Details of the bonus plan have yet to be revealed. But Adam Antoniades, CEO of Cetera, said such a plan would be forthcoming in an effort to retain as many advisers as possible.
Private equity-backed networks like Cetera Financial Group have been eager to expand. The latest deal will add 900 Voya advisers with $40 billion in client assets onto the independent broker-dealer's platform.
Survey shows 98% of advisers plan to increase or maintain client allocations to alts in the year ahead; the strategies most likely to see an increase in allocation are real estate, private equity and private credit.
Regulators say the insurance company’s American General Life subsidiary operated in the state without a license, undertaking four large-scale pension risk transfers and bidding on others.
GPB raised $1.8 billion from investors starting in 2013 through sales of private partnerships, but it has not paid investors steady returns, called distributions, since 2018.
Broker-dealers sold just $362.3 million in nontraded BDCs last year, the least since 2010, which was the year after the first product was launched, according to Robert A. Stanger & Co. Inc.
HSAs have no annual use-it-or-lose-it requirements, and balances can be carried forward from year to year and withdrawn tax-free in retirement to pay for medical expenses, such as Medicare and long-term care premiums — but not Medigap premiums.
Health savings accounts, often confused with flexible spending accounts, are prized for their tax leniency. But many things hold them back, including the high-deductible health plans to which they are tethered.
The real fun is just getting started, now that everybody and their mother knows what a short squeeze is.
The Bridgewater Associates founder calls Bitcoin ‘one hell of an invention.’ But he says that he finds it challenging to put a value on digital assets and that cryptocurrencies are probably vulnerable to being hacked.
The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion.
An initial public offering of a stake in Jackson, one of the biggest annuities providers in the U.S., will be held in the first half of 2021, according to a Prudential statement.
Since the GameStop stock options frenzy that quietly began early this month and exploded over the past week, some traders have followed by investing in other shorted stocks, with prices surging far past the returns seen in the indexes that include them.
The AI Powered Equity ETF now has more than 37% of its holdings in tech, up 9 percentage points from Nov. 3, and it has halved its industrial exposure to about 3%.
Fink challenged his fellow CEOs to disclose how their companies will operate in a net-zero world and said positioning for the long term means preparing for the realities of climate change.
Total U.S. annuity sales hit $58.7 billion in the last three months of the year, up 2% from the $57.6 billion during the same timeframe in 2019, according to data published by Limra’s Secure Retirement Institute. But sales were down for the full year.
