Imperfect Harmony
Hundreds of riled-up advisors and brokers, including Harold Evensky, have responded to the SEC's RFI on "harmonizing" their standards of conduct. Here's some of what they wrote.
Financial Engines’ Secret Income Plan
Financial Engines CEO Jeff Maggioncalda expects his firm to roll out an in-plan income option to DC participants in late 2010 or early 2011. He won't reveal details, but there are clues to his intentions. Photo by Robyn Basso.
Which Are the Hottest VA Brands?
Who do advisors think of first when asked to name a variable annuity provider? The just-published 2010 Advisor Brandscape from Cogent Research reveals that and much more.
The Downside of Upping the Retirement Age
Social Security turns 75 on Saturday, and pressure to raise the claiming age for full benefits is rising. But that would hurt the least well-off most, said experts at the Retirement Research Consortium meeting in Washington last week.
Featured
Why We Need The Fiduciary Standard
It might rid the financial services marketplace of situations where the customer enters into transactions without knowing that there's an adversarial relationship, this well-known columnist believes.
My Tailor, My Fiduciary
The SEC could help investors distinguish between bespoke advice and off-the-rack advice that’s merely “suitable.”
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Quote of the Week
“If we want to study whether a ‘fiduciary duty’ is better for consumers, then we should also study if grass is green, if water is wet, and if deserts are dry.” Luke Dean, professor of finance, William Paterson University, Wayne, NJ.
Record Sales for Indexed, Income Annuities in 2Q: Beacon
The top sellers of fixed annuities were New York Life, Allianz Life, Aviva USA, Western National Life (AIG), and American Equity Investment Life.
All-Star Cast Expected for DoL Hearing on In-Plan Income
The hearing will begin at 9 a.m. (EST) on September 14 and 15, 2010 in the Labor Department’s main auditorium, 200 Constitution Avenue, NW in Washington, D.C.
ING Launches Newest Phase of its ‘Numbers’ Campaign
The ad will air on major broadcast and cable outlets during coverage of professional Grand Slam tennis in the U.S.
The Hartford Aims for Bigger Share of Mid-Sized DB, DC Market
In September, The Hartford is launching a series of forums for advisors that will unveil new research on retirement plan sponsors’ and participants’ evolving needs, and new approaches in meeting them.
Britain’s Annuity Muddle
Surprisingly few retirees use the ‘open market option,’ which allows them to transfer their money at retirement from the asset management company where they accumulated their savings to another provider with a higher annuity rate.
Response to Last Week’s FIA Article
FIA issuers face the "discipline of the market" when resetting their crediting formulas each year, writes David Babbel of the Wharton School.
Behavioral Economics and Retirement Investing
PIMCO and its Allianz affiliates recently sponsored a new study, “Behavioral Finance and the Post-Retirement Crisis.” PIMCO Retirement Product Manager Tom Streiff explains how the study’s findings can foster the development of successful retirement income products.
Found in Translation
Annuity issuers are reaching out to non-English-speaking investors through websites written in Spanish and Asian languages, according to Corporate Insight.
