New Bedfellows: Richard Neal and the 401(k) Industry

As the next Ways & Means chairman, the liberal Massachusetts congressman won't just be the gatekeeper of retirement legislation. He’s also the only legislator who can ask for President Trump’s tax returns. Bills that could release a wave of 401(k) innovation are pending, so the stakes for the retirement industry are high.
Anecdotal Evidence

‘I’m Not Retired. I’m Independent.’

By Kerry Pechter
Unlike, retirement, “independence” has no demeaning or dismissive connotations. Every American yearns for independence. It’s the ideal on which our country was built. When’s your Independence Day?

Hybrid vigor: Many RIAs like support from broker-dealers

By Editorial Staff
'Among advisors who switched to the hybrid model in the past one to five years, only 23% would choose to drop their broker/dealer affiliation and move fully to the independent RIA channel,' said a Cerulli Associates research analyst.
International

Britain’s DB plans roiled by gender equalization

By Editorial Staff
The DB schemes of the UK’s 350 biggest listed companies showed a combined estimated deficit of £36bn (€41bn) on October 31, down from a £3bn aggregate surplus on September 30, according to Mercer Consulting.
Enforcement

SEC fines Citibank $38m for mishandling ADRs

By Editorial Staff
Citibank improperly pre-released ADRs to brokers in thousands of transactions, the SEC found, when neither the broker nor its customers had enough foreign shares. This led to inappropriate short selling and dividend arbitrage.

Honorable Mention

By Editorial Staff
RetireOne platform to offer Great American Index Protector 7 FIA; OneAmerica crosses $2bn mark in retirement plan sales; 401(k) balances reach new high-water marks: Fidelity; Empower offers new platform for IRA clients; Affordable Care Act co-ops lead insurance impairments: A.M. Best.

COVER STORIES YOU MAY HAVE MISSED

November 1, 2018

An Industry Haunted by Its Own History

By Kerry Pechter
The ghost of demutualization haunts much of the annuity industry today. But that topic was not on the agenda of the annual LIMRA conference in New York earlier this week (Photo: Former FBI director James...
October 25, 2018

Which Annuities Pay Out the Most?

By Kerry Pechter
The answer depends on whether your clients want income to start now or in five years or 10 years. Indexed annuities offer the highest minimum income guarantees, if you can wait 10 years for...
October 19, 2018

Will Fee-Only Advisors Warm to Annuities?

By Kerry Pechter
At the National Association of Personal Financial Planners' meeting in Philadelphia this week, Wade Pfau of The American College and David Lau of DPL Financial Planners urged fee-only advisors to mix annuities and investments...