Even when interest rates are low, adding a lifetime income annuity to a fund portfolio 1) reduces the risk of portfolio ruin, 2) increases current income, and, 3) if the portfolio is shifted toward equities, can enhance the client's legacy.
Private equity firms have steadily acquired U.S. life insurers and blocks of fixed annuity business and moved the blocks offshore to free up capital. This worries some people.
Micruity, a tech startup with a 30-year-old CEO, says it has the "middleware" that can integrate 401(k) plans and annuity issuers. Will the retirement industry listen?
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
The DOL wants the investing experience of IRA rollover owners to look and feel like the experience that IRA rollover owners knew when they were participants—an online, low-cost, education-oriented, no-hard-sell, group experience.
'The solution... is to fix the problem of deficient demand not by attempting to further loosen monetary conditions, but by boosting public spending,' says our guest columnist, an economist and author of many books on the global economy.
We are 'making changes to our platform and capabilities that we believe will help advisors grow their practices and support more investors in need of financial advice," said LPL's president in a release.
“There will be unexpected changes to the retirement and wealth management industries, and, to a degree, this cultural evolution is what the proposed rule is hoping to effect,” a Cerulli release said.
Weighted by assets, average equity fund expense ratios fell for sixth consecutive year in 2015, by two basis points to 68 basis points, according to the Investment Company Institute.