Products May 15, 2008

Genworth Introduces Guaranteed Income Annuity for Managed Accounts

AssetMark Investment Services, Inc., and Genworth Life and Annuity Insurance Company introduced LifeHarbor, a group guaranteed income annuity product.
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A release from Genworth said LifeHarbor helps protect an investor’s retirement plan by providing an income guarantee while allowing investors to remain invested in a mutual fund or exchange-traded fund (ETF) portfolio on AssetMark’s managed account platform. Both companies are subsidiaries of Genworth Financial, Inc.

Through LifeHarbor, investors will receive income for life, even if the markets have depleted their portfolio below the specified account minimum by participating in a group annuity that will guarantee income for life beginning at age 65. Purchasing LifeHarbor today, a 65-year-old investor may withdraw up to 5% of their account value annually. In addition, the income guarantee may increase, subject to certain conditions, the company said.

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“The concept of taking an insurance guarantee and adding it to a managed account product is at the forefront of our industry,’ said Ronald Cordes, Chairman of AssetMark Investment Services. “Investors get the best of both worlds—the income stream from the insurance guarantee and the disciplined investment approach with our managed account product.’ AssetMark has partnered with independent broker/dealers to sell this new product through their advisers.

“We think this is a revolutionary new investment product that is clearly the next step in the evolution of managed account solutions,’ said James Poer, Senior Vice President of National Financial Partners, an independent distributor of financial services products.

The minimum investment for an AssetMark account with LifeHarbor is $50,000 for a mutual fund investment model and $100,000 for an ETF investment model.

A prospectus can be obtained by calling 1.866.447.2530 or going to www.genworth.com/LifeHarbor.

Data & Research May 15, 2008

Jacob, Emily Most Popular Baby Names – Again

Looks like Jacobs and Emilys are going to have a lot of company on the playground, according to an annual report of most popular baby names.
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Continuing a Mother’s Day tradition, the Social Security Administration has published a list of the nation’s most popular baby names for 2007. Once again Emily, which has topped the list of most popular girl’s names since 1996, tops the list. Jacob, which has been the most popular name for boys since 1999, retains its spot atop the list. Jacob was also popular as one of the two most popular twins names – along with Joshua.

If there wasn’t much change at the top, there were nonetheless some interesting developments further down the list. According to a press release, the 2007 success of popular race car driver Danica Patrick undoubtedly inspired her first name moving from number 352 to number 307. And how else can you explain the surge in popularity of JaMarcus (from number 914 to number 743 on the boys’ list), aside from its association with JaMarcus Russell, the first pick in the 2007 NFL draft. Miley is new to the girls’ list this year, entering fairly high at number 278, attributable to the popularity of teen sensation Miley Cyrus (we’ll see how that holds up in 2008).

“Maiden” Distress?

For reasons likely to puzzle baby name experts (and non-baby namers) around the world, American parents have become infatuated by names, particularly for their sons, that rhyme with the word “maiden.” These names for boys include:

Jayden (No. 18); Aiden (No. 27); Aidan (No. 54); Jaden (No. 76); Caden (No. 92); Kaden (No. 98); Ayden (No.102); Braden (No.156); Cayden (No.175); Jaiden (No.191); Kaiden (No. 220); Aden (No. 264); Caiden (No. 286); Braeden (No. 325); Braydon (No. 361); Jaydon (No. 415); Jadon (No. 423); Braiden (No. 529); Zayden (No. 588); Jaeden (No. 593); Aydan (No. 598); Bradyn (No. 629); Kadin (No. 657); Jadyn (No. 696); Kaeden (No. 701); Jaydin (No. 757); Braedon (No. 805); Aidyn (No. 818); Haiden (No. 820); Jaidyn (No. 841); Kadyn (No. 878); Jaydan (No. 887); Raiden (No. 931); and Adin (No. 983).

This trend was present, but less pronounced, with girls names: Jayden (No. 172); Jadyn (No. 319); Jaden (No. 335); Jaiden (No. 429); Kayden (No. 507); and Jaidyn (No. 561). Comfortingly, Social Security spokesman Mark Lassiter indicated that the agency would resist any legislative efforts to standardize the spelling of these names.

Spirit Moving

Experts (and amateurs) also may be surprised by the extent to which American parents are naming their daughters after spiritual and philosophical concepts. One of the most popular names for girls (rising this year to number 31) is Nevaeh, which is “Heaven’ spelled backwards. On the other hand, “Heaven’ (spelled frontwards) is number 263 on the list. The boys list included Sincere (No. 622) and….believe it or not, Messiah (No. 723).

The Social Security website offers lists of baby names for each year since 1880. Social Security started compiling baby name lists in 1997. The full list(s) are online at http://www.socialsecurity.gov/OACT/babynames/

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Top Names for 2007

Boys:Girls:

1) Jacob

2) Michael

3) Ethan

4) Joshua

5) Daniel

6) Christopher

7) Anthony

8) William

9) Matthew

10) Andrew

1) Emily

2) Isabella

3) Emma

4) Ava

5) Madison

6) Sophia

7) Olivia

8) Abigail

9) Hannah

10) Elizabeth

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