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September 7, 2010
Connecticut insurance commissioner Thomas R. Sullivan will look into whether The Hartford participated in “misleading practices” in its marketing of a new variable annuity, the commissioner's office announced today.
September 5, 2010
Broker-dealers and financial advisers are taking action against The Hartford Financial Services Group Inc. in response to a letter the firm sent to their clients that entices them to swap their variable annuities for a replacement — one that advisers say actually strips away generous guarantees.
September 5, 2010
New York Life Insurance Co. was the top seller of fixed annuities during the second quarter, with $1.74 billion in sales, according to Beacon Re-search Publications Inc.
September 3, 2010
B-Ds, advisers let loose on the insurer about its attempt to entice clients to switch from one variable annuity to another. The chief complaints: the timing of the letter to clients and the features of the new VA.
Readers clash over the controversy
September 1, 2010
Financial advisers are fuming over a letter The Hartford sent to clients which entices them to swap their variable annuities for a replacement. Why so angry? Advisers say the new VA actually strips away generous guarantees.
August 30, 2010
New York Life Insurance Co. was the top seller of fixed annuities during the second quarter, with $1.74 billion, according to Beacon Research Publication Inc.
August 29, 2010
Target date funds run by MFS Investment Management, Putnam Investments and other big mutual fund companies exhibit higher-than-average turnover, raising concerns over whether investors, or their advisers, are aware of the funds' composition.
August 29, 2010
For the forseeable future there will be no easy way to build a retirement nest egg, meaning investment advisers and their clients will have to work harder and use a wider range of tools to accomplish the task.
August 29, 2010
In a bid to grab a bigger slice of the highly competitive retirement plan market, John Hancock last week became the first provider to offer 401(k) participants a choice between target date funds that are constructed to take investors “to retirement” or “through retirement.”
August 29, 2010
Of the many changes anticipated from health care reform, one comes to the fore for America's affluent: Increased taxes may make it harder to retire
August 29, 2010
The Roth recharacterization provides one of the few second chances in the tax code. In essence, it's a do-over.
August 29, 2010
Investment advisers' confidence in the financial health of the insurance industry — though still underwhelming — is on the rebound, according to the InvestmentNews 2010 Insurance Product Survey.
August 22, 2010
Prudential Financial Inc. has taken the crown from MetLife Inc. as the biggest seller of overall individual annuities and variable annuities in the United States for the first half of this year, according to data released last week by LIMRA. The insurer sold $10.9 billion in overall ...
August 22, 2010
Bank of America's Merrill Lynch Wealth Management group was relaunched last fall as a more touchy-feely brokerage. Think cow, not bull. They wanted to get to know their customers better and to listen more to their complex concerns, values and priorities. So Merrill surveyed 1,000...
August 20, 2010
In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter.
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