Not Warren Mosler, bond trader, racecar dabbler, Senatorial candidate and recent author of “The Seven Deadly Innocent Frauds.”
'Many of the decisions presented here are beyond the skills of most pre-retirees and retirees,' writes the author, a research scholar at the Stanford Center on Longevity. 'They’re going to need help.'
Bond mavens, check this out. A new SEC report describes how most of the $54-trillion dollar U.S. credit market survived last spring's financial crisis. It covers securitized 'leveraged loans,' which provide high-octane fuel for fixed indexed annuity issuers.
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance Services, LLC.
DST Systems’ Larry Kiefer says his firm’s new “middleware” simplifies the distribution of lifetime income products to plan participants, IRA owners and others.
Under the conservative think-tank's proposal, a new optional, auto-enrolled savings plan would start in 2014. Under this plan, 6% of each worker’s income would go in a retirement savings plan that the worker owns and controls.
In their attacks on retirement savings incentives, 'budget hawks' don't appear to realize that 401(k) participants and others pay the deferred taxes after they retire, albeit sometimes at a lower tax rate.
Chris Brown and Laura Varas (left) of Hearts & Wallets, a Boston-area research firm, find that many pre-retirees and retirees want financial advice that's not simply the prelude to a product sale.
Smaller defined benefit pension plans are adopting a liability-driven investment model that resembles the three-bucket system used by retirees to provide income. New York Life has designed a fixed income option for the first bucket.
People need financial help, but avoid financial services providers. Is it possible that they blame the industry itself for their financial woes?
Called Structured Capital Strategies ADV, the product will be distributed at first to fee-based advisors in the Commonwealth Financial Network.
The SPARK Institute's Data Layouts for Retirement Income Solutions provides the standards for DST Systems' RICC hub featured in today's issue of RIJ.