Killing two birds with one stone, Schwab delves deeper into the variable annuity game

We work a lot in the retirement market. Our study suggest annuities are a must — for everyone. There is no other way, yet invented, to handle longevity risk.

We suspect they will be a government utility at some point. If governments are the payer of last resort for individual’s bills, for decades after work, how else would those liabilities be funded?

While a lot of money is spent to SELL annuities, the marketing of annuities is just awful. Disclosure – we are marketers. Maybe they are too complex to market widely, but the basic research and testing needed to answer that kind of question hasn’t been done yet. Long-term Care has similar issues on the pricing and terms side.

If we were betting, we would predict the industry will continue to hit it’s head against the wall and some kind of government sponsored utility will we created – for most retirees.

Schwab has lots of money and great resources to put against the problem – so good luck to them. Hope they did some testing, experiments, etc, with the distribution and sales partners (advisors) along with basic, product development. But while those steps are standard practice in other industries, they are still very radical for financial services.

A correction on two of your points: Schwab filed six new ETFs, not five as reported; and Tony Davidow was not “hired to head Schwab’s effort to expand its fundamental fund using ETFs.” He is a portfolio strategist within Schwab focusing on alternative beta and asset allocation education and advice for advisors and retail investors, not within Charles Schwab Investment Management, which manages investment products such as ETFs.

— Company spokesperson

Greg,

Thanks for the catches…100% on me. I made deletions and fixes that hopefully eliminated these inaccuracies.

Brooke

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Practical analysis , I am thankful for the info . Does someone know if my assistant might acquire a template a form copy to fill in ?