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."
The giant broker dealer and RIA overseeing roughly $800 billion in AUM and AUA has appointed a Merrill and BofA alum to support advisor growth.
Firm's CEO is confident SEC can approve without legislation.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC's Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry."
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.
