A new firm, Annuity Research & Consulting, has been launched to help 401(k) retirement plans and their record keepers evaluate lifetime income options for the plans. The firm will operate on a fee-only basis.
Employers are becoming more interested in helping their retirement plan participants turn their 401(k) savings into income that will last them throughout their retirement years, and plan providers are beginning to roll out products that incorporate annuities into defined-contribution plans.
But the fiduciaries who typically consult with employers on their plans’ investment lineups may not be comfortable vetting annuities, according to the founders of Annuity Research & Consulting.
One of the founders, Michelle Richter-Gordon, has a background in the insurance industry, including stints at New York Life and Aetna, and currently serves as executive director of the Institutional Retirement Income Council. The other, Mark Chamberlain, has worked at asset management firms including Barclays Global Investors.
The new firm is an RIA and has 3(38) and 3(21) fiduciary capabilities, according to the announcement.
In the statement, Richter-Gordon cited the need to focus on counterparty risk.
“The history of insurers taking risks that were not well understood at the time is sometimes forgotten,” she said in the statement. "Two of the biggest insurance company failures had ‘A’ ratings and top-selling annuity products when they faltered."
President meets with ‘highly overrated globalist’ at the White House.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
