Is (or Isn’t) Time Running Out for the Fiduciary Rule?

Three benefits attorneys told RIJ this week that the DOL's fiduciary rule became effective last June, and that it may be hard to stop the rule--or even delay the April 10 applicability date--without another lengthy review and public comment process.

Research Roundup

We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'

An Annuity’s ‘Moneyness’? There’s an App for That

How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.

A Chip Off the Old Rock?

Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
Featured

Federal Judge Upholds Obama Fiduciary Rule

Ignoring a Trump administration request to delay her ruling, Chief Judge Barbara Lynn of the Northern District of Texas, Dallas Division, rejected industry arguments that the Obama Department of Labor had exceeded its authority.
News

Is (or Isn’t) Time Running Out for the Fiduciary Rule?

Three benefits attorneys told RIJ this week that the DOL's fiduciary rule became effective last June, and that it may be hard to stop the rule--or even delay the April 10 applicability date--without another lengthy review and public comment process.

Who buys income annuities, and why most people don’t: EBRI

“Those with inadequate assets might value a regular stream of income very highly and those with the most might expect to live longer and can also afford it even after leaving a bequest,” the Employee Benefit Research Institute said in a release this week.

Merrill Lynch launches hybrid digital-human advice platform

Through the new platform, investors at any asset level can access strategies “built and managed by the Global Wealth & Investment Management (GWIM) Chief Investment Office, not by algorithms," a Merrill Edge release said.

Honorable Mention

Brief or late-breaking items from LifeYield, Northwestern Mutual and Envestnet | Retirement Solutions, Lincoln Financial, AICPA, and Mercer.