Some broker-dealers changing indexed-annuity compensation due to DOL fiduciary rule
April 25, 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.
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“There are still a lot of broker-dealers out there who say they’re not responsible for fixed insurance product sales,” said Sheryl Moore, president and CEO of Moore Market Intelligence, a market research firm. It causes “a lot more headaches” for brokerage firms to do otherwise from a due diligence and monitoring standpoint, she said.