Wealth management

Sales of annuities through banks ended the year with a promising lift, specifically for variable business.

Employees as a whole made significant improvements to their finances in 2010, despite a tepid economic recovery and sluggish rebound of job and real estate markets, according to a new study.

About 40 years ago, they were told to cut their hair and find a real job. Today, this same massive segment of the American population, better known as baby boomers, is getting another ultimatum: stop spending so much money and work even longer at that real job.

Many people who retired in 2000 thought they were in great shape: over the last 20 years, stocks returned 17.8% on average.

Nearly 875,000 employees increased their contributions to 401k plans in 2010, a 21% increase over 2009’s level of 721,000 employees, according to BofA/Merrill Lynch’s Retirement & Benefit Plan Services report.

This afternoon, the Senate HELP Committee (Health, Education, Labor and Pensions) will meet to discuss the retirement security crisis — specifically, how to help Americans save more for retirement and make better saving decisions.

Contributions to 401(k) plans increased in the last year, Principal Financial found in a survey last fall of 1,159 employees and 529 retirees.

As companies act to attract and retain good employees, many are choosing to offer financial planning as one of the perks of employment. But in the words of Albert Einstein and Alexander Pope, a little knowledge can be a dangerous thing.

Assets held in domestic exchange-traded funds reached a record $995 billion at the end of last year.

Gen-Y Americans showed notable caution regarding their personal finances, according to the Western Union Payments Money Mindset survey.

A greater number of U.S. households are at risk of falling short of money in retirement because of the housing and financial crisis, according to a report.

Men and women have distinct approaches to financial management, according to a new survey from Charles Schwab.

As the wave of retiring Baby Boomers presents new growth possibilities, providers of annuities products need to step public awareness efforts, a new study finds.

Ninety-four percent of Americans wish they did a better job of managing their money, and 89% of respondents in other parts of the world shared that sentiment, according to the ING Retirement Institute Research Institute.

As 401(k) balances rebounded in 2010, the executives running defined contribution plans named retirement readiness one of their top priorities, according to the “10th Annual 401(k) Benchmarking Survey,” conducted by Deloitte and the International Society of Certified Employee Benefit Specialists.

After three years of cautious spending and paying down debt, American households have significantly improved their balance sheets. Yet consumer confidence slipped in December as more people worried about the job outlook.

Despite the increasing proliferation of target-date funds in employer-sponsored retirement plans, many sponsors aren't very knowledgeable about the funds, Janus found in a survey.

It's no secret that the fiscal environment for all public agencies around the country is challenging, to say the least. Sales and property tax revenues are in decline. State budget cuts mean reduced cash flow for operating expenses, including salaries and benefits.

Employers gradually are becoming aware that the financial health of employees can have a resounding impact on a number of job-related factors, including absence, presenteeism, disability, retention and turnover, and productivity.

Peter Browne may well be one of the most distinguished individuals on the sales side of today's financial services industry. His career spans five decades as a manager and leading producer at Union Central Life and co-founder of Price Raffel and Browne of New York and Los Angeles.