It’s been a tough close to 2008, so here’s to a happy, healthy, and prosperous 2009 for all!

- The Corporate Insight Team

Last week, Zecco quietly introduced a free virtual trading tool, Zecco Zimulator, allowing investors to trade stocks, options and futures. Users are required to register with Zecco but don’t need a Zecco trading account. Each Zimulator account is given $100,000 in virtual dollars and users can open as many accounts as they want. The tool functions as an educational resource for novice investors looking to gain trading experience before investing real money. Alternatively, more experienced investors can use the tool to test out trading strategies. The firm emphasizes that any gains or losses have no monetary implications and that virtual trading accounts have no bearing on any real Zecco trading accounts.

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The bad news surrounding variable annuities continues to mount as the annuity industry begins to feel the full effects of the financial crisis. Earlier this week, we questioned the assurances offered by annuity firms after AXA Equitable and MassMutual announced plans to modify, or in some cases eliminate, existing living benefit riders in an effort to reduce insurance responsibilities and risk exposure. This news coupled with the staggering year-to-date losses for VA contracts which stands at a 214.7 billion dollar loss after three quarters have injected a level of uncertainty and panic into the average annuity investor. No wonder variable annuity sales are down 10% in 2008 while safer fixed annuities are up a remarkable 41%. Continue Reading »

In quick succession, both Fidelity and Schwab recently introduced new credit cards on their respective public sites. While new card product offerings are not normally a thing to write home about, especially considering the current environment of increasing charge-off rates, these new cards each offer an interesting twist on rewards.

Instead of offering clients points towards merchandise or a percentage return as “cash back,” the Fidelity Retirement Rewards and Schwab Bank Invest First cards each reward clients with 2% back on all spending – money which is then deposited directly into an investment account at the firm. Continue Reading »

The continuing turmoil in the markets was once again an area of focus in November. While the majority of firm communications regarding the market are now posted online, a number of firms tracked by Corporate Insight have also been reaching out to clients through the mail. Corporate Insight’s new Market Messaging report highlights and reviews volatility-related mailings from 14 firms in the banking, brokerage and retirement spaces. Click here for your copy of the report.

Of course, market turmoil was not the only news from November. A number of firms made significant changes and announcements on their sites.

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The consequences of the ongoing financial crisis are magnified for folks approaching retirement age. As 401k plans and other investment vehicles tied into the market continue to nosedive, many individuals are being forced to reassess their retirement investment strategies and time horizons. As the uncertainty and panic continue to mount on Wall Street, older investors are turning to safer alternatives in an effort to preserve capital. Thus, it follows that annuities with their comforting assurances of guaranteed retirement income streams are selling at record levels in this tumultuous economic climate.  Continue Reading »

By definition, insurance is a way of transferring risks associated with certain unforeseen events from an individual or corporation to an insurance company (in exchange for a premium). Not surprisingly, insurance companies have worked hard over the years to establish a reputation for stability and dependability. Recent events have begun to call into question this reputation. Several insurance firms – including the Hartford, Lincoln, Principal and Prudential– have drawn unwelcome scrutiny regarding their ability to pay claims. Policyholders are now sharing some of the recent fears of shareholders. Continue Reading »

Today’s Investor’s Business Daily has an article highlighting how Dell used blogs to improve customer service, gain new ideas, and solve product issues. One quote in particular supports one of our main recommendations in our Social Media: Trends & Tactics in Financial Services Industry report - Begin by Listening: Continue Reading »

Last week, we received an email from Charles Schwab asking us to complete a short survey regarding the firm’s online trading community. As with most customer satisfaction surveys, the firm is trying to get a better understanding of how, why and/or if customers are using this social network. The most interesting questions offer a glimpse into what Schwab might be looking to do with the community going forward. The following picture is the sixth screen from a 10-screen survey: Continue Reading »