Interesting News from the DOL
{October 31st, 2016} by Sheryl J. Moore
Dozens of Field Marketing Organizations (FMOs) and Brokerage General Agencies (BGAs) have been contacting me since the Department of Labor’s (DOL’s) final fiduciary rule was issued; wanting to know how they too can apply to become a ‘Financial Institution.’ In response, I reached back out to my folks at the DOL, asking for their guidance. […]
DOL Rule Impacts Far More Than Advisors’ Pay
{October 29th, 2016} by Kerry Petcher
Although some financial services companies are still stuck in one of the first four stages of grief (denial, anger, bargaining and depression) over the Department of Labor’s fiduciary rule, a few companies are already well into the fifth stage—acceptance—and have tweaked their businesses to fit the new normal. Attorneys from three firms in the latter […]
China Oceanwide May Regret Genworth Lifeline
{October 27th, 2016} by Nisha Gopalan
Another day, another Chinese acquisition of an insurance company in the U.S. Struggling with ultra-low interest rates that have hammered investment income, Genworth Financial, one of America’s top sellers of long-term care cover, needs the cash. And China Oceanwide seems happy to fork out $2.7 billion. However, the investment firm, whose U.S. forays have so far […]
China Oceanwide Joins Spree With $2.7 Billion Genworth Bid
{October 27th, 2016} by Bloomberg news
China Oceanwide Holdings Group Co. has agreed to purchase Genworth Financial Inc. in a $2.7 billion cash deal, joining a record buying spree by Chinese companies as they seek to boost growth overseas. Monday’s deal by Chinese billionaire Lu Zhiqiang’s real estate and finance company is its largest yet, according to data compiled by Bloomberg. Genworth, with […]
Genworth’s would-be buyer helped build modern China
{October 27th, 2016} by Allison Bell
Lu Zhiqiang, the head of the Beijing-based company that has agreed to pay cash for Genworth Financial, has had decades of experience with complicated projects that involve delicate negotiations with government officials. Securities analysts on a conference call Monday asked executives from Richmond, Virginia-based Genworth Financial about how they would get a major component of […]
China’s Big Insurance Buy Leaves Lots of Risk
{October 27th, 2016} by Anjani Trivedi
A Chinese knight in shining armor has come to the rescue yet again. But it may not have made things safe for investors. In the latest outbound Chinese deal, conglomerate China Oceanwide Holdings agreed to buy New York-listed insurer Genworth Financial for $2.7 billion in cash, paying a 4.2% premium to the current stock price. […]
Advisors Excel adds services, partners with Jones Advisory Group
{October 27th, 2016} by Morgan Chilson
Advisors Excel has expanded services to reach broader markets in a move one founding partner said will be a “huge growth area over the next two to three years.” The company announced the formation of AE Wealth Management Thursday, a Securities and Exchange Commission-registered investment advisor firm offering annuities, life insurance, and securities. Cody Foster, […]
Illinois Courts: Fixed Indexed Annuities Are Not Securities
{October 27th, 2016} by Jason Brost / Carlton Fields
In 2009, the Securities and Exchange Commission (SEC) attempted to regulate fixed indexed annuities (FIAs) as securities by issuing Rule 151A. Previously, FIAs were treated as exempt insurance products. After the D.C. Circuit vacated Rule 151A, the issue was largely resolved, for federal law purposes, by the Dodd-Frank Act, which, generally, clarified that FIAs that […]
DOL’s Borzi: First Fiduciary Rule FAQs to Focus on BICE
{October 27th, 2016} by Melanie Waddell
The Department of Labor plans to start rolling out “very soon” its frequently-asked-questions guidance on its fiduciary rule, Phyllis Borzi, assistant secretary of Labor for DOL’s Employee Benefits Security Administration, said Tuesday. The first “wave” of FAQs will answer a “couple dozen” questions on the rule’s exemptions, including the best interest contract exemption, Borzi told […]
A.M. Best Affirms Credit Ratings of Jackson National Life Insurance Company and Its Affiliates
{October 26th, 2016} by AM Best
FOR IMMEDIATE RELEASE OLDWICK – OCTOBER 26, 2016 A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” of Jackson National Life Insurance Company, its wholly owned subsidiary, Jackson National Life Insurance Company of New York (together known as JNL) and its direct parent, Brooke Life […]
Lincoln Financial Network Advisors Qualify for Women in Insurance & Financial Services (WIFS) Circle of Excellence
{October 26th, 2016} by Lincoln Financial Advisors
PHILADELPHIA–(BUSINESS WIRE)–Fifteen registered representatives of Lincoln Financial Network have qualified for Women in Insurance & Financial Services’ (WIFS) 2016 Circle of Excellence, a WIFS award program recognizing members who have achieved significant success in the insurance and financial services industry. “We are very proud to have so many Lincoln Financial Network advisors included in this […]
Why — and how — advisers should talk to clients about juvenile life insurance
{October 26th, 2016} by Pam Jenkins
You probably have no trouble talking to your clients about including life insurance in their employee benefits package. After major medical coverage, it’s one of the most important building blocks in an employee’s financial protection platform. And offering voluntary life insurance through the workplace lets your clients offer a simple, convenient and affordable way for […]
Bo Johnson Spirit Award for Lifetime Achievement
{October 26th, 2016} by NAFA
Bo Johnson Spirit Award 2016 Recipient is Dr. Jack Marrion WASHINGTON D.C. (Oct. 26, 2016) — NAFA, the National Association for Fixed Annuities, announced Dr. Jack Marrion as the recipient of its 2016 Bo Johnson Spirit Award for Lifetime Achievement at its eighth annual Annuity Distribution Summit this month. The award recognizes courage, spirit and […]
Fitch Affirms Fidelity & Guaranty Life’s IFS Rating; Removes Rating Watch Evolving
{October 26th, 2016} by Fitch Ratings
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed the Insurer Financial Strength Ratings (IFS) for the life insurance subsidiaries, Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York (collectively F&G Life) at ‘BBB’. The IFS ratings were taken off Rating Watch Evolving and a Stable Outlook has been assigned. Fitch […]
Divorce Is Destroying Retirement
{October 26th, 2016} by ThinkAdvisor
Divorce in the U.S. surged in the 1970s and 1980s as the baby boomers reached adulthood. As they enter retirement, they’re still splitting up, and it’s having a disproportionate effect on women. Even as divorce rates for younger Americans have fallen, failed marriages among people over 50 doubled from 1990 to 2010, according to Bowling Green State University’s National […]
5 ways the new Department of Labor rule is a positive for the annuity industry: OPINION
{October 26th, 2016} by Stan Haithcock
As many in the annuity industry continue to lament the coming implementation of the recent Department of Labor (DOL) ruling, the end result will actually be a positive for the annuity category. Simplicity will rule once again The original annuity design for pension-type income was very simple and an easy-to-understand transfer of risk strategy. Most […]
Ameriprise Financial Reports Third Quarter 2016 Results
{October 26th, 2016} by Ameriprise
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today reported third quarter 2016 net income(1) of $215 million, or $1.30 per diluted share. Operating earnings were $227 million, with operating earnings per diluted share of $1.37. Excluding the non-cash impact of annual unlocking(2) in both periods, operating earnings per diluted share increased 4 percent to $2.29 with […]
18 Insurance Marketers Apply For DOL Exemption
{October 25th, 2016} by Cyril Tuohy
Eighteen independent marketing organizations have applied for a special exemption to sell fixed indexed annuities under the Department of Labor’s fiduciary rule, records show. The rule takes effect beginning in April. The exemption would grant the marketing organizations “financial institution” status. This would allow agents under contract with the marketing organizations to sell commission-based FIAs. […]
IMOs Dance With DOL On Fiduciary Rule Deadline
{October 25th, 2016} by John Hilton
Futurity First Financial is proceeding as though it will be granted “financial institution” status by the Department of Labor, enabling it to do business under new fiduciary rules. But time is running short for the independent marketing organization to make a seamless transition, said Futurity CEO Mike Kalen. Futurity owns three IMOs and, with $2.5 […]
Graphic Novels Excite Students to Read!
{October 25th, 2016} by Wink's RockStars
Wink’s CEO, Sheryl J. Moore believes that getting students excited about reading can change their lives. Her son, A.J. Betts loved reading graphic novels, a book made up of comics content, and so does Mrs. Tully Lahmann’s class. Mrs. Tully Lahmann commented “I brought in a couple of my son’s and the kids went crazy. […]
Glass half full: seismic shifts in the life insurance industry: Opinion
{October 25th, 2016} by Arthur D. Postal
It is not coincidental that LIMRA recently released a study indicating that 30 percent of U.S. households lack life insurance coverage at the same time that MetLife announced its decision to spin off its sputtering life insurance business. This was a landmark decision. MetLife started out as a life insurance firm in 1860, but it […]
A cut above: Life insurance ownership among African-Americans
{October 25th, 2016} by Warren S. Hersch
There’s been much hand-wringing over the historically low levels of life insurance ownership. Yet there are some bright spots in the individual life insurance market. One among them: middle-class African-Americans. According to the industry group LIMRA, about 6 in 10 middle-market African-American adults own life insurance. That compares to just 46 percent of all adults […]
Voya Financial and American College Partner to Enhance Diversity and Inclusion in Financial Services
{October 25th, 2016} by Voya Financial, Inc.
NEW YORK, Oct. 25, 2016 /PRNewswire/ — Voya Financial, Inc. (VOYA), announced today that it has awarded its third and fourth scholarships to veterans and/or their spouses seeking to further their careers in financial services. In partnership with the American College of Financial Services, the scholarships are designed to support veterans and to create a more […]
China Oceanwide to Acquire Genworth for US$2.7 Billion
{October 25th, 2016} by Iris Lai
RICHMOND, Va. – China Oceanwide Holdings Group Co. Ltd. has agreed to acquire all of the outstanding shares of Genworth Financial Inc. for US$2.7 billion. China Oceanwide, a private and family owned international financial holding group, will pay US$5.43 a share in cash for Genworth. As part of the transaction, China Oceanwide will contribute about […]
China Oceanwide agrees to pay $2.7 billion for Genworth
{October 25th, 2016} by Allison Bell
China Oceanwide Holdings Group Co. Ltd. has agreed to pay $5.43 per share in cash for Genworth Financial. Completing the deal would give Genworth — a Richmond, Virginia-based seller of long-term care insurance, mortgage guaranty insurance and annuities — a value of about $2.7 billion, Genworth said Sunday. China Oceanwide, a family-owned, Beijing-based real estate […]
Genworth needs Delaware regulators’ blessing, analysts say
{October 25th, 2016} by Allison Bell
Genworth Financial’s ability to chart its own course may depend on its ability to persuade insurance regulators in Delaware to approve an acquisition offer from China Oceanwide Holdings Group Co. Ltd. Securities analysts asked about Delaware insurance regulators several times today during a conference call Genworth held to discuss the offer. China Oceanwide, a Beijing-based […]
MetLife Fights ‘Too Big to Fail’ Label in DC Circuit
{October 25th, 2016} by Zoe Tillman
The collapse of AIG during the financial crisis eight years ago hung over arguments in a federal appeals court on Monday about the government’s designation of insurance giant MetLife as a “systemically important financial institution”—too big to fail, in laymen’s terms. That designation by the Financial Stability Oversight Council triggered increased government oversight and regulation […]
DOL rule: Ex-NAIFA chief readies practice for the new regime
{October 25th, 2016} by Warren S. Hersch
Much of the current discussion about the Department of Labor’s conflict of interest rule is focused on the pending burdens: how much the new regulations will cost in education and training, needed changes to business processes, and other new compliance requirements. These are coming down the pike, but so too are opportunities to grow one’s […]
Insurance think tank forecasts more mergers, political gridlock
{October 25th, 2016} by Warren S. Hersch
Whoever wins the White House in November, relations between the major political parties in Washington may be as combative as ever, as neither Democrats nor Republicans are likely to secure control of both houses of Congress. That will make it difficult to enact long-stalled legislation on major national issues. The source of this dismal forecast: […]
Voya launch aims to improve retirement outcomes
{October 25th, 2016} by Warren S. Hersch
Surveys abound about Americans’ woefully inadequate retirement savings. The reasons for the discrepancy between what workers save and what they need to live comfortably in retirement include: Low plan enrollment; Inadequate plan contribution rates and portfolio allocations; and A lack of active engagement by employers in helping to put workers on the right track. On […]
Here’s How Annuities Can Provide a Needed Income Insurance Policy
{October 25th, 2016} by Stan Haithcock
With a demographic tidal wave of more than 10,000 baby boomers retiring every day, a new growth industry will be income insurance sales. People are living longer, and the need for guaranteed lifetime income to supplement Social Security payments will be a must for most Americans. Home, Car, Health … Income? In order to […]
How to avoid mansplaining
{October 25th, 2016} by Miriam Rozen
After watching the presidential debates, Ross Gerber took note of teaching moments for his male trainees. No matter the outcome of the election, the divisive rhetoric and poor communications between the two candidates has demonstrated how problematic “mansplaining” can be. Mansplaining isn’t limited to political discourse. And that practice — where a man explains something […]
Millennials told JPMorgan they want to retire by 60, but they’re in for a rude awakening
{October 24th, 2016} by Bob Bryan
Millennials are way too bullish on their financial future. On Tuesday, JPMorgan Chase released a study about the savings trends of millennials as opposed to baby boomers. Among other details, the survey found that millennials started saving for retirement at 23 and that 82% of millennials are comfortable about talking about money. Another interesting snippet caught our […]
Riskalyze and AmeriLife® Form Partnership Bringing DOL Compliant Technology to Annuity Producers
{October 24th, 2016} by AmeriLife
SACRAMENTO, CA, October 24, 2016 — /Marketwired/ — Riskalyze and AmeriLife today announced that they are entering into a five-year agreement providing Riskalyze’s Risk Number®technology to AmerifLife’s annuity producers. “While we’ve been very focused on equipping investment advisors to prove and document that they’re acting in the best interests of their clients, it’s clear that […]
Warren Calls for SEC Chair’s Dismissal
{October 23rd, 2016} by Ryan Rainey
Sen. Elizabeth Warren (D-Mass.) on Friday called on President Obama to replace Securities and Exchange Commission Chair Mary Jo White because of the agency’s lack of new disclosure rules under her leadership. “From the beginning of her tenure, Chair White has made clear that she is concerned that companies disclose too much to investors — a presumption […]
Morgan Stanley’s Gorman on DOL: Choice for Clients ‘Is Critical’
{October 22nd, 2016} by ThinkAdvisor
Merrill Lynch (BAC) and Morgan Stanley (MS) frequently go head to head in the wealth-management business, and they (of course) don’t always see eye to eye. Morgan Stanley CEO James Gorman alluded to their divergent approaches to the new Department of Labor fiduciary rule on a call with equity analysts on Wednesday. Gorman was asked […]
FINRA Blasted for Not Fixing ‘Broken’ BrokerCheck
{October 21st, 2016} by Melanie Waddell
The Financial Industry Regulatory Authority has failed to fix serious flaws in brokers’ background information provided on BrokerCheck, and Congress should step in if changes aren’t implemented soon, the Public Investors Arbitration Bar Association charges in a new report. PIABA, a group of lawyers who represent investors in cases against securities firms, maintains that FINRA […]
How to Invest in Annuities
{October 21st, 2016} by U.S. News
Despite sometimes getting a bad rap, annuities can form part of a retirement savings strategy to plug potential income gaps not covered by Social Security or a 401(k). The extended period for low-interest rates has created a vacuum of products for retirement as traditional products like bonds and certificates of deposit aren’t paying much yield, […]
The DOL may regulate entertainer Dave Ramsey, but should it?
{October 21st, 2016} by Michael Markey
Today my goal is to prove that the U.S. Department of Labor’s forthcoming fiduciary rule should regulate talk radio show host Dave Ramsey and other finance entertainers like him as fiduciaries. They should be regulated, right? Or would doing so violate Ramsey’s First Amendment right to free speech? As I wrestled with these questions before […]
A Word to the Wise Advisor
{October 21st, 2016} by Kerry Petcher
In a financial world that’s shifting from commissions to fee-based compensation, how will advisory firms deal with the fact that most clients don’t like the word “fees”? As broker-dealers scramble to adapt to the Department of Labor’s new fiduciary rule over the next six months, one challenge will be to teach thousands of advisors how […]
Judge Sets Hearing on Thrivent vs. DOL Lawsuit
{October 21st, 2016} by John Hilton
Judge Susan Richard Nelson scheduled a March 3, 2017 hearing on Thrivent Financial’s request for a preliminary injunction against the Department of Labor fiduciary rule. Filed in U.S. District Court for the District of Minnesota, Thrivent’s 29-page lawsuit claimed the DOL rule will render its dispute resolution mechanism obsolete. Although five other lawsuits have been filed against […]
Good grief! MetLife is dumping Snoopy
{October 21st, 2016} by Paul R. La Monica
MetLife will no longer be using Snoopy, Charlie Brown or any other members of the Peanuts gang in its ad campaigns. The insurance giant said Thursday it was ditching the beloved Charles Schulz characters in favor of a new image that the company claims will reflect “a clean, modern aesthetic.” So instead of a giant […]
No More Snoopy as New MetLife Brand Signals Modern Company
{October 21st, 2016} by Marie Suszynski
NEW YORK – With the spinoff of its retail business in the works, MetLife Inc. is launching a new global brand platform that will be missing a few key characters from its ads and marketing over the last 30 years: Snoopy and the Peanuts gang. Instead, the 150-year-old company will have an updated logo and […]
4 versions of the Best Interest Contract Exemption
{October 20th, 2016} by Nick Thornton
During a comprehensive presentation on the Department of Labor’s fiduciary rule, attorney Marcia Wagner called the regulation “the most significant and groundbreaking rulemaking to ever emerge” from the DOL. The advisors and stakeholders endeavoring to adapt to the massive rule are likely in agreement with Wagner, founder of Boston-based The Wagner Law Group, a firm specializing […]
Lafayette Life Enhances FIA
{October 19th, 2016} by Lafayette Life Insurance Company
CINCINNATI — Oct. 17, 2016 — The Lafayette Life Insurance Company, a provider of whole-life insurance, annuities and retirement plans, announced today that it has enhanced its Marquis® SP, a single-premium, deferred, fixed indexed annuity. Lafayette Life has added one- and two-year, point-to-point allocation options associated with the GS Momentum Builder® Multi-Asset Class (GSMAC) Index, […]
INN’s Women in Insurance Leadership: Profiles in Innovation
{October 19th, 2016} by Nathan Golia
As Insurance Networking News’ Women in Insurance Leadership program enters its second decade, digitally focused consumers are transforming the industry more than ever. That shift has been a defining factor in many of this year’s honorees’ careers. From launching entire new units devoted to data and analytics, to leveraging the full power of digital technology for […]
Your Simple 3-Step Process to Selling Life Insurance
{October 19th, 2016} by Christopher P. Hill
One of the biggest challenges most financial professionals face is helping clients (and prospects) truly understands life insurance. The harsh reality is that life insurance is a very complicated, misunderstood, and often overlooked piece of a comprehensive financial plan. The best solution I found is to make this difficult discussion an educational process – versus a […]
How to manage 11 different life insurance beneficiary issues
{October 19th, 2016} by Stephan R. Leimberg
A policyholder can — and should — name more than one beneficiary. A planner is derelict in duty if the policyholder is not told of the privilege and advantages of naming both a primary beneficiary, which can be more than one person or entity, and one or more contingent or secondary beneficiaries. The primary beneficiary is the […]
John Hancock Launches Industry-First Survivorship Life Insurance With The John Hancock Vitality Solution
{October 19th, 2016} by Manulife Financial Corporation
BOSTON, MA (October 18, 2016) – John Hancock Insurance announced today that the John Hancock Vitality solution, a new approach to life insurance that enables policyholders to save money and earn rewards for healthy living, has been added to its first survivorship (‘two person‘) life insurance policy, Protection Survivorship Indexed Universal Life (SIUL). This new […]
Life insurers focus on interaction to improve customer satisfaction: Study
{October 19th, 2016} by IFAwebnews Staff
Life insurers are focusing their efforts on interaction as a way to satisfy their existing life insurance customers and attract new ones, according to the J.D. Power 2016 U.S. Life Insurance Study. While overall satisfaction makes a modest 1-point improvement to 771 on a 1,000-point scale in 2016, compared with 2015, customer satisfaction with their […]
Thrivent suit against DOL pits ERISA vs. Federal Arbitration Act
{October 19th, 2016} by Nick Thornton
A sixth lawsuit against the Department of Labor, brought by Thrivent Financial for Lutherans, is not trying to block the fiduciary rule. In fact, the lawsuit, unlike the other claims against the DOL, does not even challenge the “validity” of the rule, according to Thrivent’s complaint. Thrivent is a non-profit fraternal benefit society that provides financial […]
The future of insurance: A look at the risk landscape of 2025
{October 18th, 2016} by Debbie Michel
Over the next decade, the insurance and third-party administrator landscape will continue to evolve. And while it is impossible to predict the top challenges that will face risk buyers, intermediaries, TPAs and insurers so far into the future, it is interesting to gaze into the crystal ball. This was the topic of a panel discussion I […]
Fiduciary rule causing some advisers to reconsider comp models
{October 18th, 2016} by Andrew Shilling
ARLINGTON, Va. – Advisers prepare for the worst as they anticipate clarification on the fiduciary rule and its possible impact. With less than six months before the DoL begins to implement its rule in April, advisers still have questions about how they will sell products as well as market themselves to prospective clients, said Mike […]
Detailed commission information on all indexed annuities.
{October 18th, 2016} by Wink's RockStars
We have received reports that insurance companies are engaging expensive consulting and actuarial firms, in order to obtain compensation information on indexed annuities, so that they can perform their due diligence in regards to “reasonable compensation.” GREAT NEWS FOR YOU!! You (your employer) are likely already paying for a resource that houses detailed commission information […]
ACLI Attorneys Ready for Legal Challenge Against DOL Fiduciary Rule
{October 18th, 2016} by Frank Klimko
WASHINGTON – Attorneys for the American Council of Life Insurers are preparing for oral arguments next month in a lawsuit that questions the legality of the U.S. Department of Labor’s fiduciary rule update, which they say will upend the retirement advice industry. “We are in the early days in an important piece of litigation in […]
Retirees’ Social Security COLA raise in 2017: $3 a month?
{October 18th, 2016} by Jennifer Oppenshaw
It’s surprising that even though this year’s presidential candidates are over 65 — making them the oldest major party nominees in our nation’s history — we haven’t heard more about Social Security in the debates. Americans, like my own 74-year-old mother, are wondering exactly what Donald Trump and Hillary Clinton’s plans are. In the meantime, […]
DOL: Fiduciary Rule May Lead To Fewer Annuity Recommendations
{October 18th, 2016} by John Hilton
The Department of Labor filed a lengthy response Friday to the original lawsuit challenging its controversial fiduciary rule. Initially filed by the U.S. Chamber of Commerce in Dallas federal court, the lawsuit later was consolidated with two similar challenges. The DOL brief cites 88 lawsuits, along with 11 statutes, seven regulations, and 19 different acronyms. […]
Joining the M&A bandwagon: Penn Mutual to acquire Vantis Life
{October 18th, 2016} by Warren S. Hersch
Coveting new markets and distribution channels, mergers among life insurers are continuing apace. The latest manifestation of the deal-making is an agreement, announced on October 10, by The Penn Mutual Life Insurance Co. to acquire Vantis Life Insurance Co. Once finalized, Vantis Life will become a wholly-owned affiliate of Penn Mutual, a Horsham, Pa.-based mutual […]
Dealing with universal life premium increases
{October 18th, 2016} by Ed McCarthy
It’s hard to find any good news in the recent spate of premium increases for older universal life (UL) policies. Policyholders face difficult decisions they didn’t anticipate when they bought the insurance. Advisors must explain to clients why their policies are at risk, and seek possible solutions. And, insurers seeking rate hikes are experiencing bad […]
Analyst: Some Firms Want to Keep Trips, Incentives
{October 18th, 2016} by John Hilton
Most industry professionals consider the Best Interest Contract Exemption (BICE) the most detested part of the Department of Labor fiduciary rule. Yet some of them may end up using it to continuing selling fixed annuities without interruption, according to one analyst. Selling under the BICE will enable financial institutions to continue offering trips and other […]
Voya falls most in 14 weeks as CFO leaves for role at S&P Global
{October 18th, 2016} by Katherine Chiglinksky
Voya Financial Inc. slumped the most in 14 weeks after announcing the departure of Chief Financial Officer Ewout Steenbergen, who will take the CFO role at S&P Global Inc. The insurer tumbled 3.9 percent to $29.70 at 10:27 a.m. in New York Thursday, extending its decline for the year to 20 percent. Voya said after […]
Do You Hate Annuities? Here’s Why You Might Want to Change Your Mind
{October 18th, 2016} by Stan Haithcock
Even the savviest stock market trader needs a guaranteed income stream to cover basic expenses and future retirement goals. So it might be time to hold your nose and objectively consider how some types of annuities can provide a contractual income floor. Many consumers and a large number of investment advisers are totally uninformed, […]
Beware Of The Annuity Illustration Optical Illusion
{October 18th, 2016} by Jeff Rose
Recently, I had a long talk with about annuities with my Director of Financial Planning at Alliance Wealth Management, Andrew Rogers. Funny thing is, the entire conversation started with me sharing a story about a crappy, overrated hotel my wife and I stayed in. The gist of that story is this: A few months ago, […]
Insurance Groups: NAIC Big Data Panel Proposed Charges Are Too Broad
{October 18th, 2016} by Thomas Harman
WASHINGTON – Insurance industry groups labeled as too broad a National Association of Insurance Commissioners’ panel proposal for the panel to consider additional oversight of big data use by insurers, including having the NAIC become involved in reviewing data models used in underwriting, rating and claims. The NAIC’s big data working group has been exploring […]
2 good reasons to move IRA funds to permanent life insurance
{October 17th, 2016} by Ed Slott
A large IRA sounds good, but it may be too much of a good thing. The larger an IRA balance grows, the greater the retirement debt that will be owed in taxes. The IRA problem If at all possible, debt should be eliminated before retirement. The retirees who are debt-free are proud of that fact. […]
How To Explain Life Insurance Payouts To A Client
{October 15th, 2016} by Ty Stewart
Processing a life insurance claim is about much more than simply going through the steps. It is important to find a balance between the emotional aspect and harsher business nature of the process. The combination of these elements often makes this process complicated to navigate. To help you with this sensitive undertaking, let’s walk through […]
Who Wants to Buy LPL? So Far, One Ex-Broker
{October 14th, 2016} by ThinkAdvisor
Earlier this week, the news broke that LPL Financial (LPLA) was working with Goldman Sachs on a possible sale of the independent broker-dealer, according to Reuters. But equity analysts, such as Steven Chubak of Nomura Securities, said Wednesday thatLPL “comes with too much baggage” for a publicly traded company to consider buying the largest IBD. […]
Dos and Don’ts of Seminar Selling Under DOL Rule
{October 14th, 2016} by John Hilton
Agents who have long relied on free seminars and steak dinners to educate prospective clients will have to tread lightly once the Department of Labor fiduciary rules take effect. The rules impose a fiduciary standard of care on financial advisors dealing with retirement accounts. The DOL says the rules are needed to better protect neophyte […]
Analyst: Brace yourself for a BIG, post-DOL rule revenue dip
{October 13th, 2016} by Warren S. Hersch
A new report from the global management consulting firm A.T. Kearney makes a jaw-dropping forecast: a precipitous, $20 billion dip in industry revenue resulting from the pending phase-in of the Department of Labor’s fiduciary rule. The study, “Why investing will never be the same,” contains other provocative data points. Among them: advisor-switching is accelerating, rising […]
Fixed Indexed Annuity Industry Mortality Study October 2016
{October 13th, 2016} by Ruark Consulting, LLC
Press Release Fixed Indexed Annuity Industry Mortality Study October 2016 Key Observations 1st ever FIA industry mortality study. With the growth in the FIA market, particularly with GLWB features, Ruark has responded to the industry’s demand for what we believe to be the first FIA industry mortality study. FIA mortality experience is […]
Headed by Starr Cos., Insurance Industry Has Spent $64 Million on Candidates, Campaigns
{October 13th, 2016} by Frank Klimko
WASHINGTON – With the general election just weeks away, representatives of the U.S. insurance industry have contributed $64 million to support lawmakers they say they believe can help address some of the insurance industry’s top priorities, like reducing the federal regulatory burden. Contributions this year have already eclipsed the $58 million the industry spent in […]
Thrivent Financial Fires Latest Salvo at Fiduciary Rule
{October 12th, 2016} by Melanie Waddell
Thrivent Financial for Lutherans became the sixth plaintiff to sue the U.S. Labor Department over its fiduciary rule in a complaint that challenges the class action waiver requirement under the rule’s best interest contract exemption. Thrivent’s case, filed in U.S. District Court for the District of Minnesota, takes issue with the Labor Department’s adoption of the […]
Great American Life’s New Fee-Based Annuity Now Available Through Raymond James
{October 12th, 2016} by Great American Insurance Group
CINCINNATI – October 12, 2016 – Great American Life Insurance Company® is pleased to announce that its new, fee-based fixed-indexed annuity with optional guaranteed income rider is now available through financial advisors at Raymond James. The annuity will complement the commissioned-based indexed annuities already on the firm’s platform and provide an additional fee-based option. The […]
List Significant IBD M&A deals
{October 12th, 2016} by Nicholas Yeap
With news of LPL Financial potentially exploring a sale of their business, we look back at some of the biggest IBD merger and acquisition deals over the last few years. Click to View List
DOL fiduciary rule forces Merrill to drop commission IRAs
{October 12th, 2016} by Melanie Waddell
Joining the league of other broker-dealers mulling changes to their businesses in light of the Department of Labor’s fiduciary rule, Merrill Lynch said Thursday that beginning in April, the company will cease offering new advised, or commission-based, brokerage IRA accounts. Merrill plans to encourage its retirement clients to consult with their advisor about whether to […]
Merrill’s fiduciary plan: Commission-based IRAs will be phased out
{October 12th, 2016} by Andrew Welsch
Merrill Lynch will stop offering commission-based retirement accounts among other changes as part of its plans for complying with the Department of Labor’s fiduciary rule, making it the first wirehouse to explain its strategy in detail. Merrill, which is embracing the rule as a positive development for clients, revealed its strategy to the firm’s more […]
Life Insurance Industry a Critical Driver of Economic Growth & Stability
{October 12th, 2016} by The Brattle Group
CAMBRIDGE, Mass., Oct. 12, 2016 — A new report co-authored by economists at global consulting firm The Brattle Group finds that the life insurance industry is a critical driver of economic growth that helps provide stability for the U.S. economy while delivering financial protection to millions of American families, including those most vulnerable to falling […]
Michael Smith Named Chief Financial Officer of Voya Financial; Ewout Steenbergen to Depart the Company for Another Opportunity
{October 12th, 2016} by Voya
WEDNESDAY, OCTOBER 12, 2016 NEW YORK, Oct. 12, 2016 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that Michael S. Smith has been named chief financial officer (CFO), effective Nov. 7. Smith will continue to report to Rodney O. Martin, Jr., Voya’s chairman and chief executive officer (CEO), and serve on Voya’s Executive Committee. Smith, […]
Average Agent Comp For Indexed Annuities At Decade-Long Low
{October 12th, 2016} by Annuity news
Pleasant Hill, Iowa. October 6, 2016- How can one determine what is “reasonable compensation” on an annuity? The Department of Labor issued its final fiduciary rule on April 6, 2016. Among the products that the regulation affects are annuity sales that are funded with qualified monies. Indexed annuities, as a product class, are in the […]
Life insurers nab spots among top 100 global brands
{October 11th, 2016} by Warren S. Hersch
Two major life insurers are ranked among the world’s 100 most valuable brands, according to a new report. Interbrand, a brand consultancy and division of Omnicom, placedAXA SA and Allianz SE in the 46thand 51st positions respectively in its survey, “Best Global Brands Rankings: 2016.” The rankings are based on Interbrand’s analysis of the financial […]
Indexed annuity commission averages 4.6 percent
{October 11th, 2016} by Kristen Beckman
The average street-level commission for indexed annuities was 4.6 percent as of the second quarter, according to Wink Inc.’s sales and marketing report. This is the lowest commission level in a decade. Average commissions were 8.1 percent during the second quarter of 2006 and have fallen steadily since then, according to Wink’s data. Moore Market […]
What happens to incentive trips under the DOL fiduciary rule?: OPINION
{October 11th, 2016} by Kevin W. Mechtley, J.D.
As a compliance consultant with a specialty in the DOL fiduciary rule, I have received the following question a countless number of times: Are agent incentive trips really gone in a post-DOL fiduciary rule world? My answers? Yes. And maybe. As you might expect, this analysis requires a bit of background and some deep diving into DOL’s […]
Penn Mutual and Vantis Life Insurance Companies to Combine
{October 11th, 2016} by Penn Mutual
October 10, 2016 04:00 PM Eastern Daylight Time HORSHAM, Pa.–(BUSINESS WIRE)–The Penn Mutual Life Insurance Company (Penn Mutual) has entered into a definitive agreement to merge with Connecticut-based Vantis Life Insurance Company (Vantis Life), a deal which will expand Penn Mutual’s presence in the life insurance industry by leveraging Vantis Life’s bank-focused distribution model. As […]
AIG sued for $100 million in bonuses by ex-derivatives staff
{October 10th, 2016} by KIT CHELLEL
(Bloomberg) — American International Group Inc. was sued by former staff who say they were denied $100 million in bonuses amid public outrage over derivative trades that crippled the insurer and threatened the stability of global financial markets. Details of the U.K. lawsuit, which was filed in 2014, emerged at a London court hearing Friday. The […]
DTCC to Launch New Fiduciary Insurance Profile Service
{October 10th, 2016} by John Manganaro
Depository Trust & Clearing Corporation (DTCC) is seeking regulatory approval for a new Insurance Profile solution that will facilitate annuity industry compliance with the U.S. Department of Labor (DOL) fiduciary rule. According to DTCC, the Insurance Profile service provides carriers and distributors with a centralized, automated and standardized method to satisfy disclosure requirements under the […]
Voya Financial Certified as a “Great Place to Work”
{October 10th, 2016} by Voya
NEW YORK, Oct. 10, 2016 /PRNewswire/ — Voya Financial announced today that it has been certified by the independent analysts at Great Place to Work® — the global authority on high-trust, high-performance workplace cultures. “Being recognized as a Great Place to Work reflects our commitment to our people and our culture,” said Chairman and CEO Rodney […]
Wading through the BICE paperwork
{October 10th, 2016} by Ed McCarthy
On Sept. 6, Boston-based DALBAR Inc., a financial services market research firm, released a briefing paper, “The Work Behind BICE Paperwork: What You Will Actually Have to Do” (available here). The paper details how the Best Interest Contract Exemption (BICE) provisions within the DOL fiduciary rule create a significant challenge for financial institutions and advisors, […]
What is the “Right Amount” of Life Insurance?
{October 10th, 2016} by Christopher P. Hill
For centuries there has been a great debate over the right amount of life insurance. In fact, if you do a little bit of research on this topic, what you will find a wide variety of professional opinions, books, studies, classes, and theories – all of which claim they have the answer to the million […]
A.M. BestTV: Fiduciary Rule Impacting Variable Annuities, Said A.M. Best Analyst
{October 10th, 2016} by A.M. Best
October 10, 2016 02:11 PM Eastern Daylight Time OLDWICK, N.J.–(BUSINESS WIRE)–In this A.M.BestTV episode, Edward Kohlberg, associate director, A.M. Best, said that the Department of Labor’s looming fiduciary rule changes have a role in the recent shifting of annuity sales. Click on http://www.ambest.com/v.asp?v=annuities1016 to view the entire program. A.M. Best recently released a report that looks […]
Brighthouse Unveils Distribution Strategy
{October 8th, 2016} by Cyril Tuohy
Brighthouse Financial, the new company housing MetLife’s separated distribution units, will simplify its life and annuity product line and sell those products through independent distributors, the company said. Moving the bulk of MetLife’s distribution infrastructure in the U.S. to Brighthouse will turn MetLife into a more nimble life and benefit insurer, the company added in financial filings. It […]
A.M. Best Affirms Credit Ratings of American National Insurance Company and Its Subsidiaries
{October 8th, 2016} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of American National Insurance Company (ANICO) [NASDAQ:ANAT] and ANICO’s subsidiary, American National Life Insurance Company of New York (ANICONY) (Glenmont, NY). The Credit Ratings (ratings) of ANICO have been extended to […]
A.M. Best Removes From Under Review and Affirms Credit Ratings of MetLife Inc. and Its Subsidiaries; Downgrades Credit Ratings of Brighthouse Subsidiarie
{October 8th, 2016} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the Metropolitan Life Insurance Company (MLIC) (New York, NY), General American Life Insurance Company (St. Louis, MO) and Metropolitan Tower Life Insurance […]
The new fiduciary standard’s effect on customer experience
{October 7th, 2016} by Andrew Hellard
Recently, the U.S. Department of Labor (DOL) finalized a new standard broadening the definition of who constitutes a “fiduciary” under the Employee Retirement Income Security Act (ERISA). This controversial move is causing insurance and other financial services brokers to rethink their business models as well as the way they communicate with their customers. Before the new […]
Voices How one adviser coped as Hurricane Matthew bore down: Opinion
{October 7th, 2016} by Carolyn McClanahan
JACKSONVILLE, Fla. – At the age of 5, I experienced the eye of Hurricane Camille. Images are branded in my brain – the dead stray dog flying through the air when my parents let us peek out the window, the large tree that sliced through the neighbor’s home, and long lines at the water truck […]
Life insurance denied: 3 reasons to review medical records for accuracy
{October 7th, 2016} by Tomas McFie
Having spent over 35 years in and around health care records, first as an intern, then as a doctor and now as a life insurance agent, it never ceases to amaze me how frequently people are shocked about the data found in their medical records. Be it a prescription never filled, a physician’s comment never […]
Gloom Could Lift for MetLife After Brighthouse Split
{October 7th, 2016} by Aaron Black
It is a gift that few shareholders probably want, but probably one for which they should be thankful. MetLife is preparing to spin off its consumer business to shareholders, giving them a company weighed down by low interest rates and a lousy market for variable annuities. Overall, the deal probably makes sense. When MetLife said […]
Are robo advisers fiduciaries? One law firm thinks so
{October 7th, 2016} by Suleman Din
Do robo advice clients understand they’re not receiving comprehensive financial planning? Yes — and as fiduciaries, robos don’t require new rules, argues a new white paper supporting digital advice. But a leading critic of digital advice says the argument “reflects an astonishing lack of respect for fiduciary law.” The paper, “The Evolution of Advice: Digital […]
Software pundit: Plan for a total IT overhaul after DOL rule
{October 7th, 2016} by Warren S. Hersch
Among the various issues engendered by the Department of Labor’s fiduciary rule, one is especially concerning to insurers, advisors and intermediaries in the distribution chain: What will the rule mean for the industry’s massive information technology infrastructure? Will software and systems need to be tweaked, retrofitted or replaced? What are the stumbling blocks to surmount […]
WINK AIDS IN DETERMINING “REASONABLE COMPENSATION”
{October 7th, 2016} by Wink's RockStars
Wink, Inc.’s AnnuitySpecs Tool is Strategically Positioned to Aid with DOL Rule Implementation Pleasant Hill, Iowa. October 6, 2016– How can one determine what is “reasonable compensation” on an annuity? The Department of Labor issued its final fiduciary rule on April 6, 2016. Among the products that the regulation affects are annuity sales that are […]
New data confirms a low national retirement IQ
{October 6th, 2016} by LifeHealthPro Editors
Although many Americans think they are financially savvy, new data shows how the group closest to retirement, baby boomers, struggles with retirement fundamentals and is not saving enough for their golden years. New data released by the Indexed Annuity Leadership Council shows that many baby boomers aren’t financially prepared for retirement — they have little […]
The DOL: In your face once more with an overtime pay rule
{October 6th, 2016} by Warren S. Hersch
You would think that advisors have enough on their plate scrambling to prepare for the Department of Labor’s fiduciary rule, due to be fully phased in by April 2017. Think again. A new DOL overtime pay rule, finalized last May, raises by 100 percent (to $47,476 from $23,660) the threshold at which employees can qualify […]
Ward Group: Top 50 life insurers for 2016
{October 6th, 2016} by Warren S. Hersch
Allianz Life, General Re, Principal life, Thrivent Financial and USAA are among the industry’s top 50 life insurers, according to a new research. So reports The Ward Group, a unit of Aon Hewitt, in its 2016 annual report on life insurers. The benchmarking firm analyzed the financial performance of nearly 3,000 property-casualty insurance companies and […]
DOL Rule Appeals Likely to Drag Well Into ’17
{October 6th, 2016} by John Hilton
As the financial services industry eagerly awaits decisions from the bench, thoughts are turning to appeals in lawsuits filed against the Department of Labor’s fiduciary rule. The first lawsuit by the National Association for Fixed Annuities – requesting a preliminary injunction stopping the entire rule – was heard Aug. 25 in District of Columbia District […]
How to sell insurance products people believe they don’t need: Opinion
{October 6th, 2016} by Tom Dougherty
Every insurance company and its agents face the same hurdle each day: Convincing audiences that they should buy something they believe they don’t need. Selling insurance isn’t like selling something people want. Consumers want iPhones and a nice-looking car. They will gladly pony up for them. They don’t want to think about what insurance is protecting […]
MetLife to spin off life insurance operations after weighing IPO
{October 6th, 2016} by Carl Surran
MetLife (NYSE:MET) +2.2% AH after confirming that it filed for a spinoff of its U.S. life insurance unit after considering alternate plans to sell the business or exit through an IPO. At least 80% of the shares in Brighthouse Financial will be distributed to MET investors under the plan, with the timing of the transaction […]
Humans have reached their lifespan limit, researchers say
{October 6th, 2016} by Bianca Britton, CNN
(CNN)Humans can only live so long and we’re reaching the natural biological limit, researchers say in a report published in Nature. The paper, published Wednesday, says that despite life expectancy being dramatically higher than it was 100 years ago, it’s highly unlikely it will continue to rise any more than what it is right now. […]
4 common misconceptions about FIUL
{October 5th, 2016} by Jason Wellmann
Don’t believe the hype: FIUL is too good to be true! This seems to be the common refrain from the majority of articles and commentary directed toward fixed index universal life insurance (FIUL), usually made in response to claims that sales people too often promise the moon whenever FIUL is discussed as an option for […]
Allianz Life Pro+ FIUL Policy Adds New Allianz True Balance Index
{October 5th, 2016} by Allianz Life Insurance Company of North America
MINNEAPOLIS, Oct. 4, 2016 – Allianz Life Insurance Company of North America (Allianz Life®) today announced the addition of the Allianz True BalanceSM index to its Allianz Life Pro+® Fixed Index Universal Life Insurance (FIUL) Policy. Along with helping agents provide income-tax-free death benefit protection for beneficiaries, Allianz Life Pro+ now offers an additional way […]
Thrivent Files Suit Against DOL Fiduciary Rule
{October 4th, 2016} by John Hilton
Thrivent Financial for Lutherans filed a sixth lawsuit Thursday against the Department of Labor fiduciary rule. Filed in U.S. District Court for the District of Minnesota, Thrivent’s 29-page lawsuit claimed the DOL rule will render its dispute resolution mechanism obsolete. Although five other lawsuits have been filed against the fiduciary rule since June, what makes […]
Market Synergy Hammers DOL on Public Notice of Rule Changes
{October 4th, 2016} by John Hilton
Market Synergy Group reminded a judge this week that the Department of Labor denied it the opportunity to comment on key changes to its fiduciary rule. Market Synergy Group filed the brief in response to the 3 1/2-hour hearing Sept. 21 before Judge Daniel Crabtree in Kansas City. Some analysts say the proceeding went very […]
Get a life – Insurance, that is
{October 4th, 2016} by Valerie Vinyard, Special to The Explorer
Though mortality remains alive and well, fewer U.S. residents own life insurance policies nowadays. With September being Life Insurance Awareness Month, AAA Insurance experts want consumers to know it’s never too early to start planning. “Life insurance tends to be one of the areas that consumers put off or ignore,” said Brad Oltmans, vice president […]
Voya Financial to Announce Third Quarter 2016 Results on November 2
{October 4th, 2016} by Voya
NEW YORK, Oct. 4, 2016 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that it will host a webcast of its third quarter 2016 earnings conference call on Wednesday, November 2, 2016 from 10 a.m. to 11 a.m. (ET). A press release containing information about the company’s financial results for the third quarter of […]
Sammons Financial aims at making sure workers stay
{October 4th, 2016} by Matthew Patane
No. 3 Sammons Financial Group Member Cos. | Large company category Sammons Financial Group wants it employees around for a long time. “We know that people don’t stay in jobs like they once did for 20, 30 years at a time, but we’d like to change that,” said Cindy Reed, president of Sammons’ annuities group. To […]
CNO Alleges Fraud in Lawsuit Against Life Reinsurer Beechwood Re
{October 4th, 2016} by David Pilla
CARMEL, Ind. – Two insurance subsidiaries of CNO Financial Group Inc. are terminating reinsurance agreements with Beechwood Re, and filing a lawsuit against the life reinsurer as the units look to recapture about $550 million of closed block long-term care liabilities they say were funded in a fraudulent manner. The CNO subsidiaries, Bankers Conseco Life […]
How to target millennials with life insurance marketing
{October 4th, 2016} by Kim Brumbaugh
By now, many agents and advisors have begun to see the value of multi-generational planning. When done well, working with younger generations of clients can be win-win for everyone involved. It offers advisors an opportunity to grow their businesses in a way that is poised to last for decades to come. By welcoming new, younger […]
Why Women Need Life Insurance
{October 4th, 2016} by Brian Greenberg
Oct. 4, 2016 — Now more than ever, women are redefining their roles at work and at home. Women have more options than ever, from full-time careers outside the home to careers as full-time homemakers with stops nearly everywhere in between. While women are achieving an unprecedented work-life balance, a piece of the puzzle that […]
Solvency II, European Insurance Regulation, Impacts US Insurers Too
{October 4th, 2016} by Effisoft USA
MIAMI, FL–(Marketwired – October 3, 2016) – US insurance executives need to know about Solvency II, an influential recent European Union insurance regulation. “They may not need to grasp it in great detail but should be familiar with its broad outlines because it will have a lot of impact internationally,” says Grégory Moliner, CEO of […]
IRI Announces New Training to Navigate DOL Fiduciary Rule Compliance
{October 4th, 2016} by Insured Retirement Institute
WASHINGTON, D.C., October 3, 2016 – The Insured Retirement Institute (IRI) today announced its plans to unveil training platforms designed to help financial professionals and home office personnel comply with the Department of Labor’s (DOL) fiduciary rule. IRI is partnering with RegEd, Inc. on this training initiative. “Training will be one of most critical parts […]
Opinion: Here’s what you should understand about annuities before you buy
{October 4th, 2016} by Phil Simonides
Annuities, despite promising guaranteed income during retirement, are widely misunderstood. Indeed, over the years some common myths about annuities have become accepted as fact. Here are some of the most common misunderstandings about annuities, and how to avoid their pitfalls. 1: Annuities are expensive There are fees associated with some annuities, just as there are […]
The secret that is insurance industry philanthropy: Opinion
{October 4th, 2016} by Emily Holbrook
One may not think of insurance when pondering which industries are most charitable. I know I didn’t when I first started my career in this sector. But I soon learned the truth. In fact, I’m constantly amazed at how much this industry gives back — and how little recognition it receives for it. Take these […]
J.D. Power: Life insurers make gains in customer satisfaction
{October 4th, 2016} by Warren S. Hersch
Multiline carriers nabbed the two top spots in a recent customer satisfaction survey of life insurers. The “J.D. Power 2016 Life Insurance Study,” released today, ranks State Farm and Nationwide as, respectively, the No. 1 and No. 2 carriers in customer satisfaction. State Farm received an “Overall Customer Satisfaction Index Score” of 828, with Nationwide […]
The income stream death benefit
{October 4th, 2016} by Brian Leising
I’d like to help you close more life insurance sales by showing how an income stream death benefit can help your clients save money and better understand how their coverage works. We will explore the problem, present a money-saving solution and work to simplify it all for our clients. The Problem How many people do […]
Nationwide to Acquire Annuities Company Jefferson National: Deal reflects impact of Labor Department’s new fiduciary rule
{October 3rd, 2016} by Lisa Belifuss
Nationwide Mutual Insurance Co. is acquiring an annuities company that specializes in fee-based products, a sign of how new federal retirement-savings rules are starting to transform parts of the financial-services industry that rely on commission-paid agents. The Columbus, Ohio, property-casualty and life-insurance company is buying Jefferson National Insurance Co., an issuer of annuities that are […]
Marrying fixed index annuities with actively managed accounts
{October 1st, 2016} by Michael Kalen
Editor’s note: The following article is excerpted from a white paper produced by Dressander|BHC. While it is cliché to state that all clients are unique — and indeed all investors have unique needs and face different circumstances — those planning for retirement are choosing annuities more often than not as one of the many investment […]
