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Industry Articles

Advisor Headcount Ticks Up But A Decline Looms

{November 25th, 2015} by Linda Koco

A roller coaster ride is in store where advisor headcount is concerned, with the numbers inching upward but then predicted to drop significantly. That’s according to a new Cerulli Associates study, which warned of a “succession cliff” looming in the distance. The total advisor headcount inched upward in 2014 for the first time in nine […]

Graying advisers perform juggling act with baby-boomer, millennial clients

{November 25th, 2015} by Mary Beth Franklin

No two clients are alike and they need personalized solutions Despite the ongoing debate in the financial advice community about how to attract and accommodate the next generation of investors, retirement clients will continue to be the core of most financial planning practices. In fact, retirement investors represent a disproportionate share of most client bases, […]

Agent Who Victimized Two Senior Citizens With $2 Million Annuities Scam Faces 30 Years in Prison

{November 25th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

SANTA BARBARA, Calif. – A financial planner who authorities say churned two senior citizens’ annuities portfolios into $2 million in illegal gains could be going to prison for up to 30 years. Joseph Anthony Mele, 30, of Ventura, pleaded no contest to multiple felony counts including grand theft by false pretenses, theft from an elder […]

Are You an Insurance ‘Expert?’

{November 25th, 2015} by Christopher J. Boggs

Have you ever noticed that true experts don’t refer to themselves, or even consider themselves, experts? However, others see them as and proclaim them to be experts. True experts worry more about what they don’t know than what they do know, continually looking for ways to fill their knowledge gap. Self-proclaimed experts ignore the breadth […]

A.M. Best Affirms Ratings of EquiTrust Life Insurance Company

{November 25th, 2015} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of B++ (Good) and the issuer credit ratings (ICR) of ‘bbb+’ of EquiTrust Life Insurance Company (EquiTrust) (Chicago, IL). All ratings have a stable outlook. The affirmation reflects adequate levels of risk-adjusted capitalization, stable investment spreads and good asset-liability matching. A.M. Best expects that […]

Penn Mutual Names New President-COO

{November 25th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

HORSHAM, Pa. – Penn Mutual Life Insurance Co. has named David O’Malley as the company’s president and chief operating officer. The promotion is effective Jan. 1. O’Malley started as an intern in the company’s investment department. He joined Penn Mutual in 1994, responsible for overseeing fixed income portfolios and managing various sectors of the bond […]

Carriers Compete With Complexity, Leading to ‘Arms Race’ Concerns

{November 24th, 2015} by Linda Koco

A potential arms race may be ahead for fixed index annuity (FIA) business, similar to that in the variable annuity market a decade ago, according to analysts at A.M. Best.   The FIA business is a large and growing segment within the U.S. annuity market, the A.M. Best researchers said in a new survey of […]

4 of the biggest challenges facing the insurance industry (and how to overcome them)

{November 24th, 2015} by Lynette Gil

The opening general session at NAILBA 34, which began November 18 and ends November 20 in Orlando, Fla., got off to an energetic start. NAILBA 2015 chairman David Long spoke about the association’s partnerships, community outreach, the challenges the insurance industry is facing and more. Click HERE  life-changing challenges  

New NAIC President Huff Says NAIC Will Focus on Consumer Protection in 2016

{November 24th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

NATIONAL HARBOR, Md. – Missouri Insurance Commissioner John Huff, the new president of the National Association of Insurance Commissioners, said his administration will focus on protecting consumers in the insurance marketplace in 2016. The NAIC elected its officers by acclamation at the end of its Fall National Meeting in Maryland on Nov. 22. Their one-year […]

Most Gen Xers paralyzed by retirement fears

{November 24th, 2015} by Marlene Y. Satter

GenXers think we’re in the midst of a retirement crisis. But that doesn’t mean they’re taking action to protect their own interests. In fact, according to the “Generations Apart” study, commissioned by Allianz Life Insurance Company of North America, despite the fact that 92 percent of those aged 35–48 believe in the existence of a […]

Higher interest rates: Don’t wish for too much, too fast

{November 24th, 2015} by Warren S. Hersch

There’s broad consensus that the Federal Reserve will deliver an interest rate hike at its December 16 policy meeting, and that life insurers will at long last get some relief from historically low yields. Often not discussed among industry-watchers, however, are the risks insurers face in a rising interest rate environment, specifically one where rates […]

3 insurance industry views from Moody’s windows

{November 24th, 2015} by Allison Bell

Moody’s Investors Servicesbrought reporters to its offices in downtown Manhattan Wednesday to explain how its analysts see the insurance world. Moody’s and other rating agencies are still recovering from the firestorm of regulatory scrutiny they passed through during the Great Recession. But what analysts at the firms think can still have a big effect on insurers, producers […]

A.M. Best Upgrades Allianz Life to A+ Superior Rating

{November 24th, 2015} by Allianz Life Insurance Company of North America

MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) announced that A.M. Best upgraded the company’s financial strength rating to an A+ from the A rating it has had for the past ten years, and upgraded its issuer credit ratings from a+ to aa-. At the same time, the financial credit rating company affirmed […]

Who Needs Life Insurance More: James Bond… or You?

{November 24th, 2015} by Life Happens

Five Times as Many Americans Think It’s Bond; Survey Finds Majority of Americans Unaware of Who Needs it Most Arlington, Va. – Nov. 23, 2015 – Americans wrongly believe that life insurance is better suited for someone who leads an independent, risky and adventurous life, than for a working father who earns the primary source of income […]

Final DOL rule could place indexed annuities under variable umbrella

{November 24th, 2015} by ROBERT BLOINK, WILLIAM H. BYRNES

The proposed fiduciary rules from the Department of Labor (DOL) are complex and far from settled, but reports from recent meetings on the issue indicate that additional classes of annuity products may be pulled under the umbrella of the new, more strict, fiduciary standards.  Advisors who offer annuities need to be aware of the proposed revisions […]

IRI Posthumously Honors Jim Mumford

{November 24th, 2015} by Insured Retirement Institute

Former Iowa Regulator Recognized for Efforts to Advance Retirement Security Initiatives   WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today posthumously honored Jim Mumford, former First Deputy Commissioner of the Iowa Insurance Division, as a 2015 recipient of the IRI Champion of Retirement Security Award. The award recognizes Mr. Mumford’s efforts, during his 10-year […]

Allianz aims to add $6.9 billion of premiums, focus on top units

{November 24th, 2015} by Nicholas Comfort, Carolynn Look

(Bloomberg) — Allianz SE, Europe’s largest insurer, aims to generate an additional 6.5 billion euros ($6.9 billion) in annual premiums as the company focuses on its most profitable businesses. Allianz wants to achieve annual earnings per share growth of 5 percent on average from 2016 to 2018, the insurer said in a statement on Tuesday. […]

A.M.BestTV: As Fixed-Indexed Annuity Market Grows, So Does Risk Profile

{November 24th, 2015} by AM Best

CONTACTS:   Lee McDonald Group Vice President, Publication and News Services (908) 439-2200, ext. 5561 lee.mcdonald@ambest.com   FOR IMMEDIATE RELEASE OLDWICK – NOVEMBER 04, 2015 This last in a series of “First Monday” episodes for November spotlights a discussion with A.M. Best Assistant Vice President Rosemarie Mirabella and Financial Analyst Frank Walko, who talk about […]

NAILBA 34: A world of opportunities

{November 24th, 2015} by Daniel Williams

“The marketplace is about to experience a milestone disrupter,” according to Mammen Verghis of Prudential.  In a recent email exchange, Verghis stated that, “By 2020, multicultural consumers will account for nearly 4 in 10 of the U.S. population; by 2050, they will be the majority U.S. population.”  On Friday, November 20, NAILBA 34 attendees will learn […]

Insurance industry keeps up charitable giving campaigns

{November 24th, 2015} by Allison Bell

Low interest rates and regulatory changes are forcing many people in the life and health insurance industry to work longer hours for less pay, and much less certainty about the future, these days. But, in spite of the challenges, insurers, industry groups and distributors have been forging ahead with charitable giving campaigns. The National Association […]

Indexed Annuities: Past, Present and Future

{November 24th, 2015} by Mike Janky

From the bull run of the ‘lost decade’ to the gyrations of 2015, the FIA continues to adapt Indexed annuities have been around now for two decades. We have watched these products evolve from a relatively simple design from two carriers in 1995 to now hundreds of carriers offering an array of indexing strategies including […]

Life insurance as long-term care: doing double duty

{November 23rd, 2015} by David McKnight

A long-term care event may very well be the single most devastating event that could befall your clients in retirement. It can be so devastating that, from a financial perspective, your clients could be better off dying than needing long-term care (and I mean that in the most loving way possible).  Click HERE to see how I break this […]

NAILBA 34: A world of opportunities

{November 23rd, 2015} by Daniel Williams

“The marketplace is about to experience a milestone disrupter,” according to Mammen Verghis of Prudential.  In a recent email exchange, Verghis stated that, “By 2020,multicultural consumers will account for nearly 4 in 10 of the U.S. population; by 2050, they will be the majority U.S. population.”  On Friday, November 20, NAILBA 34 attendees will learn […]

A.M. Best Affirms Ratings of Global Atlantic Financial Group Limited’s Subsidiaries

{November 23rd, 2015} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of the life insurance subsidiaries of Global Atlantic Financial Group Limited (Global Atlantic) (Hamilton, Bermuda). Concurrently, A.M. Best has affirmed the ICR of “bbb-” and the issue rating on $150 million 8.625% senior […]

A.M. Best Affirms Ratings of Symetra Financial Corporation and its Subsidiaries

{November 23rd, 2015} by AM Best

Oldwick – A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings (ICR) of “a+” of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York (New York, NY). Concurrently, A.M. Best has affirmed the ICR of “bbb+” and existing issue ratings ofSymetra […]

Carl Icahn Says AIG CEO Unwilling to Break up Company

{November 23rd, 2015} by The Associated Press

Activist investor Carl Icahn is putting more pressure on American International Group Inc. to break itself into three separate companies. Icahn said Monday on his website that after speaking with AIG CEO Peter Hancock several times, Hancock remains unwilling to split the insurer up. Icahn vowed to reach out to shareholders directly and said he […]

Voya Reminds Parents of Babies Born on October 19, 2015 to Sign Up and Receive Their $500 Investment Gift

{November 23rd, 2015} by Voya

Class of 2015′ is eligible for a $500 mutual fund investment through Voya Born to Save® program — but must be enrolled by December 18, 2015 According to survey, one-third of new parents would prefer a financial gift for their child instead of traditional presents this holiday season   NEW YORK, Nov. 23, 2015 /PRNewswire/ […]

Marijuana use of growing concern to life insurers

{November 23rd, 2015} by Warren S. Hersch

As adoption of medical and recreational marijuana skyrockets nationwide, life insurers remain divided about how to rate policy applicants, in part because of the uncertain state of the science underpinning medical testing and the lack of research that might link marijuana use to increased deaths. This was a running theme of a panel discussion at NAILBA34, […]

The life insurance strategy both U.S. and Foreign National clients might want

{November 23rd, 2015} by Laura Morrison

Diversification is one of the guiding principles of financial planning to help mitigate risk. No single asset class or market performs best in all economic environments.  If financial planners diversify a customer’s investment portfolio, why wouldn’t that same principle carry over to managing a client’s life insurance and supplemental retirement assets?  Click HERE to read […]

4 more great Dave Ramsey myths, debunked

{November 23rd, 2015} by Michael Markey

  I’m not quite sure why this has been the hardest column for me to write. Over the last two weeks I’ve become a serial procrastinator. I’ve started writing this a dozen times or so, in my head at least, but I couldn’t really make progress even though I already had the subject pinned down. […]

AIG Advisor Group for sale: Who’s likely to buy it?

{November 23rd, 2015} by Janet Levaux

News of the possible sale of yet another large group of independent broker-dealers emerged Tuesday, when AIG disclosed that it had been contacted by parties with interest in its Advisor Group. “AIG is conducting a strategic review of all its priorities as part of its stated goal of focusing on its core services and reducing the […]

What you need to know about fee-only annuities: Opinion

{November 23rd, 2015} by Mike Patton

Annuities are one of those securities that elicit strong opinions. Love them or despise them, in certain situations they can be an important component of a client’s portfolio. Whatever your belief, the efficacy of annuities is not the subject of this post. Instead, we will focus on a little-known aspect of fee-only variable annuities and […]

What’s so great about IUL?

{November 23rd, 2015} by Tom Martin

As an avid woodworker, I have a tool collection that would be the envy of Bob Villa. My workshop contains some very highly specialized tools accurate to 1/100th of an inch. This kind of precision is necessary for things like cutting dovetail joints, but not everything I do requires that kind of rigor. Some of […]

Women to Watch

{November 23rd, 2015} by InvestmentNews

Click HERE for InvestmentNews’ inaugural Women to Watch list and Lifetime Achievement Award recognition. It’s hard to believe that it was only four months ago that we put out a call for nominations for our Women to Watch list. We were looking to recognize female advisers and executives who have elevated the financial advice industry […]

What We Can Learn from Irate Clients

{November 23rd, 2015} by Joe Curcillo

Mr. Money is on the phone… he is angry and demanding your attention Boss Deborah is sitting in her office reviewing monthly reports as she listens to routine bustling of her staff. Suddenly, she hears a single voice amidst the regular noise. It is Mary, her secretary, attempting to get a word in as she deals […]

The insurance advocate

{November 23rd, 2015} by Lori Widmer

Greg Nemec finds himself in an unlikely position these days — filling the role of insurance advocate. What’s unlikely about his advocacy is that Nemec, regional director at American Financial Network in Parsippany, NJ, never saw himself in the insurance business. In fact, insurance was the last place Nemec thought he’d be. Click HERE to read […]

FIA Terms Tighten Despite Strong Sales

{November 20th, 2015} by Cyril Tuohy

Sales of fixed index annuities (FIAs) exploded in the third quarter, but insurance experts and analysts are noting a trend: FIAs are neither as cheap nor generous as they used to be. To find out, you have to read the fine print buried deep in the annuity contract. It’s the kind of reading that only […]

Financial Illiteracy Alive and Well…with a Gender Gap To Boot

{November 20th, 2015} by Standard and Poor's

S&P Survey finds major deficiencies globally in understanding of savings and borrowing WASHINGTON, Nov. 19, 2015 /PRNewswire/ — In one of the most extensive measurements of global financial literacy to date, the Standard & Poor’s Ratings Services Global Financial Literacy Survey (S&P Global FinLit Survey) released today finds that two-thirds of adults worldwide are not […]

Fidelity & Guaranty Posts Drop in Fiscal Fourth-Quarter Net on Investments

{November 20th, 2015} by David Pilla, news editor, BestWeek: David.Pilla@ambest.com

DES MOINES, Iowa – Fidelity & Guaranty Life Insurance Co.’s fiscal fourth-quarter net income fell to $30 million from $39 million a year earlier as the life and annuities firm reported net investment losses of $112 million versus gains of $40 million a year earlier. Net income for the fiscal year ended Sept. 30 fell […]

Principle-Based Reserving for Life Insurers Just Three States From Ratification

{November 20th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

NATIONAL HARBOR, Md. – Principle-based reserving for life insurers is close to becoming a reality, as adoption by only three states may be separating it from becoming a national standard, according to the latest count by the American Council of Life Insurers. The data was presented to the National Association of Insurance Commissioners’ principle-based review […]

Indexed Annuities Have Record-Breaking 3Q

{November 19th, 2015} by LIMRA Secure Retirement Institute

WINDSOR, Conn., Nov. 19, 2015—U.S. annuity sales totaled $60.6 billion in the third quarter 2015, improving 4 percent compared with prior year, according to LIMRA Secure Retirement Institute’s third quarter U.S. Individual Annuities Sales Survey “Despite high volatility, a significant market correction and lower interest rates, total annuity sales – driven by substantially strong fixed-rate […]

4 ambitious goals NAILBA is looking to accomplish in 2016

{November 19th, 2015} by Emily Holbrook

At the NAILBA 34 conference  in Orlando, the two-hour opening general session offered up many insights into the current happenings of the National Association of Independent Life Brokerage Agencies (NAILBA). David Long, who served as the 2015 chairman of NAILBA, made it clear to the 1,000-plus in attendance that it was supporters of organizations like NAILBA […]

Fixed Index Annuities: Protecting Against the Longevity Risk

{November 18th, 2015} by Eric Taylor

While advances in modern medicine and healthier lifestyles are leading to longer lifespans and more time spent in retirement, these advances are creating another reality: the distinct possibility that some Americans could outlive their money.   According to the Social Security Administration, one out of every four 65-year-olds today will live past age 90, and […]

Advisors: Room To Improve Materials from Providers

{November 18th, 2015} by Cyril Tuohy

Many financial advisors are only “modestly satisfied” with materials furnished by broker-dealers, asset managers and insurance carriers, according to a consultant’s report. There’s room for improvement when it comes to the resources’ usability, comprehension, timeliness and objectivity, the report found. Demand for unvarnished materials is also expected to increase as advisors stretch their acumen in […]

Women Need To Get Up To Speed On Annuities

{November 18th, 2015} by Linda Koco

Not even one-quarter of American women surveyed are knowledgeable about fixed or variable annuities, according to a new study from Insured Retirement Institute (IRI). The annuities are not the only source of mystery for women. According to the study, women are also shy on knowledge about corporate bonds, exchange-traded funds, government bonds, bond funds, individual […]

2015 in Review

{November 17th, 2015} by Maureen James

A Look at Regulatory Issues and Their Impact on Insurance Carriers and Distributors It has been another successful year for life insurance and annuity sales – and the year isn’t over yet! Consumers continue to appreciate the financial protection and income benefits these products provide as they plan for their retirement, which has helped sales […]

Protective Life Launches Online Financial Learning Center

{November 17th, 2015} by Business Wire

BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Insurance Company, a subsidiary of Protective Life Corporation, today announced it has developed a new online portal for financial education. The “Protective Life Learning Center” combines simple interactive tools with more than 500 informative articles and videos. Topics range from basic budget planning to understanding different types of life insurance and annuities. […]

InsuranceNewsNet and NAILBA to Release Results of Independent Life Brokerage Study

{November 17th, 2015} by InsuranceNewsNet

Report will help BGAs gain insights into producer needs and their relationship with BGAs. November 16, 2015 – InsuranceNewsNet and the National Association of Independent Life Brokerage Agencies (NAILBA) have partnered on a comprehensive survey of independent insurance producers. The study is designed to examine the relationship between brokerage general agencies (BGAs) and the agents […]

How annuity advisors are meeting client needs


When making product recommendations, advisors place great emphasis on the reputation and financial strength of a product’s parent company. In fact, 65 percent of advisors say that aspect is extremely important, while only 21 percent say it is somewhat important. Other important considerations for advisors when recommending a fixed indexed annuity product to a client […]

AIG Advisor Group on the block

{November 17th, 2015} by Bruce Kelly

Giant insurer AIG is receiving inquiries for its network of four IBDs The AIG Advisor Group is up for sale. One of the largest networks of independent broker-dealers in the country, the AIG Advisor Group, recently hired a law firm, which in turn will select an investment bank to begin discussions with interested buyers, according […]

‘Tis The Season of Giving? New Survey Says Perhaps Not

{November 17th, 2015} by PRNewswire

The Holiday Season May Not Get Many Americans into the Giving Spirit BLOOMINGTON, Ill., Nov. 17, 2015 /PRNewswire/ — Many people associate the holiday season with giving, but contrary to popular belief, 71 percent of Americans say the holidays have no impact on their contributions to charitable organizations, according to the latest COUNTRY Financial Security Index. […]

8 characteristics of a good insurance executive

{November 17th, 2015} by LIMORE ZILBERMAN

Within the insurance industry, we take certain attributes for granted: diligence, detail orientation, a fundamental understanding of data.   However, it’s rare to take a step back and examine the actual psychological characteristics of insurance executives — how they think, how they make decisions, how they approach interactions with others.  What is the psychological profile of an […]

More Life Carriers Raise Rates On Older Blocks Of Business

{November 17th, 2015} by Rob Sussman

In my Nov. 6 article, I addressed the issue of life insurance carriers raising cost of insurance (COI) rates to egregious levels. Since I wrote that article, the number of carriers raising rates on older blocks of business has increased to six, with Genworth and Prudential PLC (Jackson National’s parent) joining the list. It appears […]

Heads in the Sand, Gen Xers Failing to Secure their Financial Future

{November 17th, 2015} by Business Wire

MINNEAPOLIS–(BUSINESS WIRE)–The majority (92%) of Generation X (age 35-48), feel that Americans are in the midst of a national retirement crisis, and an even greater number (94%), believe it’s critical to build their own financial security in retirement, according to the Generations ApartSM* study, commissioned by Allianz Life Insurance Company of North America (Allianz Life®). […]

Life Insurance Sales Jump 11 Percent at New York Life Through the Third Quarter of 2015

{November 17th, 2015} by Business Wire

NEW YORK–(BUSINESS WIRE)–New York Life, the largest life insurer in the US, today announced an 11 percent increase in sales of individual recurring premium life insurance through agents for the first three quarters of 2015, and a four percent increase in the number of policies sold through agents. These strong results reflect growth across the […]

Fidelity & Guaranty Life Elects to Discontinue Conference Calls for Quarterly and Annual Results

{November 17th, 2015} by PRNewswire

DES MOINES, Iowa, Nov. 16, 2015 /PRNewswire/ — Fidelity & Guaranty Life (NYSE: FGL ) announced today that it has elected to discontinue future conference calls to discuss quarterly and annual results following the announcement, on November 9, 2015, that FGL has entered into a definitive merger agreement with Anbang Insurance Group Co., Ltd.  Therefore, […]

MassMutual Announces Acquisition Of Viability Advisory Group

{November 17th, 2015} by PRNewswire

Strategic acquisition provides new tools to help financial advisors quantify the value of employer-sponsored retirement plans Viability founder, Hugh O’Toole, rejoining MassMutual to lead new offering for financial advisors ENFIELD, Conn., Nov. 16, 2015 /PRNewswire/ — MassMutual today announced it has acquired substantially all the assets of Viability Advisory Group as part of a strategy to […]

Preview: How to get Gen Y to buy insurance

{November 17th, 2015} by Lynette Gil

Type the word “millennial” in Google and you’ll get about 17 million results. Type “Generation Y” and there are about 148 million results. It’s a fact: people are talking about this generation. Click HERE to read article 

Why the insurance industry needs digital marketing

{November 17th, 2015} by Nichole Morford

Social media is no longer a “nice to have” for any agency that wants to stay competitive in today’s fast-paced marketplace. Having an online presence is critical, whether you are targeting millennials or seniors. The right social strategy will make your lead gen efforts more effective. It will multiply your number of qualified prospects. And […]

M&A among insurers pegged at $200 billion-plus thru 3Q 2015

{November 17th, 2015} by Warren S. Hersch

You may have noticed that the pace of mergers and acquisitions among life and health insurers has picked up noticeably in recent months. Since June, Anthem has announced plans to merge with Cigna, a $54 billion deal that would create a colossus — the largest managed health care provider in the U.S. In the life […]

Change is on Everyone’s Mind

{November 17th, 2015} by Chip Anderson

Message from NAFA Last month, NAFA had the privilege of hosting 190 of its members from companies and vendors representing all aspects of fixed annuity distribution at the historic Biltmore Hotel in Coral Gables, FL. Members from across the country connected for the seventh annual Annuity Distribution Summit. The Summit provided a unique forum for […]

State Roundup

{November 17th, 2015} by Pam Heinrich

TRIPPING THE FIDUCIARY LINE: Now What Happens? If the Department of Labor’s proposed fiduciary rule is adopted as it is currently written, fiduciary status and duties would be triggered for most annuity contract transactions that involve Employee Retirement Income Security Act (ERISA) plans and IRAs. Likewise, if the fiduciary (here the insurance agent, broker, or […]

A Closer Look at Income

{November 17th, 2015} by Rod Mims

Second part in a two part series on accumulation and income strategies. Last issue, we explored the value of fixed indexed annuities as accumulation vehicles. Here we’ll look at income riders, which according to LIMRA are now included in over two-thirds of indexed annuity sales.* A client couple, call them Ralph and Alice, are in […]

Fiduciary Bill Would Block DOL From IRAs

{November 16th, 2015} by John Hilton

Legislation introduced by a pair of congressmen would transfer regulatory oversight of IRAs to the Department of Revenue. The Retirement Choice Protection Act, introduced by Reps. Mike Kelly, R-Pa, and Sam Johnson, R-Texas, would effectively derail the Department of Labor’s fiduciary rule. Last month, the pair co-authored a letter, co-signed by 103 House members, to Labor […]

Retirement Industry Braces for a Final Ruling as DOL Public Hearing Marathon Concludes

{November 16th, 2015} by Cliff Andrews

Congress returned from its annual August recess, but the fiduciary debate raged on in Washington, D.C. as the Department of Labor (DOL) conducted four days of public hearings the second week of August. The hearings consisted of 20 panels comprised of over 60 witnesses who presented a mixed bag of testimony. Panels were arranged with […]