Total Annuity Sales Jump 11%, Poised to Break Annual Record
Retail annuity sales hit $89.4 billion in Q3, while deferred income annuity sales reached $950 million, according to LIMRA.
News
Creative Planning Acquires Mesirow’s Retirement Advisory Business
The RIA adds $13 billion corporate plan services team soon after announcing a deal for Goldman’s personal finance unit.
DOL Proposal Would Subject Rollovers, Annuity Sales to ERISA
The proposal seeks to tackle conflicts of interest in both areas, as well as advice given to plans on investment...
Auto Features in Private Sector Plans Could Influence Public Plan Design
Private sector automatic escalation has become commonplace and could incentivize the public sector to do the same, MissionSquare reports.
Significant Benefit Increases Expected from Tentative UAW Deals
United Auto Workers are likely to see significant increases to employer 401(k) contributions and pension plan payouts, despite not having...
Advisory M&A News – 10/30/23
CAPTRUST adds $1B wealth advisory in Indiana; NewEdge Advisers adds Florida-based adviser serving individuals and small businesses; Kestra builds up...
HSAs Still Have Room for Improvement, Morningstar Reports
Despite the rapid growth of HSAs in recent years, providers can still do more to encourage HSA participants to use...
Q3 Reports Show Growth for Retirement Sector Providers
Fidelity, Principal, T. Rowe Price and other firms with retirement sector business showed improved results compared with last year.
Retirement Industry People Moves – 10/27/23
NAGDCA elevates Hiers to executive board president; Principal Asset Management hires Seaver as market director; Savvy Advisors recruits Most as...
State AGs Appeal Dismissal of Suit Challenging DOL’s ESG Rule
The Department of Labor’s defense continues on two tracks, one in Wisconsin, and 2another in the 5th Circuit.
Vanguard Target Date Retirement Fund Series Turns 20
The low-cost investment vehicle has come to dominate retirement plan savings, but industry voices are calling for more personalization.
Security Benefit COO: There’s Potential for Advisers to Work More With Women
A benefits expert shares barriers that affect women’s decisions to create a financial plan or find an adviser.
New Speaker Mike Johnson Remains an Enigma to Retirement Industry
Having served on unrelated committees, Johnson’s legislative record on retirement issues is rather thin.
Investment Product & Service Launches – 10/26/23
Centro API integration; MassMutual announces new fixed deferred annuity; American Trust Wealth launches mobile app, client portal; and more.
Adviser Talks: Kelli Send Discusses Plan Participant Services (Video)
Send, of Francis LLC, discusses the importance of connecting with participants beyond the 401(k) to help with overall financial success.
Morgan Stanley Promotes Co-President to Replace Gorman as CEO
Ted Pick will take the role in January, following James Gorman’s 13 year run.
Candidly Launches Emergency Savings Solution
The education debt management platform expands with ‘more inclusive solution’ available as one of its SECURE 2.0-based retirement options.
‘You Know What the Rules Are,’ Gensler Tells Crypto Industry
The oft-critical SEC chair repeated that the cryptocurrency industry is unusually non-compliant with securities laws.
SEC Fines BlackRock Advisors $2.5M for Disclosure Violation
The SEC charged the firm with inaccurately describing a business in which it held $75 million in debt.
Product Partnerships – 10/25/23
Pontera and Kovack announce partnership; Russell Investments partners with Venerable; NewEdge Wealth adds iCapital to alternative investment platform; and more.