Wealth Management
Top stories summarized by our editors
9/18/2018

Western & Southern Financial Group, which sells annuities and other retirement products, in addition to life insurance, will acquire Gerber Life Insurance from Nestle for $1.55 billion in cash. The transaction will allow Western & Southern to sell insurance products under the Gerber Life name.

9/18/2018

Reinsurers are moving beyond their traditional business with providers of life insurance into other areas that include working with annuity issuers, according a report from Moody's Investors Service. Reinsurers are interested in increasing their sales of "longevity risk" contracts that help annuity issuers hedge against the risk that annuity owners live longer than the companies expected, Moody's said.

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Moody
9/18/2018

Jackson National, a major provider of annuities and life insurance in the US, is urging financial professionals to make use of storytelling to sell its products. The company is providing several resources to help, including a photo essay aimed at helping consumers make the connection between life planning and financial planning.

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Jackson National
9/18/2018

A Gallup poll finds 12% of Americans view the economy as the No. 1 issue facing the country, a record low. The top concern in the poll is dissatisfaction with the government, with 29% of respondents citing it.

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The Hill
9/18/2018

Philanthropy is a good marketing tool for financial advisors, says Susan Kay, director of business development at MFS Fund Distributors. Kay, a speaker at the InvestmentNews Women Adviser Summit, offers examples that include hosting a dinner for clients and their friends that requires a donation to attend and contributing an auction basket to clients' charities that includes a certificate for "four hours of organizing your financial records in your own home."

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Susan Kay
9/18/2018

While interest is growing for environmental, social and governance investing, not many advisors invest this way, says Jeffrey Gitterman of Gitterman Wealth Management. "It's my job to tell clients where to invest their money, to release the demand for these assets," he said at the Sustainable Investing Conference.

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Bernice Napach
9/18/2018

Jack Guttentag, who has worked for the Federal Reserve Bank of New York and the National Bureau of Economic Research, suggests replacing the 4% withdrawal rule with the "retiree discretion rule." The latter factors in a retiree's age, gender, assets and expected life span, as well as expected inflation and return rates.

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Forbes
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Jack Guttentag
9/18/2018

Working longer to increase savings is not a viable retirement strategy, Mark Miller writes. Miller cites a study by David Blanchett, head of retirement research at Morningstar, that shows this strategy can work against savers if they must retire sooner than expected.

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WealthManagement
9/18/2018

Millennials' financial outlook is bleak because the population born between 1980 and 2000 doesn't save for retirement to the degree older generations do, is mostly financially illiterate and can't easily take retirement savings from one employer-sponsored program to another, experts said at a recent House hearing. James Lee, an FPA member and president of Lee Investment Management, said the financial industry must reach millennials through technology and digital platforms to change these trends.

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James Lee, FPA, House
9/17/2018

A data analysis by Pensions & Investments finds that hedge funds have offered downside protection since 2010 and have a 2.9% average three-year return when the S&P 500 enters negative territory. Other data from recent years show reduced fees and consistent allocations.

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Pensions & Investments