Archive for February, 2009

Published by Michael Ellison on 26 Feb 2009

The Summary Prospectus - A Webinar

Late last year, the Securities and Exchange Commission quietly passed amendments to improve mutual fund disclosure. At the heart of the regulation, which is available here, is a requirement that firms prepare three to four-page plain English prospectus summaries for all funds. I’ve actually read the document (exciting life I lead, I know), and it’s something that will benefit both investors and fund companies.

Investors will likely value the summary document much more than the current prospectus, which is about as fun to read (and as thick) as a telephone book. Fund companies, on the other hand, should value the fact that e-delivery is allowed as long as the four-page summary is mailed. One would think this would save tons of money on printing and postage. Continue Reading »

Published by Ben Pousty on 04 Feb 2009

How Toxic Are Living Benefit Riders?

We spoke to several advisors in researching our latest white paper and inadvertently gained insight into the thick cloud of uncertainty enveloping the annuity industry. In the last two months, we have written extensively on this blog about the effect of the economic downturn on annuity firms. One such topic is the modification of living benefit rider guaranties and what that product change says about the ability of firms to meet their financial commitments to annuity contract holders.

Continue Reading »

Published by David Rosenberg on 03 Feb 2009

Charles Schwab Throws Its Hat Into the Retirement Planning Service Ring

Real Life Retirement A couple of weeks ago, Charles Schwab announced the launch of its Real Life Retirement Services with a new interactive online promo. While retirement planning is not a new service from the firm, thisĀ is the first time that Schwab introduced a real branded retirement planningĀ ”product” or suite of services. Continue Reading »