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.)
Private equity firms have steadily acquired U.S. life insurers and blocks of fixed annuity business and moved the blocks offshore to free up capital. This worries some people.
Micruity, a tech startup with a 30-year-old CEO, says it has the "middleware" that can integrate 401(k) plans and annuity issuers. Will the retirement industry listen?
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
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.