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The 2010 Census revealed that married couples are, for the first time, less than half of U.S. households, according to this article, which appeared recently in the MetLife Mature Market Institute newsletter.
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DoL rules 403(b)(2) and 404(a)(5) are motivating plan sponsors to reevaluate their advisory relationships and, in many cases, send out requests for proposals. Plan advisors tend to either salivate or cringe at the implications.
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The subaccounts offered to those who choose the rider include four Allianz Fund of Funds, five intermediate bond funds, a PIMCO high-yield portfolio, an Allianz cash equivalent fund, and seven “speciality” funds.
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Fixed-income securities on average accounted for 83% of total invested assets. For most life companies, the bulk of their equity market exposure is in non-guaranteed separate accounts tied to variable annuities and pension business.
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“The growing success of the fee-based market and increased use of alternative investments has us broadening the distribution of our specialty product offerings,” said John Carter, president of distribution and sales for Nationwide Financial, in a release.
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The firm reported $1.2 trillion in retail brokerage assets, $199 billion in wealth management client assets, accounts, $295 billion in IRA assets, and $260 billion in institutional retirement plan assets.
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Twenty-nine percent of Republicans ages 55 to 65 said they would probably become more aggressive if Romney wins, while 30% of similar Democrats would become more conservative.
