The Securities and Exchange Commission should not impose a best-interest standard on insurance agents selling fixed annuities, an industry group said in a comment letter to the SEC. The Fixed Annuity Consumer Choice Campaign argued agents are already legally bound to give clients full and accurate disclosure and only make…
Results from a recent Invesco study show investors need help from their advisors “now more than ever,” says Kristina Hooper, Invesco’s chief global market strategist. Investors are “confused and overwhelmed,” says Hooper, which is leading to emotionally driven decision-making. ThinkAdvisor
Salting away $1 million for retirement is an oft-cited goal, but a person can save less and still have comfortable senior years, while others might need more. Variables to consider include inflation, household expenses and a possible need to aid family members. U.S. News & World Report
Four retirement experts offer tips for boosting your nest egg. These include treating your retirement savings like a business and focusing on income rather than assets. Forbes
Discussing benefits with millennials requires a different approach than was used with other generations, write Cy Moser and Mike Dahlinger of Trustmark Voluntary Benefit Solutions. They suggest sticking to the basics, playing to emotions and stressing value and convenience. Employee Benefit Adviser
The “theoretical attractiveness” of annuities “hasn’t translated to the marketplace,” and one of the key reasons is annuities’ label and its overall marketing, writes John Rekenthaler, vice president of research for Morningstar. He suggests rebranding annuities by calling them “guaranteed income.” Morningstar
A panel of four female financial experts discussed how advisors can offer special help to women, who they said are more likely to experience surprise events in life. These events can include job loss, divorce or issues with child care and elder care. Financial Advisor online
Sixty percent of baby boomers surveyed fear they will run out of money in retirement, but advisors can help allay those fears. It’s vital for advisors to create a comprehensive plan for clients’ income and taxes in retirement, says Noble Capital founder Jadon Newman. InsuranceNewsNet online
Annuities may not be a perfect fit for every client, but advisors are failing to serve their clients and in their own fiduciary duty if they never mention them, says Lance Carlson, Great-West Financial’s head of sales distribution. He notes that annuity products offer simplified compensation structures and competitive withdrawal…
The Social Security trust funds will run out of money by 2034 if no action is taken by lawmakers to remedy the funding shortfall, at which point benefits will be cut by more than 20%, according to the Social Security Administration’s annual report. The program is predicted to run a…
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