Mark Fortier, Prudential's Srinivas Reddy, ERISA lawyer Fred Reish, Steve Shepherd of Aon EnnisKnupp and Jody Strakosch shared their views with RIJ about recent statements by Treasury official Mark Iwry (above) on in-plan annuities in target date funds.
Two robo-advisors, Betterment.com and SigFig.com, have retirement income generating functionalities. But are they robust enough to put an advisor with retirement income training out of work? Read and judge for yourself.
Here's an income plan for a hypothetical 65-year-old couple with $1.6 million in savings, a real income goal of $8,000/mo. in retirement, and a legacy goal of $1.5 million.
CUNA Mutual Group invades Allianz Life airspace by launching 'Zone Income Annuity.' It's the only structured index annuity besides Allianz Life's Index Advantage Income to offer a lifetime income option. The two contracts differ in small but significant ways.
The president of Prudential Annuities since 2017, actuary Kent Sluyter spoke with RIJ recently about financial wellness and about his firm's pivot to a new generation of individual annuities.
"It comes down to this: ‘How much personalized service am I willing to give up to save 75 basis points a year?” said Jack Waymire about the robo-advisors. He runs a client-advisor matchmaking service at iwd.paladinregistry.com.
“ will take a while to get going,” said Stan Haithcock, of Stantheannuityman.com, “but once people realize that it lets them reduce their RMDs, and that it will be good for their spouses, I think they will flock to it.”
The SEC has just approved a request to list and trade exchange-traded managed funds on NASDAQ, and has issued a notice of intent to grant exemptive relief to permit offering of exchange-traded managed funds.