Fiduciary Rule Divides Fixed And Variable Annuity Worlds
August 4, 2015 by Cyril Tuohy
It seems as if the U.S. Department of Labor (DOL) proposal to amend conflict of interest rules around individual retirement accounts (IRAs) has split the annuity world down the middle, with fixed annuities on one side and variable annuities on the other.
For the fixed annuity world life — so far — has appeared relatively “smooth,” as Labor Department regulators appear content with applying long-held exemptions to advisors engaged in transactions involving fixed products.
Comments submitted last week to the Labor Department by the National Association for Fixed Annuities (NAFA), the main trade organization for the fixed annuity world, were kept to 26 pages. Click here to read…