Stock market volatility and a correction are in the cards for 2022, say a majority of Americans in a poll conducted by Allianz Life.
More than three-quarters (77%) expect the stock market to remain volatile this year and 59% expect a correction, the survey found. In addition, 67% say they are worried that new Covid variants will cause another recession, and 74% say they are concerned about their purchasing power over the next six months. Almost two-thirds, 64%, say their income is not keeping up with expenses, and the same amount worry their income will not keep pace with tax increases.
“With added pressure from increased uncertainty, 61% say they are worried their current financial strategy won’t provide the lifestyle they’d like to have in retirement,” Allianz said, noting that one-third of those surveyed said that putting some money into a financial product that provides a guaranteed stream of income in retirement is the most important step in having a secure retirement.
Thirty-nine percent of Gen Xers expressed interest in a product that offers guaranteed income compared with millennials at 33% and boomers at 30%.
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.
New Treasury and IRS proposals would let employers add tax-free payroll contributions to the retirement accounts as advisors weigh the fit for client families.
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
