NEW YORK - Selling retirement income guarantees after a recession is like selling flood insurance after a flood. Timing is everything, and currently the timing could not be better.

Insurance companies and asset managers have been longtime competitors for investor assets, but neither group offers what investors really need in retirement: An easy transition from building up wealth to drawing it down that provides retirees with a steady, pension-like income for the rest of their lives without requiring them to take big risks or sacrifice control.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.