One of the smallest of the robo-advisors (United Income) has some of the biggest backers (Morningstar's chairman and eBay's founder) and a veteran (HelloWallet) CEO. RIJ asked United Income to create an income plan for the M.T. Knestors. Here's the plan that UI cooked up.
After five years of pitching their idea for automatically moving assets from one 401(k) plan to the next when a worker changes jobs, Retirement Clearinghouse this week received the Department of Labor ruling that the project required.
Since the first wave of the program launched in November 2017, tens of thousands of workers have saved more than $9 million towards retirement, according to an OregonSaves release this week.
Indexed annuity sales increased by more than 2% in the third quarter of 2018, relative to the second quarter, but rose by 38% over the same period last year, Wink reported.
So far in November, three variable annuity sellers, including Commonwealth Financial, have filed federal class action lawsuits against Ohio National Life, which this fall left the annuity business and cancelled further payment of agent trail commissions on still-active VA contracts.
Plan contributions above the auto-enrollment minimum (currently 8% of salary) will overflow into the sidecar savings account until the sidecar balance reaches £1,000. Subsequent contributions go to the retirement fund.
The latest issue of The Cerulli Edge-U.S. Retail Investor Edition details the efforts of 10 of the leading digital-focused financial advice platforms in establishing brand awareness among retail investors.