Steve Garmhausen

Deciding what do to with an old 401(k) or other workplace retirement plan may not seem complicated, but a surprising number of participants do not understand which options are available to them, according to a survey by Fidelity Investments.

Of the 49 bank holding companies involved in credit insurance underwriting, reinsurance or both in 2010, 35 experienced declines, according to Michael White, president of the Radnor, Pa.-based research firm.

Based on the research, three keys to that are improved technology and training as well as a new way of measuring success, she says. Effron’s report, the fourth in a series stretching back several years, measures differences in perceptions between financial institutions and insurers.

Community banks’ investment programs are not yet back to their pre-financial-crisis levels of success, but the numbers confirm that 2010 was a step in the right direction.

Kris Jenner is trained as a surgeon and since 2000 has managed T. Rowe Price’s Healthcare Technology fund. Having an M.D. at the helm of a fund—and another on its analyst team—doesn’t hurt. Health Sciences boasts Lipper’s top scores for total return, consistent return and capital preservation, as well as low expenses.

In a year that saw its share of challenges for insurance sales, banks still managed to generate record levels of fee income. Such income totaled $13.33 billion, up 7.9% from the 2009 total of $12.36 billion, according to the Michael White-Prudential Bank Insurance Fee Income Report.

Advisers want technology that will give them a comprehensive view of a household’s assets so that they can rebalance and deliver goals-based guidance more effectively. On Thursday, Fiserv, Inc., of Brookfield, Wis., announced a plan to deliver such a solution.

According to data compiled for IRI by Morningstar, Inc., new sales were $136.6 billion in 2010, up 10.3% from 2009, when new sales totaled $123.9 billion. What’s more, assets reached an all-time high of $1.5 trillion, finally lifting the variable annuity industry above the pre-crisis levels of the third quarter of 2007.

Built-up demand for health savings accounts helped to account for a solid 2010 for J.P. Morgan’s HSA business, according to David Josephs, managing director with the company.

“Clearly, a lot of the same fundamental, structural changes to the industry continue to drive M&A,” says David DeVoe, managing director of strategic business development for Schwab Advisor Services.

Exchange-traded funds are likely to grab a “significant” share of the 401(k) market in coming years, according to Skip Schweiss, president of TD Ameritrade Trust Co.

Last year, total annuity sales through banks declined 25% from the prior year, which itself was down 18% from the year before that, according to Kehrer-LIMRA. Yet newly release data from the Michael White-ABIA Bank Annuity Fee Income Report shows that income from annuities was down just 1.8%.

A decade after its launch, Bank of America Merrill Lynch's 401(k) platform for small businesses is approaching 1 million participants — and it's expanding beyond its signature 401(k) focus.

Early indications are that March will follow suit, according to Kehrer-LIMRA.

Investment management executives told SEI, in a survey at a recent event for the company’s clients, that they plan to continue to invest to increase efficiency, reduce risk, and enhance client experience.

The wealth management unit’s new brand platform revolves around its advisers, says Joan Khoury, head of marketing for Merrill Lynch Wealth Management. New ad campaign also focuses on attracting advisors.

There’s no doubt that starting an advisory business can be harrowing, but finding good people to eventually take over your business may be even harder, says John Brackett, a regional director with Financial Network Investment Corp.

“These customers are seeing their parents struggle,” an executive at Fidelity said. “I think that is making it poignant for them; they need to have a bigger focus on savings.”

New York Life Insurance Co. announced strong 2010 financial results, strengthening its standing as one a post-recession winner in its industry.

“Don’t throw that term (independent) around,” SEI's Jim Morris said. “Clients may not understand it, and they’re inherently skeptical coming out of the events of 2008.”