Two Advisers, Two Strong Opinions of FIAs

If annuities in general incite controversy, FIAs are easily the most polarizing annuities. Just listen to what Howard Kaplan, an LPL adviser in the New York area, and Harry Keller, a Philadelphia-area adviser affiliated with ING Financial Partners, have to say.

Annuities and the Charles Schwab Deal

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.

Marshmallows and Social Security

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.
Featured

In Hartford, a Public IRA Proposal

RIJ traveled to Hartford on Tuesday for a hearing on a bill that would require most Connecticut employers to offer a retirement plan and would create a default public retirement plan option. Brian Graff of ASPPA and Chad Parks of theonline401k were there too.

Beware of Oligopolies in Banking

"I suspect that 2014 will prove to be a critical juncture for determining the future of the banking industry and the role of regulators within that industry," said the vice chairman of the FDIC in this speech, delivered on February 24 to a business group in Arlington, Va.
News

Schlichter sues a hospital chain for “excessive” plan fees

The latest ERISA suit from St. Louis plaintiffs attorney Jerry Schlichter (pictured) claims that Novant Health Inc. violated its fiduciary duty by paying excessive fees to Great-West Life & Annuity and to a Winston-Salem, NC, brokerage firm.

The Bucket

Brief or late-breaking items from Vanguard, Prudential Financial, Nationwide Financial, LPL, Fidelity, Franklin Templeton, the American Bar Association and AARP.