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Archive for April 2017


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  • BlackRock’s latest bullseye: The advisers’ desktop

    {April 29th, 2017} by Charles Paikert

    CHICAGO ― The world’s largest fund company wants a bigger piece of the most valuable real estate in the independent advisory space: the RIA’s desktop. “We need to be closer to the clients, and for us that means closer to the adviser,” said BlackRock CEO Larry Fink, who gave the closing keynote address at Morningstar’s […]

    Why Many of Your Prospects Are Broke

    {April 29th, 2017} by Allison Bell

    Roughly three-quarters of Americans have some kind of debt, and 18% spend more than half of their monthly income paying off lenders other than home mortgage lenders. Click HERE to view the original story via ThinkAdvisor.  Northwestern Mutual Life Insurance Co. has published those sobering figures about why your prospects, and some of your customers, are […]

    NAFA Statement on Confirmation of Alexander Acosta as Labor Secretary

    {April 28th, 2017} by NAFA

    Washington, D.C., April 28, 2017 – NAFA, the National Association for Fixed Annuities, released the following statement from Chip Anderson, NAFA’s Executive Director, on the confirmation of Alexander Acosta as the Secretary of the Department of Labor. “NAFA, extends its congratulations to Alexander Acosta on his confirmation as Secretary of the Department of Labor. We […]

    The SEC would have to jump through hoops to get approval for its own fiduciary rule

    {April 28th, 2017} by Mark Schoeff Jr.

    Republican lawmakers and financial industry opponents of the Labor Department’s fiduciary rule repeatedly say — almost like a mantra — that the Securities and Exchange Commission is the place where such a regulation should originate. Click HERE to view the full story via InvestmentNews; registration required

    Principal earnings per share up 31 percent in first quarter

    {April 28th, 2017} by Business Record Staff

    Principal Financial Group reported first-quarter net income of $348.9 million, compared with $368 million for the first quarter of 2016. Operating earnings were up 29 percent to $370.5 million for the first quarter. The company’s board approved a 46-cent-per-share dividend for the second quarter, an 18 percent increase from the year-ago dividend. “First quarter was […]

    Morningstar analyst: Fintech’s effect on clients ‘overblown’

    {April 27th, 2017} by Charles Paikert

    CHICAGO – The fintech revolution may be in full bloom, but industry analysts at Morningstar’s Investment Conference say its impact may not be as immediate as anticipated. “Fintech’s effect on consumer finance is overblown,” says Colin Plunkett, an equity analyst for Morningstar. “Disrupting the existing models is extremely hard to do.” He pointed to Merrill […]

    Few Pre-Retirees Count on Annuities: LIMRA

    {April 27th, 2017} by Allison Bell

    Consumers ages 50 to 75 who are still working may not be doing much to insure their retirement income against market risk or longevity risk. Click HERE to view the full story via ThinkAdvisor.  Analysts at LIMRA, a market research consortium with roots in the life insurance industry, raise that possibility in a summary of […]

    45% of Americans chose smartphones, cars or vacations over financial security

    {April 27th, 2017} by Voya

    WINDSOR, Conn., April 27, 2017 /PRNewswire/ — A new consumer survey by Voya Financial’s Annuities and Individual Life businesses revealed that many Americans might be willing to risk their financial security to keep some of their most-valued items. In fact, nearly half (45%) of Americans surveyed were willing to give up their financial security if […]


    {April 27th, 2017} by Tim Leach

    The next time you’re in the skywalk lobby at EMC Insurance Companies, take a moment to look at the messages posted on the walls. What you will read is it has been in business for more than 100 years. In fact, it has been doing business in Downtown Des Moines since 1911. Forbes magazine listed […]

    No slow down in recruiting at Raymond James as advisers prepare for DOL fiduciary rule

    {April 27th, 2017} by Bruce Kelly

    Coming off its best recruiting year ever, Raymond James Financial Services Inc. is playing host to a possible record number of potential recruits this week at its annual meeting, Elevate, in Orlando, Florida.  Click HERE to view the full story via InvestmentNews; registration required.

    How to Advance Women to the C-Suite

    {April 27th, 2017} by Cindy Schipani

    U.S. business suffers from a gender paradox. Studies show companies with gender parity on boards and in the executive ranks outperform male-dominated ones. Yet, women represent only 9 percent of top management positions and 5.2 percent of CEOs of Fortune 500 companies. Michigan Ross Professor Cindy Schipani and colleague Terry Dworkin of Indiana University and Seattle University say […]

    Chief risk officers assess key threats to insurance industry

    {April 27th, 2017} by Joe Gardyasz

    What emerging issues are insurance companies’ chief risk officers most concerned about? Cyber threats and new regulatory standards are high on the list. For Brent Mardis, vice president and chief risk officer for Sammons Financial Group in Des Moines, regulatory risk has been a theme for at least the past five years. Mardis was part […]

    Finra issues complaint against broker for unsuitable variable annuity sales

    {April 27th, 2017} by InvestmentNews

    The Financial Industry Regulatory Authority Inc. has issued a disciplinary complaint against former broker Walter Marino for recommending exchanges of non-qualified variable annuities to two customers without having a reasonable basis for recommending the transactions. Click HERE to view the full story via InvestmentNews; registration required

    LIMRA and Wealth2k® Partner on Innovative Retirement Income Solutions

    {April 27th, 2017} by Wealth2k, Inc

    The Department of Labor’s “Fiduciary Rule” has placed the spotlight on retirement income distribution planning both in term of a critical consumer need as well as an outsized business opportunity. “LIMRA members have a huge stake in retirement income,” said Kenneth Cochrane, Vice President of Commercial Research at LIMRA. “In partnering with Wealth2k, LIMRA has […]

    On fiduciary rule, Trump could actually add more exemptions

    {April 26th, 2017} by Andrew Welsch

    CHICAGO ― To effectively undo the fiduciary rule, the Trump administration may have to take an alternative path to wholesale rescinding the controversial regulation. “It is remarkably difficult to do rule-making,” said Aron Szapiro, director of public policy research at Morningstar. “It requires you to check a lot of boxes. If you do it wrong, […]

    ‘No Evidence’ DOL Rule Is Hurting Recruiting: Raymond James

    {April 26th, 2017} by Janet Levaux

    While Morgan Stanley says the now-delayed Department of Labor fiduciary rule has put a damper on advisor movement, Raymond James says its independent channel’s recruiting efforts are going full steam ahead. In fact, it has more than 85 prospects at its yearly indie advisor event taking place this week in Orlando – up from 75 […]

    MetLife Seeks Timeout in Litigation Over SIFI Designation

    {April 26th, 2017} by Frank Klimko

    WASHINGTON – Attorneys for MetLife Inc. have asked a federal appeals court to suspend proceedings in litigation over the legality of its systemically important financial institution designation while the U.S. Treasury Department reviews the SIFI selection process and the authority of the Financial Stability Oversight Council. “If the Treasury secretary’s inquiry confirms that FSOC followed […]

    Taking care of insurance in a fee-only world

    {April 26th, 2017} by Carolyn McClanahan

    A common misconception held by broker-dealers about fee-only financial advisers is they don’t take care of their client’s insurance needs because they don’t sell insurance. Many of these BD-based advisers are gearing up for the fiduciary standard by becoming fee-based — charging fees on the brokerage side and still selling insurance products. To me, this […]

    Millennials, Take This Savings Lesson From Retirees

    {April 26th, 2017} by ARIELLE O'SHEA

    Many have mulled this question; few have been lucky enough to answer it: Take lottery winnings as a lump sum or annuity? As with any financial decision, there are pros and cons to both sides. But the pro to a lump sum is often the same as the con: You get to take that money […]

    Have a Selfie? Go Buy Life Insurance

    {April 26th, 2017} by Warren S. Hersch

    In recent years, life insurers have begun a major push in collaboration with technology companies to surmount a frequent bottleneck in the sales process: shortening time spent on medical underwriting, which can extend the sales cycle by weeks or longer. An eye-opener among these industry initiatives is the use of facial analytics technology to measure […]

    CNO Financial Group Inc (NYSE:CNO) reported earnings of $0.34 per share beating Walls Streets expectations.

    {April 26th, 2017} by ME Staff

    CNO Financial Group Inc (NYSE:CNO) reported Q1 2017 earnings this Afternoon, coming in at $0.34 per share, beating Wall Street’s estimates of $0.31 per Share. Revenue for the quarter came in at $1.07 billion beating analyst estimates of $1.01 billion Analyst Coverage For CNO Financial Group Inc (NYSE:CNO) These are 8 Hold Ratings, 1 Buy […]

    Fiduciary Spurring Shakeup in Indexed Annuity Sales

    {April 26th, 2017} by Barron's

    Brokers may soon have to clear their indexed annuity sales through their broker-dealer in order to walk the fiduciary line, says InvestmentNews. Firms are looking at whether to continue allowing sales of the products to be reported as “outside business activity,” the publication writes. Under that approach, brokers are paid commissions directly from an insurer […]

    Fintech firms still see a future for fiduciary compliance tools

    {April 26th, 2017} by Suleman Din

    So determined to demonstrate its fiduciary rule bonafides, adviser software firm Active Allocator asked the attorneys at Wagner Law Group to review its product. The firm advertised that Wagner issued a legal opinion concluding their software helps advisers meet the regulation’s unique requirements. Yet now that the fiduciary rule’s implementation has been delayed and could […]

    3 Lessons Prince Left Agents and Advisors

    {April 26th, 2017} by Allison Bell

    Prince Rogers Nelson, the musician known as Prince, died one year ago today, at the age of 57. Click HERE to view the original story via ThinkAdvisor. He died with no known spouse, no known living children, no living parents, one known living sister, five known living half-siblings, an estate that appears to be worth somewhere between […]

    Budget Surgeons Might Harvest Your Clients’ Lifespan

    {April 26th, 2017} by Allison Bell

    Many economists say they see a growing gap in life expectancy between high-income U.S. residents and low-income U.S. residents. Click HERE to view the original story via ThinkAdvisor. Some are starting to talk about the possibility of changing Social Security, Medicare and other government retirement benefits programs to adjust for that gap. Those economists hope a […]

    Live Human Agents Still Have Fans

    {April 26th, 2017} by Allison Bell

    Some U.S. consumers may be deciding they prefer flesh-and-blood life insurance agents to online insurance purchasing systems.  Click HERE to view the original article via ThinkAdvisor.  LIMRA and Life Happens raised that possibility today, when they released the results of their latest annual Insurance Barometer survey. The nonprofit organizations commissioned an online survey of 2,031 U.S. adults […]

    NAFA Files Comment Letter Urging Further Delay of DOL Rule to ‘Avoid Unleashing Chaos’

    {April 26th, 2017} by NAFA

    Filing Contends DOL Cost-Benefit Analysis of Rule is Flawed WASHINGTON D.C. (April 25, 2017) — In a letter submitted to the Department of Labor, NAFA, the National Association for Fixed Annuities is urging a further delay of the fiduciary duty rule beyond its current June 9 partial applicability date, while the Department completes its comprehensive […]

    Life.io and LIMRA Announce an Elite Strategic Partnership for Policyholder Engagement

    {April 26th, 2017} by Life.io

    PHILADELPHIA, April 24, 2017 /PRNewswire/ — Life.io and LIMRA today announce they have entered into a strategic partnership designed to accelerate the transformation of the customer experience within the life insurance industry. LIMRA’s research has revealed that as today’s consumers have become more diverse, their needs and expectations have become more distinct. As they have […]

    Ameriprise Gets a Real Estate Exposure Question

    {April 25th, 2017} by Jamie Johnson

    Ameriprise Financial Inc., an insurance and asset management company, posted solid results for the first quarter on Monday in spite of turmoil overseas, uncertainty on the fiduciary rule here in the United States, and creaking in the U.S. commercial real estate market. Click HERE to view the original article via ThinkAdvisor. An analyst on the […]

    Lincoln Financial Group Launches New Video Series Showcasing the Value of Life Insurance and Long-Term Care Funding Options

    {April 25th, 2017} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) launched a video series to help educate advisors and their clients on the value of life insurance, including hybrid policies that can help with long-term care expenses. Designed to showcase the benefits of coverage, the video series explores various topics ranging from “Why Life?” to “Now is the […]

    DOL Fiduciary Rule Hurts Now, Annuity Community Says

    {April 25th, 2017} by Allison Bell

    Click HERE to view the original article via ThinkAdvisor The National Association of Insurance and Financial Advisors told the U.S. Department of Labor earlier this week that the DOL fiduciary rule is already hurting NAIFA members, and the NAIFA members’ clients. NAIFA gathered information for a new comment letter by conducting a member survey. The group received […]

    Even Fiduciary Champions Push DOL to Change Rule

    {April 25th, 2017} by Melanie Waddell

    Click HERE to view the original story via ThinkAdvisor Industry trade groups and lawmakers are urging the Department of Labor to revise, revoke or further delay its fiduciary rule — even the Investment Adviser Association. Comments continued to flood into Labor on Monday, the last day of the comment period issued by Labor on President Donald Trump’s […]

    Allianz Invests in US Fintech Insurer Lemonade

    {April 25th, 2017} by Renée Kiriluk-Hill

    MUNICH – Allianz has made a strategic investment in U.S. fintech property/casualty startup Lemonade, saying a partnership supports its digital focus. “Changes in the digital age occur in an exponential way. We need to look out for early signs of disruptions, recognize patterns and use these insights to build our customer solutions,” said Allianz SE […]

    BestWeek: Carriers Reduce Commissions, Squeeze Agents/Brokers, Observers Say

    {April 25th, 2017} by Caroline Saucer

    OLDWICK, N.J. – Despite facing the double whammy of seeing their commissions reduced or eliminated while demand for their services substantially increases, people like Kelly Don Fristoe, owner of Financial Partners, said in this week’s BestWeek that the agent-broker force is far from extinct. “We had to do more for less compensation and in some […]

    Taking care of insurance in a fee-only world

    {April 25th, 2017} by Carolyn McClanahan

    A common misconception held by broker-dealers about fee-only financial advisers is they don’t take care of their client’s insurance needs because they don’t sell insurance. Many of these BD-based advisers are gearing up for the fiduciary standard by becoming fee-based — charging fees on the brokerage side and still selling insurance products. To me, this […]

    Bank Annuity Sales Rise, Insurance Income Falls

    {April 25th, 2017} by Cyril Tuohy

    Income earned in 2016 from the sale of annuities at bank holding companies rose 2.3 percent to $3.22 billion compared with 2015 as more large banks increased annuity programs, new research found. The proportion of big banks with growing annuity sales programs increased in 2016 over the previous year, as did the rates of growth among those […]

    Ameriprise buying bank broker-dealer, adding 200 registered representatives

    {April 25th, 2017} by Bruce Kelly

    Taking a page from competitors like LPL Financial and Cetera Financial Group, Ameriprise Financial Inc. said on Monday it had agreed to buy Investment Professionals Inc., an independent broker-dealer based in San Antonio, Texas, that focuses on the market for independent reps to operate in banks and credit unions. Click HERE to view the full […]

    Census Table Shows 37-Year-Olds Are Great Prospects

    {April 25th, 2017} by Allison Bell

    The Census Bureau has published a new U.S. population estimate table confirming what insurance agents and advisors know in their guts: Some vintages of U.S. prospects are much bigger than others. Click HERE to view the original story via ThinkAdvisor. Many age distribution tables break down the U.S. population in terms of decades, or even […]

    Teach Insurance Literacy

    {April 25th, 2017} by Allison Bell

    Trevor is a hypothetical 11-year-old. If he’s like 11-year-olds in my area, he’s gotten a whiff of financial literacy from school and computer games. Click HERE to view the full story via ThinkAdvisor.  The school has given him a chance to spend his money to buy lunch, bake sale items and books. It’s also given him a […]

    MetLife asks court to halt ‘too big to fail’ case during Trump review

    {April 25th, 2017} by Lisa Lambert

    MetLife Inc (MET.N) is asking a U.S. court to put on pause a case over how the government deems certain companies “too big to fail,” one of the most significant reforms to come out of the financial crisis, while President Donald Trump’s administration finishes reviewing the current regulatory approach. In March 2016 U.S. District Judge […]

    Some broker-dealers changing indexed-annuity compensation due to DOL fiduciary rule

    {April 25th, 2017} by Greg Iacurci

    Brokerage firms are evaluating how they and their advisers get paid for indexed annuity sales to clients, as the start date of a new Labor Department rule governing investment advice in retirement accounts inches closer. Click HERE to view the full story via InvestmentNews; registration required   “There are still a lot of broker-dealers out […]

    Pop quiz: How many planning acronyms do you know?

    {April 24th, 2017} by Maddy Perkins

    The wealth management space is a sea of acronyms. We’ve assembled another series to study up on — from general investing terms to institutions and regulators, professional designations and equity and fund analysis. Click HERE through the slideshow to brush up on acronyms you may not know (or may have forgotten). Test yourself by considering […]

    6 Top House Annuity Bills

    {April 24th, 2017} by Allison Bell

    Click HERE to read the original story via ThinkAdvisor The Trump administration is preparing to release a major tax reform proposal this week. That proposal could contain provisions with all manner of good, bad and indifferent effects on annuity issuers, annuity users and annuity buyers, whether or not the provisions contain a single direct reference […]

    American Equity Committed to Independent Channel, Despite BIC

    {April 24th, 2017} by Cyril Tuohy

    Despite a drop in fixed indexed annuity sales last year, the president of American Equity Investment Life Insurance Co. said Friday the company has no intention of steering sales away from the independent agent channel. FIA sales at the company fell 16 percent to $5.7 billion in 2016 compared to 2015 but the drop had […]

    Are IOVAs the Future of Variable Annuities?

    {April 24th, 2017} by Robert Bloink, and William H. Byrnes

    Sales of traditional variable annuities have taken a substantial hit in recent years, but a subset of the product class continues to attract clients who are set on increasing tax-deferred savings potential in pre-retirement years.  Click HERE to view the original story via ThinkAdvisor; registration required The investment-only variable annuity (IOVA) is a type of […]

    In-Plan Benefits Could Boost Life Income Annuities at Non-Profits

    {April 24th, 2017} by Jay Cooper

    Lifetime income annuities could be poised to find a home in more not-for-profit industry retirement plans, but annuity providers will need to dispel common objections to the products. Annuity providers would also be well served to show not-for-profits how current default investment options misalign with their employees’ intentions. The biggest concern for not-for-profit plan sponsors […]

    Trump Orders Hiatus for SIFI Designations, a Review of Post-Crisis Regulations

    {April 21st, 2017} by Frank Klimko

    WASHINGTON – President Donald Trump signed an executive order directing Treasury Secretary Steven Mnuchin to suspend any new systemically important financial institution designations for nonbanks while the government reviews the Financial Stability Oversight Council and related post-crisis financial regulations. “You are calling for a much-needed time out from the financial stability council’s process for designating […]

    A.M. BestTV: Risk Managers Gather at Birthplace of U.S. Insurance

    {April 21st, 2017} by AM Best

    Oldwick – This A.M.BestTV episode looks at the upcoming annual RIMS (Risk Management Society) conference, taking place April 23-25, in Philadelphia, PA, where U.S. insurance industry roots run deep. Click on http://www.ambest.com/v.asp?v=rimspreview417 to view the entire program. For full video coverage of the RIMS conference, including exclusive executive interviews, visit http://www.ambest.tv/rims17 . The RIMS conference […]

    3 DOL Fiduciary Takeaways From Morgan Stanley’s Q1 Earnings

    {April 21st, 2017} by Janet Levaux

    Morgan Stanley reported strong results earlier this week, with its first-quarter net income jumping 70% year over year, to $1.93 billion, and revenue increasing 25% to $9.75 billion. Click HERE to view the original story via ThinkAdvisor. Morgan Stanley reported strong results earlier this week, with its first-quarter net income jumping 70% year over year, […]

    ‘Cha-Ching’ Is a Fun Sound, Insurer Tells Kids

    {April 21st, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvisor Jackson National Life Insurance Co. has started a nonprofit arm that will support financial literacy programs. The nonprofit arm, the Jackson Charitable Foundation, is investing $3 million in educational efforts. The foundation will work with organizations such as Discovery Education and Junior Achievement to promote the idea […]

    Fidelity & Guaranty Life is an M&A Target Again

    {April 21st, 2017} by Jay Cooper

    Fidelity & Guaranty Life could be back in play as an acquisition target now that a deal with Anbang Insurance Group has fallen apart. Fidelity & Guaranty Life (FGL), which offers fixed annuity and life insurance products distributed by independent agents, is leaving the door open for another potential merger. The company says it is […]

    AIG Estimates $100 Million First-Quarter Hit on Ogden Rate, $40 Million Deferred Gain From Berkshire Deal

    {April 21st, 2017} by David Pilla

    NEW YORK – American International Group Inc. announced two items it said will impact first-quarter results — a $100 million estimated negative impact related to the U.K. Ogden rate change for bodily injury and a $40 million pretax amortization gain related to AIG’s $9.8 billion adverse development cover agreement with a Berkshire Hathaway Inc. reinsurer. […]

    Meet this year’s Broker of the Year: Susan L. Combs

    {April 21st, 2017} by Daniel Williams

    Susan L. Combs says it’s important for people to play to their strengths. Combs, the 2017 BenefitsPRO Broker of the Year, came to that realization at her first real job out of college. New to New York, she had found work at Paychex, Inc., where she sold payroll and HR services. “Large sales organizations love […]

    Allianz Life Widens FIA Lead Over American Equity

    {April 21st, 2017} by Cyril Tuohy

    Allianz Life, the nation’s No. 1 seller of fixed indexed annuities, saw its FIA sales more than double over its next closest competitor last year. Allianz’s success is due to its strong distribution relationships with broker/dealers, wirehouses and insurance marketing organizations (IMOs), said Matthew Gray, senior vice president of product innovation. But the widening rift […]

    This Is How You Sell Annuities

    {April 20th, 2017} by Kerry Pechter

    The advisor Curtis Cloke learned long ago that one way to sell annuities to wealthy near-retirees is to show them—“with science and math,” as he likes to say—that if they buy enough guaranteed income they can take much more risk with the rest of their cash and end up all the richer. For two decades, […]

    MetLife’s Chief Accounting Officer to Become Brighthouse COO

    {April 20th, 2017} by Marie Suszynski

    NEW YORK – MetLife Inc.’s chief accounting officer, Peter M. Carlson, will become chief operating officer of the company’s subsidiary Brighthouse Financial Inc. on June 1. Carlson took the position at MetLife in 2009, joining the company from Wachovia Corp. William O’Donnell, current head of financial management reporting at MetLife, will take on Carlson’s role […]

    Millennials’ financial habits and priorities differ from Gen X, boomers

    {April 20th, 2017} by Liz Skinner

    Advisers who want to serve millennial clients need to focus on helping them plan for what’s most important to them and should work to resolve generational misperceptions about finances that could sink their likelihood of success. Click HERE to view the full story via InvestmentNews; registration required.

    Should YOU Hate Annuities?

    {April 20th, 2017} by Reid Abedeen, Partner, Safeguard Investment Advisory Group, LLC

    He’s a doctor, a master at thinking ahead, and he wanted me to learn that kind of discipline. That’s what chess is all about — plotting and thinking three, four or five moves ahead. Now, as an adult, that’s how my brain is wired. It’s why I like working with people to plan their retirement […]

    The Financial Times Group Debuts Beta Version of Life Insurance/Annuities Biz Intel Service

    {April 20th, 2017} by Greg Shulas

    The Money-Media unit of the Financial Times Group has launched a beta version of Life Annuity Specialist, a business intelligence service written for executives at life insurance carriers and annuity providers, not for agents. The publisher wants to make Life Annuity Specialist a one-stop source that you can rely on for efficient aggregation of industry […]

    SEC enforcement actions against broker-dealers up 20%

    {April 20th, 2017} by InvestmentNews

    SEC enforcement actions against broker-dealers were up 20% in the first half of the government’s fiscal year, and now account for a quarter of all enforcement actions by the agency, according to a report from Cornerstone Research.   Click HERE to view the original article via InvestmentNews; registration required.

    DOL Delays Fiduciary Rule—But Significant Portions Of New Rule Are Likely To Take Effect In June 2017

    {April 20th, 2017} by David F. Freeman, Jr., Douglas S. Pelley and Kathleen Wechter

    On April 7, 2017, the Department of Labor (DOL) published in the Federal Register a final regulation1 formally announcing the much anticipated delay of the fiduciary rule. By its terms, the delay moves the rule’s applicability date by only 60 days, from April 10, 2017, to June 9, 2017. Although it is possible that an […]

    ‘Aggressive’ FINRA scrutiny expected as fines soar into multimillions

    {April 20th, 2017} by Kenneth Corbin

    A record year of FINRA enforcement activity heralds heightened scrutiny on a bevy of issues including cybersecurity, anti-money laundering policies and protection for senior clients, legal and regulatory experts caution. Analyzing the regulator’s 2016 enforcement actions, New York law firm Eversheds Sutherland found that while the total number of cases the industry regulator brought last […]

    Will Fiduciary Rule Harm Retirement Savers?

    {April 19th, 2017} by Insured Retirement Institute

    WASHINGTON, D.C., April 21, 2017 — On April 17, the Insured Retirement Institute (IRI) submitted a comment letter to the Department of Labor calling for an extension of the applicability date for the entire Fiduciary Rule until the Department completes the review mandated by President Trump. IRI’s comment letter provides new information showing the Rule […]

    Industry says extended delay of fiduciary rule is necessary to comply with Trump memorandum

    {April 19th, 2017} by Nick Thornton

    Asset managers, broker dealers, record keepers, insurers, and employers will be impacted in different ways under the Labor Department’s fiduciary rule, but the stakeholders almost uniformly agree that its implementation should be further delayed. In comment letters solicited by the agency, BlackRock, Wells Fargo, Empower Retirement, the Insured Retirement Institute, and the Spark Institute were […]

    Insurance agent indicted; accused of scamming elderly woman with dementia

    {April 19th, 2017} by Kelly May

    RIVERSIDE, Ohio (WKEF/WRGT) — An insurance agent has been indicted by a grand jury after prosecutors say she scammed an elderly woman out of nearly $40,000 in cash and annuities. The victim, Mary Newland, has dementia according to her granddaughter Shannon Embs. Embs told Fox 45, that’s one of the reasons she believes her grandmother […]

    Overall Insurance Labor Demand Looks Strong: Jobs Board Firm

    {April 19th, 2017} by Allison Bell

    Insurance agents and financial advisors may feel crushing pressure from changes in compensation models and insurance companies’ strategy. Click HERE to view the original story via ThinkAdvisor.  Especially in the individual health insurance market, agents have been having a hard time persuading insurers to offer sales commissions, or even to pay the commissions already earned. […]

    Agent Commission

    {April 19th, 2017} by Wink's RockStars

    Average Agent Commission, an infographic.      

    Making the nest egg last: best products for senior clients

    {April 18th, 2017} by Warren S. Hersch

    Entering retirement can be a particularly jarring experience for seniors, and not only because they’re leaving behind the familiar world of work. For the change also requires a shift in one’s financial orientation — from savings accumulation to decumulation. Above all, the transition brings into focus one overriding goal: how best to “pensionize” a nest […]

    American Equity Announces Death Of Founder And Chairman David J. Noble

    {April 18th, 2017} by American Equity

    WEST DES MOINES, Iowa–(BUSINESS WIRE)– American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities, is sad to announce that David J. Noble, founder and Chairman of the Board of the Company’s Board of Directors, passed away peacefully in his sleep on April 16, 2017. Mr. Noble founded the American […]

    5 Lessons From the Life of David Noble

    {April 18th, 2017} by Allison Bell

    Click HERE to read the original story via ThinkAdvisor Some business leaders are born in misery and soar to the top through a combination of superhuman brilliance and miraculous force of will. Some business leaders end up at the top because they start at the top. The only way to emulate them is to go […]

    Even supporters of DOL fiduciary rule call for modifications

    {April 18th, 2017} by Mark Schoeff Jr.

    Even supporters of the Department of Labor’s fiduciary rule are still looking to tweak the measure. For instance, the Investment Adviser Association wants the regulation modified so that advisers who are already fiduciaries can promote their services to prospective clients without fiduciary responsibility being attached to the pitch. Click HERE to read the full story […]

    DOL Fiduciary Rule Comment Period Closes

    {April 18th, 2017} by John Hilton

    The Department of Labor wrapped up the latest comment period on its controversial fiduciary rule Monday. The agency began accepting comments March 2 in two phases. Comments were accepted for 15 days on a 60-day delay of the rule. Comments were accepted for 45 days on the rule itself. The 60-day delay was published April 7 […]

    Global Insurance Symposium agenda, registration available

    {April 18th, 2017} by Business Record Staff

    Insurance and technology leaders from around the globe will gather in Des Moines for the 2017 Global Insurance Symposium, April 25-27. The full schedule and session details are now available for the fourth annual conference, which provides a venue for the insurance industry to address important issues impacting the marketplace with a primary focus on technology, policy […]

    Fidelity & Guaranty Ends Deal With Anbang

    {April 18th, 2017} by Sinocast Insurance Beat (China)

    BEIJING, April 18, SinoCast — Fidelity & Guaranty Life, the US annuity and life insurer, has terminated its deal with China Anbang Insurance Group and said it will consider other possible deals. The board of directors of the company is continuing to evaluate other strategic options to maximize the value of its shareholders and the […]

    The 2017 Independent Broker/Dealer Report Card

    {April 18th, 2017} by Diana Britton

    Scores trended down in the 2017 Independent Broker/Dealer Report Card Survey for the second year in a row. While brokers are still largely satisfied with the firms they affiliate with, scores have trended down since 2015, according to WealthManagement.com’s annual Independent Broker/Dealer Report Card. This year, the average satisfaction score was 8.96, down from 9.1 […]

    Men Significantly More Likely to Seek Out Financial Advice Than Women

    {April 18th, 2017} by Country Financial

    BLOOMINGTON, Ill., April 17, 2017 /PRNewswire/ — To coincide with Financial Literacy Month, COUNTRY Financial has released a new study that looks at what Americans seek financial guidance around the most. The findings from the COUNTRY Financial Security Index reveal notable differences between the way men and women seek out financial help, with men far […]

    American Equity Founder Noble passes away

    {April 17th, 2017} by Business Record Staff

    Monday, April 17, 2017 3:00 PM   American Equity Investment Life Holding Co.’s founder and chairman, David Noble, died peacefully in his sleep on Sunday, the company announced today. He was 85. Noble founded the American Equity group of companies in 1995 and served as chairman, chief executive officer, president and treasurer until 2009, when […]

    Management Critic Paulson Won’t Stand for Re-election to AIG Board

    {April 17th, 2017} by David Pilla

    NEW YORK – John Paulson, one of two activist investors elected to American International Group Inc.’s board of directors just over a year ago in a challenge to management’s strategic direction, has decided not to stand for re-election to the board. In AIG’s proxy statement for its annual general meeting, filed with the U.S. Securities […]

    NAIC Tees Up on Annuity Suitability Models

    {April 17th, 2017} by Jim Poolman

    Click HERE to view the original story via ThinkAdvisor The National Association of Insurance Commissioner recently gathered insurance commissioners, industry leaders, regulators and consumer representatives together for the NAIC Spring 2017 National Meeting in Denver. Among the attendees at the NAIC meetings was my group, the Indexed Annuity Leadership Council. IALC is a group for insurance […]

    SIFMA wants a ‘time out,’ seeking longer delay of DOL fiduciary rule

    {April 17th, 2017} by Mark Schoeff Jr.

    The biggest brokerage industry trade association is calling for a longer delay of the Labor Department’s fiduciary rule, while a consumer group concludes that the Trump administration has already decided to revise or repeal the rule. Click HERE to read via InvestmentNews; registration required

    Public Comment Deadline Closes on DOL Review of Fiduciary Rule

    {April 17th, 2017} by Frank Klimko

    WASHINGTON – The window for public comment has closed on the U.S. Labor Department’s new economic and legal analysis on whether the fiduciary rule will hurt investors or make it harder for the retirement services industry to provide advice. The April 17 deadline was the second of two comment periods ordered by the DOL as […]

    Traditional Life Savings Tools ‘Face Extinction’: Consultant

    {April 17th, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvisor The Boston Consulting Group has posted a new video that shows how the world looks now to BCG’s top life insurance strategist in Europe. Walter Reinl, the executive director of BCG’s life insurance practice for continental Europe, works out of Zurich. Before he went to work for BCG, […]

    A.M. Best Upgrades Credit Ratings of the Members of Athene Group

    {April 17th, 2017} by Athene

    Press Release – APRIL 13, 2017 A.M. Best Upgrades Credit Ratings of the Members of Athene Group CONTACTS:   Edward Kohlberg Associate Director +1 908 439 2200, ext. 5664 edward.kohlberg@ambest.com Thomas Rosendale Director +1 908 439 2200, ext. 5201 thomas.rosendale@ambest.com Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com Jim Peavy Director, […]

    5 Ways to Use the New US Life Tables

    {April 16th, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvisor If you help clients with life insurance, or with longevity planning, information about how long people live shapes your world about as much as the Force shapes Luke Skywalker’s. A life insurance policy or annuity contract is really a statistical lightsaber made up of assumptions about mortality and […]

    Important ‘F’ word for investors– fiduciary: OPINION

    {April 16th, 2017} by Donna Skeels Cygan / Invest in Joy

    Despite the endearing advertisements in which the financial industry tries to make you think they are giving you advice that is in your best interest, in many cases, financial professionals simply want to sell you something. Far too often, their profit motive is a higher priority than what is best for you. So, it is […]

    Texas Insurance Commissioner Dies at 60

    {April 16th, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvisor David Mattax, the Texas insurance commissioner, died Thursday, according to Weed-Corley-Fish Funeral Home. Mattax, who was 60, learned he had lung cancer in late 2015, according to the Independent Insurance Agents of Texas. Mattax was appointed to serve as the Texas commissioner in January 2015. He was […]

    We Continue to Fight Against the Fiduciary Rule

    {April 15th, 2017} by Charles R. “Chip” Anderson

    MESSAGE FROM NAFA For over two years, NAFA and the Financial Services industry have been working together to stop the proposed DOL rule. There have been millions of dollars spent on litigation from industry trade groups, insurance companies, IMOs and others including the U.S. Chamber of Commerce in an effort to prevent the rule from […]

    AmeriLife Faces DOL Rule With Two-Track Strategy

    {April 15th, 2017} by Warren S. Hersch

    Click HERE to view the original story via ThinkAdvisor The Trump administration has ordered a 60-day review of the U.S. Department of Labor’s conflict-of-interest rule, but insurance intermediaries continue to prepare to comply with the DOL rule. Many of the independent marketing organizations that distribute indexed annuities are hoping to meet the supervision requirements created […]

    Fiduciary Rule Comments Due By Monday Night

    {April 14th, 2017} by John Hilton

    All public comments on the controversial Department of Labor fiduciary rule must be filed by 11:59 p.m. Monday. The deadline is the second of two put forth by the DOL. The first deadline passed March 17, and was to accept comments on a 60-day delay that was published April 7. Monday’s deadline is on the […]

    Lump Sums Often Die Young: MetLife

    {April 14th, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvsior Some consumers who get a cash windfall from a retirement plan or lawsuit settlement find a way to hang on to the money, but many blow all of the cash quickly. Analysts at a unit of MetLife Inc. reported new data on consumers’ management of lump-sum payouts today. The analysts […]

    Many retirees spend retirement lump sums too quickly

    {April 14th, 2017} by Marlene Y. Satter

    Many retirees who take a lump sum rather than opting for a guaranteed monthly annuity could be asking for trouble — a new study finds that a substantial number of them spend those lump sums within just a few years of retirement. That’s according to the MetLife Paycheck or Pot of Gold study, which finds […]

    What Rising Interest Rates Mean for Annuities

    {April 13th, 2017} by Casey Dowd / The Boomer

    Annuities can serve to be an important leg in your retirement portfolio no matter what the current interest rates are. It is difficult to determine the perfect time to invest in an annuity, but with a projected hike in rates, it might be a good time to weigh the option. “Fixed annuities will appear more […]

    DOL faces tough road in revising or repealing fiduciary rule

    {April 13th, 2017} by Mark Schoeff Jr.

    As the Department of Labor begins to review its fiduciary duty regulation, it faces a daunting road ahead to modify or repeal the measure. Click HERE to read via InvestmentNews; registration required

    Life Insurers Face Steep Q1 Activity Drop: MIB

    {April 13th, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvisor MIB Group Inc. has detected what appears to be a sharp drop in U.S. individual life insurance application activity in the first quarter. The Braintree, Massachusetts-based organization believes life application activity fell 4.5% in the first quarter. Activity dropped 2.1% for consumers ages 60 and older; […]

    Life Expectancy Holds Steady, but Not for 95-Year-Olds

    {April 13th, 2017} by Allison Bell

    The CDC releases new life tables The United States might not become a land full of 120-year-olds after all. Annuity issuers, long-term care insurers and other companies with an interest in extreme longevity have been planning for the possibility of big increases in how long typical Americans, and especially hardy Americans, live. The U.S. Centers for Disease […]

    12 Worst Financial Advisors in America: 2016

    {April 13th, 2017} by Ginger Szala

    Oh, the web those scammers weave to get a fast buck. Here are some of the dirtier dozen from 2016. Oh, the deceitful web scammers weave to make a fast buck. From stealing from the elderly to conning pro athletes, 2016 had its fair share of fraud charges and prison sentences against scammers who acted […]

    Some Young Investors Like Live Human Advisors

    {April 13th, 2017} by Allison Bell

    Click HERE to view the original article via ThinkAdvisor; free registration If you’re trying to court young consumers with assets, the human touch may still give you an edge. Analysts at Jackson National Life Insurance Co. found that only 36% of consumers ages 18 to 35 said they prefer to use the web as their primary source of information about […]

    5 Uses for Life Insurance That Most People Haven’t Thought Of

    {April 13th, 2017} by Scott Hinkle

    Click HERE to view the original article via ThinkAdvisor; free registration Life insurance is a fundamental part of a responsible and reliable financial strategy. While it only takes a little planning for your clients to protect themselves and their families from future instability, shockingly around 49% of the adult population do not have any kind […]

    State insurance commissioners consider strengthening annuity sales rules

    {April 13th, 2017} by Mark Schoeff Jr.

    State insurance regulators are considering strengthening investor protections surrounding sales of annuity products. The National Association of Insurance Commissioners launched an annuity suitability working group April 8 at the organization’s spring meeting in Denver. The panel will review the NAIC’s model regulation for annuity transactions, a measure that was initially adopted in 2006 and revised […]

    Where Are Today’s Industry Recruits?

    {April 12th, 2017} by Jeff Fleischman

    Penn Mutual shares its recruitment philosophy and pitches life insurance as the perfect career for millennials Life insurance is a great career option for millennials – they just don’t think of it that way – yet. Standing at more than 75.4 million strong, millennials have surpassed Baby Boomers as the largest generation in the U.S., according […]

    The Private Pension Plan

    {April 12th, 2017} by Richard Myerson, CPA, CLU, ChFC

    A colleague of mine has a wonderful expression: “tax the seeds, not the harvest.” It certainly makes intuitive sense, regardless of the underlying metaphorical product or service. But it has very special consideration when applied to wealth accumulation options. Consider this: there are only three components to any investment: the deposit, the growth (or gain), […]

    The Retirement Choice Causing Some To Run Out Of Money: OPINION

    {April 12th, 2017} by Richard Eisenberg,

    It turns out, many retirees choosing to take their employer’s 401(k) or pension as a lump sum for retirement are taking their lumps. About a fifth of retirement plan participants (21%) MetLife surveyed who received their pensions or 401(k)s as lump sums depleted that money — in just 5½ years, on average. And among those […]

    Language Matters Even More When It Comes to Annuities

    {April 12th, 2017} by John Manganaro / EDITORS@ASSETINTERNATIONAL.COM

    An executive with MetLife urges plan sponsors and advisers to avoid talking about annuities “as if they were an investment option … they aren’t really an investment.” Roberta Rafaloff, vice president, institutional income annuities, MetLife, clearly spends a lot of time in the complex world of retirement income planning products. She recently told PLANADVISER her […]

    Do boomers know how to handle RMDs?

    {April 12th, 2017} by Marlene Y. Satter

    Boomers have been saving toward retirement for years—those who have been able to save, anyway—but while they may be somewhat prepared financially for retirement, that doesn’t mean they know what to do about required minimum distributions. Thus, they may not really be all that ready. According to Olivia Mitchell, executive director of the Pension Research […]

    DOL’s Fiduciary Rule: On the Road to More Change?

    {April 12th, 2017} by Evelyn Haralampu

    [co-author: Taz Islam] The latest chapter in the 6-1/2 year history of the Department of Labor (DOL) final Fiduciary Rule is a 60-day delay of part of the final regulations, and a delay until January 1, 2018 for certain disclosures and other requirements of class exemptions affecting compensation primarily of investment advisers to retirement savings. […]

    Dear Advisors, Four in 10 Say They Need $1 Million To Retire Happy

    {April 12th, 2017} by Brian O'Connell

    Here’s an “uphill climb” in the making for financial specialists. About 40 percent of U.S. career professionals estimate they’ll need $1 million to “retire comfortably,” according to a new Employee Benefits Research Institute study. Yet the average 401(k) balance at Fidelity-administered retirement plans is only $92,500 in 2017, according to the company. (Although that figure […]

    NAIFA Launches Video Series

    {April 12th, 2017} by Allison Bell

    Click HERE to view the original story via ThinkAdvisor The National Association of Insurance and Financial Advisors aims to strengthen its influence in Washington and state capitals with a new web-based video series. NAIFA has started producing NAIFA Take 3, a series of short video segments about issues of interest to insurance agents and financial […]

    Will Edward Jones’ New Ads Lure Experienced Advisors?

    {April 12th, 2017} by Janet Levaux

    The firm wants to recruit more veteran advisors, but recruiters say its campaign may not be enough Click HERE to view the original story via ThinkAdvisor While the Internet is full of posts about the failed Pepsi commercial (and United Airlines’ aggressive “customer service”), considerably less attention is being given to Edward Jones’ new advertisement, […]

    F&G Life Net Income Soars On Life And Annuity Sales

    {April 12th, 2017} by Cyril Tuohy

    Fidelity & Guaranty Life first quarter fiscal year net income soared 125 percent to $108 million on the strength of life and annuity sales and investment income. The company said it had profit of $1.85 per share. Earnings, adjusted for non-recurring gains, came to 70 cents per share. “We’ve delivered another strong quarter and fiscal […]

    NAIC Cybersecurity Panel Asked to Consider Using New York Rule After Draft Fails to Gain Consensus

    {April 12th, 2017} by Thomas Harman

    DENVER – After three attempts at developing an insurance data security model act that failed to gain consensus, the chairman of a National Association of Insurance Commissioners panel said he’s listening to all suggestions — including New York’s new cybersecurity rule. New York insurance Superintendent Maria Vullo, speaking at the NAIC’s Spring National Meeting, asked […]

    Just When You Thought It Was Over APRIL 2017

    {April 12th, 2017} by John Hilton

    Success was arching upward year to year for Bob Phillips’ firm, but the dotted line for the future of the independent marketing organization is looking less like an arc and more of a question mark. Because that’s where the line collides with the Department of Labor’s fiduciary rule. Fewer producers are working with the 4-year-old […]

    Top Two IUL Sellers Trade Places in 4Q

    {April 11th, 2017} by Cyril Tuohy

    Pacific Life bested rival Transamerica as the top seller of indexed universal life (IUL) insurance sales in the fourth quarter 2016. Meanwhile, Allianz Life broke through into the top-10 list, industry tracker Wink’s Sales & Market Report reported. The IUL market was an active one last year with sales hitting a record $1.86 billion. Fourth-quarter […]

    Five leaders to be inducted into Iowa Insurance Hall of Fame

    {April 11th, 2017} by Business Record Staff

    Three Greater Des Moines insurance executives are among the newest five inductees into the Iowa Insurance Hall of Fame. The insurance leaders who will be inducted into the hall of fame are: Albert Falkenhainer, founder of Pharmacists Mutual (posthumously). John Forsyth, chairman and CEO of Wellmark Blue Cross and Blue Shield.  J. Barry Griswell, retired […]

    Hundreds of life policies found in locator service’s first six months

    {April 11th, 2017} by Business Record Staff

    A life insurance policy locator developed by the National Association of Insurance Commissioners is helping reconnect beneficiaries with unclaimed life insurance policies. In its initial six months, the service has matched nearly 1,800 beneficiaries with lost or misplaced life insurance policies or annuities, totaling more than $17 million returned to consumers as of April 1. The strong […]

    Brighthouse Financial Unveils First Major TV Commercials

    {April 11th, 2017} by Allison Bell

    A unit of MetLife Inc. is launching a major television advertising campaign that will highlight the idea of establishing predictability in retirement. The unit, Brighthouse Financial, has adopted a green and teal logo. MetLife, which is based in New York, has started the process of turning Brighthouse Financial into a separate company with headquarters in Charlotte, North Carolina. […]

    5 New Things to Know About Living Too Long

    {April 11th, 2017} by Allison Bell

    Click HERE to view the original story at ThinkAdvisor; free registration Living longer than expected can throw off your clients’ financial projections. Unexpected increases in annuity holder longevity can also throw off the annuity issuers’ own financial projections. The Life Risk-Based Capital Working Group, part of the National Association of Insurance Commissioners, is thinking about ways to include longevity risk […]

    Nationwide Tests Web-Based Program: Annuity Products

    {April 11th, 2017} by ThinkAdvisor

    Click HERE to view the original article at ThinkAdvisor Nationwide is testing a web-based retirement savings product sales program in Arizona. The program, Guaranteed Retirement Income from Nationwide, will offer fixed annuities to Arizona residents ages 35 to 70. The purchasers can contribute $120 to $12,000 per year for 15 years, or until they turn […]

    Survey Says: Most Investors Value Fiduciary Advice, Don’t Want to Pay

    {April 11th, 2017} by Brian O'Connell

    Here’s a conundrum for advisors meeting fiduciary standards: roughly two-thirds of investors say they really want good, conflict-free fiduciary advice, yet few are willing to pay extra for it. That begs a serious question for the financial services sector – how can they convince investors it’s worth more money for fiduciary investment advice? The two-thirds […]

    DOL Not Backing Down From Fiduciary Rule, Analysts Say

    {April 11th, 2017} by John Hilton

    While the Department of Labor delayed the controversial Obama-crafted fiduciary rule for 60 days, it also expressed surprising support for the regulation. “The DOL clearly does not back down from the Fiduciary Rule and exemptions as a general matter,” wrote Drinker Biddle & Reath in a client alert. The 60-delay was published Friday in the […]

    New ‘Immediate Need’ Annuity Listed on Exchange

    {April 11th, 2017} by Cyril Tuohy

    Agents and financial advisors in the market for a medically underwritten single premium immediate annuity will be able to model income estimates for Genworth Financial’s new product listed on the CANNEX Income Annuity Exchange. Genworth’s Income Assurance Immediate Need Annuity, launched last year, offers lifetime monthly income for less healthy buyers between the ages of […]

    Could FIAs Break Advisors’ Hearts?

    {April 11th, 2017} by Cyril Tuohy

    Dear agents and advisors: We’ve had a great run, but we don’t know if we can keep up the pace. Sales hit a record last year, but by a smaller percentage increase than the previous year. OK, that’s all for now. Got to run … See you soon! Signed: Fixed indexed annuities (FIAs). Could 2017 […]

    Annuity Pay Index Rises

    {April 11th, 2017} by Cyril Tuohy

    Rising interest rates have helped push payment yields for income annuities to their highest levels in nearly six months, according to an annuity pricing and analysis service. A person investing $100,000 into an immediate income annuity on March 29 can expect to receive, on average, about $530 per month for a yield of 6.37 percent. […]

    Insurance Regulators May Update Annuity Sales Model Amid DOL Fiduciary Rule Uncertainty

    {April 10th, 2017} by ThinkAdvisor

    Click HERE to view the original story on ThinkAdvisor; free registration.   State governments may respond to uncertainty about the U.S. Department of Labor fiduciary rule by updating their own annuity sales standards. A new Annuity Suitability Working Group is deciding whether the National Association of Insurance Commissioners should update the NAIC’s Suitability in Annuity […]

    Fiduciary rule’s delay triggers new headaches for firms

    {April 10th, 2017} by Andrew Welsch

    PHOENIX ― The Department of Labor’s 60-day postponement of the fiduciary rule ― just a week before the regulation was due to be implemented ― may have created more problems for the industry than it solved. On one side, fiduciary advocates are pushing back, arguing that the regulation is a much needed investor protection that […]

    RIN 1210-AB79– Comments on Proposed Delay of Conflict of Interest Rule Applicability Date

    {April 10th, 2017} by Chip Anderson

    A big “THANK YOU” for the tremendous response from NAFA’s supporters on our last request to send your message to the DOL supporting the delay of the fiduciary rule.   Over 2,160 emails and letters were sent to the DOL in response to NAFA’s request last month – your voices have been heard!! On April 5, […]

    Advisers profit through association with Dave Ramsey — but not by as much as in the past

    {April 8th, 2017} by Bruce Kelly

    Popular radio show host changed his referral program due to ‘perceived’ regulatory risk among advisers.  Click HERE  to view the story at InvestmentNews; registration required

    DOL Hints at Regulatory ‘Relief’ for Indexed Annuities

    {April 7th, 2017} by Kerry Pechter

    When the Obama Department of Labor’s fiduciary rule, with little warning, decided last year that agents who sold indexed annuities couldn’t take commissions from insurers without signing the legally-binding “Best Interest” pledge to their clients, the $60 billion a year indexed industry went into fibrillation. But the Trump DOL’s April 3 letter on the rule […]

    New York Life Delivers Strong 2016 Financial Results

    {April 7th, 2017} by New York Life

    NEW YORK–(BUSINESS WIRE)– New York Life Insurance Company today announced outstanding financial results for 2016, setting company records in life insurance and annuity sales, life insurance in force1, dividend payout, and surplus. The performance of the company’s core life insurance business and its strategic businesses, including its annuities and asset management operations, enabled New York […]

    America at a ‘Financial Flashpoint’: Northwestern Mutual

    {April 7th, 2017} by Emily Zulz

    Click HERE to view the original story at ThinkAdvisor; free registration Are Americans more confident now or eight years ago? According to a study by Northwestern Mutual, the financial state of America is a good news/bad news scenario. The study finds that Americans believe economic stability has improved, yet their conviction in “the American Dream” […]

    How to define yourself as a life insurance adviser

    {April 7th, 2017} by Barry Flagg

    Over the course of my career, I learned that if I didn’t define myself, then I was defined by what others said about me. Life insurance advisers distinguish themselves as advisers by first defining their role and responsibilities on the planning team. For instance, in a real-life case last month, a client was considering the […]

    Total Overall Indexed Annuity Sales (2016)

    {April 7th, 2017} by Jamie Johnson

    We have tracked indexed annuity sales by insurance carrier each year since 1998 in our quarterly Wink’s Sales & Market Report. Did you know that All-Time sales for indexed annuities through 2016 are over $507.9 billion according to Wink’s Sales & Market Report?! Wow!! A few years ago we thought it would be interesting to compile the […]

    Fiduciary rule delay offers industry substantial short-term relief

    {April 6th, 2017} by Nick Thornton

    The Labor Department’s decision to delay the fiduciary rule’s original April 10 implementation date by 60 days gives the financial services industry considerable short-term relief, according to industry insiders. Beginning June 9, 2017, industry will have to comply with the rule’s impartial conduct standards, which requires that advice must be in retirement investors’ best interest, […]

    Apollo Said to Seek $2.1 Billion for Athene Dealmaking in Europe

    {April 6th, 2017} by Sonali Basak

    Apollo Global Management LLC is seeking 2 billion euros ($2.1 billion) to help annuity seller Athene Holding Ltd. expand in Europe through takeovers, according to a person familiar with the plan. The private equity firm is approaching institutional investors and will also contribute its own funds to the venture as will Bermuda-based Athene, said the […]

    Apollo seeks $2.1 billion for Athene expansion in Europe

    {April 6th, 2017} by Business Record Staff

    Apollo Global Management LLC is seeking 2 billion euros ($2.1 billion) to help annuity seller Athene Holding Ltd. expand in Europe through takeovers, according to a person familiar with the plan, Bloomberg reported. The private equity firm is approaching institutional investors and will also contribute its own funds to the venture as will Bermuda-based Athene Holding, […]

    Article Takes on Myth that Annuities Don’t Belong in IRAs

    {April 5th, 2017} by Marketwired

    MEDFORD, OR–(Marketwired – April 05, 2017) – Buying an annuity within your IRA or Roth IRA can be a smart move according to a recent article in the Yonkers Tribune. “Despite the conventional wisdom, it often makes perfect sense to use an annuity in an IRA,” writes Ken Nuss, CEO of AnnuityAdvantage, an online annuity […]

    Opponents troubled by mere 60-day delay of DOL fiduciary rule

    {April 5th, 2017} by Mark Schoeff Jr.

    Financial industry opponents of the Department of Labor’s fiduciary rule can’t seem to get what they want when it comes to stopping the measure. On Tuesday, the agency released a final rule that delays implementation of the fiduciary regulation for 60 days, pushing it from April 10 to June 9. In doing so, however, it […]

    RIAs say DOL rule delay doesn’t matter because industry is moving toward fiduciary anyway

    {April 5th, 2017} by Jeff Benjamin

    Independent financial advisers are generally shrugging off the Department of Labor’s 60-day delay of its fiduciary duty regulation, suggesting that the proverbial horse is already out of the barn. “The delay is just delaying the inevitable,” said Shawn Blau, managing member at ATR Advisors. “Irrespective of the DOL, the industry is moving toward requiring a […]

    Advisers underwhelmed by LinkedIn’s matching tool

    {April 5th, 2017} by Liz Skinner

    Financial advisers award LinkedIn’s Pro-Finder service a poor grade so far in terms of helping them identify worthy prospects who have become clients. But they’re not giving up hope on the business development tool. About a year ago LinkedIn began piloting the new feature aimed at connecting its members with financial advisers. The company also […]

    Pacific Life Announces Officer Promotions

    {April 5th, 2017} by Business Wire

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)– Pacific Life Insurance Company has announced eight new officer promotions, effective April 1. David Chang to Vice President, Enterprise Risk Management, Corporate As vice president of enterprise risk management, Mr. Chang is responsible for the development of strategies, policies, and standards for managing market risks across the enterprise. His responsibilities include […]

    Consider Fixed Annuities for Your Client’s Fixed-Income Portfolio

    {April 5th, 2017} by Ken Nuss

    Click HERE to view the original story via ThinkAdvisor; free registration While most experienced agents and advisors know a great deal about annuities, newer financial pros just starting to work with annuities may not know about all their advantages. And it doesn’t hurt for experienced agents to have a refresher.  Fixed annuities can substitute for […]

    Former Athene CFO elected to American Equity board

    {April 5th, 2017} by Business Record Staff

    Brenda Cushing, former chief financial officer of Athene USA, has been elected by the board of American Equity Investment Life Holding Co. as a non-employee director, and has also been appointed to the audit committee. She fills the vacancy created on the board by the death of Harley Whitfield Sr. Cushing’s initial term will expire on the […]

    DOL releases final rule delaying fiduciary implementation

    {April 4th, 2017} by Mark Schoeff Jr.

    Under the delay measure, which was posted on the Federal Register website, the fiduciary rule’s April 10 applicability date is pushed back to June 9th. Click HERE to read the full story via InvestmentNews; registration required

    Athene USA Gains in Indexed Annuity Tables in 4Q 2016

    {April 4th, 2017} by Cyril Tuohy

    Click HERE to view the original story via INN; subscription required Athene USA rose six notches to the No. 2 position in indexed annuity sales for the fourth quarter 2016, according to industry tracker Wink’s Sales & Market Report. In April last year, Athene USA announced that its Athene Performance Elite fixed indexed annuity would be […]

    Income Riders Rescue Fixed Annuities

    {April 4th, 2017} by Cyril Tuohy

    A flood of new income riders attached to fixed annuities has helped fuel a boom and powered the product segment to record sales of $117.4 billion last year, annuity product experts and analysts said this week. The income riders have suddenly made plain vanilla fixed annuities newly attractive to agents looking to sell the product under the […]

    5 California Annuity Bills to Watch

    {April 4th, 2017} by ThinkAdvisor

    Republicans now control the government of the United States, a country with about $19 trillion in gross domestic product. Democrats control the government of California, a state that has about $2.7 trillion in gross state product, according to U.S. Census figures. Just as Republicans are in charge of the White House, the House and the […]

    Wink, Inc. Releases 4th Quarter, 2016 Non-Variable Deferred Annuity Sales Results

    {April 4th, 2017} by Press Release

    — FOR IMMEDIATE DISTRIBUTION —  NEWS RELEASE INDEXED ANNUITY SALES HAVE RECORD YEAR Wink, Inc. Releases 4th Quarter, 2016 Non-Variable Deferred Annuity Sales Results Pleasant Hill, Iowa. March 29, 2017- Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity sales data since 1997, expanded in 2015 for all non-variable deferred annuities […]

    DOL Fiduciary Rule Winners and Losers

    {April 3rd, 2017} by ThinkAdvisor

    As the Department of Labor at press time continued to grapple with whether to delay the effective date of its fiduciary rule (the consensus: a delay from the original April 10 date to June 9), industry players and lawmakers were busy telling Labor in comment letters why such a delay was warranted — or not. […]

    Brighthouse Financial Kicks Off Next Phase of Brand Launch with a Focus on Predictability in Retirement

    {April 3rd, 2017} by Brighthouse Financial

      CHARLOTTE, N.C.–(BUSINESS WIRE)– Brighthouse Financial, an operating segment of MetLife, Inc. (MET), today kicks off the next phase of its brand launch with the debut of its first broadcast advertising campaign. The premiere of the “Predictability” television commercials supports a multi-platform campaign to introduce Brighthouse Financial. In March 2017, Brighthouse Financial began using its […]

    ALM’s ThinkAdvisor Launches Life/Health Channel

    {April 3rd, 2017} by ALM

      NEW YORK, April 3, 2017 /PRNewswire/ — ALM announces that it has expanded its life and health insurance coverage and reporting under its ThinkAdvisor flagship brand. The new Life/Health channel under ThinkAdvisor features a dedicated e-newsletter lineup and social media community for the life and health insurance audience which builds on the comprehensive coverage previously […]

    Non-variable annuity sales decline in fourth quarter

    {April 3rd, 2017} by Business Record Staff

      Nonvariable deferred annuity sales declined in the fourth quarter of 2016, according to the latest Wink’s Sales & Market Report. In the fourth quarter of 2016, total non-variable deferred annuity sales — which include indexed annuity, traditional fixed annuity and multi-year guaranteed annuity (MYGA) sales — were $21 billion, down nearly 8 percent from […]