| ING Announces Valerie Brown’s New Role
By Marshall Eckblad
April 3, 2007- ING announced two weeks ago that Valerie Brown would leave her post as president of the ING Advisors Network--the company’s network of broker-dealers—-to assume a new role at ING US Financial Services, the network’s parent company. Today the company announced the details of Brown’s move, disclosing her new title as executive vice president in charge of the company’s annuities and wealth management efforts. Brown is specifically charged with oversight of ING’s new wealth management platform as well as the company’s 401(k), 403(b) and retail annuity business lines. Part of those responsibilities include work that will keep her involved with the company’s network of broker-dealers.
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Poorer boomers aren't looking forward to retirement
BASHING baby boomers is becoming so passe. The Howard Government's Intergenerational Report found that the ageing of the population does not constitute a crisis but rather a fairly manageable transition. Despite this, a number of commentators continue to insist that the age pension claims of a large cohort of boomers will put unsustainable pressure on government finances and place an intolerable burden on younger generations. This is despite the fact that the Government's projections identify the most critical period as being in the 2030s and 2040s when most boomers will be dead and generation X will dominate the pension budget. Treasury projections anticipate that as far ahead as 2050, the proportion of people of pension age receiving some form of age pension will have fallen only slightly, to 75 per cent.
Woman admits to taking money from area doctors
ZANESVILLE - A Duncan Falls woman who bilked two local doctors out of thousands of dollars in patient payments entered a guilty plea to theft charges Wednesday in Muskingum County Common Pleas Court. Also, a local man who reported a robbery at a convenience store as a cover for stealing money from the store pleaded guilty. .
Annuitants squander years of investments
Failing to shop around and exercise the Open Market Option to purchase an enhanced annuity with the best rate is equivalent to losing 15 years of investment performance, according to adviser, Just Retirement. Peter Ellis, head of annuities at Just Retirement, points out that a standard annuity as low as £4,900 per year could be bought with a fund of £77,130, according to the FSA tables, whereas a fund of £56,518 could obtain an enhanced rate of slightly more - £4,934. ‘The benefit of selecting a good provider pre-retirement could be completely lost at the point of retirement. This is equivalent to throwing away 3.8% per year in extra performance - something nobody would be happy about,' said Ellis. The Open Market Option is available to most money purchase or individual pension funds and allows the policyholder to choose an annuity from any other provider.
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