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.
Income Strategies

Two Client-Centric Income Strategies

We compare two easy-as-pie annuity strategies: Income starting at age 80 versus guaranteed income for the first 10 years of retirement. One hedges longevity risk, the other hedges sequence risk, and neither ties up more than 25% of savings.
Income Strategies

Money Myths, Legal Realities

At a conference at Harvard Law School called "Money as a Democratic Medium," law professors debated the origins, purposes, and rightful ownership of money in the modern era. (Photo: Bil Lewis portraying President James Madison, at the conference.)
Anecdotal Evidence

BlackRock, Microsoft & Retirement: What’s Up?

BlackRock and Microsoft's cryptic announcement of a new partnership on a platform for plan participants has puzzled industry executives, who shared their views 'on background' with RIJ. (Pictured: A rendering of the future neighborhood of BlackRock's new headquarters in New York.)
Featured
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.