Nationwide Insurance and Capital Group have created a target-date fund series that incorporates a fixed-indexed annuity with a guaranteed lifetime withdrawal benefit.
The funds, known as the NCIT American Funds Lifetime Income Builder Target Date Series, will be available as an investment option in defined-contribution plans.
The annuity portion of the product was invented by Annexus Retirement Solutions, Nationwide said in a release.
“The TDF Series is financially engineered to deliver a total income of 6% at the projected retirement start date,” Nationwide said.
The TDF series is structured as a collective investment trust. It is set to launch later this fall.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
