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Archive for April 2010

Retirement industry group backs annuities in 401(k)s

{April 30th, 2010} by Darla Mercado

Annuity advoacy organization also wants the government to make it easier for plan sponsors to offer the investments to employees By Darla Mercado April 30, 2010 11:46 am ET The Insured Retirement Institute, the annuity advocacy group, has called upon the Treasury and Labor departments to make room for annuity products inside of 401(k) programs. […]

Fox News Talks About Indexed Annuities

{April 30th, 2010} by Sheryl J. Moore

Fox News Talks About Indexed Annuities

Inappropriate Annuity Sales Still An Issue-Finra CEO

{April 30th, 2010} by Daisy Maxey

By Daisy Maxey, Of DOW JONES NEWSWIRES WASHINGTON, D.C. (New York)–The Financial Industry Regulatory Authority, or Finra, remains concerned about the inappropriate sale of annuities to seniors, and its examinations of firms continue to raise red flags on the issue, Richard Ketchum, chairman and chief executive of the securities industry’s voluntary regulatory organization, said Thursday. […]

SEC: Bad Annuity Sales Still an Issue; Beefs Up Exam Team

{April 30th, 2010} by Daisy Maxey

By Daisy Maxey, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The Securities and Exchange Commission continues to encounter suitability problems with the sale of retirement products and variable annuities to senior citizens, Carlo di Florio, director of the commission’s Office of Compliance, Inspections and Examinations, said Thursday. Di Florio also discussed what the SEC has […]

How Safe is a Fixed Annuity?

{April 29th, 2010} by Peter L. Heimdahl

Peter L. Heimdahl Published 12/11/2008  Editor’s note: This testimonial from a satisfied annuity owner might be of use to you in your own annuity selling. For years, I have sung the praises of fixed and indexed annuities, ignoring Wall Street financial “experts” who often belittle these products’ supposedly low returns. Let’s compare some long-term financial results: […]

Why My Fixed Annuity is My Smartest Investment

{April 29th, 2010} by Peter L. Heimdahl

Peter L. Heimdahl Published 12/1/2006  I have diligently saved money for retirement, both in a 401(k) plan and post-tax vehicles, for almost 30 years. With a suspicion that my stock/bond fund returns have been substandard, I recently completed an eye-opening analysis of my investments. What appalled me is just how miserably they performed. Let’s face the […]

Michigan man fined $10,000 for selling annuities after agreeing not to

{April 29th, 2010} by Bob Graham

By Bob Graham Posted: April 28, 2010 A registered principal from Chesaning, Mich., who acknowledged his member firm’s prohibition on selling equity-indexed annuities (EIAs), was fined by FINRA for collecting about $111,000 in compensation for EIA transactions. William Robert Colston engaged in the transactions, even after his unnamed member firm specifically instructed him that he could not […]

Cogent: Affluent Favor IRAs For Retirement Savings

{April 29th, 2010} by NU ONLINE NEWS SERVICE

By NU ONLINE NEWS SERVICE Published 4/28/2010  Wealthy Americans now hold more assets in individual retirement accounts than they do in workplace-based retirement arrangements such as 401(k) plans and 403(b) plans. Ownership of both types of retirement accounts is down since 2006, but ownership of workplace-based retirement accounts has fallen much more dramatically than for IRAs, […]

Vermont, Insurer In Accord On Annuity Sales

{April 29th, 2010} by Trevor Thomas

By TREVOR THOMAS Published 4/28/2010  The Vermont Department of Banking, Insurance, Securities and Health Care Administration has approved a settlement agreement that resolves an investigation involving suitability of indexed annuity sales. The Vermont department negotiated the agreement with Allianz Life Insurance Company of North America, Golden Valley, Minn., a unit of Allianz S.E., Munich, Germany, officials […]

Why I love my fixed annuity

{April 28th, 2010} by Peter Heimdahl

Sunday, September 17, 2006 This summer, a few misguided financial pundits have questioned the wisdom of buying annuities. Their concerns don’t hold up in the real world. I have diligently saved money for retirement in a 401(k) plan and in post-tax vehicles for almost 30 years. With a sneaking suspicion that my stock and bond […]

The largest independent broker-dealers

{April 27th, 2010} by Kristen Hensley

Top independent broker-dealers ranked by 2009 gross revenue RANK Broker-dealer Total gross revenues 1 LPL Investment Holdings Inc. $2.8B   • LPL Financial One Beacon Street Boston, MA 02108 joinlpl.com (888) 250-2420 $2.6B   • Uvest 200 S. College St., 21st Floor Charlotte, NC 28202 uvest.com (800) 277-8802 $195.2M 2 Ameriprise Financial Services Inc. 108 […]

Credible "experts"

{April 26th, 2010} by Sheryl J. Moore

Team, I want to present to you that in the years that I’ve been serving as an expert in the indexed life and indexed annuity markets, I have seen dozens of so-called “experts” come and go. (I’m not saying this in defense of my products and services, as we never have to want for business. […]

Credible “experts”

{April 26th, 2010} by Sheryl J. Moore

Team, I want to present to you that in the years that I’ve been serving as an expert in the indexed life and indexed annuity markets, I have seen dozens of so-called “experts” come and go. (I’m not saying this in defense of my products and services, as we never have to want for business. […]

What advisers really think of income annuities

{April 22nd, 2010} by Darla Mercado

Hint: they think the retirement products attract customers who are scared to death of the market By Darla Mercado April 22, 2010 11:56 am ET Though wirehouse brokers and registered investment advisers are aware of the risk investors face in outliving their money, both groups remain skeptical about the use of income annuities to boost […]

Response: New Post: The Pros and Cons of Equity Indexed Annuities

{April 22nd, 2010} by Unknown

PDF for Setting It Straight with Atlanta Tribune ORIGINAL ARTICLE CAN BE FOUND AT:  New Post: The Pros and Cons of Equity Indexed Annuities Ms. Mines, I am an independent market research analyst who specializes exclusively in the indexed annuity (IA) and indexed life markets. I have tracked the companies, products, marketing, and sales of […]

Annuitizing 401(k)s won't be easy, officials warn

{April 21st, 2010} by Darla Mercado

They ask for input from benefits execs on incorporating products By Darla Mercado  April 18, 2010 6:01 am ETPublic officials last week turned to employee benefits executives for guidance on how best to incorporate annuity products into retirement plans. J. Mark Iwry, senior adviser to Treasury Secretary Timothy Geithner, and Michael L. Davis, deputy assistant secretary […]

Annuitizing 401(k)s won’t be easy, officials warn

{April 21st, 2010} by Darla Mercado

They ask for input from benefits execs on incorporating products By Darla Mercado  April 18, 2010 6:01 am ETPublic officials last week turned to employee benefits executives for guidance on how best to incorporate annuity products into retirement plans. J. Mark Iwry, senior adviser to Treasury Secretary Timothy Geithner, and Michael L. Davis, deputy assistant secretary […]

FINRA and the Securities Power Grab

{April 21st, 2010} by Sheryl J. Moore

Ever feel like some groups just don’t have enough job security? Take the Securities and Exchange Commission (SEC) for example. Historically, the SEC has attempted to take-over regulation of several non-securities products. Want proof? Google “SEC wants to regulate banks” or “SEC wants to regulate single premium life.” Or how about, “SEC wants to regulate […]

Finra plan to increase power draws ire

{April 21st, 2010} by Dan Jamieson

Comment letters blast regulator’s proposal, which would cover a host of business activities at brokerage firms By Dan Jamieson April 18, 2010 6:01 am ET Brokerage firms are howling over a far-reaching proposal that would give Finra substantially more power.   The proposal, which would require giving written notice to the Financial Industry Regulatory Authority […]

72 and still working. How to retire?

{April 20th, 2010} by Kate Ashford

By Kate AshfordApril 9, 2010: 4:36 AM ET (Money Magazine) — The Problem: Doris Partridge, 72, imagined she’d be retired by now. Instead she’s still working part-time, doing data analysis on HIV cases for a nonprofit near her Tallahassee home. “With the changes in the economy, I didn’t think it was prudent to leave,” she […]

Why Can't We Be A Self-Policing Industry?

{April 19th, 2010} by Sheryl J. Moore

When I started speaking to large groups about five years ago, I would usually include slides in my presentations that talked about the top-selling products, regulatory trends, and upcoming changes to product designs. Now keep in mind, the market environment was much different then. It seemed like every other company was being sued in a […]

Why Can’t We Be A Self-Policing Industry?

{April 19th, 2010} by Sheryl J. Moore

When I started speaking to large groups about five years ago, I would usually include slides in my presentations that talked about the top-selling products, regulatory trends, and upcoming changes to product designs. Now keep in mind, the market environment was much different then. It seemed like every other company was being sued in a […]

Wisconsin Regulators Eye Annuity Suitability

{April 16th, 2010} by Warren S. Hersch

By WARREN S. HERSCH Published 4/15/2010  The Wisconsin Office of the Commissioner of Insurance has asked three life insurers to change procedures and guidelines for determining product suitability. The office has included that recommendation and others in reports on market conduct examinations of American Investors Life Insurance Company, Topeka, Kan.; Aviva Life and Annuity Company, Des […]

Busting the fixed annuities myth

{April 13th, 2010} by Harold J. Rogers

Posted on 13 April 2010 By Hal Rogers     For the last several years the journalistic community has painted a pretty ugly picture of annuities and people who sell them. . From financial journalist Jane Bryant Quinn to the local beat reporter, writers have found annuity bashing to be a good bet to fill an empty page and […]

Health care legislation contains tax on annuities

{April 13th, 2010} by Karen Mracek

By KAREN MRACEK • kmracek@dmreg.com • April 11, 2010 President Barack Obama has promoted annuities as an effective tool for retirement savings. But a little-noticed tax in the health care reconciliation bill imposes a 3.8 percent tax on annuities purchased by high-income earners. The tax, which goes into effect in 2013, will cost consumers $210 […]

A Behavioral Approach To Retirement Income Makes Sense

{April 12th, 2010} by Jack Marrion

By JACK MARRION Published 4/5/2010  Say a retired husband and wife determine that they need $50,000, in addition to Social Security and any pension, in order to have a comfortable retirement. The Wall Street retirement income approach would typically have them invest $1,250,000, assuming a 4% withdrawal rate adjusted for inflation. However, this approach does not […]

Why Not Position Life Insurance For Tax-Free Retirement Income?

{April 12th, 2010} by Michael Pinkans

By MICHAEL PINKANS Published 4/5/2010  Total insurance in force is one criterion that rating agencies look at when ranking life insurance carriers. That’s one reason why carriers often tout their insurance in force.  But is this the right focus? Why not focus on how much tax-free income heavily funded life policies can provide? This is not […]

Full Disclosure Indexed UL Report

{April 8th, 2010} by Roger L. Blease

By ROGER L. BLEASE Published 4/5/2010  Full Disclosure covers universal life insurance products twice yearly and features both fixed and indexed policies. This excerpt includes one of the illustration scenarios featured in Full Disclosure, an extract featuring long-term guaranteed minimum premiums (for those that offer them), and a listing of each product’s policy design objectives. This […]

Forethought To Sell $150M Debt

{April 6th, 2010} by N/A

04-06-2010 | Source: emii.com Forethought Financial Group is planning to offer $150 million of 10-year debt, Bloomberg reports. The Indianapolis-based life insurance and annuities provider will use the sale proceeds to retire $146 million of paid-in-kind notes held by coffin maker, Hillenbrand. Credit Suisse and UBS are the joint book managers for Forethought’s offering. The […]

Death and Taxes: Allianz Life Survey Reveals that Funerals Outrank Paying Taxes as Least Enjoyable Activity

{April 6th, 2010} by N/A

April 06, 2010 | Business Wire Copyright: Business Wire Source: Business Wire Wordcount: unknown Findings also show that Most Americans Refuse to Cheat; Majority Value Taxes and the Services they Provide MINNEAPOLIS–(BUSINESS WIRE)– As the old saying goes, there are two certainties in life – death and taxes. But which is least enjoyable, especially considering […]

Why Your Clients Don’t Have to Tie Up Money Any Longer

{April 5th, 2010} by Chris Conklin

4 ways to address the ‘surrender charge’ objection in an annuity sale  By Chris Conklin Published 4/1/2010  When clients see the attractive features of annuities — such as the annual reset no-loss guarantees of fixed indexed annuities, the appealing interest rates of fixed annuities, or the guaranteed income features of variable annuities — they may say […]

How to Build a Steady Stream of Annuity Prospects

{April 5th, 2010} by Kevin Wedmore

Prospecting is your No. 1 challenge — but with some simple tricks, you can make it your daily routine  By Kevin Wedmore Published 4/1/2010    Prospecting is the lifeblood of our business. It plays a vital role in how we develop our business models and, often, how we are viewed by our clients and our peers. It […]

Producers’ Choice: The Best Annuity Companies in the Industry

{April 5th, 2010} by N/A

2010 Annuity Carrier Report Card reveals top carriers in 11 different categories  By Staff Writer Published 4/1/2010  How can you find the right annuity carrier to fit your needs? These days, with ratings downgrades and companies exiting the market left and right, the decision to partner with one carrier over another can be harder to make […]

Regulations Shape Future for Indexed Products

{April 5th, 2010} by Sheryl J. Moore

Click here for the article.

Playing hard to get can get you sales

{April 5th, 2010} by Jack Marrion

A cultivated air of exclusivity may help draw more clients your way.   BY Jack Marrion Published 4/1/2010    Thirty years ago the Swiss watchmaker Blancpain was on the ropes. Its watches didn’t use electronics or quartz, so $20 digital watches kept better time. Jean-Claude Biver bought the rights to the name and came up with a […]

Insurers to be responsible for fixed-annuity suitability

{April 5th, 2010} by Darla Mercado

State regulators’ new rules take burden off broker-dealers  By Darla Mercado April 4, 2010 6:01 am ET Fixed-annuity sales are about to receive a new layer of supervision from state regulators.  Late last month, the National Association of Insurance Commissioners — whose members are the elected or appointed state officials who regulate insurance companies and […]

ING's new strategy: Simplify annuities, gain sales

{April 5th, 2010} by Karen Mracek

By KAREN MRACEK • kmracek@dmreg.com • April 4, 2010 Simplicity. That’s not the first word that comes to mind when thinking of annuities, but that’s what ING is focusing its attention on – and designing products around – to get more Americans to save for retirement. “The thing that has really hurt Americans is that […]

Response: When comparing investments, put performances in context

{April 2nd, 2010} by Sheryl J. Moore

PDF for Setting It Straight with Scott Burns ORIGINAL ARTICLE CAN BE FOUND AT:  When comparing investments, put performances in context Scott, As you well know, I am an independent market research analyst who specializes exclusively in the indexed annuity (IA) and indexed life markets. I have tracked the companies, products, marketing, and sales of […]

Response: Investment News Online Chatter

{April 2nd, 2010} by Sheryl J. Moore

PDF for Setting It Straight with David Sterling ORIGINAL ARTICLE CAN BE FOUND AT:  Online Chatter Dear Mr. David Sterling, I am an independent market research analyst who specializes exclusively in the indexed annuity (IA) and indexed life markets. I have tracked the companies, products, marketing, and sales of these products for over a decade. […]

Aegon axes head of annuity sales Mark Cardy

{April 2nd, 2010} by William Robins

By William Robins | 14:33:15 | 01 April 2010 Aegon has made its head of annuity sales Mark Cardy redundant. The Scottish insurer has made Cardy redundant and made Jeremy Haines position as annuity development manager redundant. An Aegon spokesman could not confirm whether Haines still had a role at Aegon, but said instead that he was ‘awaiting redeployment’. ‘As part […]

Hang On! Traditional Fixed, Indexed and Variable Products Take the Industry for a Ride

{April 2nd, 2010} by Steven A. Morelli

Click here for the article.

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