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Archive for June 2017


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  • A.M. Best Affirms Credit Ratings of American Equity Investment Life Insurance Company and Its Subsidiaries

    {June 30th, 2017} by Best's News Service

    Oldwick – A.M. Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of American Equity Investment Life Insurance Company (AEILIC) and its subsidiaries, American Equity Investment Life Insurance Company of New York (Lake Success, NY) and Eagle Life Insurance Company, collectively referred to […]

    DOL Releases Fiduciary Rule Request for Information

    {June 30th, 2017} by Melanie Waddell

    The Department of Labor on Thursday published a Request for Information (RFI) regarding its fiduciary rule. Information gleaned from comments “could form the basis of new exemptions or changes/revisions” to the fiduciary rule and its associated prohibited transaction exemptions, or PTEs, Labor said, as well as the possibility of extending the Jan. 1 applicability date […]

    MetLife Gets Board and State Regulator OK for Brighthouse Spinoff

    {June 30th, 2017} by Allison Bell

    MetLife Inc. is getting closer to spinning its Brighthouse Financial unit off as a separate company. If the Securities and Exchange Commission approves the Brighthouse unit’s securities registration statement quickly, investors who own MetLife stock on July 19 could get Brighthouse stock Aug. 4. Click HERE to view the original article for ThinkAdvisor.  An investor […]

    DOL Kicks Off New Fiduciary Rule Comment Period

    {June 30th, 2017} by Joe Morris

    By Joe Morris June 30, 2017 The Labor Department is launching a new call for comment on the fiduciary rule, raising the prospect of a further implementation delay and further potential changes to when and how the controversial best interest contracts must be used, reports Ignites.  Click HERE to view the original story via Life Annuity […]

    Aegon Completes Sale of Majority of US Run-Off Businesses

    {June 30th, 2017} by United Business Media

    Aegon has successfully completed its transaction with Wilton Re to divest its two largest US run-off businesses, the payout annuity business and the Bank Owned / Corporate Owned Life Insurance business (BOLI/COLI). The transaction is consistent with the company’s stated strategic objective to reduce the amount of capital allocated to its run-off businesses.   Under […]

    New AIG Chief: Let’s Make a Deal

    {June 30th, 2017} by Leslie Scism

    American International Group Inc.’s new chief executive Brian Duperreault  said Wednesday he is open to slowing down the firm’s share buybacks and instead using the capital for acquisitions. “Shareholders want to see value creation,” he said to reporters following the company’s annual meeting. “If I can present them something that is better value creation than a share buyback, […]

    MetLife board approves Brighthouse spinoff, sets effective date

    {June 30th, 2017} by Suzanne Barlyn

    MetLife Inc (MET.N) on Thursday came a step closer to spinning off its U.S. retail life insurance and annuity business after the company’s board of directors approved the plan, it said on Thursday. The board set July 19 as the effective date for the spinoff of Brighthouse Financial Inc, with shares to be distributed on […]

    Prudential Cuts Fees Across 11 VA Funds

    {June 30th, 2017} by Grace Jennings-Edquist

    Prudential has cut investor costs on a number of actively managed funds sold through the firm’s variable annuity products in a move that could reflect the dampening impact of the Department of Labor’s fiduciary rule on sales of such products, one industry analyst notes. So reports Ignites.  Click HERE to view the original story via […]

    Allianz Life to Sell Record Volume of Index VA in 2Q

    {June 30th, 2017} by Cyril Tuohy

    A pair of new index variable annuities launched last month are expected to help Allianz Life Insurance sell a record volume of the product in the second quarter, a company product expert said Tuesday. The second quarter ends Friday. The company sold over $420 million worth of indexed variable annuities in the first quarter and […]

    How Children With Diabetes Can Be Approved For Life Insurance

    {June 30th, 2017} by Matt Schmidt

    Every parent wants their child to have a secure financial future. With so much uncertainty in our world, more parents are considering purchasing life insurance policies for themselves so that their children are provided for in the event of an untimely passing. But it is less often that parents consider how their lives would be […]

    A.M. Best Affirms Credit Ratings of Oxford Life Insurance Company and Its Subsidiaries

    {June 29th, 2017} by Best's News Service

    Oldwick – A.M. Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long Term ICR) of “a-” of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ) and its subsidiary, Christian Fidelity Life Insurance Company (Christian Fidelity) (Dallas, TX), collectively referred to as Oxford Group. A.M. Best also […]

    Independent Advisors Stare at an Uncertain Future, Experts Say

    {June 29th, 2017} by Cyril Tuohy

    Fee-based registered financial advisors (RIA) and dually-registered advisors are rapidly pulling away from their commission-based independent representative peers with securities licenses, according to an industry consultant. There are an estimated 100,000 independent reps and another 20,000 to 30,000 RIAs operating in the independent channel in the U.S. today. “I would argue this industry is separating […]

    Roundup: Ameriprise Wins ‘Fiduciary Case’ Before Pa. Supreme Court

    {June 29th, 2017} by Alex Padalka

    View the original story at Roundup: Ameriprise Wins ‘Fiduciary Case’ Before Pa. Supreme Court An advisor who sold an underfunded life insurance policy did not breach fiduciary duty, the Pennsylvania Supreme Court has ruled. The decision represents a legal victory for Ameriprise Financial, which employed the advisor at the time of the disputed action. In […]

    SEC, DOL to Cooperate in Fiduciary Rule Review

    {June 29th, 2017} by Jill Gregorie

    In separate Senate panels on Tuesday, SEC Chair Jay Clayton and DOL Secretary Alexander Acosta expressed the need for the two agencies to work together in reviewing the fiduciary rule. In particular, the Securities and Exchange Commission plans to coordinate with the Labor Department to review and potentially revise the regulation, since the DOL’s actions […]

    Nationwide Rolls Out Concierge Desk for VA Holders

    {June 29th, 2017} by Warren S. Hersch

    Variable annuity providers are given to touting guarantees and living benefits that help clients realize their retirement dreams. Generally not part of the package are services that can aid in navigating thorny issues during one’s golden years. The latter is now on offer from Nationwide. The Columbus, Ohio-based carrier has debuted a package, Nationwide Concierge […]

    Jackson, Lincoln, Prudential Products Among Barron’s 50 Best Annuities

    {June 29th, 2017} by Warren S. Hersch

    Jackson National, Lincoln National and Prudential Financial are on the short list of A+-rated carriers offering the highest payouts of variable annuities with income guarantees, according to new research from Barron’s. The business publication unveils this finding in a June cover story that provides a breakdown of 50 top-paying annuities, listing three or four for […]

    Insurers Deploy Zombies, Free Beer to Woo Talent

    {June 29th, 2017} by Jay Cooper

    Zombie videos, Ferris wheels, graphic novels, “happiness gurus” and free beer … It’s anything goes as insurers seek creative ways to find new talent and dispel the notion that their industry isn’t a fun one to work in. So reports The Wall Street Journal. Given the wave of employees headed for retirement, insurers have little […]

    Advisers find hidden opportunities in the fiduciary rule

    {June 29th, 2017} by Kenneth Corbin

    Weeks after its implementation date, the fiduciary rule enjoys broad support among clients as well as advisers. What’s more, planners report they’re seeing a boost to the bottom line. That silver lining is a direct result of how firms responded to the regulation. Companies introduced new employee training programs, compensation structures, and technology systems among […]

    FP50 2017: Which IBDs have the most women advisers?

    {June 29th, 2017} by Ann Marsh

    FP50 2017: Which IBDS have the most women advisers? With women advisers making up well under a third of the workforce at independent broker-dealers, Triad Advisors had the highest percentage of females in its network at 30.5% last year. This year, however, a new leader has emerged, Geneos Wealth Management with 35%. Triad for its […]

    Nationwide providing new resources to advisors to help clients navigate life in retirement

    {June 29th, 2017} by Nationwide

    COLUMBUS, Ohio, June 26, 2017 /PRNewswire/ — One of the biggest challenges many retirees face is simply navigating life in retirement. While financial advisors can provide a roadmap to fulfill financial needs, many can’t help when their clients bring up life challenges – such as finding a home for elderly parents, resolving healthcare issues and accessing […]

    Freitag to Oversee Lincoln Life Unit: Insurance People

    {June 29th, 2017} by Allison Bell

    Financial services market forces and the aging of the baby boomers continue to reshape the leadership teams at U.S. life insurance, health insurance, and annuity issuers. Lincoln Financial Group showed how much interest rates and other investment and accounting trends are affecting the life sector earlier this month by naming Randal Freitag, the company’s chief financial […]

    How Netflix, Amazon and Millennials Impact Insurance Sales Online

    {June 29th, 2017} by Juliette Fairley

    Some 93 percent of people 25 years and younger are willing to buy insurance online compared to only 63 percent of people 26 and older, according to a new Celent report called “The Online Consumer: Reading the Insurance Customer’s Mind.” “Insurance consumers are influenced by what they see and experience in other channels like Amazon, […]

    SEC Candidate Favors New Life Regulatory Strategy

    {June 29th, 2017} by Allison Bell

    Financial services policy watchers are expecting President Donald Trump to nominate Hester Peirce to fill an open seat on the U.S. Securities and Exchange Commission. If Peirce joins the SEC, she could increase the agency’s overall level of interest in insurance regulation.  Peirce is a senior research fellow at the Mercatus Center, an arm of George Mason […]

    Allianz, AXA, MetLife, Voya, Nab Perfect LGBT Equality Scores

    {June 29th, 2017} by Warren S. Hersch

    Thirty-six insurers, most of them life insurance and annuity manufacturers, are represented in a list of more than 500 employers deemed to offer LGBT-friendly workplaces, according to new research. The Human Rights Campaign (HRC) Foundation highlights this finding in its Corporate Equality Index 2017. Now in its 15th iteration, the annual report rates workplaces on […]

    When Given Chance, Young Women Warm To Working In Financial Industry

    {June 29th, 2017} by Christopher Robbins

    Kathleen Powers Dunlap was looking for 60 young women interested in asset management. She found 1,500. “It was a surprise. We’ve read and heard  a great deal about how women aren’t gravitating towards careers in asset management, so we thought we would have to do a sales job to get more women interested,” says Powers […]

    DOL Rule Accelerating Tech Transformation at Annuity Carriers

    {June 28th, 2017} by Jamie Johnson

    Simplified and more dynamically priced products, a digital revamping of customer-facing and back office functions, and a narrowing of product focus are among the big changes expected in the wake of the June 9 rollout of the Department of Labor’s Conflict of Interest Rule. The source of this forecast: Chris Eberly, VP of research and […]

    Insurance Is the Hot New Way to Avoid Taxes

    {June 28th, 2017} by Sonali Basak and Tom Metcalf

    The new hot thing in tax avoidance has a boring old name: insurance dedicated funds. Introduced in the 2000s, IDFs have become so mainstream that banks such as JPMorgan Chase & Co. and Goldman Sachs Group Inc. are offering them. Hedge funds like Paulson & Co. and Israel Englander’s Millennium Partners LP have been managing them […]

    DOL Best Interest Contracts Could Cause Surge in State Litigation

    {June 27th, 2017} by Emile Hallez

    State-level litigation against brokers could begin to ramp up next year, if the Department of Labor’s best interest contract exemption rule goes into full effect, reports Ignites. An increase in lawsuits in all 50 states would be expected, since the new written agreements could lay the grounds for breach-of-contract claims from IRA investors, several lawyers […]

    IMOs Have Tricky Path To Sales Under DOL Rules

    {June 27th, 2017} by John Hilton

    Insurance marketing organizations (IMOs) are playing a guessing game while selling annuities under the Department of Labor fiduciary rules, experts say. The issue is how to sell variable and fixed indexed annuities for the remainder of the year. Phase one of the DOL rules went into effect June 9, but with two “transition” exemptions: the […]

    10 rules to remember for LGBT retirement planning

    {June 27th, 2017} by Marlene Y. Satter

    The LGBT community has always faced unique challenges—physical, emotional and financial. And despite the fact that the Defense of Marriage Act was struck down, there are still plenty of legal obstacles for transgender, lesbian and gay couples—some of them surfacing just in time for retirement. In honor of Pride Month, we’ve combed resources and explored […]

    40 under 40, Passion Fuels the Future

    {June 27th, 2017} by InvestmentNews

    These are the advice industry’s future leaders: http://www.investmentnews.com/section/40-under-40/2017?issuedate=20170622&sid=40under402017

    AmeriLife Group Partners with FAST to Administer Annuities

    {June 27th, 2017} by FAST

    June 19, 2017 03:59 PM Eastern Daylight Time ISELIN, N.J.–(BUSINESS WIRE)–FAST announced today that AmeriLife Group is in production with FAST Insurance Components to provide new business and policy administration support for AmeriLife’s proprietary annuity business. The implementation project, which took less than eight months using a team of seven people from FAST, included conversion […]

    States Pushing Fiduciary Rule Standards (With Success)

    {June 27th, 2017} by John Hilton

    While industry attention remains laser-focused on the Department of Labor fiduciary efforts, states are sneaking into the regulation game with bold moves. Nevada surprised industry insiders by quickly debating and passing Senate Bill 383 revising the Nevada Securities Act to stiffen the fiduciary standard. The bill states that any “broker-dealer, sales representative, investment advisor or […]

    Life Insurance? Glad You Asked

    {June 27th, 2017} by Dick Weber

    We often learn about money and finances from our parents, but absent a formal education on how the economy works and how to find our place in that economy, a person’s financial knowledge is largely hit-or-miss. This is especially true when it comes to assessing life’s risks. We start out absorbing the financial consequences of […]

    DOL fiduciary rule: When advisers actively seek to use BICE

    {June 27th, 2017} by Greg Iacurci

    To opponents of the Department of Labor’s fiduciary rule, the best-interest contract exemption is something akin to the spawn of Satan. This provision of the rule, which raised investment advice standards in retirement accounts, allows broker-dealers to continue providing investment advice deemed conflicted by the DOL, but under certain conditions. Click HERE to view the […]

    All-women agency: a rarity and a success

    {June 27th, 2017} by Sam Boyer

    Capitol Special Risks is a rarity in insurance – in fact, it’s beyond rare. It’s a needle in a haystack, it’s a unicorn, it’s Moby Dick. The wholesaler is entirely female-run and female-staffed. And in the male-dominated insurance industry, it doesn’t get much rarer than that. Company president and co-founder Dorothea Westin spoke with Insurance […]

    New Nevada law imposes fiduciary duty on brokers

    {June 27th, 2017} by Mark Schoeff Jr.

    Brokers in Nevada will have to meet a fiduciary standard when providing investment advice under a law that will take effect July 1. The measure revises a current fiduciary law applying to “financial planners” that excluded brokers and investment advisers. The new law subjects brokers and advisers to the state’s fiduciary rule. Click HERE to […]

    SEC Chairman promises action on fiduciary rule

    {June 27th, 2017} by Kenneth Corbin

    SEC Chairman Jay Clayton pledged to move forward on the fiduciary rule in a “coordinated” process with the Department of Labor. Clayton presented the agency’s trimmed-down $1.6 billion budget request before a Senate subcommittee Tuesday, noting more than half would pay for enforcement and examinations. The SEC and Labor Department must work together on “the […]

    RIAs, Don’t Assume You’re Already in Compliance With DOL Fiduciary Rule

    {June 27th, 2017} by Ric Edelman

    If you’re like many RIAs, you take pride in the fact that you always act in the best interests of your clients. You don’t sell high-commission products like nontraded REITs or equity index annuities. So you might be assuming that the Department of Labor’s fiduciary rule, which begins its phased implementation on Friday, doesn’t apply […]

    A.M. Best Briefing: Opposition to Department Of Labor’s Fiduciary Rule Continues Despite Initial Implementation

    {June 27th, 2017} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–The delayed initial compliance deadline for the Department of Labor (DOL) fiduciary rule has passed, and as a result, portions of the rule have become effective immediately, including the Best Interest Contract Exemption (BICE), the Class Exemption for Principal Transactions (CEPT) and final regulations specifying who is a fiduciary. A new Best’s Briefing, […]

    A Victory for Florida Life Insurance Consumers

    {June 27th, 2017} by Robin S. Weinberger and Peter N. Katz

    The Florida legislature recently passed H.B. 1007, a comprehensive bill intended to combat insurance fraud. One important provision of the bill requires that insurance consumers be advised of their options before making changes to a life insurance policy. The new law now awaits the governor’s signature or, unless vetoed, automatically becomes law 15 days after […]

    Labor’s Alexander Acosta and SEC’s Jay Clayton tell lawmakers they will work together on fiduciary rule

    {June 27th, 2017} by Mark Schoeff Jr.

    Labor Secretary Alexander Acosta and Securities and Exchange Commission Chairman Jay Clayton told lawmakers on Tuesday that their agencies would work together on investment advice regulation. In separate appearances before Senate panels, the two regulators stressed the cooperation that Republican legislators and opponents of the DOL fiduciary rule are demanding. Click HERE to view the […]

    How the Fiduciary Rule Affects Ordinary Clients

    {June 27th, 2017} by Brian O'Connell

    The DOL Fiduciary Rule is at least partially now in effect, and, until now, the overarching question has focused how the new rule will impact financial advisors. But hold the phone – shouldn’t the real question be how the new rule impacts the ordinary investor? The answer to that question is a resounding “yes,” especially […]

    3 Alternative Ways To Hedge Against A Market Downturn

    {June 27th, 2017} by David Goodboy, StreetAuthority

    What an ideal time to be in the market! Long-term stock investors are reaping the benefits of a massive, eight-year-long bull market. Driven by ultra-low interest rates, fiscal stimulus, economic growth, and a pro-business White House, equities just keep pushing higher. No one knows how long these glory days will last. Investors are scrambling to […]

    Fewer Advisors Breaking Away, Report Finds

    {June 27th, 2017} by Cyril Tuohy

    Investment advisor representatives, financial advisors or financial advisories who leave or break away from their captive channel to start new in the independent channel is lower than widely reported, a new analysis found. When only the “successful” advisors and brokers — those who weren’t fired but left on their own accord — are counted, the […]

    Comments Frame SEC Fiduciary Debate

    {June 27th, 2017} by John Hilton

    Comments are pouring into the Securities and Exchange Commission (SEC) on the industry’s favorite topic: the fiduciary standard. The SEC reports 41 comments were received as of Tuesday. New chairman Jay Clayton penned a June 1 public statement staking a claim to any fiduciary standard. The Dodd-Frank Act of 2010 directed the SEC to produce […]

    MassMutual Leads in Whole Life in 1Q 2017

    {June 27th, 2017} by Cyril Tuohy

    MassMutual Life finished as the top seller of whole life insurance in the first quarter 2017, industry tracker Wink’s Sales & Market Report said this week. MassMutual was the top whole life seller in 2016. In the first quarter, the company generated new sales of $142 million and a market share of 15 percent, said […]

    Insurance Channel Sending Scores of Advisors to IBDs

    {June 27th, 2017} by Cyril Tuohy

    Large percentages of financial advisors recruited to independent broker-dealers (IBD) are as likely to come from the insurance distribution channel as they are from big wirehouses, a financial industry expert said. IBDs Kestra Financial and ING Financial Partners each recruit about 30 percent of their advisors from the insurance channel, said Chip Roame, managing partner […]

    Insurers Report Minor Issues From DOL Rule

    {June 27th, 2017} by Cyril Tuohy

    Insurance company executives reported minor disruptions Thursday to agents and distributors two weeks into the first phase of the Department of Labor’s fiduciary rule. Sales of annuity products were still “flowing in” from agents selling annuities into retirement plans, said Ray Wasilewski, chief operating officer, Life Companies, for FBL Financial Group. FBL is a top […]

    Life Insurers’ Courting of Millennials Pay Off

    {June 26th, 2017} by Jay Cooper

    Who says life insurers are too stodgy or “boring” for Millennials? Companies have undertaken large-scale initiatives, from accelerated underwriting to souped-up digital interfaces, to appeal to the demographic segment, and it appears those efforts are paying off. New Harris Poll research shows Millennials actually view life insurance more favorably than their Gen X or Baby […]

    The 50 Best Annuities: Guaranteed Income for Life

    {June 25th, 2017} by Karen Hube

    Annuities have long had a reputation for being sold, not bought. And for years, the $2.8 trillion annuity industry has grown fat on commission-based products sold primarily through insurance agents and brokers, sometimes with little regard for whether they were in their clients’ best interest. But the feast is over. And that’s good news for […]

    Study: 37% of American Adults Skip Life Insurance

    {June 23rd, 2017} by InsuranceQuotes

    AUSTIN, TEXAS (June 21, 2017)—A recent survey from insuranceQuotes.com finds that 37% of adults do not have life insurance. And while expense was the most commonly cited reason for not purchasing a policy—with 59% of those without a policy saying so—data revealed that respondents still wouldn’t do so, even if money weren’t an issue. But […]

    3 Reasons DOL Fiduciary Rule Will Stay Intact: ERISA Attorney Wagner

    {June 22nd, 2017} by Melanie Waddell

    RISA attorney Marcia Wagner sees three reasons why the “tortured” Department of Labor fiduciary rule will prevail, noting the importance of the rule to the nation’s private pension system.  The Trump administration being the third one to look at the rule — behind the administrations of Presidents Barack Obama and George W. Bush (yes, at the […]

    Fixed Index Universal Life Can Diversify Your Product Roster

    {June 22nd, 2017} by Jason Wellmann

    Diversification is an important concept within the world of financial planning, and rightly so. It rarely makes sense to put all of your eggs in one basket, and one could argue following that advice is even more important when it comes to working with hard earned retirement funds. This idea is well known within investing […]

    Impact of the DOL Fiduciary Rule on Independent Insurance Agents

    {June 22nd, 2017} by Bruce L. Ashton, Joan M. Neri, Joshua J. Waldbeser, Fred Reish

    Recommendations of annuities and life insurance to retirement plan participants and IRAs (“retirement investors”) are fiduciary acts under the DOL’s new fiduciary definition. This means that independent insurance agents need to engage in a prudent process in making those recommendations. It also means that, to collect their commissions, they will need to comply with conditions […]

    Lincoln Installs New Leadership at Life Unit

    {June 22nd, 2017} by Warren S. Hersch

    Lincoln Financial Group has turned to a company veteran to lead its life insurance unit. Randal J. Freitag, the company’s CFO since 2011, assumes the helm of Lincoln’s life insurance business, providing strategic oversight at the senior management committee level. Mike Burns, head of the life unit, will continue to manage its day-to-day operations, including […]

    5 Ways Washington Is Choking Your Annuity Business

    {June 22nd, 2017} by Allison Bell

    If you sell or market annuities, you may face a frustrating problem. This should be the best market for retirement savings products ever. Employment is pretty good. More than 15,000 U.S. adults are turning 50 every weekday. At least about 3,000 of those adults probably earn enough that they should be flooding into the offices […]

    Lincoln Installs New Leadership at Life Unit

    {June 22nd, 2017} by Warren S. Hersch

    Lincoln Financial Group has turned to a company veteran to lead its life insurance unit. Randal J. Freitag, the company’s CFO since 2011, assumes the helm of Lincoln’s life insurance business, providing strategic oversight at the senior management committee level. Mike Burns, head of the life unit, will continue to manage its day-to-day operations, including […]

    Great American Parent Explains Annuity Unit to Wall Street

    {June 21st, 2017} by Allison Bell

    Executives from American Financial Group, the parent of Great American Insurance Group, recently briefed investors and securities analysts on the state of its operations and on its prospects for future growth. One thing the executives did was to sell Wall Street players, at the Morgan Stanley Financials Conference in New York, on the idea that offering annuities is still […]

    Study shows ‘retirement literacy’ is shockingly low

    {June 21st, 2017} by Elliot Raphaelson, Tribune Content Agency

    The American College of Financial Services conducted an online survey containing 38 questions to assess retirement literacy among those near or in retirement. Respondents were between ages 60 and 75 with at least $100,000 in household assets, not including their primary residence. The participants, representing a cross-section of American families, showed a significant lack of […]

    Guardian Introduces EstateGuard Whole Life Insurance

    {June 21st, 2017} by he Guardian Life Insurance Company of America

    NEW YORK, N.Y., June 7, 2017 – The Guardian Life Insurance Company of America®(Guardian), one of the nation’s largest mutual life insurers and a leading provider of whole life, individual disability insurance and employee benefits, is introducing Guardian EstateGuard®Whole Life Insurance (17-SWL). It offers individuals a unique, tax-advantaged1 financial strategy for protecting, conserving and transferring […]

    How an Advisor Can Become a Better Public Speaker

    {June 21st, 2017} by Kim Magdalein

    If you sell life insurance and annuities for a living, the ability to speak well at seminars and other events can help you persuade more people to protect themselves, and their loved ones, against death, disability and longevity risk. Be very careful about the advice you take on this subject. I have been speaking to […]

    OneAmerica Unveils Post-DOL Twist on Fee-Based Advisor Comp

    {June 21st, 2017} by Jay Cooper

    OneAmerica is launching a new compensation structure for its group annuities sold to retirement plans that allows advisors to move to a fee-based payment, while preserving many of the features of the commission structure. Maintaining some of those similarities will be essential to keeping advisors interested in serving the small- and mid-size plan market, OneAmerica […]

    Nevada Makes Its Own Fiduciary Rule

    {June 21st, 2017} by Alex Padalka

    Not content with the Department of Labor’s fiduciary rule that went into effect June 9, the state of Nevada will hold all investment advisors and broker-dealers to the fiduciary standard starting in July, Lexology writes. Nevada’s fiduciary rule, going into effect July 1, will extend the fiduciary standard to all financial planners, according to the […]

    Don’t fall for the hype, but don’t ignore the DOL’s rule either: Carosa

    {June 21st, 2017} by Chris Carosa

    Aesop sure had a way with twisting with people’s minds. At one moment in his fable, you’re dealing with a young lad who exhibits an abnormal fear of and fixation on untamed canine beasts. No sooner are you convinced it’s best to shun this little chicken, it turns out he’s right, but not before the […]

    Ex-Key Bank broker suspended for alleged mishandling of customer annuity

    {June 21st, 2017} by Margarida Correia

    A former Key Bank broker was suspended from the industry for 18 months and fined $7,500 for allegedly mishandling a customer’s variable annuity and inappropriately using two other customers’ personal identification information, according to a recent FINRA disciplinary filing. FINRA claimed that Abed Adam Darwish, a broker with Key Investment Services in Cleveland, Ohio, added […]

    BB&T to expand insurance business

    {June 21st, 2017} by Margarida Correia

    It looks like BB&T’s already dominant insurance brokerage business is about to get even bigger. Even though the bank derives an astoundingly high 15% of its revenues from insurance, it has set a long-term target of getting that to 20%, Kelly King, the bank’s CEO, told analysts at a recent Morgan Stanley conference in New […]

    Rise in Shorter-Term Surrender FIAs Means Commission Declines

    {June 21st, 2017} by Cyril Tuohy

    The emerging popularity of fixed indexed annuities (FIA) with a seven-year surrender period is reducing commission income to agents, data shows. First-quarter indexed annuity commission received by agents dropped to 4.96 percent from 5.37 percent in the year-ago period, data from Wink’s Sales & Market Report indicate. “Shorter-term products pay lower commissions,” said Sheryl J. […]

    Should You Jump on the Buffer Annuity Bandwagon?

    {June 21st, 2017} by Robert Bloink, and William H. Byrnes

    As the annuity marketplace evolves in reaction to the Department of Labor fiduciary rule, more and more insurance carriers are jumping onto the buffer annuity bandwagon as the popular products continue to gain traction with clients.  While this is clearly the case, it’s more important than ever that advisors take a step back and evaluate […]

    Survey: A Tough Year for Insurance and Annuities

    {June 21st, 2017} by Cyril Tuohy

    The focus on fees and taxes is expected to make life difficult over the next year for life and annuity products in the eyes of financial planners, a new survey on investing trends found. Usage or recommendations of fixed, variable and indexed annuities fell by several percentage points from 2016 to 2017, the survey of […]

    Voya Financial Hires Jeff Cimini to Lead Retirement Product Organization

    {June 21st, 2017} by Voya Financial

    WINDSOR, Conn., June 21, 2017 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that it has hired Jeff Cimini to lead the company’s Retirement Product organization. Cimini will oversee the team responsible for all aspects of the centralized retirement product functions, including product management, development, strategy, pricing, competitive intelligence, Voya Institutional Trust Company, as […]

    Indexed Annuity Sales Fall 14%: Wink

    {June 19th, 2017} by Allison Bell

    All of the uncertainty surrounding the U.S. Department of Labor’s fiduciary rule hit sales of indexed annuities and annuities with multi-year rate guarantees hard in the first quarter, according to Wink’s Sales & Market Report. Indexed annuities accounted for about 56% of U.S. individual annuity sales outside of the variable annuity market during the quarter. […]

    4 Ways to Overcome Media-Driven Annuity Misconceptions

    {June 17th, 2017} by Chris Conklin

    How many of you have seen the national television ad where a financial advisor looks straight into the camera and says he would never sell an annuity to a client? Not only does he say he’ll never sell an annuity, but he also goes on to provide this rationale: annuities are “confusing” and could subject […]

    Lincoln Financial Group Launches “Informed Advisor” Blog

    {June 14th, 2017} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today the launch of the “Informed Advisor” blog. The new content series, housed in the Industry Professional section of LincolnFinancial.com, is designed to provide advisors with a range of insights and information to help address clients’ income planning needs in light of the changing regulatory, investment, and […]

    The First Time I Learned About An Annuity: BLOG

    {June 14th, 2017} by Cyril Tuohy

    The first time I discovered I had any potential connection to an annuity was about a decade ago when my father spoke to me about either taking a lump sum buyout or annuity payments from his former employer. My father was retiring. Like millions of people his age, he faced a choice: take the lump […]

    Mass Mutual Leads in Whole Life in 1Q 2017

    {June 14th, 2017} by Cyril Tuohy

    Mass Mutual Life finished as the top seller of whole life insurance in the first quarter 2017, industry tracker Wink’s Sales & Market Report said this week. Mass Mutual was the top whole life seller in 2016. In the first quarter, the company generated new sales of $142 million and a market share of 15 […]

    What Americans Will Miss Most When They Retire

    {June 14th, 2017} by Jim Poolman

    One tool that may help you do a better job of meeting the needs of retirement planning prospects is understanding how they see their future selves. What do you imagine when you think of your own dream retirement? Are you sitting on a beach sipping a cool beverage, or learning a new skill like tennis? […]

    More Than 500 Annuity Customers Showcase What Makes Their Lives Great

    {June 14th, 2017} by Great American Insurance Group

    April 19, 2017 10:00 AM Eastern Daylight Time CINCINNATI–(BUSINESS WIRE)–Great American Insurance Group received more than 500 submissions during a six-month campaign that invited its annuity customers to submit photos of what makes their lives great. “Our goal isn’t to just sell annuities, but to help our customers achieve financial security, so they can do […]

    Census Bureau Starts New Annuity Data Stream

    {June 14th, 2017} by Allison Bell

    Only 4.6% of U.S. households told census takers they had annuities or trusts in 2013, but those households had an average of $180,271 in annuity and trust assets each. The median value of trust and annuity assets was $60,000. That means that half of the households with annuities and trusts had less than $60,000 in […]

    Buying mom an annuity was the right choice — even at 89

    {June 14th, 2017} by Laurence Kotlikoff

     My mom is 97 and 8 months. (As with infants, every month is a big deal at her age.) Apart from the pads of her feet hurting when she walks (due to loss of fatty tissue), she’s in good shape, including mentally. I figure she’ll make it beyond 100, knock on wood.Eight years ago, when […]

    An Absent Chairman Is the Least of Anbang’s Problems

    {June 14th, 2017} by Nisha Gopalan

    (Bloomberg Gadfly) — As a Chinese firm that came from nowhere and transformed into one of the nation’s largest insurers, Anbang Insurance Group Co.’s tumble from grace was perhaps predictable. China Inc.’s history is littered with fallen businessmen, even ones that were politically well connected. Caijing Magazine said late Tuesday that Anbang Chairman Wu Xiaohui […]

    An Annuity Can Help Restore Your Confidence in Retirement

    {June 14th, 2017} by Gerry Dougherty

    Sometimes we forget just how fragile a nest egg can be. When the economy tanked in 2008, retirees watched in horror as U.S. markets suffered historic losses. The Dow declined by more than 50%, its biggest drop since the Great Depression of 1929. The oldest Baby Boomers, who were closing in on retirement age just […]

    Annexus Partners with Highland Capital on Exclusive Life Insurance Distribution Opportunity

    {June 14th, 2017} by Annexus

    SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Annexus, a leading designer of fixed indexed annuities and indexed universal life insurance (IUL), announced today a new distribution partnership with Highland Capital Brokerage. The partnership adds a new distribution opportunity for Balanced Growth Advantage IUL (BGA), designed by Annexus and issued by Minnesota Life Insurance Company. “The indexed crediting strategies in Annexus’ […]

    Retirement Confidence with Annuities

    {June 14th, 2017} by NAFA

    As an industry professional, you understand the features and benefits of annuities, and are working to ensure these powerful products remain easily accessible to consumers regardless of their net worth. With so many regulatory and legislative issues on the table pertaining to annuities, it’s never been more crucial that you become active in the annuity […]

    This Is the Basic Tax Rule for Annuity Payments

    {June 14th, 2017} by TaxFactsOnline

    The basic rule for taxing annuity payments (i.e., “amounts received as an annuity”) is designed to return the purchaser’s investment in equal tax-free amounts over the payment period (e.g., the annuitant’s life expectancy or a guaranteed certain period of time) and to tax the balance of each payment received as earnings. Each payment, therefore, is […]

    A Victory for Florida Life Insurance Consumers

    {June 14th, 2017} by Robin S. Weinberger and Peter N. Katz

    The Florida legislature recently passed H.B. 1007, a comprehensive bill intended to combat insurance fraud. One important provision of the bill requires that insurance consumers be advised of their options before making changes to a life insurance policy. The new law now awaits the governor’s signature or, unless vetoed, automatically becomes law 15 days after […]

    Retirement Seminar Alert: No Such Thing as a Free Lunch (or Dinner or Brunch)

    {June 14th, 2017} by Allison Bell

    A team of insurance regulators might reduce bias against lunch in annuity seminar warning notices. The team could replace a warning against “‘free lunch’ seminars’” in an official sample notice with a warning against “‘free meal’ seminars.” The team — the Promoting Appropriate Sales Practices in Life Insurance and Annuities Working Group — began working on […]

    Female Breadwinners in Need of Financial Advice

    {June 14th, 2017} by Brian O'Connell

    Data shows that a burgeoning number of U.S. women are either the primary, or co-primary, household breadwinner these days – albeit reluctantly so. A closer look at the numbers shows women have high degree of angst over taking financial responsibility. They are also unprepared to inherit wealth or pass their own wealth on to loved […]

    A Fiduciary Rule For Annuities?

    {June 14th, 2017} by Ben Mattlin

    Annuity suitability regulations could come to mirror the Department of Labor’s fiduciary rule, an industry official said Tuesday. An NAIC committee is looking at whether annuity suitability rules in the states should be adjusted in light of the best interest standard—and whether that makes sense, Ted Nickel, president of the National Association of Insurance Commissioners […]

    IUL Market in 1Q: The Top-10 Shuffle

    {June 14th, 2017} by Cyril Tuohy

    First quarter indexed life sales rose 3.4 percent to $446.5 million compared with the year-ago period, according to Wink’s Sales & Market Report. Sales dropped 16.4 percent compared with the previous quarter. This is part of a cyclical trend that usually sees first quarter sales drop from fourth quarter sales, Wink said. “This quarter, indexed […]

    State Regulators Study Fiduciary Rule Standard for Annuity Sales

    {June 14th, 2017} by Greg Shulas

    The National Association of Insurance Commissioners has formed a working group to examine the possibility of state regulators using key principles of the DOL fiduciary rule for annuity sales. That’s according to an article published Tuesday in InvestmentNews.  Click HERE to view the original story via Life Annuity Specialist. The state insurance regulators are paying […]

    Transamerica Tops IUL Sales, Prudential Leads Fixed UL Sales

    {June 14th, 2017} by Jay Cooper

    Transamerica has continued its dominance in indexed universal life (IUL) sales, while Prudential leads the market in fixed universal life sales, according to Wink’s first quarter sales and market report. MassMutual, meanwhile, enjoyed the dominant market share position for whole life insurance, the report shows. Wink has tracked data on IUL sales since 1997, but […]

    Americans Look to Family to Help Fund Their Retirement: Survey

    {June 14th, 2017} by Michael S. Fischer

    Having enough money to live in retirement is a concern of Americans across all age groups, but whom are they counting on to fill retirement savings shortfalls? New research by Natixis Global Asset Management shows that 78% of Americans think it is up to them to fund their retirement, but 77% say they are looking […]

    Trust Planning with Annuities

    {June 14th, 2017} by Chris Price

    Despite its value to a client, trust planning is not widely understood, even by some insurance advisors. Knowing why and how to engage in trust planning can bring value to your clients and to your business.  Not only can trusts help solve clients’ wealth transfer and taxation concerns, but the implementation process can also help […]

    What You Need to Know About Annuity Classes

    {June 14th, 2017} by The National Underwriter Company

    Classifying things into types is always a tricky business. Consider a red Chevrolet Corvette. What is it? THIS THINKADVISOR STORY IS EXCERPTED FROM: Well, that depends upon the type or types of classifications we’re using. It’s a motor vehicle. But what kind of motor vehicle? Well, it has four wheels, so that we can use […]

    Annuities Offer Stability, Lump Sum Takers Say

    {June 14th, 2017} by Cyril Tuohy

    Many people who opt for an annuity are happy with them, but what of people who chose the lump sum over an annuity? Do they have any regrets about choosing the lump sum? Turns out that many lump sum recipients, if not always a majority, agree that annuities provide plenty of benefits, MetLife’s Paycheck or […]

    Women’s Worth

    {June 14th, 2017} by Jamie Ohl

    Women often find themselves assuming the role of primary caretaker for their families – ensuring the well-being of everyone else in their lives. It is important for them to also take care of themselves by prioritizing their own financial wellbeing. The good news is that women understand the importance of saving, recognizing that unexpected events […]

    SEC Should Have Been The Agency To Deal With Fiduciary, Ex-Chief Says

    {June 14th, 2017} by John Hilton

    WASHINGTON –Former Securities and Exchange Commissioner Paul S. Atkins expressed disappointment this morning with Labor Secretary Alexander Acosta’s initial handling of the controversial fiduciary rule. In a Wall Street Journal op-ed last month, Acosta announced that he would permit the fiduciary rule to take effect, which happened at 11:59 p.m. June 9. This week’s agenda […]

    Jackson National Gives Pimco Total Return the Boot, Welcomes DoubleLine

    {June 14th, 2017} by Janet Levaux

    Jackson National Life is switching fund managers for its core $3.5 billion fixed income offering. In a regulatory filing, the variable annuity provider said Pimco’s Total Return bond strategy is out and DoubleLine Capital’s Core Fixed Income Fund is in, according to a Reuters report. Jackson’s medium-term fixed-income investment option is to be renamed JNL/DoubleLine […]

    Surrender Charges’ Great Disappearing Act

    {June 14th, 2017} by Cyril Tuohy

    Surrender charges on fee-based variable annuities seem to be disappearing faster than the polar ice caps, new filings reveal. The shorter surrender periods and no surrender charges are the result of annuity companies offering fee-based financial advisors new options that coincide with the dawn of the Department of Labor’s fiduciary rule. The rule began taking […]

    ACT II – Pulling Back the Curtain on Brokerage – Dept. of Labor Fiduciary Rule Impacts Distribution.

    {June 14th, 2017} by Kim Purnell

    As the industry moves forward into January 2018, it will be important to distinguish the difference between traditional Independent Marketing Organizations (IMO) and the emerging BICE Distribution Partners IMO/FMO (BDP). Remember, not every Independent Marketing Organization will be considered a Financial Institution and have BICE Exemption designation from the US Department of Labor. If your agency […]


    {June 14th, 2017} by Sheryl J. Moore

    WHAT DO PEOPLE NEED TO KNOW ABOUT ANNUITIES? August 18, 2015, by Sheryl J. Moore June marked the second annual commencement of National Annuity Awareness Month- a month dedicated to educating consumers about annuities, their benefits, and features.  Since I was out on maternity leave last June, this was my first opportunity to be involved in the […]


    {June 14th, 2017} by Sheryl J. Moore

    One of my most memorable years in the annuity business was 2008. So much was happening: the ‘Dateline Debacle,’ SEC’s proposed rule 151A, the market’s collapse. It was a challenging year! Many are predicting that 2017 will be just as challenging. The Department of Labor’s (DOL’s) proposed fiduciary rule alone threatens to weaken the annuity […]


    {June 14th, 2017} by Sheryl J. Moore

    VALUATION OF MARKETING ORGANIZATIONS March 1, 2013 by Sheryl J. Moore The past four or five years have been a major struggle for distributors in the life insurance business. The collapse of our nation’s economy, while catastrophic, was only the first domino in a vast Rube Goldberg Machine of economic destruction. Capital became scarce as […]

    Finra CEO Robert Cook keeps low profile — for now

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

    From the day he was named president and CEO of Finra, Robert W. Cook has spent most of his time under the radar. Now, some 10 months later, the Financial Industry Regulatory Authority Inc.’s 3,800 member firms and 633,800 registered reps are waiting patiently for Mr. Cook to reveal exactly how he intends to make […]

    Defining ‘Reasonable Comp’ Under the DOL Rule

    {June 13th, 2017} by Cyril Tuohy

    The best way for financial advisors to think about “reasonable compensation” in the fiduciary sense is to imagine a scatter graph. And the best place to be on that graph is the dot in the middle of the pack of other dots. Outliers on either side – high or low, left or right – of […]

    Market Observers Optimistic Over Further Changes to DOL Rule

    {June 13th, 2017} by Frank Klimko

    WASHINGTON – Market observers expressed optimism the U.S. Labor Department will modify elements of the newly effective fiduciary rule before the final deadline next January, when retirement advisers must comply with all parts of the Best Interest Contract Exemption. The retirement advice industry has been buoyed with the announcement that DOL Secretary Alexander Acosta will […]

    State insurance regulators look to DOL fiduciary rule as they mull changes to annuity sales standard

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

    State insurance regulators are using the Labor Department’s fiduciary rule as a benchmark as they begin to mull changes to the annuity sales standard they oversee. The DOL rule, part of which was implemented last week, requires advisers to act in the best interests of their clients in retirement accounts. Annuity sales are governed by […]

    Ohio National Launches Innovative Roll Up Feature

    {June 13th, 2017} by Cyril Tuohy

    Ohio National has launched a new twist on the fixed indexed annuity (FIA) guaranteed living withdrawal benefit (GLWB) rider: a roll up that keeps on rolling. Unlike many GLWBs where income doesn’t necessarily increase once contract holders agree to begin withdrawals, Ohio National’s ONdex Income Accelerator GLWB is guaranteed to increase by a least 3 […]

    Fiduciary Rule Confusion Hangs Over S&P Conference Life Sessions

    {June 13th, 2017} by Allison Bell

    Policymakers need to clear up the regulatory confusion over U.S. annuity sales quickly, for the sake of the consumers who are trying to prepare for retirement, Eric Steigerwalt, president of Brighthouse Financial, said today. Steigerwalt made that plea during a panel discussion in New York, at an insurance conference organized by S&P Global Ratings. Insurers are […]

    DOL Rule Implementation Leaves Advisors No More Certain

    {June 13th, 2017} by Alex Padalka

    The Department of Labor’s fiduciary rule went into effect Friday, but how it affects the wealth management industry will vary depending on the market participant – particularly in light of the ongoing review of the rule and the flexibility the DOL is granting the industry, the Wall Street Journal writes. The rule, which forces retirement […]

    Indexed Universal Life Sales Rise 3.4%: Wink

    {June 13th, 2017} by Allison Bell

    Indexed universal life insurance sales grew a little in the first quarter, according to Wink’s Sales & Market Report. Sales increased to $447 million, up 3.4% from the total for the first quarter of 2016. Wink reported those figures in a summary of results from a survey of 100 U.S. life carriers. Click HERE to […]

    Wink, Inc. Releases First Quarter, 2017 Life Sales Results

    {June 13th, 2017} by Press Release

     — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   A Record-Setting First Quarter for Indexed Life Sales! Wink, Inc. Releases First Quarter, 2017 Life Sales Results Pleasant Hill, Iowa. June 12, 2017– One hundred life insurance carriers participated in the 79th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, the insurance industry’s […]

    WealthVest Partners with State-Of-The-Art Platform to Address Regulatory Challenges Under the DOL Fiduciary Rule

    {June 13th, 2017} by WealthVest

    After months of speculation and bureaucratic jockeying, the DOL Fiduciary Rule went live at 11:59 PM on June 9th. This landmark ruling from the Department of Labor will require financial professionals to uphold a fiduciary standard when making investment recommendations on qualified retirement accounts. At its core, this means that recommendations made by a financial […]


    {June 12th, 2017} by Sheryl J. Moore

    Indexed Life Sales for the first quarter of 2017 were $446 million, compared with sales of $431 million for the first quarter of 2016. First quarter indexed life sales were down more than 16% when compared with the previous quarter, and up more than 3% when compared to the same period last year. Total 1Q2017 […]

    State Farm, Prudential, Nationwide Rise in Fortune 500 List

    {June 12th, 2017} by Warren S. Hersch

    State Farm and Prudential Financial each moved up a couple of notches, while MetLife dipped two, among the top-ranking life insurance and annuity manufacturers in the 2017 Fortune 500 list. Of the top 12 carriers, five others improved their rankings relative to 2016, including (in order of ranking) Nationwide, Northwestern Mutual, USAA, TIAA and Aflac. […]

    Ready for the DOL Rule: AXA, Lincoln, Nationwide, Ohio Nat’l

    {June 12th, 2017} by Warren S. Hersch

    Major life insurance and annuity manufacturers say they’re ready for the June 9 phase-in of the U.S. Department of Labor’s fiduciary rule. Measures they’ve instituted to prepare for the regulation’s implementation are wide-ranging, including the rollout of best practices and disclosures to help advisors comply with the rule’s Best Interest Contract Exemption, technology upgrades to […]

    IMOs Prep Themselves for the DOL Rule

    {June 12th, 2017} by Warren S. Hersch

    While industry manufacturers prepare for the long-awaited June 9 phase-in of DOL’s Conflict Interest Rule, key distribution players on which the brunt of the rule’s requirements will fall — independent marketing organizations — are themselves scrambling to become DOL ready. The efforts range from the overhauling of information technology systems to offering advisors DOL-compliant training […]

    Advisors Can Serve As Human Security Blankets

    {June 12th, 2017} by Karen DeMasters

    Having a financial advisor does not make a little difference in whether a person feels financially secure—it makes a huge difference, according to a study by Northwestern Mutual, a financial services firm based in Milwaukee. According to Northwestern Mutual’s 2017 Planning and Progress study, 68 percent of people with a financial advisor feel very financially […]

    Fiduciary Rule Is Now (Partially) in Effect

    {June 12th, 2017} by Yuka Hayashi

    WASHINGTON—When President Donald Trump took office, many in the financial industry were confident that a looming retirement-savings rule they had opposed for years would soon be dead. To their dismay, the core principle of the rule was implemented Friday. The resilience of the so-called fiduciary rule is partly attributable to delays in appointing senior officials […]

    Mutual of Omaha Adds Indexed Universal Life Policy: Life Launchpad

    {June 11th, 2017} by Allison Bell

    United of Omaha Life Insurance Company, a subsidiary of Mutual of Omaha, is putting a second indexed universal life insurance policy on the market The Omaha, Nebraska-based company’s Life Protection Advantage Indexed Universal Life Insurance policy offers purchasers three options for adjusting the product interest rates. All of the crediting rate options are based on […]

    Mutual of Omaha Boosts IUL Lineup with Protection Focused Product

    {June 10th, 2017} by Jay Cooper

    Mutual of Omaha has added a protection-focused indexed universal life (IUL) offering to round out its product suite in the space. Life Protection Advantage Indexed Universal Life Insurance is geared largely to younger individuals, generally between age 35 and 50, looking for lower premiums and potential lifetime coverage. “This is for [consumers] who are looking […]

    LifeAnswers Launches a Simple Solution to the DOL Fiduciary Rule

    {June 10th, 2017} by LifeAnswers Financial Group

    BOYNTON BEACH, FL (PRWEB) JUNE 09, 2017 LifeAnswers Financial Group has launched what it believes is the simplest solution for insurance agents to comply with Department of Labor (DOL) Fiduciary Rule during the Rule’s transition period that runs from June 9 through December 31, 2017. The LifeAnswers DOL Platform provides for an insurance agent to […]

    Barry Ritholtz Sees DOL Fiduciary Rule as a ‘Test Run’

    {June 10th, 2017} by Melanie Waddell

    We never like to do anything on a Friday — especially a summer Friday,” famed advisor Barry Ritholtz quipped during a Wednesday phone interview with ThinkAdvisor to discussed the Friday effective date of the Department of Labor’s fiduciary rule. A supporter of the rule, Ritholtz — chief investment officer of Ritholtz Wealth Management, a guest commentator on Bloomberg […]

    Nationwide Helps Advisors Prepare for First Phase of DOL Rule –

    {June 9th, 2017} by Nationwide

    COLUMBUS, Ohio, June 7, 2017 /PRNewswire/ — As the first phase of the Department of Labor’s (DOL) Conflict of Interest Rule goes into effect this week, the Nationwide Retirement Institute® is providing resources and support to help advisors incorporate a best interest process with clients. “Nationwide’s goal is to break down and simplify this complex […]

    Life Insurance Application Activity Continues to Disappoint

    {June 9th, 2017} by Jay Cooper

    Life Insurance Application activity continued to drop off in May, according to the MIB Life Index. The decline doesn’t bode well for life insurance sales this summer. The MIB Index measures life insurance application activity in the U.S., and is typically a three-to-four-month leading indicator of placed life insurance business. May’s index decline continues a […]

    DOL Takes First Step to Fiduciary Rule Review

    {June 9th, 2017} by Alex Padalka

    The Department of Labor has started the process that could eventually revamp its fiduciary rule, which requires retirement account advisors to put clients’ interest first and goes into partial effect Friday, Reuters reports.  Click HERE to view the original story via Life Annuity Specialist.  The DOL posted a notice on the White House’s Office of […]

    Fiduciary FAQ: What the latest milestone actually means

    {June 9th, 2017} by Andrew Welsch

    The fiduciary rule is finally here. Well, most of it. Key provisions of the rule take effect June 9, with the rest due in January 2018. By some counts, it has taken six years to arrive at this point ― and it’s not still an entirely settled matter, given that the SEC and Department of […]

    A.M. Best Affirms Credit Ratings of Delaware Life Insurance Company and Its Subsidiary

    {June 9th, 2017} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Delaware Life Insurance Company (Wilmington, DE) and Delaware Life Insurance Company of New York(New York, NY) (collectively referred to as Delaware Life). The outlook of these Credit Ratings (ratings) is stable. The ratings […]

    DOL fiduciary rule takes effect, but more uncertainty lies ahead

    {June 9th, 2017} by Mark Schoeff Jr.

    The Labor Department’s fiduciary rule has partially taken effect, but its future, much like its past, is shrouded in uncertainty. Two provisions of the measure, which requires financial advisers to act in the best interests of their clients in retirement accounts, become applicable today. One expands the definition of who is a fiduciary, and the […]

    House passes bill that would kill DOL fiduciary rule

    {June 9th, 2017} by Mark Schoeff Jr.

    The House of Representatives approved legislation Thursday that includes a provision to kill the Labor Department fiduciary rule, while House and Senate Republicans introduced separate bills to stop the regulation and establish a new investment advice standard. They all face long odds in the Senate, where Democrats have more than enough members to block legislation […]

    Will DOL Fiduciary Rule Be Watered Down?

    {June 8th, 2017} by Bernice Napach

    Almost seven years after the Labor Department proposed a rule to limit the conflicts of interest for financial advisors working with retirement accounts, its fiduciary rule for those advisors is finally set to take effect, on Friday, June 9, following a two-month delay by the new administration. More specifically, June 9 marks the first implementation […]

    Labor Secretary Acosta: Concerns with DOL fiduciary rule ‘not heard’ during original rulemaking

    {June 8th, 2017} by Greg Iacurci

    Secretary of Labor Alexander Acosta hinted Wednesday that the Obama administration didn’t adequately consider “concerns” raised during the rulemaking process surrounding the Department of Labor’s fiduciary rule. Mr. Acosta made the remark during congressional testimony, after Rep. Steve Womack (R-Arkansas) asked: “Is it not obvious that [the fiduciary rule] is going to limit [investors’] options? […]

    House OKs Bill That Could Kill Fiduciary Rule

    {June 8th, 2017} by Susan Rupe

    The Republican-led House has backed legislation that would kill the Department of Labor fiduciary rule. The House passed the Financial CHOICE Act that includes provisions that would undo much of the Dodd-Frank Act and would not allow the DOL to push fiduciary regulations forward until the Securities and Exchange Commission proposes its own rule. Click […]

    CreativeOne and GeoWealth Launch Insurance-Focused Offering

    {June 8th, 2017} by CreativeOne and GeoWealth

    CHICAGO, IL (June 8, 2017) – GeoWealth, a leading financial technology firm, is excited to leverage its proven RIA- directed, end-to-end financial services platform to bring an innovative solution to a rapidly changing insurance industry. This solution for insurance-only agents and independent marketing organizations (IMOs) enables them to document and support their recommendations as defined […]

    A.M. Best Affirms Credit Ratings of Guardian Life Insurance Company of America and Its Subsidiaries

    {June 8th, 2017} by Best's News Service

    Oldwick – A.M. Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” of Guardian Life Insurance Company of America (Guardian Life) (headquartered in New York, NY) and its core subsidiaries, Guardian Insurance & Annuity Company, Inc. (Wilmington, DE) and Berkshire Life Insurance Company […]

    Brokers Choice America Announces June Annuity Awareness Month

    {June 8th, 2017} by Brokers Choice

    Brokers Choice of America is launching a campaign to make June the annual annuity awareness month of the state of Colorado. Today, Brokers Choice of America, one of the nation’s largest Independently Owned Insurance Brokerages along with the National Association for Fixes Annuities announced they are launching a campaign to make June the annual annuity […]

    Prudential Financial Execs: Regulation, Strategic Focus Keys to Growth in Changing Environment

    {June 8th, 2017} by David Pilla

    NEWARK, N.J. – A strategic focus on protection, retirement and asset management and a changing regulatory environment are driving forces for Prudential Financial Inc., according to the group’s top executives. The company is operating in a world where risks are being shifted from government and employers to individuals, particularly in longevity and mortality, while Prudential […]

    Labor chief says he can’t snap his fingers and undo Obama rule

    {June 7th, 2017} by Steve Womack

    Labor Secretary Alexander Acosta pushed back Wednesday when asked why his department is implementing a financial adviser rule put in place by the last administration, telling lawmakers he can’t snap his fingers and undo a regulation. Republicans on a House Appropriations subcommittee pressed Acosta on the Obama-era financial adviser rule, which he announced last week […]

    U.S. Labor Department takes steps to reconsider fiduciary rule

    {June 7th, 2017} by Sarah N. Lynch and Robert Iafolla

    The U.S. Labor Department this week took preliminary steps toward potentially recrafting the fiduciary rule, which requires brokers who offer retirement advice to act in their customers’ best interest. The White House’s Office of Management and Budget website posted a notice by the Labor Department saying it plans to solicit information from the public and […]

    How much will reasonable compensation be come June 9?

    {June 7th, 2017} by Nick Thornton

    Come midnight this Friday, anyone advising IRA account holders, and most of the country’s 401(k) plans, will have to operate under the fiduciary rule’s impartial conduct standards. The June 9 requirement is, of course, a far cry from compliance with the full rule, which is scheduled for January 1, 2018. The impartial conduct standards require […]

    OneAmerica, Raymond James Partner to Speed Life Sales Process

    {June 7th, 2017} by Jay Cooper

    OneAmerica and Raymond James will share a collaborative workflow platform to speed the life insurance sales process between the carrier and Raymond James’ advisor network. Raymond James will eventually use the platform to speed annuity contract deliveries. As part of the agreement, the two companies will deploy iPipeline’s DocFast e-Delivery solution. The DocFast tool allows […]

    Guardian Adds Estate-Focused Product to Whole Life Suite

    {June 7th, 2017} by Jay Cooper

    Guardian Life Insurance Company of America is launching its first “second-to-die” whole life product. The new offering, announced Wednesday, targets consumers looking to minimize estate tax burdens or facing significant liquidity needs at the time the second policyholder passes. While most of the death benefit pays out after the second policyholder dies, Guardian Life executives […]

    DOL Takes First Step Toward Fiduciary Rule Changes

    {June 7th, 2017} by Melanie Waddell

    The Department of Labor released Wednesday morning a request for information seeking public input on potential further changes to its fiduciary rule, which takes effect Friday. The RFI was posted on the Office of Management and Budget’s website. Labor Secretary R. Alexander Acosta told members of the House Appropriations Committee Wednesday morning that the RFI […]

    When Life Insurance Isn’t a Lifetime Investment

    {June 7th, 2017} by Robert Bloink, and William H. Byrnes

    Even when a client purchases a “permanent” type of life insurance policy (such as a whole life policy), situations can arise in which the investment may simply no longer make sense. If this is the case, the client may consider either selling or surrendering the policy in order to free up those assets for allocation […]

    How the Fiduciary Rule Will Squeeze Your Shelf

    {June 6th, 2017} by Gerry Murtagh, Ben Yahr

    The U.S. Department of Labor’s fiduciary rule will become applicable this month, and it will have major effects on financial services delivered to the retirement market. The DOL rule expands the applicability of the existing fiduciary standard for recommending products to retail individual retirement account customers, which means advisors must always act in the best interest of […]

    Q1 Annuity Sales Fell 18%: IRI

    {June 6th, 2017} by Allison Bell

    Low interest rates and regulatory uncertainty continued to squeeze U.S. annuity issuers in the first quarter, according to the Insured Retirement Institute. Revenue from annuity sales fell to $49 billion in the first quarter, down 18% from the total for the first quarter of 2016, IRI reported today. Click HERE to view the original story […]

    SEC Fiduciary Rule Cannot Replace DOL’s: Financial Planning Coalition

    {June 6th, 2017} by Melanie Waddell

    Financial planning groups said Friday that any fiduciary rule considered by the Securities and Exchange Commission “cannot be considered a replacement” to the Department of Labor’s fiduciary rule. The Financial Planning Coalition — comprising the Certified Financial Planner Board of Standards, the Financial Planning Association and the National Association of Personal Financial Advisors — said in […]

    Bielen to Be Protective Life CEO

    {June 6th, 2017} by Allison Bell

    Richard Bielen is preparing to take over as the chief executive officer of Protective Life Corp. July 1. John Johns, the current CEO, will become the company’s executive chairman, the company said last week. The Birmingham, Alabama-based insurer is a subsidiary of Tokyo-based Dai-Ichi Life Holdings Inc. Dai-Ichi Life acquired the company in 2015. Click HERE to […]

    LPL Revamps Product Pricing Ahead of DOL Rule

    {June 6th, 2017} by Alex Padalka

    By Alex Padalka June 5, 2017 Like several of its wealth management rivals, LPL Financial is changing its product line ahead of the Department of Labor’s fiduciary rule, which is scheduled to go into effect June 9, InvestmentNews writes. The firm is restricting the types of no-load mutual funds available in brokerage accounts, aiming to better […]