We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!


media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us


Close [x]

Archive for January 2019


  • Industry Articles (21,372)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (428)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (809)
  • Wink's Articles (354)
  • Wink's Inside Story (276)
  • Wink's Press Releases (123)
  • Blog Archives

  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006

    {January 31st, 2019} by The Society for Annuity Facts and Education

    Des Moines, Iowa. January 31, 2019- The Society for Annuity Facts and Education (SAFE) is pleased to welcome Sheryl J. Moore as its new Chief Research Officer (CRO).  As head of research for the organization, Moore will provide fact-checking services to media outlets, ensure the nonprofit has access to timely annuity statistics, and structure all […]

    The Annuity Model is Broken

    {January 30th, 2019} by Sheryl J. Moore

    Do you remember the last time that you watched CNN, CNBC, “Shark Tank,” “The Profit,” or even the market update segment of the news? While viewing this programming, have you ever seen commercials for financial services products? I know that I have. I recall commercials for mutual funds and securities. Once in a great while, I have […]

    Keynote Address

    {January 30th, 2019} by Wink's RockStars

         “We going to crank up the volume in Phoenix!”   Sheryl J. Moore, our President and CEO of Wink, Inc. will be giving the keynote address at Legacy’s 2019 IMO Meeting, Amplify on February 7, 2019.       Contact your Legacy Marketing Regional for more details.         

    Great American Adds 3-Year MYGA

    {January 30th, 2019} by Allison Bell

    Product designers at Great American Life Insurance Company looked at recent stock market performance and decided consumers might be in the mood for a plain vanilla annuity. The Great American Insurance Group unit has introduced the American Freedom Classic 3 contract, a multi-year guaranteed annuity (MYGA) contract with a fixed interest rate that’s guaranteed to stay the […]

    Arthur J. Gallagher & Co. Acquires Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC

    {January 30th, 2019} by Arthur J. Gallagher & Co.

    ROLLING MEADOWS, Ill., Jan. 28, 2019 /PRNewswire/ — Arthur J. Gallagher & Co. today announced the acquisition of Urbandale, Iowa-based Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC, wholly owned subsidiaries of Inversion Holding Company LLC. Terms of the transaction were not disclosed. Together, Partners Advantage and AMZ Financial rank among the largest independent life insurance wholesale […]

    Protective Life Enters Agreement with Great-West to Reinsure Individual Life Insurance and Annuity Business

    {January 30th, 2019} by Protective Life

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, Dai-ichi), announced that it has reached an agreement under which its subsidiaries, Protective Life Insurance Company (Protective Life), and Protective Life & Annuity Insurance Company, will acquire via reinsurance substantially all of Great-West Life & Annuity Insurance Company’s […]

    Great-West Lifeco to sell U.S. individual life insurance and annuity business

    {January 30th, 2019} by Great-West Lifeco Inc

    Winnipeg, January 24, 2019 . . . Great-West Lifeco Inc. (Great-West Lifeco) today announced its Colorado-based subsidiary, Great-West Life & Annuity Insurance Company (GWL&A), has reached an agreement to sell, via reinsurance, substantially all of its individual life insurance and annuity business to Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation (Protective). The business […]

    AM Best Comments on Credit Ratings of Protective Life Corporation and Its Subsidiaries Following Announced Reinsurance Agreement

    {January 30th, 2019} by A.M. Best

    Oldwick – AM Best has commented that the Credit Ratings of Protective Life Corporation (Protective) (headquartered in Birmingham, AL) and its insurance subsidiaries remain unchanged following the announcement that it has entered into a reinsurance agreement to acquire approximately $20.0 billion of life and annuity liabilities of insurance subsidiaries of Great-West Lifeco, Inc. (Great-West). Under the terms […]

    DPL Financial Partners and Security Benefit Life launch ClearLine: A new fixed index annuity built for fee-only advisers and their clients

    {January 30th, 2019} by DPL Financial Partners

    LOUISVILLE, Ky., Jan. 29, 2019 (GLOBE NEWSWIRE) — Today, DPL Financial Partners (“DPL”), the insurance network for registered investment advisors (“RIAs”), and Security Benefit Life Insurance Company (“Security Benefit”) launched a new fixed index annuity built in response to feedback from DPL’s RIA members. The commission-free1 fixed index annuity – ClearLine – has a simplified product […]

    A Close Look at Ibbotson’s Research on FIAs

    {January 30th, 2019} by Michael Edesess, Robert Huebscher

    The market for fixed-indexed annuities (FIAs) – previously known as equity-indexed annuities – is growing rapidly, with sales of more than $60 billion annually. We did a careful analysis of two products that are available on the market. Our conclusion is that these products are not a bad choice for an investor who is extremely sensitive […]

    Ladder Courts Fee-Only Advisors

    {January 29th, 2019} by Allison Bell

    A web-based life insurance retailer is now seeking relationships with fee-only financial advisors. Ladder Financial Inc. has offering advisors a new Ladders for Advisors program. Fee-only advisors can use the program to help clients get term life insurance, Ladder says. Ladder says it will offer advisors information about life insurance, and a dashboard that will help […]

    Nevada Fiduciary Duty Proposal Has Strength, Needs Defining: Analysts

    {January 29th, 2019} by John Hilton

    Nevada regulators shocked the industry last week with tough draft fiduciary regulations on broker-dealers and registered representatives. With some are calling the latest state regs tougher than the Securities and Exchange Commission’s best-interest proposal, it isn’t all bad news for those who sell annuities in Nevada. For one thing, commissions remain acceptable under the draft proposal, […]

    Readers weigh in on annuity buyout offer

    {January 29th, 2019} by Mary Beth Franklin

    As a nation, we have become accustomed to divided politics. As a financial planning community, we have our own version of contentious issues, and one of those hot-button issues involves variable annuities. Click HERE to read the full story via InvestmentNews; registration required. 

    Simplicity Acquires LTC Hybrid Distributor

    {January 29th, 2019} by Allison Bell

    An insurance distributor with private equity backing has announced another distribution company deal. Simplicity Group Holdings said Thursday that it has acquired America’s First Financial Corp. of St. Peters, Missouri. America’s First was founded in 1960. It now focuses on wholesaling long-term care (LTC) planning programs based on use of life insurance policies and annuity contracts. […]

    DOL, SEC Fiduciary-Related Rules to Be a ‘Heavy Lift’: Attorney Choi

    {January 29th, 2019} by Elizabeth Festa

    Richard Choi’s favorite winter pastimes are hitting the slopes and shooting sporting clays, but he was too busy in mid-January helping the Insured Retirement Institute craft a comment letter to the Securities and Exchange Commission on the agency’s variable annuity summary prospectus proposal to relish in such pleasures – as of yet. A partner in […]

    Nevada’s ‘Expansive’ Fiduciary Plan Shocks BDs, RIAs

    {January 29th, 2019} by Melanie Waddell

    The proposed fiduciary regulation issued by Nevada on Friday is sending shockwaves through the broker-dealer and registered investment advisor communities, according to ERISA attorneys Fred Reish and Brad Campbell of Drinker Biddle & Reath. The Nevada proposal has “really surprised the regulated community,” particularly broker-dealers, said Reish, a partner and head of Drinker Biddle’s ERISA […]

    More States Advance Their Own Fiduciary Rules

    {January 29th, 2019} by Bernice Napach

    While the SEC’s pending best interest proposal is further delayed by the government shutdown, several individual states are moving ahead with their own fiduciary proposals. Last Friday, Nevada Securities Division introduced a fiduciary rule to implement legislation that had passed in mid-2017, and is soliciting public comment until March 1. The proposed rule, however, allows […]

    Iowa insurance company to receive $19 million in incentives after recent layoffs

    {January 29th, 2019} by Kevin Hardy

    Sammons Financial Group is on track to receive roughly $19 million in state and local taxpayer incentives a month after the company announced it would lay off workers across four states.  Sammons plans to spend $65 million on new corporate offices in West Des Moines that will bring together all its local employees currently spread across three […]

    New York Regulators Roll Eyes at ‘Proprietary’ Accelerated Life Underwriting

    {January 29th, 2019} by Allison Bell

    The New York State Department of Financial Services wants life insurers to prove that the new accelerated underwriting programs they’re using are reasonable, fair and transparent. The department has sent all life insurers authorized to write coverage in the state a letter warning them about their responsibility to vet any “external consumer data and information sources,” […]

    Why A Down Market Is The Perfect Time To Recommend An FIA

    {January 29th, 2019} by Sean A. Ruggiero

    In 2018, the stock market suffered the worst December since the Great Depression. We see the headlines on the internet, we hear about it on the news, even our President is talking about it. So what does this drop in the stock market mean to your clients, and what might you do about it? Click […]

    3 Ways to Position Indexed Universal Life

    {January 29th, 2019} by Tony O’Kussick

    As with any trend, there are reasons to back it up. IUL is the fastest growing individual life insurance product. LIMRA shows 2018 second quarter growth at 23%. In its simplest form, it is a universal life product supported by the cash value that is credited by the index it is tied to and the […]

    Delaware Life Insurance Company Continues Its Growth by Focusing on Its Customers

    {January 29th, 2019} by Delaware Life Insurance Company

    WALTHAM, Mass., Jan. 24, 2019 /PRNewswire/ — Over five years ago, Delaware Life Insurance Company (“Delaware Life”) changed hands but remained committed to its enduring focus—its customers. Delaware Life’s goal is to deliver “pure value” to its customers, which means developing competitive annuity products, providing a seamless customer experience, and serving as an honest and reliable financial […]

    Jackson Launches Elite Access Advisory IISM

    {January 29th, 2019} by Jackson National Life Insurance Company

    NASHVILLE, Tenn.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced the launch of Elite Access (EA) Advisory II, a fee-based investment only variable annuity (IOVA) with no mortality, expense and administration (M&E&A) charge. EA Advisory II is designed to enhance traditional investing with expertly-constructed portfolios, diverse investment options and tax advantages. Greg Cicotte, president and chief […]

    Greenwood Village’s Great-West Life & Annuity sells insurance arm for $1.2 billion

    {January 29th, 2019} by Aldo Svaldi

    Great-West Life & Annuity Insurance Co. in Greenwood Village announced Thursday that it will hand off the bulk of its insurance and annuity business to Protective Life Insurance Co. in a $1.2 billion deal. Canada’s Great-West Lifeco owns Great-West Life & Annuity, which operates three business units, the largest being Empower Retirement, the country’s second-largest provider of […]

    Why Older Millennials Need To Start Taking Life Insurance Seriously

    {January 29th, 2019} by Robert Farrington

    This fact might scare most millennials, but we’re all going to die someday. It’s one of the only certainties in life – along with taxes. However, a recent study by Budget Insurance found that 82% of millennials don’t know what life insurance is for – even as they are aging, starting families, and dealing with more complex […]

    Why you should keep your New Year’s resolution to get life insurance

    {January 29th, 2019} by Jessy Bains

    We’re well into 2019 and New Year’s resolutions are probably being broken. If getting life insurance was one of them, you might want to consider sticking to it – the longer you put it off, the more it could cost you down the road. “Even if the need isn’t immediate, buying life insurance now is […]

    LPL assures advisors other VA issuers won’t copy Ohio National

    {January 29th, 2019} by Tobias Salinger

    A major variable annuity issuer’s move to cut off trailing commissions for advisors in certain contracts won’t be repeated — as far as the nation’s largest independent broker-dealer is concerned. The 15 VA carriers who have selling agreements with LPL Financial have pledged to pay advisors their agreed-upon commissions, Rob Pettman, LPL’s executive vice president […]

    LPL reacts to Ohio National ‘violation of trust’ by renegotiating VA contracts

    {January 29th, 2019} by Greg Iacurci

    LPL Financial, the country’s largest independent broker-dealer, has renegotiated its contracts with all of its variable annuity partners in the wake of Ohio National Financial Services Inc.’s surprise announcement that it would no longer pay trail commissions to some advisers. Click HERE to read the full story via InvestmentNews. 

    Mark McVeigh SVP of Life Insurance Sales for Protective

    {January 29th, 2019} by Protective Life Corporation

    January 18, 2019 — BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective) is pleased to announce that Mark McVeigh has been appointed to the role of Senior Vice President of Life Insurance Sales. In his new role, he will be a member of Protective’s Life & Annuity leadership team and will be responsible for the company’s life insurance distribution, including […]

    Dai-Ichi to Acquire Great-West U.S. Individual Life and Annuity Lines

    {January 29th, 2019} by Allison Bell

    A Japanese life insurer is acquiring a Canadian life insurer’s U.S. individual life and annuity business. Protective Life Corp., a U.S.-based subsidiary of Dai-ichi Life Holdings Inc. of Tokyo, has agreed to acquire most of the U.S. individual life and annuity business of Great-West Lifeco Inc. through a reinsurance arrangement. The deal has a value of […]

    Annuity ‘Strategies’ Don’t Work

    {January 29th, 2019} by David Stone

    I recently read a serious takedown of variable annuities. The author began saying that variable annuities are the “most misunderstood investing strategies…”  I could hardly carry on. Annuities aren’t strategies. Conflating “strategy” with “solution” is an old semantic problem, and it probably isn’t an innocent mistake. The notion of “annuity” as ”strategy” isn’t new. Old-school “sales […]

    New York slaps MetLife with $19.75 million in penalties for heel-dragging

    {January 29th, 2019} by InvestmentNews

    MetLife Insurance Company will pay a $19.75 million penalty for violating New York insurance law by failing to properly locate and pay benefits to thousands of insureds and beneficiaries in the state. Click HERE to read the full story via InvestmentNews; registration required.

    AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries

    {January 29th, 2019} by A.M. Best

    Oldwick – AM Best has commented that the Credit Ratings of Great-West Lifeco, Inc. (Great-West) (Winnipeg, Manitoba) and its insurance subsidiaries remain unchanged following the announcement of a reinsurance agreement with subsidiaries of Protective Life Corporation (Protective). Based on the terms of the agreement, Great-West estimates that the transaction will result in an after-tax transaction value of […]

    Great American Life Introduces New Fixed Annuity Product to Respond to Current Market Volatility

    {January 29th, 2019} by Great American Insurance Group

    CINCINNATI — January 23, 2019 — Great American Life® is pleased to announce the availability of a new fixed annuity product. The American Freedom ClassicSM 3 is designed for consumers who are interested in greater liquidity and who want to grow their money without the worry of market volatility. The new product offers a fixed interest […]

    Pacific Life Introduces New No-Lapse Guarantee Universal Life Insurance Product for the Underinsured Broad Market

    {January 29th, 2019} by Pacific Life

    LYNCHBURG, VA – Jan. 23, 2019 Pacific Life today announced the addition of PL Promise GUL1, a new, no lapse guarantee universal life insurance (GUL) product to its PL Promise line.  Designed to help address the life insurance needs of the underinsured broad market, the new life insurance policy provides lifetime death benefit protection with predictable […]

    Maryland Insurance Administration settles federal suit charging it paid female investigators less than males

    {January 29th, 2019} by Meredith Cohn

    The Maryland Insurance Administration will pay $36,802 in back pay and damages to three female fraud investigators to settle a pay discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission, the federal agency reported Monday. The federal agency charged that the state insurance regulator had paid the women lower salaries than it paid to […]

    An Open Letter to Preston and Lynda Pitts

    {January 29th, 2019} by Sheryl J. Moore

    Preston and Lynda, As you know, I have been an expert in the indexed annuity market for 20 years now. One of the first habits I took up when I entered the field of product development was reading and analyzing specimen contracts on these products. In fact, I have read every specimen contract for every […]

    What If The Market Goes Up? Why An FIA Is Better Than Stocks

    {January 29th, 2019} by Sean A. Ruggiero

    What if the market rebounds in 2019? Let’s say that the S&P 500 rebounds and gains 10 percent back in 2019. Would that make stocks a better retirement income vehicle than a fixed indexed annuity for your clients? Let’s take a look. Click HERE to read the full story via INN: subscription required. 

    Partial Federal Government Shutdown Hampers Insurance Industry

    {January 24th, 2019} by Meg Green

    NEW YORK – The longest partial federal government shutdown in U.S. history is frustrating the insurance industry. Canceled meetings, hampered regulatory progress and the long-term economic impact of the shutdown, including the danger of civil servants shying away from future government employment, are among their concerns. “It’s obviously very distracting,” said David Sampson, president and […]

    New index option added to Nationwide Peak fixed indexed annuity

    {January 23rd, 2019} by Nationwide

    COLUMBUS, Ohio, Jan. 18, 2019 /PRNewswire/ — Nationwide announced today that it has added the Morgan Stanley 3D Index option to its fixed indexed annuity (FIA) Nationwide Peak® to provide an additional option for clients that could result in higher growth while maintaining principal protection. “Morgan Stanley’s unique index provides the opportunity for growth and when paired with […]

    Vantis Life’s DIY Online Life Insurance Sales Now Open to Consumers

    {January 23rd, 2019} by Vantis Life Insurance Company

    WINDSOR, Conn.–(BUSINESS WIRE)–Vantis Life Insurance Company, an industry-leading life insurance provider, has introduced its web- and mobile-based, DIY life insurance application process, Velocity, to mass-market consumers. All Velocity products feature the possibility of expedited underwriting, which can deliver a policy decision in as little as a few minutes and without the need for a medical exam. LIMRA International indicates […]

    5 Money Moves Retirees Should Make Before the End of the Year

    {January 23rd, 2019} by Selena Maranjian

    If you’re a retiree who likes to get important things done on time, you’re in luck! You have the entire year ahead of you to accomplish these five money moves. Here’s a look at a handful of critical tasks that should be on your to-do list. Even though many months lie ahead until 2019 is […]

    Paying for funerals impossible for many poor families

    {January 23rd, 2019} by COREY WILLIAMS, Associated Press

    Darlene Hardison would have loved to have a funeral for her father and uncle and bury them in marked graves at a Michigan cemetery. But she and her family could come up with only enough money to have Hoover Heags and Arthur Hardison cremated, then they left the remains to a Detroit funeral home to […]

    Maryland Seeks To Place Brokers, Agents Under A ‘Fiduciary’ Standard

    {January 23rd, 2019} by John Hilton

    A Maryland commission is recommending that a “fiduciary duty standard” be placed on broker-dealers and insurance agents doing business in the state. The Maryland Financial Consumer Protection Commission released its report last week, the second report in its two years of existence. The latest effort touches on several areas on consumer protection, including data breaches […]

    Opinion: There’s Always The Next Recession, So Be Prepared

    {January 23rd, 2019} by Liz Weston

    Recessions are like natural disasters: They’re inevitable, but smart preparation may reduce the impact on your clients. Here is some good advice for them. The U.S. economy has grown steadily since emerging from the “Great Recession” in June 2009, but expansions can’t continue forever, and this one is already the second-longest on record. Only the […]

    Royal Alliance charged with failure to supervise variable annuity sales

    {January 23rd, 2019} by InvestmentNews

    Massachusetts securities regulators have charged Royal Alliance Associates with failure to supervise a broker who recommended unsuitable investments to a couple, which ultimately cost the investors nearly $60,000. Click HERE to read the full story via InvestmentNews; registration required.

    Nippon Life president says actively exploring M&A in U.S.

    {January 22nd, 2019} by Taiga Uranaka and Taro Fuse

    TOKYO (Reuters) – Nippon Life Insurance Co is actively seeking mergers and acquisitions overseas, with a focus on the United States and Asia’s emerging economies, the president of Japan’s largest life insurer said on Monday. Japanese insurers have been among the most aggressive in overseas acquisitions. Yet, unlike smaller rivals, Nippon Life has not made […]

    Annuities, RIAs and ‘Cargo Cult’ Thinking

    {January 22nd, 2019} by Kerry Pechter

    Brighthouse Financial’s Shield structured annuity joins products from Allianz Life, Jackson National and Global Atlantic on the Envestnet Insurance Exchange, where annuity issuers hope to engage registered investment advisors. An interview with Envestnet president Bill Crager is included.  Click HERE to read the full story via RIJ; subscription required. 

    Fintech isn’t just for kids

    {January 22nd, 2019} by Ryan W. Neal

    Financial advice firms need to embrace digital technology to reach next-gen investors and attract young advisers, but that doesn’t mean fintech is just for kids. Click HERE to read the full story via InvestmentNews; registration required.

    Merrill Lynch Calls for Big Upside in Life Insurance Sector Leaders

    {January 22nd, 2019} by Jon C. Ogg

    It has been a while since there has been much great to say about the banking and financial sector leaders. That said, the woes of the big banks might not pertain to some of the key non-bank financials. According to BofA Merrill Lynch, life insurance stocks are now undervalued entering 2019 and are already discounting […]

    Fiserv makes monster $22B acquisition of First Data

    {January 22nd, 2019} by John Adams

    Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry’s largest technology and processing companies. Fiserv shareholders will own almost 58% of the combined company, with First Data’s shareholders holding the rest. The acquisition is expected to close in the […]

    Fear Factor: Worrying about Financial Wellness

    {January 22nd, 2019} by Tom Foster

    An earthquake or tornado destroys your neighborhood … terrorists attack your community… burglars or thugs invade your home … The news is full of scary events that cause us to worry and fear for our well-being. But while Middle-class Americans express varying degrees of concern about those situations, what worries them more is money, according […]

    AIG Named Official Insurance Partner Of The PGA of America

    {January 22nd, 2019} by PGA of America

    PALM BEACH GARDENS, Fla., Jan. 16, 2019 /PRNewswire/ — American International Group (AIG) has been named the Official Insurance Partner of the PGA of America, as well as some of the PGA’s most prestigious Championships. This includes the PGA Championship, KPMG Women’s PGA Championship and KitchenAid Senior PGA Championship. This new partnership strengthens the existing relationship between the […]

    6 Appointees Join New Wave of NAFA Leadership

    {January 22nd, 2019} by NAFA

    WASHINGTON (Jan. 16, 2019) — The general membership of NAFA, the National Association for Fixed Annuities, unanimously approved the slate of candidates presented for the 2019 board of directors at the association’s annual meeting held recently in Nashville, Tenn. Nominations were received from the membership at large, and candidates were vetted by the current board before […]

    Northwestern Mutual Named One of “Best Employers for Diversity” by Forbes Magazine

    {January 22nd, 2019} by Northwestern Mutual

    MILWAUKEE, Jan. 17, 2019 /PRNewswire/ — Northwestern Mutual, a leading financial security company, announced today it has been named one of the “Best Employers for Diversity” for 2019 by Forbes magazine. Northwestern Mutual placed #33 overall and #4 among insurance companies. “We’re honored to be recognized by Forbes for our efforts to build an inspiring, diverse and inclusive culture,” said John Schlifske, Northwestern […]

    Protective Life Corporation Names Mark McVeigh Senior Vice President of Life Insurance Sales

    {January 22nd, 2019} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective) is pleased to announce that Mark McVeigh has been appointed to the role of Senior Vice President of Life Insurance Sales. In his new role, he will be a member of Protective’s Life & Annuity leadership team and will be responsible for the company’s life insurance distribution, including brokerage, affinity, […]

    United States: Broker-Dealer Settles FINRA Charges For Failure To Supervise Sales Of Variable Annuities

    {January 22nd, 2019} by Cadwalader, Wickersham & Taft LLP

    A broker-dealer agreed to settle FINRA charges for failing to supervise sales of variable annuities. According to the Letter of Acceptance, Waiver and Consent, CFD Investments, Inc. (“CFD Investments”) failed to adequately supervise the sale of multi-share class variable annuities to address the suitability of different share classes in light of their different costs and surrender periods. […]

    NAIC Names 2019 Consumer Reps

    {January 22nd, 2019} by Allison Bell

    Six people who say they represent the interests of consumers have joined the Consumer Liaison Program team at the National Association of Insurance Commissioners (NAIC.) The NAIC has a total of 34 consumer representatives, including 20 who get financial help from the NAIC with participating in NAIC proceedings and 14 who pay their own way. The NAIC […]

    Guardian Life Finds Buyers for Headquarters Building

    {January 22nd, 2019} by Betsy Kim

    GFP Real Estate and Northwind Group have agreed to buy 7 Hanover from Guardian Life Insurance Company of America for $308.5 million. Guardian has had its headquarters in the 29-story building, which is in lower Manhattan, since 1999. The life, annuity and disability issuer plans to move its headquarters farther north, and to the west, to Hudson […]

    Prudential Affiliate Joins in $245 Million Building Purchase

    {January 22nd, 2019} by Betsy Kim

    PGIM Real Estate — an arm of Prudential Financial Inc. — has joined with SJP Properties to buy  an office and retail building in Manhattan for $245 million. The SJP-PGIM Real Estate joint venture purchased the building, 470 Park Ave. South, for $245 million from Norway’s sovereign wealth fund, Norges Bank Real Estate Management, and TH Real Estate. TH Real […]

    Where Did the Young Life Insurance Applicants Go?

    {January 22nd, 2019} by Allison Bell

    Young Americans’ life insurance application activity continued to cool in December, as older Americans’ application activity soared. Application activity for consumers of all ages was fairly strong, and roughly comparable, through September, according to application activity data from MIB Group Inc. Activity began to plummet for consumers ages 0 through 44 and climb for consumers ages 60 […]

    CFP Board Announces Action in VUL Case

    {January 22nd, 2019} by Allison Bell

    The CFP Board says it has revoked Certified Financial Planner (CFP) designation use rights in a case involving the suitability of recommendations for variable universal life (VUL) insurance. The Washington-based organization says it took CFP designation use rights from Andrew L. Schade of Lansing, Michigan. Click HERE to read the full story via ThinkAdvisor.

    ‘Giving Back’ Can Build Stronger Customer Ties

    {January 22nd, 2019} by Catherine Hernandez-Blades

    Say the words “corporate social responsibility,” or CSR, and what may come to mind are multinational corporations taking action on global issues like climate change or public health. While that is certainly part of what is happening under the larger CSR umbrella today, businesses of all sizes are increasingly embracing good corporate citizenship as part […]

    Morgan Stanley Gets Index Into Nationwide Annuity

    {January 22nd, 2019} by Allison Bell

    The life and annuities unit at Nationwide has added an investment index from Morgan Stanley to the index menu for its Nationwide Peak indexed annuity. The Columbus, Ohio-based company ill be offering contract holders the Morgan Stanley 3D Index option. The contract’s investment index menu already included the S&P 500, J.P. Morgan Mozaic II Index, […]

    What’s Behind the War on Variable Annuities?

    {January 22nd, 2019} by Jon Henschen

    After the market carnage of 2008-2009, a number of advisors shared stories with me about  clients who would literally kiss them in adoration, so grateful for the fact that their nest egg suffered no losses during this market turbulence because they were invested in variable annuities with living benefits. Clients like to make money. More […]

    5 IRS 199A Deduction Reg Questions, for Annuity Sellers

    {January 22nd, 2019} by Allison Bell

    The Internal Revenue Services has completed major new 199A tax-deduction regulations that could lead professionals who work with annuities to try to redefine themselves. Financial services groups could up spending years fighting over definitions in Washington because slight changes in what the IRS thinks certain terms mean could affect whether annuity sellers can, or can’t, get access […]

    Life Insurance Is NOT a Financial Service: New IRS 199A Tax Deduction Regs

    {January 22nd, 2019} by Allison Bell

    The Internal Revenue Service has released final regulations that should help life insurance agents get a big new federal income tax deduction — by classifying life insurance as not being a financial service. The IRS says it generally will exclude sales of commission-based insurance policies when deciding whether a business owner can qualify for a new “qualified […]

    Is There a Male Problem in the Financial Advisory Industry?

    {January 22nd, 2019} by Alex Padalka

    If women make better investors, wouldn’t they make better FAs? Blair duQuesnay suggests the financial advisory industry could use significantly more female advisors, but the question is how does the industry reshape itself? In an opinion piece for the New York Times entitled “Consider Firing Your Male Broker,” duQuesnay writes that the industry has a long way to […]

    Carson Group Adds Retirement Planning Expert, Jamie Hopkins, to Lead Retirement Research and Investor and Advisor Retirement Education

    {January 22nd, 2019} by Carson Group

    OMAHA, Neb., Jan. 11, 2019 /PRNewswire/ — Carson Group, a family of companies committed to being the most trusted for financial advice and guidance via service to both advisors and investors, announced it has hired retirement planning expert Jamie Hopkins as the Vice President of Private Client Services and Director of Retirement Research. Carson Group added Mr. Hopkins to further develop […]

    Bermuda Raising Profile of Life & Annuity Insurance Sector

    {January 22nd, 2019} by The Bermuda Business Development Agency

    HAMILTON, Bermuda, Jan. 21, 2019 (GLOBE NEWSWIRE) — The Bermuda Business Development Agency (BDA) is partnering with the island’s fast-growing life and annuity re/insurance sector to promote a strong presence at the industry’s largest US conference this spring. For the first time, the BDA will team with Bermuda International Long Term Insurers & Reinsurers (BILTIR) […]

    Opinion: Never mind the Social Security increase, seniors are in trouble — here’s why

    {January 21st, 2019} by Paul Brandus

    You might have heard that Social Security checks are going up 2.8% next year, the biggest rise in seven years. That translates into an average benefit of $1,461 a month, up $39. While welcome, it’s necessary to remember that the increase is tied to inflation. Higher payouts will simply enable retirees to keep up with the […]

    CFP Board gets first report card on diversity efforts

    {January 21st, 2019} by Amanda Schiavo

    After renewed efforts to improve diversity, is the CFP Board seeing signs of early success? The board reported the number of people of color and women holding its designation increased to 2,916 and 19,248, jumps of 8% and 3.6% from the prior year. Overall, the board said the total number of CFPs is now an […]

    MassMutual seeks buyer for 66-acre Enfield campus

    {January 20th, 2019} by Stephen Singer

    MassMutual, which announced last year its departure from Enfield to Massachusetts, is selling its 435,000 square feet of office space on 66 acres. Its agent has not disclosed the sales price, but the assessed value is $34.6 million, according to the Enfield assessor. The property tax bill is about $1.3 million. Click HERE to read […]

    Rep. Wilson Introduces Bill On Reduction Of Survivor Annuities

    {January 18th, 2019} by Targeted News Service (Press Releases)

    WASHINGTON, Jan. 17 — Rep. Joe Wilson, R-S.C., has introduced legislation (H.R. 553) to amend title 10, U.S. Code, “to repeal the requirement for reduction of survivor annuities under the Survivor Benefit Plan for military surviving spouses to offset the receipt of veterans dependency and indemnity compensation.” The bill was introduced on Jan. 15 and […]

    Jackson Chooses RetireUp to Power New Advisor Tool that Demonstrates the Value of an Annuity as Part of a Retirement Portfolio

    {January 16th, 2019} by RetireUp

    CHICAGO, Jan. 15, 2019 /PRNewswire/ — Retirement income planning software provider RetireUp announced today that its technology has been selected to power a new advisor tool from Jackson National Life Insurance Company® (Jackson®). The custom-built Purpose Meets Planning tool will enable financial professionals to quickly and easily assess the benefit of adding an annuity to a client’s retirement plan. Increased longevity and rising […]

    Ladenburg Thalmann Launches Advanced Planning Group And Expanded Rollout Of Link To The Future Program At Second Annual Elevate Advisory Symposium

    {January 16th, 2019} by Ladenburg Thalmann Financial Services Inc.

    MIAMI, Jan. 15, 2019 /PRNewswire/ — Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK) (“Ladenburg”), a publicly-traded diversified financial services company, today announced the successful conclusion of its second annual ELEVATE Advisory Symposium, designed to support the business growth of fee-based financial advisors across the company’s five independent advisory and brokerage (IAB) subsidiaries, encompassing […]

    Carriers have seen a shift in market focus from universal to whole life products, according to Eastbridge’s latest report

    {January 16th, 2019} by Eastbridge Consulting, Inc.

    AVON, Conn., Jan. 15, 2019 (GLOBE NEWSWIRE) — Primarily driven by interest rate uncertainty, carriers have seen a shift in market focus over the past few years, from universal life to whole life products, and expect this trend to continue. Year over year sales data from 2016 to 2017 supports this finding with primarily increases […]

    Nationwide offers new suite of Indexed Universal Life products

    {January 16th, 2019} by Nationwide

    COLUMBUS, Ohio, Jan. 9, 2019 /PRNewswire/ — Nationwide is now offering the Nationwide® Indexed Universal Life (IUL) suite, adding two new IUL products to its portfolio of financial solutions to help advisors meet the specific needs of their clients in a transparent way.  For both products, clients can choose from among seven indexed interest strategies and a fixed account […]

    5 Things Actuaries Are Saying About Death Now

    {January 16th, 2019} by Allison Bell

    Figures from the U.S. Centers for Disease Control and Prevention show that overall U.S. life expectancy seems to have peaked. Average U.S. life expectancy at birth fell to 78.6 years in 2017, from 78.7 years the year before, and down from an all-time high of 78.9 years two years earlier. Life insurers use their own […]

    iPipeline Reports $31 Billion in Annuity Transactions Processing for 2018

    {January 16th, 2019} by iPipeline

    EXTON, PA (January 15, 2019) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced a record increase in the number of annuity transactions processed using their AFFIRM for Annuities product in 2018.  AFFIRM® for Annuities is used by the nation’s largest financial institutions and […]

    Anatomy of an annuity buyout offer

    {January 16th, 2019} by Mary Beth Franklin

    Readers are invited to comment on whether the columnist should keep or ditch her Ohio National VA contract I may be going out on a limb, but after receiving numerous negative comments about my decision to purchase a deferred variable annuity from Ohio National Insurance Co. a decade ago, I am laying out the specifics […]

    Why the Ohio National Annuity Legal Debacle May Resolve Faster Than You Think

    {January 16th, 2019} by Miriam Rozen

    If a prediction made by Next Financial’s outside lawyer proves accurate, the rash of lawsuits filed against Ohio National Financial will be resolved quickly. Since November 1, 2018, broker-dealers and advisors, including Next Financial, have filed at least nine lawsuits against the insurer, alleging Ohio National violated its contractual obligations with its unexpected decision to stop paying trailing commissions on […]

    DOL Rollover Guidance Expected After SEC Releases Reg BI

    {January 16th, 2019} by Melanie Waddell

    The Labor Department will propose in the summer or fall of this year — after the Securities and Exchange Commission finalizes its Regulation Best Interest for brokers — guidance on when a rollover recommendation constitutes fiduciary advice, as well as an exemption for compliance with Reg BI, attorneys at Stradley Ronon predict. The attorneys, part […]

    Life and Annuity Issuers Prep for Q4 Earnings

    {January 16th, 2019} by Allison Bell

    Wall Street investors were already shunning life and annuity issuers in 2018, and that underlying current of negativity could help issuers muddle through the upcoming earnings season reasonably well. Securities analysts at three firms — Keefe, Bruyette & Woods; Morgan Stanley; and Wells Fargo — talk about the possible effects of new stock market volatility, and pre-existing investor […]

    Ohio National Lawsuit Re-Filed; Attorney Says More Coming

    {January 16th, 2019} by John Hilton

    Attorneys for LPL Financial broker Lance Browning refiled a lawsuit Friday seeking damages from Ohio National’s surprise decision to cut trail commissions on certain variable annuities. The amended lawsuit is part of a strategy to refocus away from the class-action request to individual lawsuits, explained Dennis J. Concilla of Carlile, Patchen & Murphy, a Columbus, […]

    Ameriprise Financial Launches New Ads Showcasing the Brilliant Experience It Delivers to Clients

    {January 16th, 2019} by Ameriprise Financial Services, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial (NYSE: AMP) is ushering in 2019 with new advertisements that bring to life the personalized experience the firm and its approximately 10,000 financial advisors deliver to clients. The latest round of ads introduces the next chapter of the firm’s successful Be Brilliant® brand platform, which has evolved to appeal to the needs of […]

    Employees sue Transamerica, claim poor management cost them millions in retirement accounts

    {January 16th, 2019} by Stephen Gruber-Miller

    Employees of a Cedar Rapids investment company are suing their employer for allegedly costing them millions of dollars in poorly performing retirement accounts. Three employees of Transamerica allege in a class action lawsuit filed in federal court in Iowa on Dec. 28 that poor performance of their employers’ funds cost them and thousands of other current and former employees between […]

    Why women make better advisers than men

    {January 15th, 2019} by InvestmentNews

    Recruiting and encouraging women advisers is the route to better returns for clients and a more favorable image for the advice business. Click HERE to read the full story via InvestmentNews; registration required. 

    Conning – U.S. Life-Annuity Industry Reorganizes to Create Value

    {January 15th, 2019} by Conning

    (Hartford, CT) January 7, 2019—The U.S. Life-Annuity industry has been redefining itself to respond to pressures and build value, according to a new study by Conning.   “Life and annuity insurers have enjoyed almost a decade of positive statutory income following the recession of 2008,” said Terence Martin, a Director, Insurance Research at Conning. “Over […]

    Securian Financial introduces new multi-year guaranteed annuity

    {January 15th, 2019} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial has launched SecureOption® Choice, a new fixed deferred annuity designed to give financial professionals a competitive edge in the multi-year guaranteed annuity (MYGA) marketplace. SecureOption® Choice, issued by Minnesota Life Insurance Company, has product features designed to help clients plan for their financial future. It offers guaranteed interest throughout the […]

    Nationwide and Penn Mutual Launch Permanent Life Products

    {January 15th, 2019} by Allison Bell

    Two mutual insurers have updated their permanent life insurance lines. The life operation at Nationwide has started a Nationwide Indexed Universal Life (IUL) family of products. Penn Mutual Life Insurance company has introduced the Versatile Choice Whole Life policy. The new Nationwide IUL product family includes two products: the Nationwide Indexed Universal Life Accumulator II policy, […]

    Investor Group Led by Elliott Management Completes the Acquisition of Prosperity Life Insurance Group

    {January 15th, 2019} by Prosperity Life Insurance Group

    NEW YORK, Jan. 4, 2019 /PRNewswire/ — Investment partnership funded by affiliated entities of Elliott Management Corporation (collectively, “Elliott”); operating principals of Wand Partners, Inc. (“Wand”), an insurance-focused private investment firm; and Anurag Chandra, current CEO of Prosperity today announced that they have completed the previously announced acquisition of Prosperity Life Insurance Group, LLC (“Prosperity” or the “Company”). Prosperity, […]

    New York Regulator Approves Proposed Oceanwide Acquisition of Genworth’s New York-Domiciled Insurance Company

    {January 15th, 2019} by Genworth Financial, Inc.

    RICHMOND, Va., Jan. 14, 2019 /PRNewswire/ — Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today announced that the New York State Department of Financial Services (NY DFS) has approved the proposed acquisition of control of New York-domiciled Genworth Life Insurance Company of New York by entities affiliated with Oceanwide in connection with the merger of Oceanwide and […]

    Brighthouse Financial Joins Envestnet Insurance Exchange

    {January 15th, 2019} by Brighthouse Financial

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial® (Nasdaq: BHF) today announced that it will be among the first companies to offer annuities through the Envestnet Insurance Exchange (iX), a program that integrates insurance solutions into the wealth management process on the Envestnet platform. The collaboration with Envestnet reflects the company’s push to provide a simpler advisor experience at every […]

    NAIC To Reopen IUL Illustrations Guideline

    {January 15th, 2019} by John Hilton

    The National Association of Insurance Commissioners’ effort to create Actuarial Guideline 49 was a lengthy process aimed at getting indexed universal life illustrations under control. Now, a shade more than three years since AG 49 took effect, it seems the NAIC is ready to tackle it again. An IUL illustration subgroup has a 2019 charge […]

    Simplicity Life Welcomes New Executive Vice President Of Sales

    {January 15th, 2019} by Simplicity Group Holdings

    16-year Allianz alum, Nathan Jacobson, joins the Simplicity Life family. Monticello, MN – Nathan Jacobson is a seasoned veteran of the Indexed Universal Life (IUL) revolution, setting the standard for IUL agent training and mastering the demystification of IUL. He has played a key role in changing the competitive landscape of IUL, as marketing organizations […]

    Securian Adds MYGA Contract

    {January 15th, 2019} by Allison Bell

    Securian Financial Group Inc. has introduced a new deferred multi-year guarantee annuity (MYGA) contract. The St. Paul, Minnesota-based company will write the new SecureOption Choice annuities through its Minnesota Life Insurance Company unit. Click HERE to read the full story via ThinkAdvisor.   ………………………………………………………………………………..     Figures from Wink Inc. showed that sales of MYGA […]

    Government Shutdown Is Making FAs’ Lives Difficult

    {January 14th, 2019} by Alex Padalka

    The U.S. government shutdown, now in partial effect for almost a month, is causing a serious disturbance in some parts of the financial advice industry, according to news reports. For one, the SEC has not been processing new or pending investment advisor registrations, InvestmentNews writes, citing the regulator’s shutdown operations plan. The SEC typically has 45 days […]

    Ironic twist in the Ohio National annuity saga

    {January 14th, 2019} by Greg Iacurci

    The months-long feud between Ohio National and financial advisers has taken a strange and ironic twist. Click HERE to read the full story via InvestmentNews; registration required. 

    Northwestern Mutual Announces Executive Leadership Changes

    {January 14th, 2019} by Northwestern Mutual

    MILWAUKEE, Jan. 9, 2019 /PRNewswire/ — Northwestern Mutual has announced executive leadership appointments to advance its commitment to innovation and transformation. Alexa von Tobel, chief innovation officer, has announced she will leave the company to launch a new venture in the innovation and start-up space, an area of her personal passion. This opportunity will enable von Tobel, best-selling […]

    Transamerica Wins DALBAR Annuity Service Award, Recognized for Best-in-Class Customer Service

    {January 14th, 2019} by Transamerica

    BALTIMORE, Jan. 10, 2019 /PRNewswire/ — Transamerica announced today that it received the 2018 DALBAR Annuity Service Award, and is recognized as a leading provider that consistently delivers best-in-class telephone service experience for contract holders. The Annuity Service Award is earned through an objective and rigorous third-party evaluation of the quality of contact center interactions with contract holders. […]

    Former Standard CEO Dies at 70

    {January 14th, 2019} by Allison Bell

    Eric Edmond Parsons, 70, a former chairman and chief executive officer of Standard Insurance Company of Portland, Ore., died Wednesday, according to Standard. Parsons began working for the Standard in 1968. He later became the chief financial officer. He succeeded Ron Timpe as the chief executive officer of the holding company StanCorp Financial Group Inc., […]

    3 Female Agency Leaders on Opportunities in Insurance

    {January 14th, 2019} by Mary Newgard

    I was so intrigued by McKinsey & Company’s “Women in the Workplace 2018” study that I decided to flip the script for my first column of 2019. From a simple question, “What are opportunities for women in the insurance industry?” came fascinating answers from three female agency leaders. They are at the forefront of addressing […]

    Penn Mutual Offers Versatile Choice Whole Life

    {January 14th, 2019} by Penn Mutual

    HORSHAM, PA. – January 7, 2019 – Penn Mutual, a Fortune 1,000 Company, introduces its latest permanent life insurance product, Versatile Choice Whole Life. With its guaranteed death benefit protection to age 121 and guaranteed long-term cash value accumulation, Versatile Choice Whole Life can be an excellent fit for those seeking strong protection and accumulation guarantees. […]

    Tom Burns, Chief Distribution Officer to Retire from Allianz Life; Eric Thomes Named as Successor

    {January 14th, 2019} by Allianz Life Insurance Company of North America

    January 09, 2019 Burns’ Legacy Includes Helping Position Company as a Leader in the FIA Market MINNEAPOLIS – Jan. 9, 2019 – Allianz Life Insurance Company of North America (Allianz Life®) has announced that Tom Burns, chief distribution officer, will retire from the company, effective on April 15, 2019. Succeeding Burns is Eric Thomes, currently head […]

    Life Insurers Could Help Clients Decode Their Tumors: Idea File

    {January 14th, 2019} by Allison Bell

    Wamberg Genomic Advisors is trying to create a new revenue stream for DNA testing labs, insurers and brokers — and easier access to testing services that could help some people who have tumors beat their tumors. The La Jolla, California-based company has an idea: sell insurance that can pay for tumor DNA profiling services, and related services, if […]

    Twists and turns await anxious advisers as roller-coaster ride continues into 2019

    {January 14th, 2019} by Jeff Benjamin

    The roller-coaster ride of 2018 has financial advisers bracing for uncertainty in the year ahead. Whether talking about the economy, the financial markets, Fed policy or asset allocation, the financial advisory space appears to be hunkering down for a year full of caution and some new potential challenges. Click HERE to read the full story […]

    The Truth About Annuities and Retirement

    {January 14th, 2019} by Robert Powell

    We know what you’re thinking. Annuities! Run away! But that would be a mistake. Annuities are just an investment product — like many others, and much like Social Security and defined benefit pension plans. Annuities get a bad rap because people tend to lump all annuities — single premium income annuities (SPIA), variable annuities, fixed […]

    Insurance companies should consider wording carefully

    {January 14th, 2019} by Michael McKiernan

    Insurance companies may want to rethink the wording of their consumer-facing policies after the Court of Appeal for Ontario restored a class action by life insurance policy holders against their insurers, according to a Toronto lawyer. In Fehr v. Sun Life Assurance Company of Canada, a three-judge panel of the province’s top court certified the $2.5-billion […]

    Distributor Acquires Senior Market IMO

    {January 14th, 2019} by Allison Bell

    Integrity Marketing Group L.L.C. today announced that it has acquired Eldercare Insurance Services Inc. for a price that was not disclosed. Integrity Marketing is a privately held, Dallas-based distributor of life and health products aimed at older consumers. The company was founded in 2006. It now has relationships with 100,000 independent agents located throughout the United States. Eldercare […]

    Ebix Provides Business Update and Reviews International Expansion Plans

    {January 14th, 2019} by Ebix, Inc.

    JOHNS CREEK, Ga., Jan. 11, 2019 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, provided a business update today and announced plans to grow in international markets in the converged areas of insurance and finance, in 2019 and […]

    Finra Slams Indiana Independent Firm Over Variable Annuity Practices

    {January 14th, 2019} by AdvisorHub Staff

    An Indiana broker-dealer that promotes its commitment to “serving advisers in a Christ-like manner” has agreed to a censure and fine of $125,000 for failing to oversee the suitability of variable annuities sales, which comprise more than 40% of its total revenue. Kokomo-based CFD Investments, which works with more than 190 independent brokers in about […]

    Finra fines CFD Investments $125,000 over variable annuities supervision

    {January 14th, 2019} by InvestmentNews

    The Financial Industry Regulatory Authority Inc. has censured CFD Investments of Kokomo, Ind., and fined it $125,000 for failure to establish and enforce adequate supervisory procedures in connection with the sale of variable annuities by its registered representatives. Click HERE to read the full story via InvestmentNews; registration required. 

    Key 2019 Annuity Trends: Mergers, Simplification, Amazon-ification

    {January 14th, 2019} by Kent Sluyter

    The previous year had more than its share of big news for the annuities industry. Ambiguity around the Department of Labor’s fiduciary rule led to a bit of a muted start to the year. Despite the rule’s eventual pullback, the industry forged ahead with procedures and policies designed to help increase clarity and simplicity, and […]

    SEC shutdown opens the door for fraud

    {January 14th, 2019} by Bruce Kelly

    Investment fraud is on the rise,  and the Securities and Exchange Commission, which is supposed to be Wall Street’s cop on the beat, is closed for business. Click HERE to read the full story via InvestmentNews; registration required. 

    Blackstone Makes Strategic Investment In Annexus

    {January 10th, 2019} by Annexus

    SCOTTSDALE, Ariz., Jan. 8, 2019 /PRNewswire/ — Annexus, a leading designer of annuities and insurance-based retirement products, and Blackstone, one of the world’s leading investment firms, announced that funds advised by Blackstone Tactical Opportunities (“Blackstone”) have made a strategic investment in Annexus, acquiring a minority stake in the company. Menes Chee, a Blackstone Senior Managing Director, said: “We are […]

    Simplicity Group Holdings Acquires Davis Life & Annuity and Partners with Jon and Trent Davis

    {January 10th, 2019} by Simplicity Group Holdings

    NEW YORK, Jan. 9, 2019 /PRNewswire/ — Simplicity Group Holdings (Simplicity) is pleased to announce that it has acquired Davis Life & Annuity, one of the longest-standing and most successful independent insurance distribution companies in the country, and that it welcomes Jon and Trent Davis as its newest Principals.  Davis Life & Annuity will begin its brand transition to Simplicity […]

    Wisconsin’s Next Governor Picks Insurance Commissioner, Other Cabinet Members

    {January 8th, 2019} by Scott Bauer

    Wisconsin Governor-Elect Tony Evers has named Mark Afable as insurance commissioner. Afable has worked for American Family Insurance in Madison since 1994 and currently serves as its chief legal officer. He will replace current Commissioner of Insurance Ted Nickel, who has served as the state’s top insurance regulator since 2011. Evers on Dec. 21 also […]

    Big Changes Ahead

    {January 8th, 2019} by Ben Mattlin

    In the annuities world, where the talk can be inscrutably complex, the buzz on new products and trends for 2019 seems dominated by a single word: simplicity. Kent Sluyter, president of Prudential Annuities in Newark, N.J., anticipates “a continued demand for transparency and simplicity.” Craig Hawley, head of Nationwide Advisory Solutions (formerly Jefferson National), says, […]

    Just 16 Percent Of Retirees Feel ‘Strongly’ About Nest Eggs

    {January 8th, 2019} by Transamerica Center for Retirement Studies

    LOS ANGELES, Dec. 18, 2018 /PRNewswire/ — Fewer than half of retirees (46 percent) agree that they have built a large enough retirement nest egg, with only 16 percent “strongly” agreeing and 30 percent “somewhat” agreeing, according to a new survey by nonprofit Transamerica Center for Retirement Studies (TCRS).  “Retirees’ circumstances regarding when and how they retired exemplify common risks: […]

    Michel Khalaf to Lead MetLife

    {January 8th, 2019} by Allison Bell

    The board of MetLife Inc. today announced that Michel Khalaf will take over from Steven Kandarian as the company’s president and chief executive officer May 1. Khalaf has been the president of MetLife’s U.S. business since July 2017. Glenn Hubbard, MetLife’s independent lead director and a former chairman of the federal Council of Economic Advisors, will […]

    Life Insurers Could Help Clients Decode Their Tumors: Idea File

    {January 8th, 2019} by Allison Bell

    Wamberg Genomic Advisors is trying to create a new revenue stream for DNA testing labs, insurers and brokers — and easier access to testing services that could help some people who have tumors beat their tumors. The La Jolla, California-based company has an idea: sell insurance that can pay for tumor DNA profiling services, and related services, if […]

    Life Insurance Underwriting Picks Up Speed

    {January 8th, 2019} by John Hilton

    The marriage between technology and faster underwriting is a union the life insurance industry has encouraged for many years. Progress has been slow, but MIB Group is making headway, recently signing an agreement with Epic to utilize its electronic health records system. Under the agreement, MIB’s 400 U.S. life insurance members will be able to access […]

    Government shutdown crimps SEC exams

    {January 8th, 2019} by Mark Schoeff Jr.

    If you’re an investment adviser hoping to avoid a Securities and Exchange Commission exam, the partial government shutdown now in its second week is working in your favor. Click HERE to read the full story via InvestmentNews; registration required.

    Expect Big Changes to Retirement, Fiduciary Rules in 2019

    {January 8th, 2019} by Melanie Waddell

    Retirement and tax-related changes as well as fiduciary-related standards from the Securities and Exchange Commission and the Labor Department are expected to top advisors’ and broker-dealers’ regulatory to-do lists in 2019. While the House passed late on Dec. 20 a retirement and tax package, priming 2019 for much debate — and potentially big changes — for […]

    Lincoln closes on reinsurance agreement

    {January 8th, 2019} by Doug LeDuc

    Lincoln National Corp. plans to repurchase up to $500 million of its shares with proceeds from an agreement it completed last month with an Athene Holding Ltd. subsidiary to reinsure about $7.7 billion of in-force fixed and fixed indexed annuity products. Capital generated from the transaction included a ceding commission paid by Athene combined with the release of […]

    Another LPL Rep Sues Ohio National Over Annuity Contracts

    {January 8th, 2019} by Diana Britton

    Jackson, Miss.-based LPL Financial broker Chris Noone is the latest to file a lawsuit against Ohio National Life Insurance Company and its affiliates for cutting trail commissions on annuity contracts with guaranteed minimum income benefit riders. In September, Ohio National notified broker/dealers that it was terminating selling agreements as of Dec. 12 and ceasing payments of trail […]

    NAILBA Introduces 2019 Leadership

    {January 8th, 2019} by NAILBA

    FAIRFAX, VA – The National Association of Independent Life Brokerage Agencies, better known across the insurance industry as NAILBA, today introduced its 2019 executive leadership and Board of Directors for both the Association and the NAILBA Charitable Foundation. Myra Palmer, President of the Palmer Agency, officially begins her one-year term as Chairman of the industry trade association representing over […]

    Annuity Issuer Makes Changes

    {January 8th, 2019} by Allison Bell

    FGL Holdings — the parent of Fidelity & Guaranty Life — has replaced its chief executive officer and is organizing a major effort to cut costs. Blackstone, the investment company that controls FGL, is still expressing optimism about the Des Moines, Iowa-based life insurance and annuity issuer’s future. Bennett Goodman, chairman of the Blackstone Insurance Solutions unit, said […]

    2019 Board of Directors – SAFE (Society for Annuity Facts & Education)

    {January 8th, 2019} by The Society for Annuity Facts and Education

    DES MOINES, IOWA (PRWEB) JANUARY 07, 2019 The Society for Annuity Facts and Education (SAFE) announced today that it has appointed Harry N. Stout, Managing Director of NelsonWells, LLC, and Kevin Hart, EVP of Distribution & Marketing at Oceanview Holdings to its Board of Directors for 2019. “We are pleased to welcome Harry and Kevin as […]

    It’s about to get easier to do a 1035 exchange with annuities

    {January 8th, 2019} by Greg Iacurci

    Insurance companies aren’t exactly known as pioneering when it comes to digital technology — most are entrenched in paper-dominated transactions with consumers and their financial advisers. Click HERE to read the full story via InvestmentNews; registration required.     ……………………………………………………………………………………………………………………………… “Maybe more bad actors would get missed,” Ms. Moore said.   Sheryl Moore, president and […]

    What Suze Orman Really Thinks of Financial Advisors

    {January 8th, 2019} by Jane Wollman Rusoff

    If you could peek at Suze Orman’s personal portfolio, here’s some of what you’d see: Big positions embracing about a dozen cannabis companies. “I believe that in the future, this will be a tremendous investment,” the personal finance expert tells ThinkAdvisor in an interview, in which she reveals more about her investments and serves up […]

    Ohio National Adds Whole Life Product

    {January 8th, 2019} by Allison Bell

    Ohio National Financial Services is trying to regain its footing by adding a 20-pay whole life policy, the Prestige 20-pay policy. The Cincinnati-based company said earlier this week that it has also updated the Prestige 10-Pay II and Prestige Max III policies. All three policies give the purchaser the ability to get a paid-up policy by […]

    Participants Averse to Annuities May Like Deferred Income Products

    {January 8th, 2019} by John Manganaro

    The latest Issue Brief publication from the Employee Benefits Research Institute (EBRI) shows only a very small percentage of defined contribution (DC) and individual retirement account (IRA) balances are annuitized in a given year.   What’s perhaps more surprising is that a significant percentage of defined benefit (DB) plan accruals have been taken as lump-sum […]

    Horace Mann Completes BCG Acquisition

    {January 8th, 2019} by Allison Bell

    Horace Mann Educators Corp. has completed a previously announced acquisition of Benefit Consultants Group (BCG), a retirement plan provider. Horace Mann — a Springfield, Illinois-based company that sells life insurance, group annuities and other products to teachers and other school employees — said BCG will stay in its offices in Cherry Hill, New Jersey, with the […]

    How An Annuity Improves A Retirement Plan

    {January 8th, 2019} by Jack Guttentag

    “Your article on annuities [Does An Annuity Belong In Your Retirement Plan?] did not demonstrate that an annuity always improves a retirement plan.” True, Warren Buffet’s retirement plan would not be improved by an annuity because he will not face the mortality and investment risks of a retiree with limited resources. Retirees with limited resources […]

    Western & Southern Completes Purchase of Gerber Life

    {January 8th, 2019} by Western & Southern Financial Group

    Western & Southern Financial Group announced the completion of its purchase of Gerber Life Insurance Company, a wholly owned indirect subsidiary of Nestlé S.A., on Dec. 31, 2018. The purchase includes a long-term license to use certain Gerber Life intellectual property, including the Gerber Life name and logo, in connection with certain financial services. The deal brings […]

    Vantis Life Looks to End the Cycle of Underinsured Families with New Digital Platform

    {January 8th, 2019} by Vantis Life Insurance Company

    WINDSOR, Conn.–(BUSINESS WIRE)–Vantis Life Insurance Company says it’s time for the trend of declining life insurance ownership among mass-market customers to end. That’s why the life insurance provider for mid-market and emerging affluent consumers has introduced Velocity, an upgraded online life insurance platform that makes getting coverage faster and more efficient. Velocity will shake up the industry by offering […]

    NAFA Announces Charles J. “Chuck” DiVencenzo as New President & CEO

    {January 8th, 2019} by NAFA

    WASHINGTON (Jan. 8, 2019) — NAFA, the National Association for Fixed Annuities, is pleased to announce that, after a comprehensive nationwide search, Charles J. “Chuck” DiVencenzo will assume the role of President & CEO effective April 1. DiVencenzo will oversee the daily operations of NAFA while working to actively execute the Board of Directors’ strategic […]

    Elliott Management-led investor group buys Prosperity Life Insurance

    {January 8th, 2019} by Compelo Staff Writer

    An investor group led by Elliott Management has completed the acquisition of US insurance company Prosperity Life Insurance Group for an undisclosed price. Prosperity Life Insurance offers protection, supplemental and asset accumulation products to individuals and their families. The products are distributed via banks, independent marketing organizations, and worksite and affinity channels. Its protection products […]

    Tom Dempsey Named President of World Financial Group

    {January 8th, 2019} by World Financial Group

    Dec 19, 2018 — BALTIMORE, Dec. 19, 2018 /PRNewswire/ — World Financial Group announced today that Tom Dempsey has been appointed as president of World Financial Group. Dempsey is a proven distribution leader, most recently serving as managing director for wholesale distribution within Transamerica’s individual and workplace markets. With nearly two decades experience in global financial services, Dempsey […]

    Conning–U.S. Life-Annuity Industry Reorganizes to Create Value

    {January 8th, 2019} by Conning

    HARTFORD, Conn., Jan. 7, 2019 /PRNewswire/ — The U.S. Life-Annuity industry has been redefining itself to respond to pressures and build value, according to a new study by Conning. “Life and annuity insurers have enjoyed almost a decade of positive statutory income following the recession of 2008,” said Terence Martin, a Director, Insurance Research at Conning. “Over that […]

    Why Are So Many Universal Life Insurance Policies Failing?

    {January 8th, 2019} by Jordan Smith, JD, LLM

    Commentary Traditional, nonguaranteed universal life insurance (often described in the insurance industry as current assumption UL) has been subjected to rather brutal criticism over the past few years. It most recently came into the news in a September Wall Street Journal article that blamed the product for the financial hardship being experienced late in life […]

    ‘Re-Regulation’ Could Dampen Annuity Sales: Credit Suisse

    {January 8th, 2019} by Elizabeth Festa

    While deregulation boosted annuity sales in 2018 and may lift long-term defined contribution sales, “re-regulation” of annuities via the Securities and Exchange Commission advice rules along with state fiduciary rules and an anticipated National Association of Insurance Commissioners’ annuity sales suitability framework could dampen VA sales, Credit Suisse analysts predict. Despite some regulatory pressure and […]

    Ohio National rounds out whole life portfolio with new Prestige 20-pay

    {January 8th, 2019} by Ohio National Financial Services

    CINCINNATI, Jan. 02, 2019 (GLOBE NEWSWIRE) — Ohio National Financial Services is pleased to introduce its new Prestige 20-pay, the company’s fifth whole life insurance product, adding depth to its portfolio.* Design enhancements have also been made to its two other limited-pay whole life products, Prestige 10-Pay II and Prestige Max III. All three products are […]

    State delays vote on incentive package for Sammons Financial Group’s new West Des Moines headquarters

    {January 1st, 2019} by Kim Norvell

    The Iowa Economic Development Authority board has delayed a vote on state economic development incentives for Sammons Financial Group, which plans to bring 200 new jobs to West Des Moines with a new corporate headquarters.  The board voted Friday to defer Sammons Financial Group’s application so the state agency can evaluate the project’s eligibility for approximately $3.8 […]

    Single retiree market presents major opportunity for advisors

    {January 1st, 2019} by Insurance Forums Staff

    The media often depicts retirement as a couple walking down a beach holding hands or sitting on a white beach chair watching wave’s crash down on the shore. For many American retirees, that is simply not a reality. New LIMRA Secure Retirement (LIMRA SRI) data give insight into an often overlooked market: single pre-retirees and […]

    Federal legislation allowing seniors to use life insurance proceeds for long-term care costs tax-free introduced in Congress

    {January 1st, 2019} by Insurance Forums Staff

    H.R. 7203, introduced by U.S. Rep. Kenny Marchant (R-TX) and U.S. Rep. Brian Higgins (D-NY) would permit seniors, regardless of their health status, to use life insurance policies they already own to fund a wide range of health care costs, including long-term care expenses and long-term care insurance premiums. By keeping seniors off Medicaid for […]

    At Wells Fargo Advisors, Female FAs are Punished More Severely Than Men, Study Shows

    {January 1st, 2019} by Miriam Rozen

    A recent study shows women advisors experience higher rates of job separation for misconduct violations than their male counterparts at financial advisory firms. The study indicates that this so-called gender punishment gap is most severe at Wells Fargo Advisors, and the news has not been welcome for the wirehouse. “We believe there are substantial issues […]

    Federal Life completes conversion to stock company

    {January 1st, 2019} by Federal Life Mutual Holding Company

    RIVERWOODS, Ill., Dec. 11, 2018 (GLOBE NEWSWIRE) — Federal Life Mutual Holding Company (“FLMHC”) has completed its conversion from a mutual to stock form of organization and has also completed the formation of a stock holding company Federal Life Group, Inc. (“FLG”).  Federal Life Insurance Company (“FLIC”), which conducts the primary business of the consolidated […]