The Toronto engineer-turned-advisor has self-published an exhaustive new book and launched a refined version of his Retirement Optimizer software.
Envestnet, with the help of six major annuity issuers, has built a platform where advisors from broker-dealers, banks and RIAs can blend insurance products and investments in the same financial plan. It's a service life insurers can't live without. But will RIAs embrace annuities?
In this last article in our series on fixed indexed annuities, we consider the potential role of FIAs in providing retirees with guaranteed lifetime income. We find FIAs to be valuable, but underused for that purpose.
FIA owners can pick from an array of choices as cryptic as those on a roulette table. But if they don't understand options, how can they evaluate these safe but esoteric insurance products?
"Everything you have read in this book so far guides you in one direction: ignore the popular wisdom and hype. Design your own 'personal' pension for your retirement." So begins Chapter 41 of Jim Otar's book, which is reprinted here.
Both firms are divesting major subsidiaries to pay back billions extended to them by the U.S. and Dutch governments, respectively.
Sun Life was the fifteenth largest seller of variable annuities in the U.S. in the first half of 2009, with $1.4 billion in sales and a 2.3% share of the VA market.
The program uses FundQuest's reporting, portfolio modeling, fund selection, and rebalancing technology.
“The latest downturn shows that asset allocation alone is not enough," said LIMRA CEO Bob Kerzner.
Only 55% of working Britons participate in a company pension “scheme” or plan, a survey by Blackrock and the Chartered Institute of Personnel and Development showed.
Three legislative proposals would allow companies to make interest-only payments for two years on their 2008 losses and then amortize pension shortfalls over the next seven years.
While 74% of employers have a targeted employee participation rate of 80% to 100% percent, only half have achieved that goal.
“The economic crisis was the major impediment to growth in the United States life settlements market in 2008," said Scott Hawkins, analyst at Conning.
Only 25.6% of Hispanics are covered by employer-sponsored retirement plans, compared to 42.5% of whites and 40% of African-Americans.
Does anyone really coast smoothly into retirement? Not guys like my friend Mark, the brilliant engineer. He married at 40, was laid off at 55, and now, at 62, is scrambling to put two kids through elite private colleges. The abnormal is the new norm.