The Hartford Financial Services Group recently repaid the $3.4 billion in federal aid (TARP funds) it received during the financial crisis.

The company also suggested that it will avoid any business, product line and risk concentration in the future.  Hartford suffered from heavy exposure to the variable annuity business.

The company will now operate with three broad business units: consumer markets; commercial markets, and; wealth management.

Source: Investment Advisor

BofA Merrill is focused on recruiting more of its existing corporate customers to its retirement planning business.

Reuters reports that the brokerage firm has recently formed three new teams of advisors what will focus on serving the retirement plans of Bank of America's current corporate and investment banking clients.

Bank of America is positioning itself to capitalize on perceived opportunities in the retirement planning market.

Bank of America's acquisition of Merrill Lynch creates a number of new and interesting cross-selling opportunities.

The head of BofA's wealth management and brokerage operations, Sallie Krawcheck, has identified retirement as a growth driver for the company.

Source: Financial Planning Magazine

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A recent Wall Street Journal article discusses the renewed focus on conservative and rather boring investment options among the wealth management community.

In the wake of extreme capital market volatility during the past couple of years, wealth managers have returned to basics in their discussions with current and prospective clients.

Among the more mundane options that are frequently discussed are:

What is the probability that a given level of spending is realistic or “sustainable” throughout one’s retirement?

Stated differently, what is the likelihood that a given level of retirement spending is fraught with longevity risk and will result in financial ruin—with ruin defined as the depletion of assets during one's lifetime?

A responsible or sustainable level of retirement spending is a fundamental financial planning exercise and should serve as a starting point for considerations of whether and how one might use an annuity.

A recent article from Wall Street Journal columnist Leslie Scism discusses the value that has been preserved and delivered over the past several years by variable annuities and living benefits.

Despite intense media criticism and generally negative perceptions among financial advisors, variable annuities have been among the best wealth management vehicles of the past decade.

Two industry-leading consultants have published a study that compares a range of wealth management strategies that are available to individuals in retirement.

None of the strategies are dominant on an overall basis, but certain approaches show clear strengths in terms of income generation, levels of wealth, and the impact on bequest motives.

The dramatic impact of product fees is also addressed.

Six different retirement strategies are discussed:

Sheryl Garrett is the founder of the Garrett Planning Network.

The Garrett Network consists of approximately 300 financial advisors who provide services on a fee-only basis and act as fiduciaries.

Read on to understand how and why the Garrett Network seeks to make objective, competent financial planning services widely available.

Annuity Digest: Why would your everyday consumer of financial services be interested in The Garrett Network—what is the basic value proposition?