When people buy annuities, it raises the value they place on their lives and they take steps to live longer, according to a working paper by several economists that was published by the National Bureau of Economic Research. The paper points to earlier research showing that "people with more generous annuities live longer than those with less generous annuities."
Jackson National Life Insurance said it will offer all of its advisory annuity contracts through the Envestnet Insurance Exchange. Allianz Life Insurance Company of North America and Global Atlantic Financial Group have also signed on to sell annuities through the exchange.
Retirement policies do not take into consideration the reasons couples retire together, according to a study from the National Bureau of Economic Research. This "can throw off the intended results of such policies so that they have a far greater, or lesser, impact," Marlene Satter writes.
A study from IonTuition finds 66% of people want the ability to put retirement matching contributions toward student-loan repayment, up from 49% a year ago. Many people feel as though they have to choose between making loan payments and saving for retirement, experts say.
There's no deadline for completion of the Securities and Exchange Commission's proposed rule governing investment advice, Chairman Jay Clayton says. "It's not this month, probably not next month," he says.
Alternative investments accounted for 7.2% of assets under management by US advisors in 2017, up from 5.7% the year before, Cerulli Associates said in a report. About 40% of advisors surveyed said they used alternative investments, according to the report.
Consultant Angie Herbers discusses how advisory firm Facet Wealth used a proprietary technology platform to "cost-effectively provide fiduciary financial planning advice to small accounts." Facet's work is an example of what independent advisory firms are capable of, Herbers writes.
As more states legalize marijuana for medical or recreational use, financial advisors are fielding questions from clients about investing in the industry. Some say clients should only invest money they are willing to lose, while others advise investing cautiously and for the long term.
The Summer 2018 issue of IRI Insight includes an examination of the unique retirement risks faced by women, and the opportunities advisors have to help them plan. This issue also introduces "IRI Fast Facts," an infographic of select findings from our exclusive research that provide perspective on the retirement-planning challenges Americans face today. The issue includes articles on engaging families in long-term-care planning, optimizing Social Security benefits, volatility managed strategies and an interesting look at what clients say when their advisors are not in the room.
The IRI Retirement Fact Book 2018 is the definitive guide for the retirement income industry and the go-to resource for financial professionals and public policymakers. The latest edition provides the most recent research on generational retirement readiness, demographic insights and marketing trends from the retirement income marketplace, bolstered by market research and sales data. Other updates include a review of new developments in product innovation and the legal/regulatory environment. Download the PDF or order a printed copy here.