IMOs take on enhanced sales role under the new DOL rule
August 15, 2016 by Arthur D. Postal
WASHINGTON — An historic reluctance to deal with federal regulators is apparently slowing the ability of the insurance industry to properly comply with the Department of Labor’s new fiduciary standard as of the April 2017 deadline.
At stake is the ability of independent agents to maintain the current momentum of hot-selling fixed index annuities(FIAs) into retirement accounts.
According to Jason L. Smith, CEO and founder of Clarity 2 Prosperity, the DOL goal is to establish independent marketing organizations (IMO)s with the appropriate vehicle for distribution of such retirement products as FIAs into investment accounts. Clarity 2 Prosperity is based in Cleveland.
Click HERE to view the full story. LifeHealthPro articles may require free registration to view
