Internet start-up Personal Capital is out to prove that mutual funds and face-to-face financial advice are obsolete. (At center, CEO Bill Harris, with Jim Del Favero, VP, product management (seated) and Ehsan Lavassani, engineering director.
'Many of the decisions presented here are beyond the skills of most pre-retirees and retirees,' writes the author, a research scholar at the Stanford Center on Longevity. 'They’re going to need help.'
Bond mavens, check this out. A new SEC report describes how most of the $54-trillion dollar U.S. credit market survived last spring's financial crisis. It covers securitized 'leveraged loans,' which provide high-octane fuel for fixed indexed annuity issuers.
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance Services, LLC.
Investors have been asking Moody's if variable annuity issuers have made their products safer, and how Moody's evaluates the safety of VA guarantees. For answers, Moody's turned to the issuers themselves.
"Ten years of well-behaved markets can have less impact on the ultimate success or failure of a portfolio than a couple of outlier months of extreme returns," says Russell Investments in a new report on dynamic asset allocation.
The SEC enforcement staff sent S&P a Wells notice, which gives companies the chance to make the case why charges are unwarranted.
Joan Driscoll, a 24-year industry veteran with 18 years of experience at New York Life, has been promoted to lead the new effort as managing director of client strategy.
Investors are using technology for pre-work before contacting a financial professional, to check up on their advisor and to monitor their advisor’s account management, the consulting firm has found.
'Last year, DFA and BlackRock were the only Stars in our mutual fund company commitment ranking,' said Cogent principal John Meunier. 'This year, a total of four firms made it into the top tier.'
Brief or late-breaking items from DST, New York Life, CEIBA, and Putnam.
Proponents of 401(k) reform met defenders of the status quo in a Senate Finance Committee hearing on Sept. 15. The reforms have some justification, but they could hurt the very people who decide whether to sponsor a plan or not.