'Nature wants us to pool longevity risk,' writes annuity expert Moshe Milevsky. He explains why in a new paper, 'Swimming with Sharks: Longevity, Volatility and the Value of Risk Pooling.'
Producers selling indexed annuities with living benefits in the context of the semi-robo retirement income plans: This is emerging model for selling income products to Boomers. It’s not ideal. But it’s where the puck seems to be going.
'The wirehouses’ growth rates have lagged other broker-dealer channels’ over the past one and five years. However, this is for ‘retail’ assets. The opposite is true in the high net worth (HNW) space,' said Donnie Ethier of Cerulli Associates.
The partnership calls for BlackRock, Inc., to acquire a 4.9% equity stake in Envestnet by purchasing about 2.36 million shares of Envestnet common stock for about $122.8 million.
Indexed annuities were once the problem child of the annuity world. Now, having survived the Obama Department of Labor's attempt to corral them, they're more like the darling of the annuity world. Third-quarter YTD sales figures tell the tale.
Contract owner behavior
Income commencement rates on guaranteed lifetime withdrawal benefits with 10-year deferral bonuses are highest in year 1 and in years 11+, with low commencement rates in between, according to a study by Ruark Consulting.
Milliman launches “Account Lock” for participants; Principal appoints new president of Retirement and Income Solutions; Wells Fargo offers retirement planning resources to participants; Two executive appointments at Northwestern Mutual; VisibleThread says banks could gain trust by writing more plainly.