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."
Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B
“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.
The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO
For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.
Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions
Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
