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Articles by Brett Carmichael
BISA Portfolio > Article
Leadership Perspectives | 02.15.22 by Brett Carmichael, Nationwide Financial Leadership Perspectives | 02.15.22 by Martin Powell, CUNA Mutual Group Insights | 02.15.22 by Kristen Beckman Insights | 02.15.22 by Heather Gillers News | 02.14.22 by InvestmentNews News | 02.14.22 by Emile Hallez Regulatory Outlook | 02.14.22 by James Rundle Insights | 02.12.22 by Karen Langley News | 02.11.22 by David French
From Tokenism to Recruiting and Retention: A Look at Top Diversity and Inclusion Issues
Leadership Perspectives | 02.15.22 by: Brett Carmichael, Nationwide Financial We had the fortunate chance to interview Brett Carmichael, associate vice president of strategic accounts at Nationwide Financial and a member of BISA’s Diversity, Equity and Inclusion Committee, for his perspective on DEI and how organizations can foster an inclusive environment, as well as recruiting and retaining employees with diversity in mind.
Providing Inclusivity and Confronting Unconscious Bias
Leadership Perspectives | 02.15.22 by: Martin Powell, CUNA Mutual Group We had the opportunity to interview Martin Powell, head of annuity distribution at CUNA Mutual Group and a supporter of BISA’s Black Voices Unmuted task force, to share how leaders in his organization are tackling unconscious bias and creating an inclusive environment. 1. How have the CUNA Mutual Group leader retreats been impactful in terms of training the organization about inclusivity and unconscious bias?
Financial Goals Increasingly Important to Americans - But Are They Achieving Them?
Insights | 02.15.22 by: Kristen Beckman Many Americans have scaled back their savings goals during the past year, and only a small percentage have been able to achieve them. Financial goals are superseding lifestyle goals for many Americans during the coming year. 37% of all respondents are focusing on paying off personal debt this year and retirement planning was a close second at 36%.
Pension Funds Chase Returns in Private-Market Debt
Insights | 02.15.22 by: Heather Gillers Retirement funds are clamoring to invest in private-market loans, hungry for an asset that can beat public markets while at the same time throwing off cash to help pay benefits. Across the United States, state and local retirement funds with private-credit portfolios are expanding them faster than any other alternative investment, from an average allocation of 3 percent to an average target of 5.7%, according to analytics company Preqin.
Fintech Raises $5.1 Million to Expand Annuity Platform for 401(k)s
News | 02.14.22 by: InvestmentNews Micruity Inc., a San Francisco-based financial technology company, has closed $5.1 million in seed financing to accelerate the expansion of its income connectivity platform, which facilitates the use of annuities inside 401(k)s. SixThirty Ventures led the round, joined by strategic investors Allianz Life Insurance Company of North America, Franklin Templeton, Pacific Life and Western & Southern Financial Group.
Investment Firms Watching 401(k) Market for ESG Growth
News | 02.14.22 by: Emile Hallez Nearly one in five defined-contribution employee-sponsored retirement plans in Fidelity’s business in 2020 included at least one environmental, social and governance (ESG) investment option, and the company expects that proportion to increase amid greater awareness by young workers.
SEC Proposes Cyber Rules for Investment Funds and Advisers
Regulatory Outlook | 02.14.22 by: James Rundle Financial regulators proposed long-awaited cybersecurity rules for investment funds and advisers last week that would require thousands of companies to report cyberattacks within 48 hours. The SEC said funds and registered investment advisers must develop written policies and procedures for dealing with cybersecurity incidents and keep detailed records on them.
The Stock Market Hasn’t Looked This Cheap in Nearly Two Years
Insights | 02.12.22 by: Karen Langley U.S. stocks appear cheaper than they have since the early days of the COVID-19. Although major indexes are still hovering near record levels, a punishing early-year selloff in technology and other growth stocks has brought valuations down closer to historical norms. The U.S. stock benchmark traded late last month at as low as 19.3 times projected earnings over the next 12 months, according to FactSet, falling below 20 for the first time since April 2020.
MetLife Explores Sale of Variable Annuity Business - Sources
News | 02.11.22 by: David French MetLife Inc. is reportedly exploring the divestment of its U.S. variable annuity book as it seeks to free up resources to invest in higher-growth parts of its business. The insurer is working with an investment bank on the plan, which is in its early stages, according to people familiar with the matter. MetLife does not disclose the size of its variable annuity business.
Fiduciary Rule Guidance Prompts Lawsuit Against Biden Agency
Regulatory Outlook | 02.10.22 by: Austin R. Ramsey Guidance the U.S. Department of Labor (DOL) issued last year clarifying its stance on investment advice under a 2020 fiduciary rule violates the Administrative Procedure Act, the American Securities Association said in a federal lawsuit filed Wednesday.
The SEC Approves Advisor Private Fund and Cybersecurity Proposals
Regulatory Outlook | 02.09.22 by: Tracey Longo The SEC on February 9 approved three proposals that will directly impact financial advisors: a proposal to require advisors to private funds to provide full cost and performance disclosures to clients, a proposal that outlines advisors’ cybersecurity duties and a proposal to accelerate the securities settlement cycle from two days to one.
FINRA to Update Variable Annuity Exam Questions
Regulatory Outlook | 02.09.22 by: Allison Bell FINRA announced it will update variable annuity exam questions concerning use of automated transaction tracking tools. The agency said a question about variable annuity buyout supervision will be added, along with general questions about compliance technology programs. FINRA officials said the update to the exam priorities reflects the new Regulation Best Interest rules along with the older annuity suitability rules.
FINRA Finds Brokerages Fall Short on Reg BI Compliance
Regulatory Outlook | 02.09.22 by: Mark Schoeff, Jr. FINRA outlined shortcomings it found during Regulation Best Interest (Reg BI) compliance reviews in a report on its examination and risk monitoring program released Wednesday.
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