Where the Wealth Is

Do you build and wholesale financial products? Cerulli reports that the giant wirehouse channel shrank slightly last year, to the benefit of the fast-growing RIA and dually-registered advisor channels.

What’s Cooking at ‘Income Lab’?

At their software start-up, Income Lab, three former Jackson National Life executives want to help advisers help clients optimize retirement income. They enter a financial planning field dominated by MoneyGuidePro and eMoney Advisor.

Security Benefit Life’s Secret Sauce

Joe Wittrock, CIO at Security Benefit Life, explains how the firm's investments outperform. Eldridge Industries, run by ex-Guggenheim president Todd Boehly, owns SBL, Billboard magazine (right, with Billie Eilish on the cover) and lots else.

Research Roundup

Here's new research on tax avoidance among the very rich, the logic that millionaires use when buying equities, considerations for plan sponsors when estimating income from 401(k) balances, and a worst-case scenario for future tax rates.
Featured

Distribution of Wealth in the U.S.

This video, which has been viewed over four million times on YouTube, shows how the explosive growth of stock market wealth over the past 30 years has changed U.S. financial demographics to a degree that most Americans don't yet grasp.

When the Empire Didn’t Strike Back

Conservative reviewer Hutchinson praises Benn Steil's new book on the 1944 Bretton Woods negotiations, which documents how Britain lost its economic crown jewels at the historic conference in New Hampshire.
News

DC fee disclosure has little impact: LIMRA

“The disclosure notices — or the discussion of them — did seem to improve the knowledge of those who believed they didn’t pay any fees or expenses,” said Alison Salka, corporate vice president and director of LIMRA Retirement Research.

Financial tremors shake Poland’s retirement pillars

To help reduce a general budget deficit, the government has had to divert contributions away from the second pillar, a defined contribution plan whose Polish acronym is OFE, to the Pay-As-You-Go first pillar, whose Polish acronym is ZUS.

Western & Southern introduces ‘SmartStep’ fixed annuity

SmartStep offers four years of guaranteed rates: an initial rate set by the company followed by three years of stepped-up rates. At the end of the guarantee period, the contract is credited with an annual renewal rate set by the company.