Fixed indexed annuities remain a niche product, representing only about 10% of annuity sales. But that the niche has grown into an almost $50 billion-a-year business. Sales of FIAs have grown especially fast at independent broker-dealers since 2013.
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.
Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.
This strikes me as the issue at the heart of the controversy over the Department of Labor's conflict-of-interests proposal—the issue we duck and dodge, while pretending that it’s all about “advice.”
As it stands, the “fractured approach" of the Department of Labor conflict-of-interest proposal "will confuse retirement investors, financial institutions, and advisers,” wrote FINRA executive Marcia Asquith in a comment on the DOL/EBSA website.
The suit by Boston's public employees' pension accuses traders at the 22 prominent firms of conspiring via Internet chatrooms and text messages to widen the spreads, or profit margins, on trades of government debt.