Among the retirement trends that experts say human resources and benefits professionals should watch for in 2017 are fiduciary framework changes, an increase in default-driven plan design, a continued increase in automation and more consolidation among record-keepers.
Annuities are a key piece of guaranteed retirement income, according to the Organization for Economic Cooperation and Development. Beyond income benefits, annuities help retirees manage longevity risk, the OECD said.
BlackRock joined forces with Lincoln Financial Group to create a variable annuity that invests exclusively in exchange-traded funds. The annuity is designed to provide retirement income that could increase yearly.
A survey by TIAA found that most Americans don't understand what annuities do or don't even know they exist. Only 10% of Americans own annuities, the survey found.
Athene Holding, which was the seventh-largest US seller of fixed annuities during the first three quarters of this year, brought in $1.08 billion in its initial public offering. It was the third-largest public offering in the US this year.
Several provisions relating to retirement, including one encouraging plan sponsors to offer annuities, were taken out of a spending bill passed by the House of Representatives on Thursday prior to the vote.
Social media can be a valuable tool for recruiting new advisors and building a client base, says Josh Brown, CEO at Ritholtz Wealth Management. Brown, who has 240,000 Twitter followers, sees advantages to clients coming on board already understanding a firm's philosophy toward financial planning.
The financial crisis that wiped out the home equity many owners used to take out loans has increased the number of Americans nearing or in retirement who still owe a lot on their homes, notes a study by Boston College's Center for Retirement Research. There are solutions, however, for those who are willing to move to a smaller place, rent or take on extra work.
Research suggests that multitasking is inefficient and that doing things one at a time can be better, writes Joni Youngwirth, managing principal of practice management for Commonwealth Financial Network. Keep that in mind when setting business goals for 2017 and stagger the completion date for each rather than having a Dec. 31 deadline for all, she writes.
An FPA survey finds that 73% of investors working primarily with a robo-adviser are satisfied with the service, 75% of those working primarily with a human adviser are satisfied, and 39% would like a combination of both.
- Page 1