For years, wealth managers have paid little attention to longevity risk or annuities. But times are changing, and even wirehouses like UBS are at least talking the longevity talk.
Originally a platform for distributing structured notes to broker-dealers, SIMON is adding index-linked annuities to its product suite. Prudential is both an investor and, as of today, a product provider.
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
“This is not necessarily a bad business to be bidding on, but it’s inherently risky, especially with the low rate environment," said Rob Haines of CreditSights.
As Bulls celebrate Janet Yellen's latest walk down "easy" street, technical analysts tell RIJ that, according to their charts, Wall Street is headed for hard times.
In this post from Fiduciary Matters Blog, ERISA attorney Thomas E. Clark, Jr., writes that "this will not be the last settlement and I would imagine we could even see a higher settlement amount."
The president spoke at the offices of AARP in Washington Monday, praising the re-proposal of the Labor Dept. rule holding retirement advisors to a "fiduciary" standard of conduct. The re-proposal was sent to the Office of Management and Budget for review this week.