Jon Stein, CEO of Betterment, the biggest of the 'robo-advisors,' talked with RIJ recently at Betterment headquarters--three converted lofts in an historic building just west of the Flatiron Building in New York City.
'While mimicking the high payouts of an actuarially fair variable life annuity, TSAs would cost significantly less than commercial life annuities,' write Forman and Fullmer.
'We have all these insurance agents selling billions of dollars of fixed indexed annuities. But they have few clues about how the crediting rates have performed,'' says Kent Jacquay. With his Indexalyzer software, he proposes a solution.
Achaean Financial and Ash Brokerage, a large Fort Wayne, Ind., BGA, are partnering on a potential retirement game-changer: Achaean's immediate indexed income annuity, couched in Ash's JourneyGuide planning software. The underwriter has yet to be named.
'It is possible that we could have seen outflows from U.S. equity funds in December were it not for the year-end rebalancing trend," said Alina Lamy, author of the latest Morningstar Direct Asset Flows Report.
'I thought that, if given the right software, the retirement industry would use it to address the non-investment needs of the mass market. I was wrong,' writes our guest columnist, the president of RetirementWorks, Inc., of Harvard, Mass.
The marketplace will offer three options: a SIMPLE IRA, a payroll deduction IRA and a MyRA. Firms participating in the marketplace will have to offer at least two investment options, including a target date fund, or similar fund, and a balanced fund.