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Industry Articles

National Western Life completes Delaware holding company reorganization

{October 8th, 2015} by IFAWebnews Staff

National Western Life Insurance Company, a Colorado corporation, announced that it has completed its previously announced holding company reorganization. A new Delaware corporation, National Western Life Group, Inc., (NWLI Delaware), has replaced the company as the publicly held corporation. As a result of the reorganization, the company has become a wholly owned subsidiary of NWLI […]

A.M. Best Special Report: Fixed Indexed Annuities Survey Results Released

{October 6th, 2015} by Business Wire

OLDWICK, N.J.–(BUSINESS WIRE)–Robust sales, expansion of living benefit riders and flexibility in product design have resulted in strong tailwinds for fixed indexed annuities (FIA) writers, according to a special report by A.M. Best. The Best Special Report, titled, “A.M. Best Releases Fixed Indexed Annuities Survey Results,” explores the findings of a survey conducted of the […]

10 jobs that can make getting life insurance tough

{October 6th, 2015} by Nancy Dunham

Mama, don’t let your babies grow up to be fishermen, pilots or roofers — at least if you want them to find reasonably priced life insurance. Some professionals, such as bomb disposal experts, should expect that their job is going to make it difficult to buy life insurance. (It’s just one of the hazards of […]

American Equity founder’s $1.5 million gift funds Drake learning center

{October 6th, 2015} by Business Record Staff

Drake University on Friday will dedicate a new state-of-the-art collaborative learning space provided through a $1.5 million gift from David Noble, founder of West Des Moines-based American Equity Investment Life Holding Co. The David J. Noble American Equity Center, with its red carpet and curved glass entry on the lower level of Aliber Hall, houses […]

An undersold market

{October 6th, 2015} by David Port

About five years ago, Steven Tennant, CFP, made a decision that would alter the course of his career and his firm. Fresh off work on a series of cases involving widowed female clients that left him feeling invigorated and fulfilled, the veteran advisor Tennant concluded it was time for a bold strategic pivot, one that […]

Apollo-backed Athene delays IPO plan while seeking CFO

{October 6th, 2015} by SONALI BASAK AND ALEX BARINKA

(Bloomberg) — Athene Holding Ltd., the insurer with ties toApollo Global Management LLC, is pushing back a plan to file for an initial public offering as the company seeks a chief financial officer. The venture expects to file an initial prospectus in early 2016 with a deadline of June 30, according to a statement Tuesday […]

What’s the secret to becoming a multigenerational advisor

{October 6th, 2015} by Daniel Williams

Being a multigenerational advisor has become a hot topic these days in the insurance and financial services industries.  We spoke with Stephen DeCesare, CFP®, and founder and president of DeCesare Retirement Specialists, to get his thoughts on what it means to be an effective multigenerational advisor.  Following are highlights from that conversation. Click HERE to read […]

Court Hammers Taxpayers in 419 Ruling

{October 6th, 2015} by Roccy DeFrancesco

I’m not sure why this 419 case hasn’t been talked about much, but it certainly got my attention when it came across my desk. If you’ll remember, 419 plans were the darling of the life insurance industry for years. The plans were sold as a way to buy cash-value life insurance in a 100 percent […]

A.M. Best Revises Issuer Credit Rating Outlook to Positive for Pacific LifeCorp and Its Subsidiaries

{October 6th, 2015} by Business Wire

OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has revised the outlook to positive from stable and affirmed the issuer credit rating (ICR) of “aa-” of Pacific Life Insurance Company (PLIC) (Omaha, NE) and its wholly owned subsidiary, Pacific Life & Annuity Company (PLAC) (Phoenix, AZ) (together referred to as Pacific Life Group) (Pacific Life). Additionally, A.M. Best has […]

As DOL fiduciary heats up, both sides dig in

{October 6th, 2015} by Mark Schoeff Jr.

The battle over a Labor Department proposal to raise investment advice standards for retirement accounts reached a new level of nasty last week, as supporters and opponents dug in for months of fighting ahead. Over the course of a few days, the author of a bill that would stop the rule lashed out at Democrats […]

Voya Financial to Announce Third Quarter 2015 Results on November 4

{October 6th, 2015} by PRNewswire

NEW YORK, Oct. 5, 2015 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that it will host an audio webcast of its third quarter 2015 earnings conference call on Wednesday, November 4, 2015 from 10 a.m. to 11 a.m. (ET). The webcast will follow the issuance of the company’s third quarter 2015 earnings press […]

Fixed Annuity Overview

{October 6th, 2015} by Life & Health Advisor

As millions of individuals approach retirement age, they face the challenges of saving enough money for their retirement while maximizing yield and minimizing risk. Historically, fixed indexed annuities (FIA) have provided an important solution to solve the yield/risk conundrum facing retirees and near retirees. Recent innovations in product design, including the addition of living benefit features and customized indexes, […]

Strong Tailwinds for Fixed Indexed Annuities

{October 6th, 2015} by Life & Health Advisor

OLDWICK, N.J., October 6, 2015—Robust sales, expansion of living benefit riders and flexibility in product design have resulted in strong tailwinds for fixed indexed annuities (FIA) writers, according to a special report by A.M. Best. The Best Special Report, titled, “A.M. Best Releases Fixed Indexed Annuities Survey Results,” explores the findings of a survey conducted of the top 10 FIA […]

Zurich appoints Paul Horgan as CEO of Global Corporate in North America

{October 6th, 2015} by Zurich

Zurich, a leading property and casualty insurance provider globally and in North America, today announced that Paul Horgan, previously Head of Group Reinsurance, has been appointed CEO of Zurich’s Global Corporate in North America (GCiNA) business effective immediately.  As CEO, Horgan is now accountable for the direction, management and performance of GCiNA, a major business […]

Industry Trade Groups Question ‘Horse-Before-Cart’ IAIS New Global Insurance Surcharge

{October 6th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

WASHINGTON – The International Association of Insurance Supervisors proposed a 10% average capital requirement surcharge for the largest globally active insurance companies, including American International Group, Inc., and MetLife Inc., as part of a regulatory effort to prevent another worldwide financial crisis. However, insurance companies and trade groups have questioned the practicality of releasing the […]

Dai-ichi Life and Mizuho Financial Group Merge Asset Management Units

{October 6th, 2015} by Iris Lai, Hong Kong bureau manager: Iris.Lai@ambest.com

TOKYO – Dai-ichi Life Insurance Co. Ltd and Mizuho Financial Group Inc. have agreed to integrate the two groups’ asset management units to jointly operate the new company, according to a statement from Dai-ichi Life. The integration aims to combine the two group’s asset-management resources to jointly build an asset-management business platform “that is No. […]

Lt. Governor Taylor urges Ohioans to utilize free missing life insurance policy search service

{October 5th, 2015} by N/A

COLUMBUS — Ohio Lieutenant Governor Mary Taylor wants Ohioans to know that the Ohio Department of Insurance provides a free search service that can help locate missing life insurance policies or annuity contracts left behind by loved ones that have passed away. The department has located more than 1,200 missing policies in the state for […]

NAIFA speaker: NAIC’s AG 49 is bad news for indexed UL providers

{October 5th, 2015} by Warren S. Hersch

New actuarial guidelines adopted by the National Association of Insurance Commissioners will impose restrictions on policy illustrations for the industry’s hottest-selling insurance products, indexed universal life. And that will likely translate to greater uniformity and less innovation in the design of the products. Randy Kemnitz, a subject matter expert at Kaplin University where he writes the […]

Millennials are optimistic about their financial future

{October 5th, 2015} by BUSINESS RECORD STAFF

  Millennials are looking into the future and feeling pretty good about what they are seeing, according to a Wells Fargo & Co. survey. The survey also detected a bit of a generational divide. The survey was of 2,000 people ages 18 to 65. The majority of respondents expressed optimism about their finances, with millennials […]

The cool new insurers: How to attract and retain millennials

{October 5th, 2015} by RAVI MALHOTRA

Digital offerings are continuously transforming industries – and the insurance industry is not immune. There are dramatic workforce changes taking place as advances in technology significantly alter the insurance business. The result is a more specialized workforce in which technological advances open the door to new and exciting types of work requiring entirely new skillsets. Click […]

Global regulators finalize new capital rule for big insurers

{October 5th, 2015} by Huw Jones. Editing by Jane Merriman

  The world’s nine biggest insurance companies will have to hold more capital under new rules just finalised by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. Regulators decided to look at the multi-trillion dollar insurance industry following the massive public rescue of insurer AIG in the United States […]

Man who killed fiancee could inherit $577,000 from her life insurance policies

{October 4th, 2015} by Dan Herbeck

Michael Moore shot and killed his fiancée, Kayla Humphries, in her North Buffalo apartment on the night of Aug. 9, 2013. He readily admitted killing Humphries, but after a nonjury trial last year, a State Supreme Court judge found that Moore was “not criminally responsible” for her death because of mental illness. Now Moore stands […]

Women and retirement planning: Walk a mile in her shoes

{October 4th, 2015} by Mary Beth Franklin

Women think about retirement planning differently than men. Marcia Mantell gets it. Women are completely comfortable talking about many “M-word” topics ranging from marriage and motherhood to mammograms and menopause, Ms. Mantell writes in her new book “What’s the Deal with Retirement Planning for Women?” (People Tested Books, 2015). But bring up another “M-word” — […]

Life Industry Heads for ACLI Conference Looking for New Ways to Solve Too-Familiar Issues

{October 3rd, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

CHICAGO – This year’s American Council of Life Insurers’ annual conference will have no shortage of highly important, and all-too-familiar, issues for attendees to discuss, debate and then depart from Chicago with fresh ideas on how to solve them. “Capital standards development, both domestically and internationally,” said Jack Dolan, ACLI’s vice president of media relations, […]

California Commissioner Announces Run for State Attorney General

{October 3rd, 2015} by David Pilla, news editor, BestWeek: David.Pilla@ambest.com

SACRAMENTO, Calif. – Two-term California Insurance Commissioner Dave Jones announced his candidacy to run for state attorney general in the 2018 election. “I have dedicated my life and my legal training to protecting California families,” Jones said in a statement announcing his candidacy. “I am ready and well prepared to take on this challenge.” Parke […]

15 best practices to protect clients from elder financial fraud

{October 3rd, 2015} by Emily Holbrook

Charleston — The IRI Annual Meeting — and, no doubt, other conferences within this industry — had a heavy focus not only on the importance of retirement planning and the proposed DOL fiduciary standard, but also on elder financial fraud.  With the U.S. population aging at a rate never before seen, cases of elder financial fraud are skyrocketing. To […]

A.M. Best Affirms Ratings of Zurich American Life Insurance Company and Farmers New World Life Insurance Company

{October 3rd, 2015} by Business Wire

OLDWICK, N.J., Oct 02, 2015 (BUSINESS WIRE) — A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a” for Zurich American Life Insurance Company (ZALICO) (Schaumburg, IL) and affirmed the FSR of A (Excellent) and the ICR of “a+” of Farmers New World Life Insurance […]

Jobs Report: Insurance Industry Growth Continues by Adding 1,700 Jobs in September

{October 2nd, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

WASHINGTON – The U.S. insurance industry added 1,700 jobs in September, according to figures released Oct. 2 by the Bureau of Labor Statistics. The seasonally adjusted 0.07% increase for September over August shows a continuation of insurance industry growth. The growth rate for September was slightly more than the 0.02% adjusted growth rate reported for […]

FINRA says it gave failing grade to 208 test takers by mistake

{October 2nd, 2015} by Michael J. Moore

(Bloomberg) — The Financial Industry Regulatory Authority mistakenly gave failing grades to 208 candidates for the Series 24 exam. “FINRA apologizes to the affected individuals for any problems the error may have caused,” Wall Street’s self-funded regulator said Wednesday in a statement. “No individuals incorrectly received a passing grade.” Click HERE to read article

NAIFA CEO Kevin Mayeux: There’s “no limit to what we can achieve”

{October 2nd, 2015} by Warren S. Hersch

In a wide-ranging interview with LifeHealthPro in advance of the 2015 annual conference of the National Association of Insurance and Financial Advisors, taking placing in New Orleans October 3-5, NAIFA’s new CEO Kevin Mayeux outlined advocacy and professional development initiatives underway at the 126-year-old organization. Chief among them: NAIFA’s full-court press against the Department of […]

A.M. Best Affirms Ratings of Ameriprise Financial, Inc. and Its Subsidiaries

{October 2nd, 2015} by Business Wire

October 01, 2015 03:42 PM Eastern Daylight Time OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of RiverSource Life Insurance Company (Minneapolis, MN) and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York (Albany, NY). A.M. Best also has […]

When it comes to Twitter, keep messages short and to the point

{October 2nd, 2015} by Alessandra Malito

Talk of adding more characters to tweets is nice, but advisers should be wary      When it comes to Twitter, less is more. Speculation is swirling around what sort of changes Twitter may be making to its 140-character limit for tweets, after tech site Re/Code published an article that an undisclosed new feature was […]

New York Life leads Million Dollar Round Table for the 61st consecutive year.

{October 2nd, 2015} by New York Life

One in three female MDRT members are from New York Life—More than any other company. NEW YORK, September 9, 2015—New York Life has dominated the Million Dollar Round Table (MDRT) in the United States for the 61st consecutive year, with 2,464 members in 2015. MDRT granted membership to only 9,966 agents in the entire United […]

The Million Dollar Round Table Announces New 2015-2016 Executive Committee Leadership

{October 2nd, 2015} by Press Release

PARK RIDGE, Ill. (September 1, 2015) – The Million Dollar Round Table – The Premier Association of Financial Professionals®, announced the appointment of Brian D. Heckert, CLU, ChFC, to President and Ross Vanderwolf, CFP, to Secretary of the organization’s Executive Committee, effective Sept. 1, 2015. Heckert from Nashville, Ill., will be the 90th President of […]

MetLife closing New Jersey facility, 136 jobs in limbo

{October 2nd, 2015} by IFAwebnews Staff

According to a notice filed with the New Jersey Department of Labor and Workforce Development, life insurer MetLife will close its Somerset, N.J., location in the coming months. The jobs of 136 employees located there could be in jeopardy. According to the WARN (Worker Adjustment and Retraining Notification Act) notice filed with the state, the […]

A.M. Best Places Ratings of The Phoenix Companies Inc. and Its Subsidiaries Under Review With Developing Implications

{October 2nd, 2015} by Best's News Service

Oldwick – A.M. Best has placed the issuer credit rating (ICR) of “b” of The Phoenix Companies Inc. (Phoenix) (NYSE: PNX) under review with developing implications. In addition, A.M. Best has placed under review with developing implications the issue rating of “b” on Phoenix’s $300 million ($253 million outstanding) 7.45% senior unsecured quarterly interest bonds […]

House Committee Passes Bill to Delay DOL Fiduciary Rule

{October 1st, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

WASHINGTON – The House Financial Services Committee approved a bill to delay implementation of a proposed U.S. Department of Labor regulation industry representatives say would impose unworkable standards on investment advisers and change the way investors receive advice. With a vote of 34-25, the panel on Sept. 30 approved the Retail Investor Protection Act, H.R. […]

INProfile: Susan Winkler

{October 1st, 2015} by Carolyn S. Ellis

Since 2003 the Connecticut Insurance and Financial Services Cluster (CT IFS) has worked to strengthen the insurance and financial services industry in Hartford, the nation’s insurance capital. Through workforce development, policy advocacy, and business and economic development initiatives, CT IFS serves the region and its corporate sponsors. To fill actuarial ranks with locally trained, qualified […]

Industry Moves From Life/Health To Life/Annuity

{October 1st, 2015} by Linda Koco

There was a time not long ago when the life and annuity (L&A) industry had another moniker. It was known as “the life and health (L&H) insurance industry.” The words still hold sway in some quarters, but they are no longer in general parlance as they once were.  Click HERE to read article      […]

Protective to Acquire Blocks of Business from Genworth

{October 1st, 2015} by Protective

BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (“Protective”), a wholly owned U.S. subsidiary of The Dai-ichi Life Insurance Company, Limited (TSE: 8750, “Dai-ichi Life”), has reached an agreement through its wholly owned subsidiary, Protective Life Insurance Company, with Genworth Life and Annuity Insurance Company (“Genworth”), Richmond, Virginia, to acquire via reinsurance certain in force blocks of term […]

Half the world is worried about retirement

{October 1st, 2015} by Marlene Y. Satter

As if we didn’t know—Americans are worried about retirement, with 52 percent doubting their ability to afford the life they want once they leave work. And Americans aren’t the only ones, according to a GfK survey that found global echoes of Americans’ worries in the 19 countries’ residents it surveyed. Some countries’ residents were even more worried than U.S. […]

Who is the affluent generation now?

{October 1st, 2015} by Marlene Y. Satter

Is the younger generation coming up, or is the older generation going down? According to the 2015 Ipsos Affluent Survey USA, whatever is causing it, there are now more Gen Xers among the affluent class than there are baby boomers. The survey defines “affluents” as adults living in households with at least $100,000 in annual […]

Watch out for sham designations

{September 30th, 2015} by Mike Anthony, JD, CMP™

As an advisor, you must truly be careful what you call yourself and the specialization you claim to have knowledge in. Nowhere is this more true than in the area of professionaldesignations not associated with a university or college degree. Advisors around the country have been using designations offed up by fly-by-night certification programs. These […]

FPA Announces Winners of the 2015 P. Kemp Fain, Jr., Award and Heart of Financial Planning Award

{September 30th, 2015} by FPA

Award winners to be honored at the FPA Annual Conference in Boston   DENVER– The Financial Planning Association® (FPA®) today announced the winners of its top awards, which will be presented at the FPA Annual Conference – BE Boston 2015, Sept. 26-28 at the Boston Convention and Exhibition Center. FPA will present the 2015 P. Kemp Fain, […]

Allianz Life Promotes Todd Hedtke to SVP, Chief Investment Officer

{September 30th, 2015} by Allianz

  September 01, 2015 10:55 AM Eastern Daylight Time MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) has promoted Todd Hedtke to senior vice president and chief investment officer for Allianz Investment Management (AIM) US. In his new role, Hedtke will lead the AIM investment leadership team and join the company’s Executive Leadership […]

Symetra Joins Hueler’s Income Solutions® Platform

{September 30th, 2015} by Business WIre

BELLEVUE, Wash., Sep 29, 2015 (BUSINESS WIRE) — Symetra Life Insurance Company today announced it is partnering with Hueler Investment Services, Inc. to offer a Symetra single premium immediate annuity (SPIA) and deferred income annuity (DIA) on the Hueler Income Solutions® platform. The Income Solutions® platform is a fully automated, competitive Annuity Marketplace℠ created specifically […]

FSOC’s Insurance Rep: Global Standards Have ‘Gone Too Far’

{September 30th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

WASHINGTON – The insurance representative on the Financial Stability Oversight Council testified that efforts to enact capital standards for globally active insurance companies may have gone too far, although top federal insurance experts said any international standards would reflect U.S. regulations. S. Roy Woodall, the FSOC member with insurance expertise, testified Sept. 29 at a […]

Kansas Insurance Department announces service to find lost life, annuity policies

{September 30th, 2015} by Ken Selzer, CPA, Commissioner of Insurance

The Kansas Insurance Department (KID) can now assist Kansans in locating life insurance and annuity benefits they may be owed. The new Life Insurance Policy and Annuity Search is now available by submitting a request form to our department. Kansans who believe they are beneficiaries, an executor or legal representative of a deceased person can […]

AIG Advisor Group is ‘island of stability’ in BD space: Exec

{September 30th, 2015} by Janet Levaux

As the markets continue along a bumpy path this fall, a number ofbroker-dealers are hitting potholes. That’s good news for the AIG Advisor Group of independent broker-dealers, its executives say, as they gather in San Antonio on Monday for their national educational conference, ConnectED 2015. “This is our best recruiting year in seven years,” said […]

Eric Miller Named VP at Foresters

{September 30th, 2015} by Life & Health Advisor

(Toronto, ON, September 30, 2015) – Cheryl Neal, President, North America Life Insurance for Foresters™ announced today the appointment of Eric Miller as Vice President, US Life and Annuity Sales. Foresters is a leading international financial services provider with $28 billion of funds under management.1 In this role, Miller will lead strategy and plans for […]

The Market Swoon Could Make These Annuities More Popular Than Ever

{September 30th, 2015} by Dan Caplinger

Investors always want the best of both worlds: strong returns during bull markets without the risk of big declines during bear markets. The annuity industry has traditionally sought to give investors what they want, and increasingly, annuity customers are turning to a particular type of insurance product to get the exposure they want. Although traditional […]

New Book, The Art of Why, Illuminates Path to More Meaningful, Satisfying Life

{September 30th, 2015} by Business Wire

DENVER–(BUSINESS WIRE)–Financial professional, speaker and philanthropist Steve Luckenbach released his second book today,The Art of Why. Luckenbach draws on nearly 29 years of experience in the financial services industry to explain how personal fulfillment and setting and achieving goals come from understanding the why behind our actions. “The Art of Why is idealistic at a […]

DOL official promises changes to fiduciary rule based on avalanche of comments

{September 29th, 2015} by Mark Schoeff Jr

One such change could involve the controversial contract brokers must sign with clients in order to have flexibility in how they charge The Labor Department will make changes to a proposal to raise investment advice standards for retirement accounts as soon as it digests thousands of comments letters, the official spearheading the rule said Tuesday. […]

Federal Insurance Office Supports National Annuity Suitability Standards

{September 29th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

WASHINGTON – The Federal Insurance Office warned unless more states adopt a national annuity suitability standard for the sale of such products and better protect consumers, federal regulators could step in, FIO said in a Sept. 28 report. In the 2015 annual report to Congress, FIO said it was concerned about the lack of uniformity […]

Nassau Reinsurance Group to Acquire The Phoenix Companies, Inc. for $37.50 Per Share in Cash

{September 29th, 2015} by Business Wire

Transaction values Phoenix at $217.2 million Nassau to contribute an additional $100 million in equity capital to Phoenix upon closing Phoenix to become Nassau’s U.S. life and annuity platform Transaction expected to close by early 2016   September 29, 2015 07:22 AM Eastern Daylight Time NEW YORK & HARTFORD, Conn–(BUSINESS WIRE)–Nassau Reinsurance Group Holdings L.P. […]

Best insurance companies for working mothers in 2015

{September 29th, 2015} by Jayleen R. Heft

Workplace issues like career advancement, child care, flexible work schedules, leave policies and wage equality are not just female concerns. Today, men also recognize the benefits of working for an employer that offers you the ability to be successful at work while still taking care of your family responsibilities. Hundreds of companies compete each year […]

Voya Financial Offers New Index Crediting Strategy to Diversify its Suite of Fixed Index Annuity Product Solutions

{September 29th, 2015} by PRNewswire

WINDSOR, Conn., Sept. 28, 2015 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA) announced today that it is offering customers a new index crediting strategy within the company’s Voya Secure Index series and Retirement Index Select fixed index annuity product lines. The Voya Point-to-Point Volatility Control Strategy features Deutsche Bank’s proprietary CROCI (Cash Return on Capital Invested) […]

Why advisors expect higher FIA sales next year


The health of the FIA market is perhaps best judged by those who sell more product. On this score, the trend is clear: The higher the overall annuity production (all product types) among respondents polled in the survey, the more likely that advisors were to say that FIA sales increased “somewhat” or “substantially” over the […]

If It Ain’t Fixed Indexed, It’s Broken

{September 29th, 2015} by Kerry Pechter , with Annuity FYI

Fixed indexed annuities remain a niche product, representing only about 10% of annuity sales. But that the niche has grown into an almost $50 billion-a-year business. Sales of FIAs have grown especially fast at independent broker-dealers since 2013. Except for fixed indexed annuities, sales of all annuities declined in the first quarter of this year. […]

Automation, Centralization Make Inroads Into Annuity Training

{September 28th, 2015} by Cyril Tuohy

The Depository Trust and Clearing Corp. (DTCC) has been in the news as major carriers have signed on with its compliance and agent training platform. Kevin Lewis, DTCC vice president of insurance and retirement services, answers questions about recent these recent carrier moves and what they mean for agent training. Click HERE to read the […]


{September 28th, 2015} by Delaware Life

WELLESLEY, Mass. (September 28, 2015) – Delaware Life Insurance Company has added a new offering to its fixed index annuity lineup. Delaware Life Retirement Stages 7SM Fixed Index Annuity is designed to give more conservative, retirement-focused customers principal protection and upside potential. To provide diversification and options for a variety of market conditions, Retirement Stages […]

State regulators, Finra, SIFMA propose fee disclosure model for brokers

{September 28th, 2015} by Mark Schoeff Jr.

Top players from around the financial services industry — state regulators, Finra, trade groups and three broker-dealers — proposed a fee disclosure model Monday they say would help clarify charges investors pay. The online disclosure template would include the amount and frequency of brokerage fees related to account maintenance, cash management services and specific investments. […]

What advisers hate about their jobs

{September 28th, 2015} by Liz Skinner

Being a financial adviser is a terrific career — it even moved up 16 spots to No. 25 of the 100 Best Jobs of 2015, according to U.S. News and World Report. But let’s face it, giving advice is not always a walk in the park. We asked advisers what they hate most about their […]

Retiring BB&T Chief Executive Thought Insurance Move Was a ‘Crazy Idea’

{September 28th, 2015} by Renée Kiriluk-Hill, associate editor, BestWeek: renee.kiriluk-hill@ambest.com

WINSTON-SALEM, N.C. – Over the past quarter of a century, H. Wade Reece helped grow broker BB&T Insurance Holdings Inc. from $6 million to $1.71 billion in revenues. Now chairman and chief executive officer, he plans to retire at year’s end and is to be succeeded by John Howard, who was president and CEO of […]

Millenials: Forcing Change Upon our Industry

{September 28th, 2015} by Lynette Gil

An iPhone 6’s alarm is ringing in the distance. A groggy hand turns it off and proceeds to check Facebook, Twitter, SnapChat and, finally, email. After a complete catch up with technology, the young person is up and ready to tackle the world. Click HERE to read the article