“The vast majority of 401(k) funds are at risk of lawsuits over excessive fees,” said James Holland, director of business development at Millennium Investment and Retirement Advisors, a fiduciary consultancy in Charlotte, NC.
'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.
The respected Yale economist argues that temporarily higher taxes and higher spending is a better path to recovery than permanently lower taxes and lower spending.
We all think we know right from wrong. But in the ERISA world, it’s not always so easy tell the difference. Listen to these war stories and decide for yourself.
A new survey shows yet again that most Americans don't save much. Given the trillions that currently sit in 401(k) plans and IRA accounts, this suggests that a minority of Americans must be saving a lot.
Two new publications from Cerulli Associates point out, respectively, that advisors and IRA providers should target the lump-sum distributions of former DB plan participants and that the direct channel is taking business away from advisors.
LIMRA has published its quarterly list of top annuity sellers in the U.S. For all of 2012, Jackson National Life was the largest overall seller of annuities, with $20.4 billion, including $19.7 billion in variable annuity sales. Prudential sold the most VAs, at $19.97 billion.
The private bank channel and the RIA channel combined manage over $500 billion in ETFs, according to a new report from Strategic Insight.
Brief or late breaking items from MassMutual, New York Life, The Hartford, Retirement Clearinghouse LLC, National Planning Holdings and Protective Life.