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.

The Index Annuity Story, Part I

'Zero is the hero' in fixed index annuities, which offer upside without risk of loss. In this first article of a four-part series on FIAs, presented by Retirement Income Journal and Wink, Inc., RIJ analyzes Wink's first-quarter 2019 sales data to establish an overview of the fast-growing index annuity industry.
Anecdotal Evidence

Is the SECURE Act Too Weak to Make a Difference?

Yes, there's a new 'safe harbor' for selecting an annuity provider for a 401(k) plan in legislation that appears headed for the president's signature. But there's no sign that many employers or employees want in-plan annuities, and the bill gives them no special reason to.
Anecdotal Evidence

‘An Economist Walks Into a Brothel’

The legalized version of the world's oldest profession offers a test-case of risk and reward in Allison Schrager's new book, subtitled, 'And Other Unexpected Places to Understand Risk.' Our guest columnist, a former editor of the Journal of Retirement, offers a review.
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Anecdotal Evidence

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.
Anecdotal Evidence

My Tailor, My Fiduciary

The SEC could help investors distinguish between bespoke advice and off-the-rack advice that’s merely “suitable.”
News
Anecdotal Evidence

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.
Anecdotal Evidence

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.
Anecdotal Evidence

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.
Anecdotal Evidence

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.
Anecdotal Evidence

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.