Genworth Financial Wealth Management Inc. has published Crossing the Sea, a book that uses sailing and rowing as metaphors for aggressive and conservative investment strategies.
Mark Schoenbeck, chief marketing officer at Genworth Financial Wealth Management, Pleasant Hill, Calif., a unit of Genworth Financial Inc., Richmond, Va. (NYSE:GNW), says he hopes financial professionals can use the book to start conversations with clients about investment risk.
The book describes one couple that sails across the sea, a couple that rows across the sea, and a couple that sails in good weather and rows in bad weather.
Advisors already have ordered about 800 copies of the book, Genworth says.
In other insurance publication news:
- Minnesota Mutual Companies Inc., St. Paul, Minn., which operates as Securian Financial Group, has published a commentary on use of target-date funds in retirement plans at http://www.securianretirementcenter.com
Investment allocations in target-date funds are supposed to become more conservative as investors approach their anticipated retirement date. But, when the stock market fell in 2008, some target-date funds turned out to be riskier than employers and employees had expected.
Kent Peterson, Securian Retirement’s investment services director and the author of the paper, suggests that target-date funds should be held to the same standards as other options on a plan’s investment menu.
Plan sponsors should, for example, hold the underlying funds in a target-date fund to the same standards that apply to stand-alone investment options, Peterson writes.