Lincoln Financial: FIA World Now A ‘Long Bore Through A Hard Board’
May 6, 2016 by Cyril Tuohy
The CEO of a large variable annuity seller said Thursday he expects VAs will have a market advantage in dealing with the Department of Labor’s fiduciary rule now that fixed indexed annuities were also added to the best interest contract standard.
Lincoln Financial, the No. 3 seller of variable annuities in the U.S. last year, may broaden its share of the retirement fund market because of an exemption attached to the rule issued last month, said Dennis R. Glass, president and CEO of Lincoln National Corp.
“It may prove out that our distribution partners may need to trim shelf space and focus on fewer, higher quality companies, which I believe would be an advantage to Lincoln over the long term,” Glass said. Click HERE to view the full articles. INN news articles may require a subscription to view
