Flagging consumer confidence comes as inflation spiked, with prices rising 1% in the past month.
There is value to annuitization through a single premium immediate annuity, said insurance industry experts.
They now face up to 230 years each in prison and fines of up to $46 million, according to the Department of Justice.
It's early in the game, but independent advisers appear to be winning the competition to lure retirement assets, according to the management consulting firm McKinsey & Co.
The Financial Industry Regulatory Authority Inc. is drawing the ire of some brokerage firms by partnering with the AARP — a group that some in the industry see as a competitor.
Regulators and participants are strengthening market discipline but oversight is still needed, the report says.
Managed accounts aren't popular default options in 401(k) plans, because fees are too high for plan executives to justify, leaving them concerned about fulfilling their fiduciary responsibility, experts say.
The gross domestic product will rise by just 2.9% in 2008, according to economists polled by NABE.
Legislation is moving forward in the Senate that would allow financial services companies to keep their industrial banks.
Last week's U.S. Supreme Court decision to allow individual participants to sue 401(k) plan administrators will put further pressure on financial advisers to ensure that they are adhering to their fiduciary status, industry observers say.
