According to Wink’s Sales & Market Report, third-quarter sales of deferred annuities soared almost 21% over the prior-year quarter. Deferred annuities include variable annuities, structured annuities, indexed annuities, traditional fixed annuities, and multi-year guaranteed annuities (MYGA). Indexed annuities saw the largest gains. Sheryl Moore, CEO of Wink, Inc. and Moore Market Intelligence said that "It was a record-setting quarter for indexed annuity sales. In fact, 2022 will be a record year for indexed annuities as well." Total non-variable deferred annuity sales, which include indexed annuities, traditional fixed annuities, and MYGAs, came in at $48.8 billion for the quarter, up 67.1% compared to the prior year's quarter. However, variable deferred annuities, which include structured annuities and variable annuity product lines, did not see the same gains. While sales came in at $23.5 billion, that figure was down 10.8% compared to the previous quarter and down more than 23% compared to the same quarter last year. The No. 1 selling deferred annuity for the quarter was Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred Annuity. 

Finsum:With indexed annuity sales leading the way, total deferred annuity sales soared year over year. 

Thought Taylor Swift was all the rage? Okay; fair enough, especially if you ask Ticketmaster.

But she’s going to have to scoot over. In the financial industry, succession planning’s become all that and more, according to diamond-consultaants.com. Not only that, when it comes to the movement of advisors its propelled into a primary driver.

Programs like Merrill’s CTP (Client Transition Program), Morgan Stanley’s FAP (Former Advisor Program), and UBS’s ALFA (Aspiring Legacy Financial Advisor) Program, have been formulated by most wealth management firms. As a result, senior advisors can call it a day in place and the next gen, over time, can assume the reins of the business.

With succession planning, of course, employees are recruited and developed, according to corporatefinanceinstitute.com. The intent: to fill a role – a key one, at that – with an organization. What it does is rachet up the availability of employees who’ve not only been around the block, but competent, to boot. They’re up to the task of supplanting members of the old guard who’ve oh, say, left, retired or passed away.

Succession planning circumvents the potential of creating a hole in leadership in the aftermath of a retirement or departure of an organization’s senior officer.

Based on a recent report from the Alternative Credit Council, the private credit affiliate of the Alternative Investment Management Association, private credit managers remain bullish on their business prospects heading into the new year. In fact, more than 80 percent of global private credit managers are either bullish or cautiously optimistic about the market’s prospects over the next 12 months. The report was based on a survey of 54 private credit managers with $805 billion in combined assets. The optimism comes at a time when more investors are looking to increase their allocations to private credit next year. This was highlighted by a recent survey by Ernst & Young. According to the report, many private credit managers are taking advantage of this tailwind by expanding into new geographic locations. The report said, “Much of this growth is being led by the private equity market, which continues to spearhead private credit’s expansion into new markets. This development is likely to prove valuable for the European and Asian economies as they seek to diversify the sources of financing available to borrowers.”

Finsum:Due to an increase in interest from investors, private credit managers are optimistic about their business prospects heading into the new year. 

Bond. James B….. Well, no, not exactly. However, for the first time in 10 years, investors are gaining value in bonds,  according to JPMorgan Chase & Co.’s Bob Michele, as quoted on Bloomberg, reported zacks.com. That’s unfolding in the light of higher interest rates making fixed income more of a financial boon.

“Every wealth-management platform in JPMorgan, every institutional client -- they’re coming to us, they’re putting money in bonds,” Michele told host David Westin. “Bonds are back.” iShares 1-3 Year Treasury Bond ETF (SHY Quick QuoteSHY – Free is off 5.2% this year while the S&P 500 has lost about 17.2%.

Someone say double duty? They address steepling interest rates as well as yielding healthy current income. In the midst of a tumultuous year, this ETF’s proven relatively resilient.

For those who feast on bonds, a handful of potentially winning ETF strategies are highlighted below:

• High-yield interest-hedged ETFs
• ProShares High Yield-Interest Rate Hedged ETF
• Convertible Bond ETFs
• First Trust SSI Strategic Convertible Securities ETF
• Senior Loan ETFs
• TIPS ETFs
• Floating Rate Bond ETFs
• Short-Term Cash-Like ETFs

Meantime, for the period concluding November 30, 2022, the distribution amounts per security (the "Distributions") for certain of its exchange traded funds, recently was announced by Horizons ETFs Management (Canada) Inc., according to finance.yahoo.com.

Want to mix with the big boys, eh? Well, you can partake in an approach to investing that, previously, institutional or ultra-high-net-worth investors alone had access to, according to Kiplinger.com.

Today, more investment firms offer “personalized” or “direct” indexing to Main Street investors. Typically, the trend, controversial though it might be, compels buying and trading stocks directly – a mirror image of an index. With cost conscious index investors squarely on their radar,  smart supercomputer programs and the ability to buy fractions of shares, at least three firms—Fidelity, Schwab and Wealthfront—are repackaging the service, a climate aided by no commission trading.

Meantime, earlier this month, as part of an industry trend, Morningstar became the latest company to launch a direct indexing investment offering, according to thinkadvisor.com.

And in the landscape of firsts, Morningstar Direct Indexing’s has its mojo; it’s one of Morningstar Wealth’s maiden major product launches. The indicated that, to begin with, direct indexing portfolios will be available the Morningstar Wealth Platform.

“Advisors are looking for ways to meet client interest in new investment options, particularly those that allow customization and personalization,” Daniel Needham, Morningstar Wealth president, said in a statement.