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Archive for April 2018


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  • Paw Paw insurance agent to face charges of embezzling from client with dementia

    {April 30th, 2018} by Newschannel 3

    PAW PAW, Mich. — A Paw Paw insurance agent will face criminal charges following an investigation from the Elder Financial Crimes Unit in Michigan. Michigan Attorney General Bill Schuette said Brian Lietzau, 57, will be charged with seven felonies for abusing his position when given power of attorney for a woman suffering from dementia. Lietzau, the […]

    John Hancock Launches Multi-Year Project to Implement Single, Integrated Digital Platform for Life and Annuity Customers

    {April 30th, 2018} by John Hancock

    BOSTON, April 30, 2018 /PRNewswire/ — John Hancock today announced the launch of a four-year project to implement a single, integrated platform to provide its life and annuity customers with a holistic and digital experience as part of its broader ambitions to digitize operations. The company has selected Infosys, a global leader in consulting, technology and next-generation services, to accomplish […]

    On the Matter of Indexed Annuity Performance…

    {April 30th, 2018} by Sheryl J. Moore

    Recently, a vendor released a “research” paper on indexed annuity performance. I will refer to said “research” as a paper, as I have concerns with using the “research” terminology. Research– studious inquiry or examination; especially: investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light […]

    Financial Advisors Unload on SEC ‘Best Interest’ Rule

    {April 30th, 2018} by John Hilton

    The Securities and Exchange Commission is under fire from the advisory community for its “Regulation Best Interest” rule designed to rein in broker-dealers. Tentatively approved April 18, the rule is seen as a middle ground of sorts between full fiduciary status and the lighter suitability standard that brokers operate under now. In fact, some analysts […]

    SEC advice rule faces arduous journey

    {April 30th, 2018} by Blaine F. Aikin

    On April 18, the Securities and Exchange Commission released its much-anticipated “fiduciary” rule proposal, “designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of relationships and investment products.” Click HERE to read the full story via InvestmentNews; registration required. 

    Nationwide Advisory Solutions Launches New Website Redesigned using Advanced Analytics and Artificial Intelligence to Meet Unique Needs of RIAs, Fee-Based Advisors and Clients they Serve

    {April 30th, 2018} by Nationwide Advisory Solutions

    LOUISVILLE, Ky., April 30, 2018 /PRNewswire/ — Nationwide Advisory Solutions, formerly known as Jefferson National, has launched its new website expressly redesigned to meet the unique needs of the rapidly growing market of Registered Investment Advisors (RIAs), fee-based advisors and the clients they serve. New “demand-driven” features have been developed to serve independent advisors the way they want […]

    The Most Important Question To Ask When Buying Whole Life Insurance

    {April 29th, 2018} by Mark Avallone

    You may have heard the expression, “Buy ‘term’ and invest the difference.” While this axiom makes sense for many, there are times when whole life insurance is appropriate. It may sound odd, but a good question to ask is this: “Do I want to have life insurance when I die?” If you answer yes, then […]

    Aflac Execs Talk About U.S. Distribution Efforts

    {April 28th, 2018} by Allison Bell

    An insurer known for selling individual insurance products at the worksite says its sales of true group insurance plans have been growing. Executives from Aflac Inc. talked a little about the shift Thursday, during a conference call with securities analysts. An analyst asked the executives about a drop in sales of the company’s individual worksite short-term disability […]

    AARP, States File for Rehearing of DOL Fiduciary Case

    {April 27th, 2018} by Melanie Waddell

    AARP along with state attorneys general from California, Oregon and New York filed motions Thursday to intervene in an appeals court ruling to vacate the Labor Department’s fiduciary rule. The groups asked the U.S. Court of Appeals for the 5th Circuit for a rehearing en banc — before all the judges of the court. On March 15, a three-judge […]

    15 Things You Need to Know Now About Annuities

    {April 27th, 2018} by Coryanne Hicks and Philip Moeller

    With the retirement playing field littered with crushed investments and dreams, the safety of guaranteed income streams looks more attractive each day. Some annuities can provide such a guarantee. If you ask an insurance company to define annuities, the marketing phrase the insurer will probably use is: “Annuities can produce an income stream you can’t outlive.” That […]

    Allianz Life Empowers Employees to Choose Charities for $100,000 in donations

    {April 27th, 2018} by Allianz Life Insurance Company of North America

    MINNEAPOLIS, April 25, 2018 – With thousands of nonprofits located in the Twin Cities, choosing which organizations receive corporate dollars can be a challenging task. That’s why Allianz Life Insurance Company of North America (Allianz Life®) doesn’t do it alone; they solicit input from employees. The votes for 2018 are in: Allianz Life will donate […]

    Can AARP save the fiduciary rule?

    {April 26th, 2018} by Sean Allocca

    In an eleventh-hour attempt to save the fiduciary rule, AARP has filed a motion with the 5th U.S. Circuit Court of Appeals asking it to review the decision that vacated the Department of Labor’s regulation. The Attorney General’s offices in New York, California and Oregon filed similar petitions. The actions come amid doubt about the […]

    Insurers should be wary of sharp rate hike: A.M. Best

    {April 26th, 2018} by Retirement Income Journal

    A slow, smooth increase in interest rates by the U.S. Federal Reserve would allow life insurers/annuity insurers—especially those with minimal surrender protection or unattractive living benefits—to adjust crediting rates on existing products, reshape portfolio durations and help maintain credit quality for an optimal return, says a new A.M. Best special report. But a sharp rise […]

    AXA Seeks 2nd Circ. Rehearing In Annuities Suit

    {April 26th, 2018} by Dean Seal

    Law360 (April 25, 2018, 7:21 PM EDT) — AXA Equitable Life Insurance Co. asked the Second Circuit on Tuesday for an en banc rehearing on its decision to revive a putative class action after finding the suit’s claims of AXA’s alleged deception about variable annuities were not a federal matter, saying the ruling conflicts with U.S. Supreme […]

    AXA Begins Marketing AXA Equitable Shares to the Public

    {April 26th, 2018} by Allison Bell

    AXA S.A. today formally started the process of offering stock in AXA Equitable Holdings Inc., one of the biggest players in the U.S. life insurance industry, to the public, through an initial public offering.” AXA said it will sell 137.25 million AXA Equitable shares, or 24.5% of the total, through the IPO. The shares of the […]

    With FIA Caps, Higher is Better

    {April 26th, 2018} by Kerry Pechter

    After the financial crisis, the fixed indexed annuity (FIA) emerged from its original habitat in the independent insurance agent channel to compete against certificates of deposit in the bank channel and (when combined with an income rider) with variable annuities-with-living-benefits in the broker-dealer channel. Click HERE to read the full story via RIJ; registration required.  […]

    How to judge if an FIA fits a client’s portfolio

    {April 26th, 2018} by Tobias Salinger

    ATLANTIC CITY, N.J. — Clients and their financial advisors have grown increasingly interested in fixed index annuities as the products tie in new benefits while becoming simpler, but they’re still not always the right choice. Advisors need to weigh the tradeoffs of FIAs, which can include fees, the costs of new benefits attached to the […]

    Indexed annuities likely to rebound after dip in sales last year

    {April 26th, 2018} by Greg Iacurci

    Sales of indexed annuities look like they are going to bounce back this year after dipping in 2017, a first for the product line in almost a decade. Click HERE to read the full article via InvestmentNews; registration required.    Article excerpts: “I’m definitely hearing from [distributor] groups that their sales are up,” said Sheryl […]

    AARP seeks to defend DOL fiduciary rule in 5th Circuit

    {April 26th, 2018} by Mark Schoeff Jr.

    (This is a developing story. The news will be updated here as it unfolds.) One of the most powerful proponents for the Labor Department’s fiduciary rule will try to protect the measure in court, where it could die as early as Monday. Click HERE to read the full story via InvestmentNews; registration required. 

    Industry Observers: Reinsurers, Insurers Seek to Combine Forces Through Mergers and Acquisitions

    {April 26th, 2018} by David Pilla

    OLDWICK, N.J. – Reinsurers and insurers are seeking greater market clout through mergers and acquisitions amid soft pricing conditions and competition, according to industry observers. The pending acquisitions of Validus Holdings Ltd. by American International Group Inc. and of XL Group Ltd. by Axa SA show that appetite for the deal remains strong. Nicholas Bradley, […]

    How to help clients understand annuities

    {April 25th, 2018} by Dave Grant

    Annuities have a strange reputation. Some advisors view them as the pariah of the financial services profession. Others see them as useful tool, and for those who sell them, they are the be-all and end-all of financial security. But behind all of that emotion, they should be seen for what they are: a transfer of […]

    DOL fiduciary rule spurred IRA rollover improvements, state regulators say ​

    {April 25th, 2018} by InvestmentNews

    Broker-dealers are helping investors make better retirement decisions as a result of procedural changes firms have made in preparation for the DOL fiduciary rule, according to a study done by state regulators on the Individual Retirement Account rollover market. The report’s findings spotlight the real and tangible good that came from the Department of Labor’s […]

    5 Reasons ‘Non-Buyers’ May Still Be Good Annuity Prospects

    {April 25th, 2018} by Allison Bell

    Todd Giesing has come up with data suggesting that people who have actively decided against buying annuities could be pretty good annuity prospects. Giesing, director of annuity research at the Secure Retirement Institute, talked about the data earlier this month in Chicago, at the 2018 Retirement Industry Conference. The institute — an arm of LIMRA-LOMA — conducted an […]

    Gerber Life a Fit, Torchmark Exec Says

    {April 25th, 2018} by Cyril Tuohy

    Gerber Life would be a good fit for middle income life and health insurer Torchmark, a company executive said recently. Gerber Life targets young families on a limited budget through a captive distribution channel. “It does have controlled distribution, so I think at least at this point in time we’d be interested, but to our […]

    Global Atlantic Wants to Talk

    {April 25th, 2018} by Allison Bell

    Managers of Global Atlantic Financial Group are hoping to increase sales of new annuities by using the web to reach more financial professionals. The New York-based company last week gave Jason Bickler, the company’s national sales manager, a new title: head of retirement distribution. The company is also setting up two separate advisor outreach teams. One […]

    Best’s Special Report: Abrupt Interest Rate Hikes Could Pose Challenges to Life Insurers

    {April 25th, 2018} by AM Best

    Oldwick – How the U.S. Federal Reserve proceeds on interest rate hikes remains critical to the U.S. life/annuity (L/A) insurance industry. According to a new A.M. Best special report, a slow, smooth increase would allow insurers to adjust crediting rates on existing products, reshape portfolio durations and help maintain credit quality for an optimal return; however, a […]

    Kuvare Chief: We Want to Build a Life and Annuity Company That Will Last

    {April 24th, 2018} by Allison Bell

    Dhiren Jhaveri is in charge of one of the life insurance and annuity industry’s active dealmakers. His Chicago-based company, Kuvare US Holdings Inc., is using capital from three investors to  buy companies that sell life insurance, annuities and supplemental health insurance products. The company emerged on the scene in March 2016, by announcing that the […]

    Ameriprise CEO James Cracchiolo welcomes new SEC advice rule

    {April 24th, 2018} by Bruce Kelly

    Ameriprise Financial Inc. CEO James Cracchiolo on Tuesday welcomed the Securities and Exchange Commission’s new investment advice rule. During a conference call with analysts, Mr. Cracchiolo was asked his reaction to the SEC’s announcement last week. Click HERE to read the full story via InvestmentNews; registration required.

    Top 10 IBDs ranked by revenue

    {April 24th, 2018} by Liz Skinner

    Click HERE (registration may be required) for the top 10 independent broker-dealers by revenue. This data was collected from firms that participated in InvestmentNews’ independent broker-dealer surveys. Click through to find out which firms grew revenues from last year and visit here to see the complete Broker-Dealer Data Center.

    What a Big Annuity Issuer Sees Out There Now

    {April 24th, 2018} by Allison Bell

    Top executives at Ameriprise Financial Inc. are happy with how the company did in the first quarter, and their happiness is casting a flattering light on how they see the company’s life insurance and annuity operations. Jim Cracchiolo, the Minneapolis-based company’s chairman and chief executive officer, said today that the company just wants to see […]

    Abrupt Interest Rate Hikes Could Pose Challenges to Life Insurers

    {April 24th, 2018} by AM Best

    April 23, 2018 — OLDWICK, N.J.–(BUSINESS WIRE)–How the U.S. Federal Reserve (Fed) proceeds on interest rate hikes remains critical to the U.S. life/annuity (L/A) insurance industry. According to a new A.M. Best special report, a slow, smooth increase would allow insurers to adjust crediting rates on existing products, reshape portfolio durations and help maintain credit quality […]

    Jackson Beefs Up Advisory With New Hires

    {April 24th, 2018} by Cyril Tuohy

    First came the products, now come the senior managers. Jackson National, the nation’s top variable annuity seller, has hired three new executives to oversee the company’s growing advisory business, the company announced. The newly created positions come after Jackson launched fee-based annuities to appeal to financial advisors. Click HERE to read the full story via […]

    AM Best’s Special Report: Tax Reform Aids 2017 Bottom-Line Results for U.S. Life/Annuity Industry

    {April 24th, 2018} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–U.S. publicly traded life/annuity insurers saw total revenue rise by 5.9% in 2017, to $311.9 billion, on the backs of increased net investment income, fees and commissions and premium revenue. The Best’s Special Report, “Quick Look: U.S. L/A GAAP Earnings Review—Year-End 2017,” notes that the industry garnered a year-over-year $9.5 billion tax benefit in 2017 due […]

    FINRA Releases FINRA360 Progress Report

    {April 24th, 2018} by Melanie Waddell

    The Financial Industry Regulatory Authority released Tuesday a progress report on the self-regulator’s FINRA360 initiative — a top-to-bottom review of the broker-dealer regulator that was launched in March 2017 by FINRA CEO Robert Cook. The multi-year program will continue this year with a major focus on FINRA’s examination program, to be spearheaded by FINRA’s new […]

    Nationwide To Sell Annuities Through Independents

    {April 24th, 2018} by Cyril Tuohy

    Nationwide’s plan to cut loose 2,000 captive agents means the mutual will be selling its annuities through independents along with other institutional channels.   Click HERE to read the full story via INN; subscription required.   Article excerpt: Is Independence the Answer? Nationwide has recently made big gains in fixed indexed annuity sales. Nationwide was […]

    Confused by the SEC’s proposed advice rule? Your questions answered

    {April 24th, 2018} by Andrew Welsch

    It’s taken eight years, but the SEC has finally moved closer to promulgating new standards of conduct for brokers and advisors. The move is set to remake compliance across the industry and builds on already sweeping changes wrought by the Department of Labor’s fiduciary rule. To better understand this complicated rulemaking, Financial Planning asked several […]

    Transamerica’s New Administrator Sets up Iowa Offices

    {April 24th, 2018} by Allison Bell

    Tata Consultancy Services (TCS) —  a company that will be administering many U.S. business lines for Transamerica — has set up a North America insurance hub at a Transamerica building in Cedar Rapids, Iowa. TCS now employs about 800 people who previously worked for Transamerica in the building, at 4333 Edgewood Road NE in Cedar Rapids, […]

    What should you know about permanent life insurance?

    {April 24th, 2018} by Casey Dowd

    Life insurance can be an unpopular discussion at a cocktail party, but for Baby Boomers nearing or in retirement, it is something to talk about.  Learning about the changing life insurance category and how innovations and new options provide some real benefits for Boomers retirement planning. According to Allianz Life’s 2018 Life Insurance Needs Survey,  the […]

    2017 Financials Set Record Highs for OneAmerica®

    {April 24th, 2018} by OneAmerica

    INDIANAPOLIS, IN – (April 23, 2018) OneAmerica® today announced that 2017 was another record-breaking year of growth, marked by all-time highs in revenues, assets under administration and sales. “In 2017, we delivered $5.8 billion in promises paid to customers as we maintained our extraordinary financial strength, which will allow us to meet countless future commitments,” […]

    Watch Indexed Annuity Rate Caps

    {April 24th, 2018} by Allison Bell

    Analysts at Cannex Financial Exchanges Ltd. have come up with data to support a common belief about indexed annuities: that limits on the amount of index gains an annuity owner can keep are a big deal. The issuer of a non-variable indexed annuity guarantees that the holder will earn a minimum, fixed rate of return. The issuer then […]

    Ameriprise Financial Reports First Quarter 2018 Results

    {April 23rd, 2018} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today reported first quarter 2018 net income of $594 million, up 47 percent compared to a year ago, or $3.91 per diluted share, up 55 percent. Adjusted operating earnings were $563 million, up 30 percent compared to a year ago, with adjusted operating earnings per diluted share of $3.70, […]

    WealthVest Welcomes Wholesaler Additions to Cover National Territories on West Coast, Northeast, in Hawaii, Florida, Ohio, Kentucky and Illinois

    {April 23rd, 2018} by Wealthvest

    BOZEMAN, Mont., April 23, 2018 /PRNewswire-PRWeb/ — WealthVest is pleased to announce the addition of five Regional Consultants and three Regional Directors to cover strategic areas of the United States. Peter Gross, a new Regional Consultant, brings 16 years of financial experience to his position. He is responsible for overseeing sales in San Diego and Orange County area. Before joining WealthVest, Mr. Gross […]

    Brokers accept proposed SEC rule on who can call themselves an adviser

    {April 23rd, 2018} by Ryan W. Neal

    Even though the Securities and Exchange Commission’s new proposed advice rules could require them to make changes in the way they do business, some brokers acknowledged that the regulations are needed to clear up investor confusion about the advice industry. Among other things, the rules address best interest standard, conflicts of interest and who can […]

    Things are looking up: IBDs soared in 2017

    {April 23rd, 2018} by Bruce Kelly

    After a dismal 2016, the independent broker-dealer industry came back to life in 2017, with the top 25 IBDs collectively reporting $23.2 billion in revenue, a 13.1% annual increase, according to InvestmentNews research. Click HERE to read the full story via InvestmentNews; registration required. 

    SEC advice rule: Here’s what you need to know

    {April 23rd, 2018} by Greg Iacurci

    The Securities and Exchange Commission has officially proposed its investment-advice rule, the first step in a long regulatory process that could fundamentally change the way broker-dealers and their representatives do business. The proposal, published Thursday evening, includes three documents totaling 916 pages. The public will have 90 days to comment on its contents. Click HERE to read […]

    April 30 Deadline Looms for DOL Fiduciary Appeal

    {April 21st, 2018} by Melanie Waddell

    With the April 30 deadline looming for the Labor Department to appeal the 5th Circuit Court of Appeals ruling vacating Labor’s fiduciary rule, the former head of Labor’s Employee Benefits Security Administration is surmising that Labor will not appeal. “While we don’t officially know the DOL is not going to appeal,” it looks as if […]

    A.M. Best Affirms Credit Ratings of The Northwestern Mutual Life Insurance Company and Its Subsidiary

    {April 21st, 2018} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aaa” of The Northwestern Mutual Life Insurance Company (Northwestern Mutual), and its subsidiary, Northwestern Long Term Care Insurance Company. The two companies are domiciled in Milwaukee, WI, and collectively are known as Northwestern Mutual Group (NMG). Concurrently, A.M. Best has affirmed […]

    Advisor Group CEO praises SEC best interest proposal

    {April 21st, 2018} by Tobias Salinger

    The SEC’s proposed Regulation Best Interest may require further changes at independent broker-dealers, but, at first glance, the CEO of one of the largest firms views them as welcome developments. “There are enough special interest groups out there that the SEC can’t come up with a rule that’s just a nod to the industry,” says […]

    Voices A fiduciary by any other name … isn’t a fiduciary: OPINION

    {April 21st, 2018} by Tiffany McGhee

    At my first client meeting as a financial advisor, I sat across from a man 25 years my senior, and tried to explain to him the difference between the A share, B share and C share of the mutual fund I was recommending. He interrupted me and said, “whatever one you think is best.” I […]

    A.M. Best Removes From Under Review with Developing Implications and Affirms Credit Rating of United Life Insurance Company

    {April 20th, 2018} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of United Life Insurance Company (ULIC), a wholly owned subsidiary of Kuvare US Holdings, Inc. (Kuvare), which is a subsidiary of Kuvare Holdings LP. The outlook assigned to these Credit […]

    5 lessons from failing the CFP exam

    {April 20th, 2018} by Kate Dore

    This isn’t a post I wanted to write. I was planning on just the opposite — a scrappy how-to guide on nailing the CFP exam on my first try as a career changer. I visualized the “preliminary pass” notification on my computer screen. I imagined a wave of relief while strutting through the test center […]

    Why Whole Life Insurance Stinks: Commentary

    {April 20th, 2018} by Bryan Kuderna

    Let’s play a game… The next time you find yourself in a group setting and the conversation dies down to that awkward, don’t make eye contact silence, break the ice by blurting out, “So what do you guys think about whole life insurance?”  I bet that this out of the blue question will generate a […]

    SEC Proposes New Broker-Dealer Rules to Depose DOL Fiduciary Standards

    {April 20th, 2018} by Frank Klimko

    WASHINGTON – The U.S. Securities and Exchange Commission released a proposed package of new rules for brokers, dealers and investment advisers to overhaul conflict-of-interest standards and supplant the suspended Department of Labor’s fiduciary rule that was widely criticized by the retirement industry. The panel voted 4-1 to release the package, which included the new Regulation […]

    Pacific Life Ranked #1 Seller of Indexed Universal Life Insurance with $1.6 Billion of Target Premium Sold in 19 Years

    {April 20th, 2018} by Pacific Life

    ALISO VIEJO, Calif.–(BUSINESS WIRE)–Pacific Life Insurance Company was recently named the #1 seller of Indexed Universal Life Insurance (IUL)1 for the 19 year period from 1998 -2017 by Wink’s Sales & Market Report. The company entered the IUL marketplace in 2005 and by year-end 2017 had sold $1.6 billion of aggregate target premiums. “I attribute our success […]

    Despite misgivings, SEC releases proposed rule for investment advisers

    {April 20th, 2018} by Joe Gardyasz

    The Securities and Exchange Commission voted Wednesday to release a three-pronged proposed rule for public comment that would change the standard of care that broker-dealers owe retail investors, require new client disclosures for all investment providers, and reinterpret the requirements of fiduciary advice, Benefits Pro reported. On each of the three measures, the five-member commission […]

    Commentary: Have We Created A National Shadow Retirement System? OPINION

    {April 20th, 2018} by Ron Sussman

    As financial services professionals, retirement planning is one of the most important opportunities we have to assist our clients in a lasting and meaningful way. Retirement anxiety is among the most commonly reported concerns of working people of all ages, and for good reason. The vast majority of people saving for retirement have no idea how […]

    LIMRA Ponders the Annuity Puzzle

    {April 19th, 2018} by Kerry Pechter

    At the LIMRA-SoA Retirement Conference in Chicago last week, actuary Doug French of Ernst & Young revealed the secret sadness of the affluent retired professional who doesn’t have sleep-easy annuity income or longevity insurance to bolster his or her Social Security and pension. “They spend all their time looking for pockets of income to spend,” […]

    A.M. Best Affirms Credit Ratings of Athene Holdings Ltd. and Its Subsidiaries

    {April 19th, 2018} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of the members of Athene Group (Athene). Athene, which is focused on the fixed indexed and fixed annuity market segments, is the consolidation of the organization’s U.S. operating companies, along with Athene Life Re Ltd.(Bermuda), its […]

    Could tontines be an alternative to annuities?

    {April 19th, 2018} by Alicia H. Munnell

    We have a new brief on “tontines.” People get quite excited about this topic, so it’s good to know what they are talking about. A big challenge facing retirees is how to draw down their nest egg in retirement. The main consideration is insuring against “longevity risk” — the possibility of outliving one’s savings — […]

    The Nature of the Beast

    {April 19th, 2018} by Diana Britton, Michael Thrasher

    Despite the wider #MeToo movement, many women in the financial advisory industry who have been sexually harassed are still reluctant to come forward and report the abuse. Over the last few weeks, stories of women who have experienced sexual harassment in the financial services industry have poured into our inboxes. Many of those stories sound […]

    New SEC Proposal Should Even Out Your Best Interest Playing Field: ACLI

    {April 19th, 2018} by Allison Bell

    The American Council of Life Insurers (ACLI) today celebrated the birth of the U.S. Securities and Exchange Commission’s own fiduciary rule draft. SEC members voted 4-1 this afternoon to put the draft through a 90-day public comment period. Click HERE to read the original story via ThinkAdvisor. SEC Chairman Jay Clay said the SEC ought to move […]

    AXA reverses course on variable annuity buyout

    {April 19th, 2018} by Greg Iacurci

    AXA Equitable Life Insurance Co. is no longer proceeding with a variable-annuity buyout round that it had planned to do beginning in May. “AXA has decided to not move forward with the buyout program at this time,” AXA said in an email it sent to distributors today.  Click HERE to read the full story via […]

    SEC votes to open fiduciary regs for public comment, despite commissioners’ misgivings

    {April 19th, 2018} by Nick Thornton

    The Securities and Exchange Commission voted today to release a three-pronged proposed rule for public comment that would change the standard of care broker-dealers owe retail investors, require new client disclosures for all investment providers, and reinterpret the requirements of fiduciary advice. The total proposal ranges 1,000 pages in length. The public will have 90 […]

    CFP Board and NAPFA Announce New Collaboration

    {April 19th, 2018} by Bernice Napach

    Roughly six months after the Certified Financial Planner Board of Standards formalized its relationship with the Financial Planning Association, it has announced a collaboration with the National Association of Personal Financial Advisors (NAPFA), composed of fee-only planners. Under the new agreement, the CFP Board will encourage new CFPs to join NAPFA and participate in its […]

    SEC OKs Fiduciary Proposal

    {April 19th, 2018} by Melanie Waddell

    The Securities and Exchange Commission voted 4-1 on Wednesday to pass the agency’s standard of conduct, aka fiduciary, rulemaking package, with SEC Commissioner Kara Stein casting the dissenting vote. The proposal will go out for a 90-day comment period. “This was truly a Herculean task done in a very short period of time,” said Stein, […]

    Midland National Life Insurance Company launches new XL-CV Max

    {April 18th, 2018} by Midland National Life Insurance Company

    CHICAGO, April 17, 2018 (GLOBE NEWSWIRE) — Midland National® Life Insurance Company announced the release of a new Indexed Universal Life (IUL) insurance product. The new XL-CV Max is a permanent life insurance policy offering death benefit protection with the potential to accumulate cash value through interest crediting based on the performance of a selected stock […]

    #MeToo meets wealth management

    {April 18th, 2018} by Chelsea Emery

    Ask any woman in wealth management if she’s witnessed or experienced sexual harassment. Chances are, she has a story to tell. Earlier this year, I worked with two colleagues to conduct a survey on sexual harassment across a broad swath of industries. The response was overwhelming. More than 3,000 independent planners, wirehouse advisors, bankers, accountants, insurance […]

    FINRA names CEO of Janney Montgomery Scott to board

    {April 18th, 2018} by Andrew Welsch and Ann Marsh

    FINRA named the CEO of regional brokerage firm Janney Montgomery Scott to its board of governors, making it the third recent major career move between Wall Street and one of its chief regulators. Timothy Scheve was appointed by committee to complete the term of John Thiel, the former head of Merrill Lynch, who left FINRA’s […]

    Single Retirees Feel More Vulnerable to Longevity Risk

    {April 18th, 2018} by LIMRA SRI

    CHICAGO, April 12, 2018Annuity Ownership – New LIMRA Secure Retirement Institute (LIMRA SRI) research finds single retirees – particularly single women retirees – feel less secure about their financial security in retirement and are more concerned about outliving their savings than those who are married or have partners. The study finds only 64 percent of […]

    North American Company for Life and Health Insurance launches new Builder Plus IUL

    {April 17th, 2018} by North American Company for Life and Health

    CHICAGO, April 17, 2018 (GLOBE NEWSWIRE) — North American Company for Life and Health Insurance® announced the release of a new Indexed Universal Life (IUL) insurance product. The new Builder Plus IUL is a permanent life insurance policy offering death benefit protection with the ability to build cash value through interest crediting based on the performance […]

    3 Top New Life and Annuity Ad Campaigns

    {April 17th, 2018} by Allison Bell

    Life insurers are investing in new television ads to show that they really do want new customers. The list of companies that have unveiled new TV ads this week includes Brighthouse Financial, Lincoln Financial and Symetra. If the ads succeed at getting viewers’ attention, they could help sales of all life and annuity products from […]

    Something Unusual Happened to Q4 Annuity Sales: IRI

    {April 17th, 2018} by Allison Bell

    The Insured Retirement Institute thinks overall sales of annuities may have increased 0.3% between the fourth quarter of 2016 and the fourth quarter of 2017, to $48.4 billion. IRI gets its data on variable annuity sales from Morningstar Inc., and its data on sales of non-variable annuities from Beacon Research. Morningstar says variable annuity sales […]

    Nationwide Agency Shift to Have Little Effect on Life and Annuity Distribution: Spokesman

    {April 16th, 2018} by Allison Bell

    Nationwide Mutual Insurance Company today announced that it will shiftly entirely to an independent agency product distribution system by July 1, 2020. The Columbus, Ohio-based company already has relationships with about 10,000 independent agents in the United States. About 2,000 agents still have exclusive agent relationships with Nationwide. Click HERE to read the original story […]

    Nationwide will fully transition to independent agency distribution model by July 2020

    {April 16th, 2018} by Nationwide

    COLUMBUS, Ohio, April 16, 2018 /PRNewswire/ — As part of ongoing efforts to give agents the flexibility they need to grow and thrive, Nationwide is announcing its intention to shift entirely to an independent agency distribution model by July 1, 2020. The company is one of the largest carriers that currently sells products through both exclusive and independent […]

    Insurers still grappling with costly variable-annuity promises

    {April 13th, 2018} by Greg Iacurci

    Insurance companies are still trying to wriggle out of promises made years ago to consumers of their variable-annuity products, as certain contract features have proven too generous in light of market conditions such as persistently low interest rates. Click HERE to read the full story via InvestmentNewsNet; subscription required.          Article excerpts: […]

    Moore on the Life/Annuity Market: How can so many be so wrong on annuities?

    {April 13th, 2018} by Sheryl J. Moore

    Did you know that the biggest fear of Americans age 50 and older is running out of money in retirement?1 Did you know that an annuity is the one financial instrument that can guarantee an income you will never outlive? Let that sink in. We’ll get back to that in a minute. View Insurance Selling, […]

    SEC to Take Up Fiduciary Proposal on April 18

    {April 12th, 2018} by Melanie Waddell

    The Securities and Exchange Commission plans to consider the agency’s long-awaited — and much anticipated — fiduciary proposal on Wednesday. In an open meeting notice on the agency’s website, the securities regulator states that it will consider whether to propose: New and amended rules and forms to require registered investment advisors and registered broker-dealers to provide a brief relationship […]

    More Fiduciary Coverage » SEC to meet to consider advice-standards proposal

    {April 12th, 2018} by Mark Schoeff Jr.

    The Securities and Exchange Commission next week will consider a proposal to establish a new investment-advice rule for brokers. The April 18 meeting will involve consideration of a three-part proposal, according to a notice posted on the SEC website Wednesday night. The five-member commission is set to vote on a disclosure document for registered investment advisers and brokers […]

    Sneak peek at new SEC advice standard sparks hope, concern

    {April 12th, 2018} by Mark Schoeff Jr.

    The sneak peek the Securities and Exchange Commission has offered of its pending proposal on investment advice standards has sparked both hope and concern among investor advocates and industry representatives. In a notice posted on its website Wednesday, the agency indicated it will release a regulation on April 18 consisting of three parts: a disclosure document for […]

    What’s New in Annuities: March 2018

    {April 12th, 2018} by Wink's RockStars

    Wink’s AnnuitySpecs analysis provides an up-to-date view of the traditional fixed, multi‐year guaranteed, and indexed annuities being launched and retired on a monthly basis so you can quickly view trends in product development. AnnuitySpecs’ “What’s New” section will default to the last three months and one can view historical data in quarterly intervals. AnnuitySpecs Subscribers: […]

    What’s New in Life Insurance: March 2018

    {April 12th, 2018} by Wink's RockStars

    Wink’s LifeSpecs analysis tool provides an up-to-date view of the indexed universal life, indexed whole life, traditional universal life, traditional whole life, and interest-sensitive whole life being launched and retired on a monthly basis so you can quickly view trends in product development. LifeSpecs’ What’s New section will default to the last three months and […]

    Life Insurers Still Want Sticky Policyholders

    {April 12th, 2018} by Allison Bell

    Life insurance company executives may sound these days as if they think of policyholders more as burdens to shed than as assets to keep, but executives at LexisNexis see evidence that life insurers still want to attract and retain good customers. Click HERE to read the original story via ThinkAdvisor. LexisNexis — a news, legal and […]

    Biggest RIAs on Path to Nationwide Footprint

    {April 12th, 2018} by Cyril Tuohy

    Some of the nation’s largest registered financial advisors will achieve nationwide footprints in the next 10 years, according to a market expert. Fisher Investments, Edelman Financial Services, Mercer Advisors and United Capital Financial Advisors are on that path, said Chip Roame, managing partner of Tiburon Strategic Advisors. But that will still leave plenty of room […]

    Finra fines Park Avenue Securities $300,000 over variable annuity sales

    {April 12th, 2018} by InvestmentNews

    The Financial Industry Regulatory Authority Inc. has censured Park Avenue Securities and fined the firm $300,000 for problems in its supervision of variable annuity sales. In a letter of acceptance, waiver and consent, Finra said that from Jan. 1, 2013 through March 3, 2015, Park Avenue “failed to establish, maintain and enforce a supervisory system […]

    Voya creates a Chinese brand name for use in US

    {April 12th, 2018} by Editorial Staff

    Voya Financial, as part of an effort to cater to the Chinese community in the U.S. has created a Chinese-language version of its brand name and a “bilingual brand signature” with the help of the New York office Labbrand, a global brand strategy firm. The Voya Financial brand itself is less than four years, having […]

    Fifth Circuit Court of Appeals Invalidates the 2016 Final Department of Labor Fiduciary Rule and Related Prohibited Transaction Exemptions

    {April 12th, 2018} by Alden J. Bianchi, Steve Ganis

    What’s a financial advisor to do? On March 15, 2018, the Fifth Circuit Court of Appeals in Chamber of Commerce of the U.S. v. U.S. Dep’t. of Labor, No. 17-10238, 2018 U.S. App. LEXIS 6472 (5th Cir. Mar. 15, 2018) vacated – thereby invalidating – a series of seven rules (which we collectively refer to in this […]

    Boomers Are Also Hungry for More Advice About Insurance: IRI

    {April 12th, 2018} by Allison Bell

    Two weeks ago, the Insured Retirement Institute reported that even members of Generation X who have financial advisors may be getting less information than they want about personal protection insurance. Now, IRI has published another batch of survey data that suggests that baby boomers with financial advisors may be suffering from a similar insurance advice […]

    A pathway for building greater trust among global regulators

    {April 12th, 2018} by Thomas Leonardi

    An important milestone for the insurance industry was achieved in September 2017 with the signing by the U.S and the EU of the long anticipated Covered Agreement on (re)insurance.  When I first became Commissioner of the State of Connecticut in 2011, many European and U.S. stakeholders consistently raised the challenges and expense of complying with U.S. regulatory […]

    Many Young Consumers Are Looking for You: Survey

    {April 12th, 2018} by Allison Bell

    Younger consumers are much more likely than baby boomers to say they are looking for financial advisors. Analysts from LIMRA and Life Happens have reported that finding in summaries of results from a joint online survey of 2,082 US. adults The analysts classify people born from 1952 to 1964 as baby boomers; people born from […]

    RetireOne Expands Platform with New Solution Designed to Help RIAs Manage Market Volatility

    {April 12th, 2018} by RetireOne

    SAN FRANCISCO, April 12, 2018 /PRNewswire/ — RetireOne, the leading independent platform for fee-based insurance solutions, announced a partnership with Great-West Financial to offer their first-of-its-kind, fee-based Index-Linked Variable Annuity (ILVA). “With the addition of index-linked variable annuities to our platform, RIAs will now have access to a category of principal protection instruments that haven’t traditionally been available […]

    Nonbuyers Like Annuities, So Why Aren’t They Buying?

    {April 12th, 2018} by Susan Rupe

    CHICAGO — Sales of deferred annuities may have dropped from 2011 to 2017 but that doesn’t mean consumers don’t like annuities and the guaranteed lifetime income they provide. A sneak peak of LIMRA’s upcoming Annuity Buyer/Nonbuyer Survey reveals that many consumers who are not buying annuities for retirement income remain open to buying them in […]

    In Search Of The ‘Perfect 10’ Life Insurance Prospect

    {April 12th, 2018} by Susan Rupe

    CHICAGO — What makes people likely to buy life insurance? Vikram Kamath will describe some characteristics of the ideal consumer during today’s Life Insurance Conference. Kamath is director of LIMRA’s new Center of Excellence for Data Analytics. He will give a sneak peek of the findings from LIMRA’s Life Insurance Buyer Survey, which will be […]

    Guardian Life CEO: Insurer Ready to Adapt to a ‘Fast-Changing World’; Net Rises 15% in 2017

    {April 12th, 2018} by AM Best

    NEW YORK – Guardian Life Insurance Company of America posted a 15% jump in net income in 2017, making it a strong year despite the challenges of natural disasters and the political landscape, the company’s president and chief executive officer said. Net income increased to $423 million. Premiums increased 1% to $9.4 billion. Total revenue […]

    A.M. Best Removes From Under Review With Positive Implications and Upgrades Issuer Credit Rating of Bankers Life Insurance Co

    {April 12th, 2018} by AM Best

    Oldwick – A.M. Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” from “bb” and affirmed the Financial Strength Rating of B (Fair) of Bankers Life Insurance Company (Bankers Life) (Durham, NC). The outlook assigned to these Credit Ratings (ratings) is positive. Bankers Life, through an intermediate holding […]

    Accused Parkland killer wants to give inheritance to victims: Attorney

    {April 12th, 2018} by Bill Hutchinson

    The alleged gunman in the Valentine’s Day massacre at Marjory Stoneman Douglas High School in Florida wants to give any inheritance due him from his late mother’s estate to the victims’ families or an organization that will help the community heal, his attorneys said Wednesday. Nikolas Cruz, 19, appeared at a hearing in Broward County […]

    Look at the Client’s Whole World

    {April 11th, 2018} by Jason Wellman

    The previous bear market ended in March of 2009. The current bull market has lasted more than eight years. That makes this advance in equities the second oldest on record without at least a 20% drop in the S&P 500 Index. To the casual observer, this would seem like a purely positive development for the financial services […]

    Interesting Angles on the DOL’s Fiduciary Rule #86

    {April 11th, 2018} by Fred Reish

    The Fiduciary Rule: What’s Next (Part 2)? This is my 86th article about interesting observations concerning the Department of Labor’s (DOL) fiduciary rule and exemptions. These articles also cover the DOL’s FAQs interpreting the regulation and exemptions and related developments in the securities laws. This is the second of my four-part series on the critical questions […]

    Must-follow procedures when transferring variable annuities

    {April 11th, 2018} by Alan J. Foxman

    Q: Following-up on February’s question, we occasionally have new reps that come on board who have clients with variable annuities. Often, these annuities cannot transfer over for one reason or another and, since the clients want us to handle everything for them, we’ll try and find similar VAs and do a 1035 exchange. Of course, we […]

    Oxford Life’s InstaWrite to Expedite the Life Insurance Sales Process

    {April 11th, 2018} by Oxford Life Insurance Company

    PHOENIX (April 10, 2018) — Oxford Life Insurance Company has initiated a new, simpler and speedier life insurance qualification process. Oxford Life InstaWriteSM is a streamlined and better experience for both agents and clients. InstaWrite improves upon the traditional life insurance sales process by featuring an almost instant health assessment. As of April 5, agents […]

    Met Looks To Reimagine, Transform Insurance Industry

    {April 11th, 2018} by MetLife, Inc

    April 10, 2018 — NEW YORK–(BUSINESS WIRE)–Today, MetLife announced a multi-year collaboration with the Massachusetts Institute of Technology (MIT) focused on accelerating innovative technologies that will transform the insurance industry. The announcement furthers MetLife’s comprehensive and disciplined innovation approach of bringing together leading companies and institutions to identify and create disruptive solutions for the industry. “Every […]

    FINRA Hires New Exam Chief From Schwab

    {April 11th, 2018} by Melanie Waddell

    The Financial Industry Regulatory Authority said Wednesday that Bari Havlik, who most recently served as senior vice president and chief compliance officer for Charles Schwab, has been named the self-regulator’s new executive vice president for member supervision, replacing Susan Axelrod. Havlik, who starts at FINRA on April 30, will lead the Member Regulation program, which […]

    Like it or not, annuities are coming to retirement plans

    {April 11th, 2018} by Editorial Staff

    Some would argue that annuities and 401(k) plans should never mix. To those individuals, we say brace yourselves, because legislation is being considered in Congress that could clear a path for more employers to offer annuity products in their retirement plans. The mere mention of annuity products suddenly populating the investment menus of company-sponsored retirement-savings […]

    Acquisition Helps InsurMark Push Further Into Advisor Market

    {April 11th, 2018} by Cyril Tuohy

    Simplicity Financial Marketing’s acquisition will help InsurMark push deeper into the fee-based advisory world. “This transaction is about executing on our plan,” said InsurMark founder Steve Kerns, in a news release. “Simplicity sought us out based on our 35-year history, our leadership, our vision and our re-engineered operational leadership.” Two years ago, Houston-based InsurMark recast […]

    EY Launches Hybrid Financial Wellness Service

    {April 11th, 2018} by Ernst & Young LLP

    Ernst & Young LLP (EY) has launched EY Navigate, a hybrid digital/human financial wellness service powered by EY professionals. EY Navigate supports users as they manage the twists and turns of their financial life journeys, breaking down complex tasks, such as retirement planning and debt management, into bite-sized activities. EY also helps users develop a personalized […]

    JUST PLAIN TALK: Don’t bury the fiduciary rule: OPINION

    {April 11th, 2018} by Buz Livingston

    The Department of Labor’s fiduciary rule has had a long, strange trip, but like Mark Twain’s death, its demise has been exaggerated. To review, under the Employee Retirement Income Security Act of 1974, trustees have a fiduciary obligation to work in a participant’s best interest. In 2015, after years of contentious debate and vociferous howls […]


    {April 11th, 2018} by AIG

    In 2017 AIG restructured their organization and added new senior leaders and underwriting talent. In his annual letter to shareholders, Brian Duperreault talks about how AIG is poised to capitalize on these changes in 2018 and beyond. Read more:http://annual.aig.com/2017/president-and-ceo-letter?cmpid=wb/d/so/tw/investor-relationns_annual-report_2017/aiginsurance_6545t-01_x/aig///20180327174500  

    Contact » Old strategy with a new twist: Dollar cost averaging and annuities: BLOG

    {April 11th, 2018} by Tim Seifert

    Today’s investors fall on a spectrum when it comes to their tolerance for risk. Most, roughly two-thirds, are moderate risk takers, while about 1 in 10 are high risk takers and the remaining quarter are very risk averse. While market volatility did not seem to negatively impact consumer sentiment as evidenced by the University of […]

    Clayton Says ‘Sooner the Better’ for SEC Fiduciary Rule

    {April 11th, 2018} by Ginger Szala

    Securities and Exchange Commission Chairman Jay Clayton said Tuesday that the fiduciary rule remains a priority for the organization he leads, though he didn’t share an exact time frame for its release. “I’ve been clear, the sooner the better. We’re working through the process. I’d like to see it very soon,” Clayton said at the Equity […]

    Fidelity Is Said to Overhaul Fees on Financial Advice

    {April 11th, 2018} by Emily Zulz

    Fidelity Investments is overhauling what it charges clients for financial advice, The Wall Street Journal reports. According to the report, costs will be tied strictly to how much a client invests with Fidelity, whereas the current fee model assigns prices according to a varying mix of a customer’s investment preferences, degree of interaction with Fidelity and […]

    5 Top Q1 Annuity Earnings Wild Cards

    {April 10th, 2018} by Allison Bell

    These days, Ameriprise Financial Inc. is usually the first major annuity issuer to post its quarterly earnings. When Ameriprise posts its earnings for the first quarter, on April 23, that will give agents, brokers and other insurers new clues about how the U.S. annuity market is really doing. Reinsurance Group of America Inc. will give some […]

    Seeman Holtz swoops for OK-based life insurance business

    {April 10th, 2018} by Lyle Adriano

    Seeman Holtz Property & Casualty has revealed that it has acquired the life insurance business of Federal Employee Services, in Edmond, Oklahoma. Federal Employee Services is a financial services company that serves civil service and military employees, helping them understand their financial options as rules and regulations change, a release said. Following the transaction, Seeman […]

    3 Reasons Tax Season Is THE Time to Talk About Annuities

    {April 10th, 2018} by Chris Conklin

    Currently, your clients are facing the stress of tax season. They’re gathering documents, filing forms and hoping that, in the end, they get a refund. Throughout the whole process, clients are also getting a reminder of how much tax they are paying on the income produced by their investments. This combination creates the perfect environment […]

    Kuvare Acquires United Life

    {April 10th, 2018} by Kuvare US Holdings, Inc.

    April 2, 2018 – Kuvare US Holdings, Inc. (“Kuvare”), a growth-oriented life and annuity business, is pleased to announce the completion of its purchase of United Life Insurance Company (“United Life” or “The Company”). With this latest acquisition, Kuvare’s pro forma consolidated assets are now valued at over $3.7 billion. United Life was founded in 1962 […]

    What Happened to Life Application Activity in March Might Shock You

    {April 10th, 2018} by Allison Bell

    MIB Group Inc. says life insurance application activity was either pretty good in March or terrific, depending on the yardstick used. MIB includes the number of business days in a month when calculating monthly life application activity levels. This year, March had two fewer business days in it than March 2017 had. Because of the […]

    Oxford Life’s Multi-Year Guaranteed Annuity Rated 8th Best-Selling by Wink’s Report

    {April 10th, 2018} by Oxford Life Insurance Company

    PHOENIX, April 9, 2018 /PRNewswire/ — Oxford Life Insurance Company’s Multi-Select™ 6-Year Annuity was ranked the eighth best-selling Multi-Year Guaranteed Annuity (MYGA) product via Independent Distribution in the third quarter of 2017, according to the Wink’s Sales & Market Report. Wink’s is the longest-running and most comprehensive source of indexed insurance product sales and trends. “What sets us apart is our focus […]

    Guaranteed income tops boomers’ retirement wish list

    {April 9th, 2018} by Mary Beth Franklin

    Monthly guaranteed income is the most important single trait that aging baby boomers look for in a retirement investment, ranked No. 1 or No. 2 by 41% of participants in the latest annual survey of retirement expectations and preparedness conducted by the Insured Retirement Institute. The eighth annual update of boomers’ retirement expectations showed some […]

    Robots Take Over Life Insurance Conference

    {April 9th, 2018} by Allison Bell

    The people who will shape the future of the U.S. life insurance industry are spending more time thinking about robots. Thousands of industry actuaries, marketing executives and technology strategists are converging in Chicago today for the 2018 Life Insurance Conference — the latest edition of an annual conference series that started in 2003. Event organizers scheduled no […]

    Editorial: Universal Life a Blueprint For Building Black Wealth: Editorial

    {April 7th, 2018} by Editorial Staff

    While many of us were thinking about and remembering the turbulent events of 1968, this week brought another significant nod to the past with a commitment to the future. The Universal Life Insurance Co. building isn’t a Pyramid, though its architecture has an Egyptian theme. It’s not the tallest building in the city, but then […]

    How To Finally Get Your Financial Life In Order

    {April 6th, 2018} by Next Avenue

    If you’re in your 50s or 60s and have put off managing your money or even learning how to do it, author John Schwartz feels your pain. The New York Times science writer was just like you until he decided, in his late 50s, enough was enough. In his new, often surprisingly funny and highly practical book, This Is […]

    Prudential Unwraps GIFT of Simplicity, Affordability

    {April 6th, 2018} by Cyril Tuohy

    An annuity unveiled this week by Prudential Financial ushers in a new era of simplicity and affordability, company executives said. The deferred income annuity, known as GIFT, or Guaranteed Income for Tomorrow, allows applicants to enroll through work with monthly contributions of as low as $100. GIFT is designed to supplement retirement benefits of workers […]

    Global Atlantic Arms Financial Advisors with Downturn Defense – An Educational Resource on Stock Market Volatility

    {April 6th, 2018} by Global Atlantic Financial Group

    NEW YORK–(Business Wire)–Global Atlantic Financial Group has released “Downturn Defense,” a series of educational resources to help financial advisors address client concerns in a challenging market environment. Materials were developed to equip advisors with on and offline educational materials to prepare advisors for client conversations about market volatility and how it can affect retirement income. ”Downturn […]

    Ellevate Network Welcomes AXA Insurance Company as Newest Corporate Partner

    {April 5th, 2018} by Ellevate Network

    AXA will sponsor programming designed to provide expertise on entrepreneurial business management and protection from risk to the Ellevate community. Ellevate Network, the leading network for professional women, welcomes AXA Insurance Company, AXA’s premier US commercial property, casualty, and specialty insurance carrier, as their newest corporate partner. Known for its high-caliber educational content and quality networking […]

    An Ode to Life Insurance

    {April 5th, 2018} by Bethany Mandel

    When I was 16 years old, my mother died. When I was 19, my father did. For many reasons, the experiences were very different; but one of the most striking was the fact that my mother had a valid life insurance policy, and my father did not (because he wasn’t totally honest on his health […]

    DPL Financial Partners Teams Up with Integrity Life

    {April 5th, 2018} by DPL Financial

    LOUISVILLE, KY, April 05, 2018 /24-7PressRelease/ — DPL Financial Partners (“DPL”), the insurance network for registered investment advisors (“RIAs”), today announced an agreement with Integrity Life Insurance Company (“Integrity Life”) to offer products to RIAs nationwide. The alliance expands DPL’s product suite with versions of the Cincinnati-based insurer’s IncomeSource® single premium immediate annuity and MultiVantage® […]

    Should My Neighbor Buy that Indexed Annuity?

    {April 5th, 2018} by Kerry Pechter

    My 60-year-old friend went to a free retirement seminar and met an investment advisor who recommended that she move 60% of her savings into a fixed indexed annuity for income at age 70. What should she do? You decide. A neighbor recently asked me to help her understand an indexed annuity that she was thinking […]

    Allianz Finding Traction with B/D, RIA Channels

    {April 5th, 2018} by Cyril Tuohy

    Allianz is finding traction with fixed indexed annuities in the financial advisory world with the top-selling FIA in the independent broker-dealer channel. And Tampa-based advisor Barry Flagg can see why — though with some caveats. “I’m a fan of the concept and the concept is well executed by some carriers, but not well executed by […]

    When to Cash in a Life Insurance Policy

    {April 4th, 2018} by Abby Hayes

    Whether to cash in a life insurance policy is an important decision. The choice can have a number of financial implications, including tax liability. Here are some factors to consider before cashing in a policy. If you’ve been reading on Dough Roller much, you may be aware that we tend to advocate for term life insurance […]

    Wife, lover accused of murdering husband for life insurance

    {April 4th, 2018} by WSB

    GWINNETT COUNTY, GA (WSB/CNN) – A Georgia woman and her alleged lover, who was also a family friend, were denied bond on charges of murder in the November shooting death of the woman’s husband. Police Detective David Smith says since he first began interviewing Tia Young and Harvey ‘Tim’ Lee about the death of the […]

    City unveils revived, repurposed Universal Life Insurance building

    {April 4th, 2018} by WMCActionNews5.com Staff

    MEMPHIS, TN (WMC) –The City of Memphis unveiled a revived Universal Life Insurance Co. building. The building was brought back to life due to a public-private partnership with the city. Universal Life was founded in 1923 by Dr. J.E. Walker, A.W. Willis Sr., and M.W. Bonner. It grew to become the fourth-largest African-American-owned life insurance […]

    Insurance Group Punts On Fiduciary Rule For Annuities, Wants More Comments

    {April 4th, 2018} by Tracey Longo

    A National Association of Insurance Commissioners working group has voted to kick the can down the road on its controversial fiduciary standard, opting instead to open up another 30-day comment period on the proposed annuity sales standard. The disrupting factor, not surprisingly, is the March 15 Fifth Circuit Court of Appeals decision vacating the entire Department of […]

    Want to Do Better Than Bonds? Consider Fixed Indexed, Fixed-Rate Annuities

    {April 4th, 2018} by Kevin Nuss

    Bond yields are low. How can investors get a better return without taking on more risk?  Both plain fixed-rate annuities and more complex fixed indexed annuities (FIAs) can beat bonds. A new study* from famed economist Roger Ibbotson says that investors should consider FIAs as a low-risk bond alternative likely to produce better returns. Ibbotson’s […]

    Richard Salgado Selects National Life As Life Insurance Provider

    {April 4th, 2018} by National Life Group

    Montpelier, Vermont – Richard “Big Daddy” Salgado, who has built a business helping professional athletes get the insurance coverage they need, has selected National Life Group as his firm’s life insurance provider. Salgado was a standout football player at the University of Maryland who went on to become featured by sports broadcasts such as NFL Network, […]

    Using Variable Annuities as a Tax-Friendly Rebalancing Tool

    {April 4th, 2018} by Scott Stolz

    Given the run-up in stock prices over the past several years, many advisors have struggled with how they can reduce their clients’ equity exposure on assets outside of retirement plans while minimizing the tax impact typically triggered by these portfolio reallocations. Common strategies include tax-loss harvesting, making a charitable donation using appreciated stock, and a […]

    Annuities vs. modified endowment contracts

    {April 4th, 2018} by Keith Singer

    Although tax-deferred annuities will delay the due date of tax liability, taxes will eventually be due at some point because eventually the non-spousal beneficiaries will be required to take the money out of the contract and pay taxes. Modified endowment contracts (MECs) are life insurance contracts that were created by an act of Congress in […]

    Penn Mutual Introduces Survivorship Choice Whole Life

    {April 4th, 2018} by Penn Mutual

    HORSHAM, Pa. – April 2, 2018 – Penn Mutual, a Fortune 1,000 Company, introduced its latest permanent life insurance product, Survivorship ChoiceSM Whole Life—making Penn Mutual the only carrier in today’s market to offer survivorship life insurance products in both the whole life and indexed universal life spaces. Designed to provide a survivorship life insurance solution […]

    Are annuities finally getting some respect?

    {April 4th, 2018} by Greg Iacurci

    For years, financial advisers have had a love-hate relationship with annuities. The financial products, which offer a guaranteed stream of income, have long been maligned by some financial advisers and the broader public as being costly, confusing and opaque. Click HERE to read the full story via InvestmentNews; registration required.

    Taxes and Tactics: Remember Variable Annuities

    {April 3rd, 2018} by Scott Stolz

    Given the run up in stock prices over the past several years, many advisors have struggled with how they can reduce their clients’ equity exposure on assets outside of retirement plans while minimizing the tax impact typically triggered by these portfolio reallocations. Common strategies include tax-loss harvesting, making a charitable donation using appreciated stock, and […]

    Ibbotson: Can Fixed Indexed Annuities Beat Bonds in Retirement Portfolios?

    {April 3rd, 2018} by Bernice Napach

    Roger Ibbotson, best known as the founder of Ibbotson Associates, an asset allocation research firm, has published new research championing fixed indexed annuities as an alternative to bonds for investors approaching retirement. Those investors usually increase their bond holdings to reduce risk in their portfolios, but doing so in the current low-yield environment means risking […]

    How Annuities Can Relieve The Pain Of Taxes

    {April 3rd, 2018} by Chris Conklin

    It’s crunch time for clients who have not yet filed their income tax returns, and some clients may be feeling the pain of seeing how much tax they are paying on their investments. This frustration can set the stage for you to discuss how purchasing an annuity can help reduce the amount of tax they […]

    Luba Losyev Named Vice President, Technology, at Legacy Marketing Group

    {April 3rd, 2018} by Legacy Marketing Group

          For Immediate Release PETALUMA, CA, April 2, 2018—Luba Losyev has been named Vice President, Technology, at Legacy Marketing Group®. Mrs. Losyev, who has been with Legacy 23 years, will be responsible for strategic leadership of the company’s ongoing investments in IT infrastructure and implementing its technology goals and objectives. Mrs. Losyev will […]

    InsurMark Announces Equity Sale to Simplicity

    {April 3rd, 2018} by InsurMark

          Press Release For Immediate Release. InsurMark Announces Equity Sale to Simplicity Houston, TX: April 3, 2018 New capital structure fuels the Advisor Development Organization™. “Today, we are proud to announce the next step in our continuing evolution. We have completed a transaction with Simplicity Financial Marketing Group Holdings, Inc. (Simplicity) that will […]

    One-Third Of Indexed Annuities Sold With Hybrid Indexes

    {April 3rd, 2018} by Cyril Tuohy

    One-third of all fixed indexed annuities are sold with hybrid indexes, which are usually designed to control volatility, according to fourth-quarter data. Those products benchmark typical indexes, such as the S&P 500, and combine with other gauges, including proprietary indexes, to control volatility. Companies say hybrid indexes offer choices for consumers who want growth without […]

    Pay Day: In a tighter labor market for advisors, compensation is rising, as are firms’ efforts to make work more enjoyable

    {April 3rd, 2018} by Charles Paikert, Tobias Salinger

    By Charles Paikert RIAs are flush, and odds are that revenue and AUM are up at your advisory firm. So, have you gotten a raise yet? Many of your counterparts around the country have, along with lots of perks intended to keep them happy at their firms. Click HERE to read the original story. Over […]

    Making Annuities More Attractive

    {April 3rd, 2018} by John Rekenthaler

    Unloved Ask Morningstar’s retirement-methodology team about annuities, and they will offer fulsome praise. When they model investment strategies for retirees, they invariably end up recommending big dollops of annuities for those that need lifetime income. The reason, as Morningstar’s Paul Kaplan states, is that “self-created longevity insurance is very expensive.” Retirees who want guaranteed income—and […]

    Life Insurers Face Digital Age 2.0

    {April 3rd, 2018} by John Holloway

    Are life insurance companies ready for the next phase of the digital age? As we enter 2018, the life insurance industry is still in a downturn. According to the MIB Life Index, which tracks nearly 90% of life insurance application activity in US and Canada, 2017 ended down 1.8%. 2018 is currently down 4.4% YTD […]

    GoLookUp Launches Comprehensive Unclaimed Money Search

    {April 2nd, 2018} by GoLookup.com

    WILMINGTON, Del., April 2, 2018 /PRNewswire/ — All across the United States, there is unclaimed money that people are unaware of with an average of $900 being owed to each of them. Finding the unclaimed money can be time-consuming as it requires going to the offices where public records are held about the money and estates that belong to U.S. residents. […]

    MetLife Makes Exec Change in Wake of Annuity Charge

    {April 2nd, 2018} by Cyril Tuohy

    Marlene Debel, CFO for MetLife, has been appointed to lead the company’s Retirement & Income Solutions business, the company said. The move comes after MetLife in February announced it would take a pre-tax charge of $510 million related to its group annuity business to compensate for unpaid benefits to about 13,500 group annuitants going back […]

    Here’s a Retirement Strategy That Can Promise You Won’t Run Out of Money

    {April 2nd, 2018} by Motley Fool

    Millions of Americans are poised to enter retirement in terrible financial shape. Fully 42% of them have $10,000 or less socked away for their future, per a recent GOBankingRates survey. Many of them are aware of their predicament, too, with the “2017 Retirement Confidence Survey” finding that 39% of respondents are not confident that they’ll have […]

    Think twice before naming your trust as the owner or beneficiary of your annuity

    {April 1st, 2018} by Keith Singer

    One of the major benefits of a deferred annuity is the ability to delay paying taxes on all of the gains. By kicking the tax-liability can down the road, you are essentially utilizing an interest-free loan of the government’s tax cut while you continue to enjoy compounding growth within your annuity. Moreover, the IRS allows […]

    4 Life Insurance Agents Accused in $1.9M Fake Policy Scam

    {April 1st, 2018} by Cyril Tuohy

    Four Southern California life insurance agents have been arrested in connection with stealing $1.9 million in advance commissions by submitting fraudulent insurance applications, authorities said. Mohammed Kakooza, 44, Margret Birabwa, 35, Michael C. Monday, 43, and Denis E. Osikol, 36, have pleaded not guilty to charges of theft, misrepresentation, money laundering and falsifying tax returns, […]