J.P. Morgan Asset Management is adding a tool to its SmartRetirement target-date series that will support plan participants’ efforts to turn their savings into income during their retirement, the firm announced Monday.
When participants in SmartRetirement funds retire, they can withdraw a portion of their money each year until a target maturity that is 35 years after their retirement. The fund will suggest an annual withdrawal amount that would allow them to continue withdrawing over that time period.
The retirement spending tool, which includes an interactive calculator that helps retirees look at spending tradeoffs, is based on JPMorgan Chase’s spending data, which covers almost half of U.S. households.
Last year, J.P. Morgan launched what it called SmartRetirement Plus, which lets plan participants to funnel retirement savings from one of the firm’s target-date funds into an annuity from AIG.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
