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.
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.'
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.
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.
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.
Of the eight new articles, the one called “Strategies for Managing Retirement Risks” might be the most relevant for financial planners and advisors.
'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.
A.M. Best views the industry as having adequate risk-adjusted capitalization, which is supported by the continued overall profitability.
Brief or late-breaking items from MassMutual, Fidelity, New York Life, Raymond James, Allianz Life and Millennium Trust.
“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.”