MassMutual Expands Retirement Income Focus
MassMutual Financial Group created MassMutual Retirement Income (MMRI) for the retail retirement-accumulation and retirement-income market, integrating its Annuity and Income Management Group business units.
MMRI will deliver advisor-focused solutions for customers' accumulation and guaranteed lifetime income needs.
Reflecting the growing importance of investment behavior, risk and hedging issues within retail retirement accumulation and income products, MassMutual has established MMRI apart from its U.S. Insurance Group.
"The tens of millions of consumers nearing retirement are seeking to convert accumulated retirement savings into retirement income, and most want the security that comes from a portion of their retirement income being guaranteed," says Drew Dickey, the senior vice president for retirement income who leads the new group.
"MassMutual Retirement Income will incorporate a suite of advisor-focused services, education and solutions to help retirees create nest eggs with the purpose of converting these assets into guaranteed lifetime income," he adds.
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Annuity Feature Allows "Income Storage"
The U.S. division of Sun Life Financial has launched Income ON Demand, an income storage benefit available for additional cost with most Sun Life Financial Masters variable annuities.
The feature lets pre- and current retirees secure lifetime income equal to 5% of their income benefit base and to store deferred withdrawals for withdrawal in a future year in addition to the annual amount available in that year.
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ING Introduces ROP Life Insurance
ING has introduced ING Return of Premium term life insurance, offering valuable death-benefit protection from term life insurance with the ability to get premiums back at the end of the policy's term (excluding flat extras).
R eturn of premium term policy holders build up a cash value equaling the insurance premiums paid should the policy be kept through the term length.
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Six Emerging-Markets ETFs Offered
Street Global Advisors (SSgA), the investment management arm of State Street Corp., has begun trading six new SPDRs emerging-markets exchange-traded funds based on the S&P/Citigroup Global Equity Indices on the American Stock Exchange.
"The regional SPDRs are designed to provide a level of diversification unavailable in more concentrated, country-specific approaches," says James Ross, SSgA senior managing director.
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Investors Capital Chooses Albridge Solutions
Albridge Solutions Inc., a provider of enterprise data management (EDM), Web-based portfolio accounting and performance reporting solutions, announced its technology has been adopted by Investors Capital Corp. and is now in implementation among the firm's network of more than 700 financial advisors.
ICC's advisors are able to generate on-demand, personalized performance reports, consolidated client statements and access a consolidated view of their clients' net worth.

Schwab, Metavante Form Custodian Alliance
Schwab Institutional, a leading provider of custodial, operational and trading support for more than 5,000 independent investment advisors, has announced a collaborative agreement with Metavante Corp. that will give Metavante trust bank clients the option of selecting Schwab as their custodian.
Metavante and Schwab are developed an automated interface. Metavante is the banking and payments technology subsidiary of Marshall & Ilsley Corp.