In an effort to meet the needs of 401(k) plan participants who would like regular monthly income in retirement, J.P. Morgan Asset Management will launch what it calls SmartRetirement Plus. The solution will pair the firm’s retirement investment funds and the intelligence it has gathered on retiree spending with AIG Life & Retirement’s IncomEdge Control annuity.
The asset manager plans to expand the annuities offered by third-party insurers through its new tool in the future, it said in a release. A firm launch date wasn’t announced.
SmartRetirement Plus will provide ways to direct retirement savings from J.P. Morgan Asset Management’s target-date funds into an annuity from AIG, along with options to help participants determine when to begin receiving the income. Participants will have the flexibility to make allocation decisions to account for their unique spending needs, while maintaining access to their money, J.P. Morgan said.
Recent plan participant research conducted by the firm found that 85% of participants would likely leave their balances in their plans post-retirement if there was an option to help generate monthly retirement income.
Firms announce recruits in Pennsylvania and Ohio as advisors head for new opportunities.
The first instinct of a surviving spouse is often to act fast. The advisor's job is to pump the brakes and hold the course
Utah RIA with $3.3B in AUM teams with WPCG and HGGC's Aspire Holdings platform in deal expected to close this month.
They say the offering hid two facts before the stock cratered nearly 70%.
Trustees maintain 2034 insolvency projection, but new research shows benefit cuts could cost many retirees more than $137,000 out of pocket.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
