3 significant challenges for annuity advisors in 2017

January 3, 2017 by BEN YAHR, GERRY MURTAGH

We expect to see significant changes in the annuity industry during 2017. The Department of Labor’s fiduciary rule will become applicable in April 2017 and have major impacts on financial services delivered to the retirement market.

The DOL rule will affect companies’ strategies and operations, the products they offer, the advice they provide and the technology they use to support their customer and distribution networks.

The biggest impact, however, may be felt by advisors. The DOL rule establishes a fiduciary standard for recommending products to retail IRA customers, which means advisors must always act in the best interest of their clients.

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Originally Posted at LifeHealthPro on December 21, 2016 by BEN YAHR, GERRY MURTAGH.