FMOs Have Options to Comply With DOL Rule
June 30, 2016 by Cyril Tuohy
It’s going to be a busy month of July for managers with field marketing organizations (FMOs), as they seek to chart a future direction for their companies following new federal regulations designed to protect investors in the retirement market.
Under the new Department of Labor fiduciary rules issued in April, FMOs were denied the authority to certify whether an insurance sale was in the best interest of a policyholder. That has led many industry experts to wonder how agents will continue selling life and annuity products.
Unlike insurance companies, banks, broker-dealers and registered investments advisors (RIA), which are overseen by state insurance departments or the U.S. Securities and Exchange Commission, FMOs are not regulated. Click HERE to view the full article… INN news articles may require a subscription to view
