Putnam, A Work in Progress
With the announcement of a retirement research center, Putnam Investments joins the "thought-leadership" game. It's all part of CEO Bob Reynolds' campaign to rebuild a tarnished brand--and to change the way America saves.
What’s Your Competition Doing? E&Y Knows
Launched five years ago, Ernst & Young's Retirement Income Knowledge Bank has become a useful map of the competitive landscape for insurers and broker-dealers.
At SPARK conference, a Plug for In-Plan Annuities
In touting his firm's LifePath TDF-based deferred income option, Chip Castille of BlackRock emphasized that insurers should position in-plan annuities as retirement income enhancers rather than longevity risk mitigators. (I.e., appeal to greed, not fear.)
At Your Service: Courting the Affluent Tennis Fan
Prudential Financial, Raymond James, ING, Fidelity Investments and E*Trade all advertised during the French Open final between Rafael Nadal (above) and Roger Federer on NBC TV last Sunday--all vying for the "elite demographic" that follows tennis.
Featured
Eleven Million Millionaires Worldwide
About 40,000 Americans have investable assets of $30 million or more, according to the 15th annual World Wealth Report from Merrill Lynch and Capgemini.
News
SEC “starved of resources”: New Yorker
"The market has become more of an exclusive gambling club for the very rich than a level playing field open to the ordinary investor," wrote journalist George Packer.
Mind the [Retirement] Gap
Of those who expect to need 75%-100% of their pre-retirement salary in retirement, less than a third had enough savings to generate this income, according to J. P. Morgan's .
DALBAR announces fiduciary designation for 401(k) advisors
The 401(k) RFTM Designation is awarded to designees who after training and testing prove to be fluent in the language and regulations of ERISA.
“New normal” mindset pervades Boomers: Allianz Life
When asked which is more attractive, an investment paying a 4% guaranteed return or one with 8% return subject to market risk and loss of principal, 76% chose the guaranteed product.
Mercer in deal with Financial Engines, HelloWallet and TD Ameritrade
The three new services will be added to Mercer's benefits administration platform.
Things Heard and Overheard
Here's a follow-up on our earlier report on the recent SPARK conference, with more news and comment about DoL enforcement strategy, the threat to the tax deferral for savings, and what might happen when participants see how much their plans cost.
