DOL Fiduciary Rule Would Slam Variable Annuities, Credit Suisse Says

July 20, 2015 by John Hilton

The Department of Labor’s proposed fiduciary rule will disproportionately harm financial firms that deal significantly in variable annuities, according to Credit Suisse analysts.

In a July 12 research note, Credit Suisse singles out Lincoln National, Prudential Financial and Aegon as three firms for which VAs have been “an important driver of earnings growth.”

VA sales from qualified accounts are “most vulnerable,” the note said. “We believe the value proposition will be a harder argument to make under the new standards.” Click here to read…

Originally Posted at InsuranceNewsNet on July 17, 2015 by John Hilton.