How Ohio National’s move may lead to ‘unscrupulous’ broker behavior with annuities

October 9, 2018 by Greg Iacurci

Ohio National Financial Services Inc. recently told broker-dealers it would be terminating trailing commissions on some of its variable annuities, which has led experts to fear that the insurer’s action will cause unscrupulous behavior among brokers.

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“That is what Ohio National wants,” said Sheryl Moore, president and CEO of consulting firm Moore Market Intelligence. “Living benefit guarantees are expensive, hard on their reserves and they don’t want it.”

Originally Posted at InvestmentNews on October 4, 2018 by Greg Iacurci.