With ‘Fidelity Go,’ Fido Goes Robo
Although Schwab and Vanguard have a head start in this space, “I don’t think Fidelity has lost anything by waiting,” William Boland, an analyst with Aite Group, told RIJ.
Off the Grid
As the DOL rule changes the role of the employee-advisor, the mode of compensating and incentivizing advisors may need to evolve. And that may spell changes in the almighty “grid.”
Great Hopes Ride on Great-West’s New Annuity
Great-West Financial's new Smart Track II variable annuity contract has four different income riders. Will it help Bob Reynolds achieve his goal of making Great-West a top-five retirement company in three to five years?
Surrender to Lapse Risk? Not These Insurers
Over-estimates of variable annuity lapse rates have cost life insurers billions. A group of VA issuers is now working with actuaries at Ruark Consulting to predict those rates more accurately.
Featured
The ‘Save Our Social Security Act of 2016’: A Major Step Toward Reform
These changes in the proposed bi-partisan proposal would bring the Social Security system close to long-term solvency, writes this Urban Institute economist and former Deputy Assistant Secretary of the Treasury.
Summer Issue of the Journal of Retirement Appears
Of the eight new articles, the one called “Strategies for Managing Retirement Risks” might be the most relevant for financial planners and advisors.
News
Most plan providers expect DOL rule to help asset retention: LIMRA
'Nearly three quarters of plan providers anticipate their call center staff will need training to be able to distinguish education from advice,' said Matthew Drinkwater, Ph.D., assistant vice president, LIMRA Secure Retirement Institute.
Net income of life/annuity industry down 73% in 1Q2016: A.M. Best
A.M. Best views the industry as having adequate risk-adjusted capitalization, which is supported by the continued overall profitability.
Honorable Mention
Brief or late-breaking items from MassMutual, Fidelity, New York Life, Raymond James, Allianz Life and Millennium Trust.
Quote of the Week
“In choosing between various political parties and programs for the commonwealth’s social and economic organization most people are uninformed and groping in the dark. The average voter lacks the insight to distinguish between policies suitable to attain the ends he is aiming at and those unsuitable.” – Ludwig von Mises, “Profit and Loss.”
