Cerulli: Variable annuities serve many purposes in portfolios | Many employers expect workers to want guaranteed retirement income | Wink: Annuity sales up in second quarter
August 17, 2018
NAIFA SmartBrief
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Cerulli: Variable annuities serve many purposes in portfolios
A survey from Cerulli Associates finds 34% of people with a variable annuity are unsure of the reason they bought the product. That is likely because of variable annuities' versatility within portfolios, rather than confusion about the product, says Scott Smith of Cerulli.
InsuranceNewsNet Magazine online (8/16) 
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Industry News
Many employers expect workers to want guaranteed retirement income
A survey from TIAA finds 51% of employers think employees would want $2,700 monthly throughout retirement, instead of a $500,000 lump sum upon retirement. The survey also finds 57% of employers think employees would get retirement income from nonguaranteed sources, while 14% of employers say income would come from an in-plan annuity.
ThinkAdvisor (free registration) (8/16) 
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Wink: Annuity sales up in second quarter
Indexed annuity sales were up 18% in the second quarter compared with a year ago, while sales of multiyear guaranteed annuities rose 27% year over year, according to preliminary data from Wink. Overall annuity sales were up 20% compared with a year ago, Wink said.
ThinkAdvisor (free registration) (8/15) 
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Investment Trends
Column: Annuities could be good for clients concerned about a downturn
People approaching retirement have a right to be concerned about how they might ride out a market downturn, and annuities are one way to do so, writes Zach Parker of Securities America. "Annuity options with guaranteed minimum withdrawal benefits may be worthwhile for clients concerned about future market volatility," he writes.
ThinkAdvisor (free registration) (8/16) 
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Policy Watch
CMS approves N.J. reinsurance program
The Centers for Medicare & Medicaid Services has approved New Jersey's request to create a reinsurance program, which the state expects will lower Affordable Care Act insurance premiums by as much as 15% next year. The program, which will draw funding partly from enforcement of a state penalty for residents who do not enroll in health coverage, will help insurers shoulder costs for the sickest patients.
The Hill (8/16) 
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Building Your Business
Consultant: Don't try to be a fixer for clients' grief
Amy Florian of Corgenius writes that advisors generally have a fixer mentality that may lead them to try to "explain the death in hopes of lessening the pain." She contends that this can be alienating to clients and offers suggestions for ways to approach the situation.
WealthManagement (8/15) 
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Expert offers advice on building an app for a financial-advisory business
Mike Capelle, head of United Capital's technology platform, provides a guide for advisors looking to build an app for their practice. "Going forward, firms that don't either build an app independently or find a partner to help will struggle to survive," he writes.
Financial Planning online (8/15) 
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Young Americans optimistic about their finances but in need of guidance
Young Americans are optimistic about their future financial prospects. More than three-quarters of 16- to 25-year-olds in a recent Charles Schwab survey say they expect to do better financially than their parents. Some 81% say that they have seen their parents experience a financial hardship of some sort. Read more at the NAIFA Blog.
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