Financial professionals should approach millennials by offering to help them get ready for a new life experience instead of for retirement, the National Football League's chief marketing officer, Dawn Hudson, said at an industry conference. They don't want advisers to focus on "protection," she said. InsuranceNewsNet online (9/28)
Nationwide Mutual Insurance will buy Jefferson National Insurance, an annuities company specializing in fee-based products. The Labor Department's fiduciary rule was a factor in the deal, and together the companies can better meet the growing demand for financial services in a fee-based environment, said Steve Rasmussen, Nationwide CEO. ThinkAdvisor (9/28),
Older retirement savers can purchase a type of deferred income annuity known as a qualified longevity annuity contract to put off the day they have to make the required minimum distributions from retirement accounts that are normally mandatory under IRS rules, writes financial planner Andrew Murdoch. "These allow individuals to…
Rather than presenting an obstacle to the sales of variable annuities, the Labor Department's new fiduciary rule could end up breathing new life into the sales of the products, said Warren Posner, senior vice president of complex product management with the independent broker-dealer LPL Financial. The change will take place…
Research compiled by financial economics experts suggests we are entering a new low-return environment for safe and risky investments, which could have an enormous impact on the investment advising profession, writes Michael Finke, dean and chief academic officer at The American College of Financial Services. Fink offers tips for advisers…
Buying income annuities that deliver yields that take advantage of mortality pooling is one of the most effective approaches to obtaining higher returns without putting assets at risk in a time of low interest rates, writes Michael Finke. Among the various types available in the retirement market, a deferred income…
If they are to have successful futures in financial services, advisors are going to have to do a better job of communicating their value to clients, said Robert DeChellis, the new chairman of the Insured Retirement Institute, speaking at IRI's annual meeting. "There has never been a greater need to…
The Federal Reserve has voted 7-3 to leave interest rates unchanged, but growing support for an increase suggests one will come before year-end. "The committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence…
Life insurance agents and brokers should promote policies' "extra" benefits, which can include financial-planning help and travel assistance, writes Jennifer Gassaway of The Standard. BenefitsPro.com (9/20)
One of the most common misconceptions advisers have about the Labor Department's fiduciary rule is that it will not significantly affect their everyday business, writes Matt Matrisian of AssetMark. Confusion also surrounds the rule's grandfathering provision, as well as the use and effective dates of the best-interest contract exemption, he…
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