfired in 2003, when the state tried to fund its pension by borrowing $10 billion at 5.1%. It earned 3% on the proceeds, instead of the promised 8%.
The stock market rally drove a double-digit rise in VA sales in the fourth quarter of 2010. Index annuities had another record year, but other fixed annuities suffered.
Eager to use their time more effectively, advisors want more functionality from their technology platforms.
Putnam Investments launched four Absolute Return Funds in January 2009 that aimed to match the returns of short-term securities, bonds, balanced funds and stocks, respectively, but with less risk.
The Australian government should try to deal with longevity risk by developing a “new generation variable annuities market,” according to the Institute of Actuaries of Australia.
Late-breaking items from Principal Funds and MassMutual.