Final fiduciary rule: the benefits and burdens for indexed annuities
April 12, 2016 by ROBERT BLOINK, WILLIAM H. BYRNES
The final version of the recently released Department of Labor (DOL) fiduciary rules contained some changes to the rules governing fixed annuity products that may have surprised some advisors who deal in these products. Certain types of fixed annuities will now be subject to the heightened — and potentially costly — fiduciary standards that many expected to impact only variable annuity products — meaning that advisors who sell these products will now be subject to the heightened “best interests” standard, rather than the traditionally applicable suitability standard. Fortunately, because the DOL appears to have recognized the potential difficulties that advisors may encounter in implementing the new requirements, the final version of the rules contains several provisions that could potentially ease the compliance burdens that these changes may generate. Click HERE to read more….
