Results for "annuities"

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Have variable annuities sales hit rock bottom?

March 31, 2018

Sales of variable annuities are in the tank. Product sales have slid for the past six consecutive years, and 2017 sales (roughly $96 billion) were the lowest in two decades.​ Will variable annuities recover from the slump, or has their heyday...

Are annuities finally getting some respect?

March 31, 2018

For years, financial advisers have had a love-hate relationship with annuities. The financial products, which offer a guaranteed stream of income, have long been maligned by some financial advisers and the broader public as being costly, confusing...

Retirement-savings bill draws broad support, optimism for passage this year

March 30, 2018

Supporters of legislation designed to increase retirement savings are hopeful the measure will be approved by Congress later this year, despite being left out of a recent spending bill. The Retirement Enhancement and Savings Act of 2018 was...

DOL fiduciary rule: 5th Circuit decision could be big win for indexed annuities

March 21, 2018

Indexed annuities — and the intermediaries that sell them — appear to be the biggest benefactors of an appellate court's decision last week to vacate the Department of Labor fiduciary rule. While observers are divided on the ruling's implications,...

Appeals court upholds DOL fiduciary rule in case involving fixed indexed annuities

March 13, 2018

A federal appeals court upheld the Labor Department's fiduciary rule in a decision issued on Tuesday. The 10th Circuit Court of Appeals ruled in favor of a Kansas district court that granted summary judgment to the DOL in a lawsuit filed by...

Pacific Life swims against the tide in the indexed annuity market

March 9, 2018

Pacific Life Insurance Co. is an outlier among the scores of companies selling indexed annuities. Of the roughly 60 companies that manufacture these annuities, Pacific Life is unique in that it guarantees the maximum interest rate on its products...

SEC reaches $3.6 million settlement with Voya over securities lending

March 8, 2018

The Securities and Exchange Commission on Thursday announced a $3.6 million settlement with investment adviser subsidiaries of Voya Holdings Inc. for a securities lending practice that harmed mutual fund investors. In its order, the SEC alleged...

These 3 things may be keeping your clients up at night

March 5, 2018

What advisers do best is help their clients with the uncertainties of their financial lives. This year has already brought more unpredictability to the table, and many Americans are wondering if they need to reassess their financial plans. Here...

Pension risk transfers swelled nearly 70% in 2017

March 2, 2018

Employers offloaded pension liabilities at nearly record levels in 2017, a reflection of the fact that pension plans have become more costly to keep on the books, longevity has increased and 401(k) plans have grown more popular. Rising interest...

Massachusetts finds MetLife 'missing' pensioners, Galvin says

March 1, 2018

The Massachusetts securities regulator has found hundreds of retirees in the state who are owed pension payments by MetLife and whom the insurer said it had been unable to locate. MetLife provided the names to Secretary of the Commonwealth William...

Startup offers annuities online on a subscription plan

March 1, 2018

Matt Carey studied Arabic at the University of Pennsylvania, preparing for what he hoped would be a career at the Central Intelligence Agency. Eleven years later, he's pitching annuity contracts. He's actually happy about that. A summer job...

Bond dilemma requires new thinking

February 22, 2018

The case for bonds in investment portfolios has traditionally been compelling. With higher certainty of returns at lower volatility, they have been the stable cornerstone of portfolios, particularly over the last three decades, as bond prices...

DOL fiduciary rule continues to take toll on annuity sales

February 21, 2018

The Department of Labor fiduciary rule and the interest-rate environment delivered a one-two punch to annuity sales last year, pushing them down for the third consecutive year. Compared with the previous year, overall annuity sales dipped 8%...

New tax law could increase pension risk transfers

February 14, 2018

Pension risk transfers are poised to pick up this year as employers race to meet a tangential deadline imposed by the new tax law. A pension risk transfer allows employers to offload the risk associated with their defined-benefit plans to an...

Buffer annuities grow in popularity

February 13, 2018

Buffer annuities, also known as structured or variable-indexed annuities, are starting to gain traction. These products, a cross between indexed and variable annuities, have seen sales surge, as several other annuities have seen sales retreat....

Prudential pivots toward indexed annuities

January 29, 2018

Prudential Financial Inc. Monday announced the launch of its first indexed annuity, the latest variable-annuity carrier to pivot toward the increasingly popular annuity. The variable annuity market has had a rough go in recent years, having...

New York lobbies for nationwide 'best-interest' standard for life insurance sales

January 26, 2018

New York State is lobbying for a higher standard of care for life insurance sales across the country, arguing that consumers need stronger protections from conflicted advice and building off a national dialogue set off by the Department of Labor...

How new leadership at DOL could address retirement rules

January 25, 2018

By all accounts, the administration of Donald J. Trump is slashing regulations across government. However, there are some exceptions to the rule, and a less ambitious deregulatory regime seems likely under new leadership at the Department of...

State fiduciary rules may be reckoning for life insurance industry

January 19, 2018

The life insurance industry escaped the jaws of the Department of Labor fiduciary rule only to come face to face with another beast: the states. New York's recent proposal to impose a best-interest standard on life-insurance sales — a higher...

Morgan Stanley and adviser win lawsuit over annuity distribution

January 8, 2018

Morgan Stanley has prevailed in a lawsuit alleging the company and one of its advisers acted negligently when it told clients to take a particular type of annuity distribution, which cost the clients nearly $300,000 in tax liabilities. While...

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