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  • Apollo Global, Athene Get Temporary Halt to Shareholder Lawsuit

    {July 19th, 2019} by Timothy Darragh

    NEW YORK CITY – A Bermuda court has ordered a temporary halt to a shareholder lawsuit filed last month accusing private equity firm Apollo Global Management of looting its affiliated insurance firm, Athene Holding Ltd., with “extravagantly expensive” management fees. Bermuda Supreme Court Chief Justice Narinder Hargun signed the temporary injunction, which purports to halt […]

    FINRA Hits Woodbury With Fine Over Annuity-Related Failures

    {July 19th, 2019} by Jeff Berman

    The Financial Industry Regulatory Authority fined Woodbury Financial Services $225,000, claiming the firm’s system for supervising additions to existing variable annuities wasn’t reasonably designed to achieve compliance with applicable securities laws and FINRA rules, including those governing suitability. The problem “affected more than 3,800 transactions” from June 2013 until June 2015, violating NASD Rule 3010 […]

    Integrity Marketing Acquires Another Senior Products Distributor

    {July 19th, 2019} by Allison Bell

    A large senior products distributor has completed the acquisition of senior products distributor based in the Midwest. Integrity Marketing Group LLC of Dallas says it has closed on a deal for American Senior Benefits LLC of Olathe, Kansas. Integrity Marketing has used acquisitions to create a company with ties to about 200,000 independent agents, up […]

    WealthVest Announces Derek Roy Assumes Regional Consultant Position

    {July 19th, 2019} by WealthVest

    BOZEMAN, MONT. (PRWEB) JULY 16, 2019 WealthVest continues to grow their team of wholesalers by hiring Derek Roy, covering multiple territories throughout Northern Florida, helping advisors with retirement planning utilizing fixed and fixed index annuities. WealthVest demonstrates traditional face-to-face wholesaling as the #1 independently owned distributor of fixed and fixed index annuities in financial institutions. In […]

    Cetera, Allianz SE and Capital Group offer model retirement income portfolio tool

    {July 19th, 2019} by Editorial Staff

    Cetera Financial Group, a network of broker-dealers, along with Allianz Life, Allianz Global Investors, PIMCO, and the Capital Group asset management firm have introduced SetIncome, a tool that “enables retirees to generate a reliable source of retirement income to last the rest of their lives,” the companies said in press release. Click HERE to read […]

    Cetera Empowers Americans to Live Their Best Retirement

    {July 19th, 2019} by Cetera Financial Group

    LOS ANGELES, July 10, 2019 /PRNewswire/ — Cetera, a leading financial advice firm, has collaborated with the Allianz family and Capital Group to introduce SetIncome, a first-of-its-kind solution that enables retirees to generate a reliable source of retirement income to last the rest of their lives. The solution is now being rolled out exclusively to financial advisors […]

    Athene offers ‘Amplify,’ its first structured index annuity

    {July 19th, 2019} by Kerry Pechter

    The latest entry into the fast-growing, highly concentrated, $12.3 billion-a-year structured index annuity market is “Amplify,” a new registered index-linked annuity contract (RILA, as structured index annuity are now called) from Athene. Click HERE to read the full article via Retirement Income Journal. 

    Global Atlantic Adds Income Planning Campaign

    {July 19th, 2019} by Allison Bell

    An annuity issuer has developed two new websites in an effort to encourage Americans to prepare for retirement income needs. Global Atlantic Financial Group has added a site at GetIncomeReady.com to reach out to consumers, and a site at IncomeReady.com to reach out to financial professionals. The consumer-oriented “Income Ready” site offers videos, sample stories, and a retirement income needs […]

    ACLI Defends Retirement Bill Against ‘Stretch IRA’ Attack

    {July 19th, 2019} by Allison Bell

    The American Council of Life Insurers is defending the Setting Every Community Up for Retirement Enhancement (Secure) Act of 2019 bill against attacks on one of the bill’s “pay for” provisions: a provision that could discourage use of “stretch individual retirement accounts,” or stretch IRAs, in efforts to pass wealth on to heirs. The House passed […]

    A Guide to Indexes and Allocations on Fixed Index Annuities

    {July 19th, 2019} by Shawn Plummer

    With index annuities, you want to make sure you’re choosing a good index and allocation as a strategy for growth over the contract. Over the last 10 years, I get this question all the time, “Which index strategy should I choose for my fixed index annuity?”. Frankly, in today’s world of annuities, it’s a bit […]

    NAILBA 38 Keynote Speakers Announced

    {July 19th, 2019} by NAILBA

    Fairfax, VA, July 16, 2019: The National Association of Independent Life Brokerage Agencies, (NAILBA), announced Hall of Fame NFL Quarterback, Jim Kelly, along with former U.S. Secretary of Homeland Security and White House Chief of Staff, General John Kelly, will be the opening keynote speakers for the two-day 2019 NAILBA Annual Meeting (NAILBA 38) being […]

    Latest Ally Invest Survey: Volatile Markets Attract Millennial “Buyers”

    {July 16th, 2019} by Ally Financial

    CHARLOTTE, N.C., July 11, 2019 /PRNewswire/ — According to a new survey from Ally Invest, the majority of independent investors (54%) said they hold onto their investments when large market disruptions occur, while a still significant number (41%) said they take advantage of these market inflections to buy and add to their investment portfolio. Only five percent of […]

    Best’s Special Report: Insurers Create New Types of Coverage for Mass Shooting Attacks

    {July 16th, 2019} by Best's Insurance News & Analysis

    Oldwick – In the wake of a marked increase in mass shootings in the United States in recent years, more insurers have responded to rising demand and have begun offering active assailant insurance coverage, which carries unique features over traditional general liability policies, including risk assessment and crisis management services. The new Best’s Special Report, titled, “Insurers […]

    Lafayette Life Enhances Customer Experience With iPipeline’s E-Delivery Product

    {July 16th, 2019} by iPipeline

    iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced The Lafayette Life Insurance Company, a Cincinnati-based provider of life, annuity, retirement and pension products, has selected DocFast® e-Delivery to enhance its digital customer experience. DocFast® streamlines and improves the customer communication experience by digitally […]

    Heating Up: Hotter Earth Drives Dollars To Sustainable Funds

    {July 16th, 2019} by Associated Press

    NEW YORK (AP) — This year is on pace to be one of the hottest on record, again, and the trend may only accelerate as President Donald Trump loosens policies meant to combat climate change. That has some investors feeling anger, but others are seeing dollar signs. They’re envisioning profits made by companies targeting opportunities […]

    Americans on Edge As Market Continues Volatile Trajectory

    {July 16th, 2019} by Allianz

    Allianz Life Quarterly Market Perceptions Study Shows Americans Increasingly Fear Big Market Drops and Want to Protect Retirement Savings Key Findings Snapshot: More Americans say they fear a major recession (48% in Q2/46% in Q1/44% in 2018) or major market crash (47% in Q2/46% in Q1/42% in 2018) Only 31% of Americans said they are […]

    Opinion: 401(k) retirees won’t buy annuities unless they are better designed

    {July 16th, 2019} by Robert C. Pozen

    In an unusual bipartisan effort, Congress is close to passing the SECURE Act (Setting Every Community Up for Retirement Enhancement). In a key provision, the Act encourages employers sponsoring 401(k) plans to offer retirees the chance to convert their plan balances into annuities with monthly payments for the rest of their lives. In specific, the […]

    Athene Launches its First Registered Index-Linked Annuity with Athene Amplify

    {July 16th, 2019} by Athene

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (“Athene”), a leading provider of retirement savings products, announced the launch of Athene® Amplify, a registered index-linked annuity (RILA) with design features that set it apart in a fast-growing product category. Athene® Amplify is issued by Athene Annuity and Life Company (“AAIA”), a subsidiary of Athene. The new Athene® Amplify annuity complements […]

    Adviser compensation is the challenge with fee-based annuities

    {July 16th, 2019} by Greg Iacurci

    Fee-based annuities are becoming more popular, but there’s a thorny issue that could limit their uptake and negatively affect clients: the question of how an adviser is paid to help manage the annuity. Click here to read the full article via Investment News.

    Cetera BD to Drop FINRA Registration

    {July 16th, 2019} by Janet Levaux

    One of Cetera Financial Group’s broker-dealer firms is dropping its BD registration. Summit Brokerage, which has about 450 affiliated financial advisors with some $17.5 billion in assets, should soon become part of Cetera Advisor Networks. According to Cetera, Summit’s move to no longer register with the Financial Industry Regulatory Authority (FINRA) and instead operate as […]

    Best & Worst BDs for Advisors: J.D. Power — 2019

    {July 16th, 2019} by Janet Levaux

    This year’s J.D. Power U.S. Financial Advisor Satisfaction Study includes a mix of good and bad news. On the upside, the average satisfaction score for both employee and independent advisors improved over 2018. This is true for the majority of employee broker-dealers and indie BDs. However, the survey finds that wealth management firms have much […]

    Is Edelman Financial Engines’ New Offering a Threat to Rollovers?

    {July 16th, 2019} by Nick Thornton

    When it was announced last spring that Hellman & Friedman, the private equity firm that already owned a majority stake in Edelman Financial Services, was throwing down $3 billion in cash to take 401(k) provider Financial Engines private, one prominent industry voice predicted the deal would present an existential threat to trillions of dollars in potential IRA […]

    How Well Do Insurers Understand Their Customers?

    {July 16th, 2019} by Denise Garth

    Demographic pundits are curious about how Europe is going to survive economically in the year 2050. The population in all European countries will be in dramatic decline. Many who are within the population will be too old to be working in the economy, and there will be a decreased capability to produce the products that […]

    Leveraging Home Equity Against The Longevity Risk

    {July 16th, 2019} by Don Graves, RICP, CLTC, CSA

    With the current retirement income crisis facing baby boomers, advisors need every viable resource to help their clients and sustain their practice. Reverse mortgages have become one such resource. Historically, the financial services community has either dismissed the reverse mortgage or relegated it to use as a last resort. However, much has changed in the […]

    SBLI Simplifies Accelerated Underwriting Program with iPipeline

    {July 16th, 2019} by iPipeline

    iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has implemented iGO® Drop Ticket to simplify its Accelerated Underwriting program for independent agents and their customers. Over 250 distributors are currently participating in SBLI’s […]

    NAIC Steps Up Online Life Insurance Awareness Campaign

    {July 16th, 2019} by John Hilton

    The National Association of Insurance Commissioners plans to give agents an engaging online resource to help educate clients on life insurance products. While website educational tools by themselves are not unusual, the NAIC can provide uniformity with a 50-state reach, said Laura Kane, director of communications for the association. The idea is to create tools […]

    Lawsuits Over Disputed Ohio National Trails Moving Again

    {July 16th, 2019} by John Hilton

    After months of tepid activity, a trio of lawsuits to recover trail commissions on specific variable annuities offered by Ohio National are moving ahead briskly. The lawsuits are filed in the Southern District of Ohio. They are three of many challenges to a September 2018 decision by Ohio National to stop paying trail commissions on […]

    Life Insurance Applications Up Sharply In June, MIB Reports

    {July 16th, 2019} by Talia Chaffee

    U.S. life insurance application activity rose 3.3% in June year over year, nudging the MIB Life Index above par on a year-to-date basis for the first time since last February. June’s performance was the strongest monthly percent gain of 2019, ending the third consecutive month of slowly increasing year-over-year activity in what was an uneven […]

    Departure of Alexander Acosta could slow DOL effort to revise fiduciary rule

    {July 16th, 2019} by Mark Schoeff Jr.

    The resignation of Labor secretary Alexander Acosta on Friday could delay the agency’s release of a replacement for its fiduciary rule. Click HERE to read the full story via InvestmentNews.

    LPL partners with Nationwide on 401(k) training for bank channel advisers

    {July 16th, 2019} by Greg Iacurci

    LPL Financial has just concluded a pilot program with record keeper Nationwide to train LPL financial advisers in banks and credit unions to do retirement plan business, with the hope of ultimately capturing more small-market 401(k) clients. Click HERE to read the full story via InvestmentNews.

    CFP Board to announce possible delay of new fiduciary standard

    {July 16th, 2019} by Bruce Kelly

    The Certified Financial Planner Board of Standards Inc. will announce by next week whether it intends to delay enforcing an expanded fiduciary standard for financial advisers who hold the group’s CFP mark. Click HERE to read the full story via InvestmentNews.

    Schwab’s Subscription Advisory Service Attracts $1 Billion in Less Than 4 Months

    {July 16th, 2019} by Bernice Napach

    Schwab’s new subscription-based digital advisory service is a big hit, attracting $1 billion in new assets under management since it was introduced a little over three months ago. Schwab Intelligent Portfolios Premium, introduced March 28, has also seen a 25% increase in account openings, a 40% increase in average household assets enrolled and a 37% […]

    Millennial women and finances: Study yields surprising results

    {July 16th, 2019} by Mark Schoeff Jr.

    If any generation would have strong feminist tendencies, it would seem to be the millennials. They grew up seeing women gain power and influence. Click HERE to read the full story via InvestmentNews.

    Longevity Risk Protection Is a Global Mess: Idea File

    {July 16th, 2019} by Allison Bell

    Seth Rachlin is helping Capgemini and Efma promote a report that contains an important idea: The people of the world are much less likely to think they are well-protected against longevity risk than against health cost risk, or against climate-change risk. Capgemini is a consulting firm, and Efma is a Paris-based group for banks and insurers. […]

    Maybe Guaranteed Access to Money Can Buy Some Happiness: Idea File

    {July 16th, 2019} by Allison Bell

    Sri Reddy is one of the executives who’s helping U.S. life insurers promote the idea that retirement income guarantees matter. Reddy is a senior vice president in retirement and income solutions at Principal. He’s in charge of the company’s retail annuity and pension risk transfer operations. He has helped lead the effort to promote a white […]

    Advisers scramble to help retirees navigate looming Fed rate cut

    {July 16th, 2019} by Jeff Benjamin

    For the first time in more than a decade, financial advisers are having to prepare client portfolios for an interest rate cut by the Federal Reserve, and the general consensus of advice is to try and not panic. Click HERE to read the full story via InvestmentNews.

    Schwab Aims to Buy USAA Brokerage Business: Report

    {July 16th, 2019} by Janet Levaux

    Charles Schwab is trying to purchase USAA’s brokerage and wealth management business, according to a report Monday in the Wall Street Journal. Schwab is said to be offering about $2 billion for the unit, which includes some $100 billion of assets. The news comes on the heels of USAA’s sale of its asset-management business, including mutual […]

    Nationwide Names John Carter as Financial Services President-Elect

    {July 11th, 2019} by Nationwide

    COLUMBUS, Ohio, July 10, 2019 /PRNewswire/ — John Carter has been named as the President and Chief Operating Officer-elect of Nationwide’s financial services business lines, effective immediately. Carter succeeds Kirt Walker, who will become Nationwide’s next Chief Executive Officer in October. Reporting to Walker, Carter will oversee the company’s retirement plans, life insurance (individual, business and corporate-owned), annuities and […]

    Best’s Commentary: SECURE Act Offers Opportunities for Annuity Providers

    {July 11th, 2019} by AM Best

    Oldwick – AM Best believes that legislation to bolster retirement security that is making its way through Congress would expand market opportunities for the retirement and employee benefit segments of the U.S. life industry. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) recently passed in the U.S. House of Representatives and now heads to […]

    A New Category Of Fee-Based Insurance For A New Approach To Holistic Planning

    {July 9th, 2019} by CRAIG HAWLEY

    June 28th is National Insurance Awareness Day. As the day draws near, consider the ways a new category of fee-based insurance—expressly re-engineered to fit the way RIAs and fee-based advisors work—can help you offer clients a new approach to holistic financial planning. Whether they are saving for retirement, generating retirement income or making plans to leave […]

    What Type of Annuity Is Best For Me?


    Well, it depends … on when you want your payments, what kind of a guarantee you are looking for and whether you’re willing to take a little risk to pursue a possibly higher return. Breaking annuities down to their basics could help steer your decision. Click HERE to read the full story via Kiplinger.

    One of St. Louis’ largest companies inks $2.9B deal

    {July 9th, 2019} by Greg Edwards

    Reinsurance Group of America Inc. (NYSE: RGA) has reinsured $2.9 billion in annuities for Horace Mann Life Insurance Co., based in Springfield, Illinois. The transaction closed Monday and will take effect April 1, 2019. Horace Mann is a subsidiary of Horace Mann Educators Corp. (NYSE: HMN), the largest provider of insurance and retirement services for U.S. educators […]

    North Carolina Regulators Seize Control of Life Insurers Owned by Greg Lindberg

    {July 9th, 2019} by Leslie Scism and Mark Maremont

    North Carolina’s insurance department on Thursday took control of a group of troubled life insurers owned by indicted entrepreneur Greg Lindberg. Mr. Lindberg was arrested in April on federal criminal charges of conspiring to bribe the state’s insurance commissioner to obtain more favorable regulatory treatment. In February, The Wall Street Journal reported that Mr. Lindberg had lent at least […]

    Getting to know our VA Ambassador

    {July 9th, 2019} by Wink's RockStars

    THE ONLY BLOKE RESEARCHING ANNUITIES AT WINK. Peter J. Lamond is the VA Ambassador and the only thing more impressive than his knack for variable annuities (VAs) is his Australian accent. While Wink’s newest member isn’t the first man to brave Wink’s day-to-day operations, he has more experience than most of the Wink staff combined. Duly-licensed and ready […]

    Seven Ways It Should Be Easier To Buy An Annuity

    {July 9th, 2019} by Matt Carey

    Insurers still aren’t doing enough to modernize the process of buying an annuity. This creates a vicious cycle — longer time spent by agents on a time consuming process that yields an inadequate customer experience, which leads to lower conversion-to-sales rates, which lead to the need for higher compensation in order for agents to justify […]

    AM Best Changes Credit Ratings of Colorado Bankers Life Insurance Company and Bankers Life Insurance Company Following Regulatory Action

    {July 9th, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with negative implications and changed the Financial Strength Rating (FSR) to a Non-Rating Designation of E (Under Regulatory Supervision) from B++ (Good) and the Long-Term Issuer Credit Rating to “e” from “bbb” of Colorado Bankers Life Insurance Company (CBL) (Durham, North Carolina). Concurrently, AM Best has removed […]

    Hueler income annuity platform now open to all

    {July 9th, 2019} by Editorial Staff

    Income Solutions, the Hueler Companies’ income annuity distribution platform available for the past decade mainly to Vanguard’s institutional 401(k) and retail participants, is now available to the broad public. Click HERE to read the full story via Retirement Income Journal. 

    FIAs for Retirement Income (Why Not?)

    {July 9th, 2019} by Kerry Pechter

    To equip a 55-year-old with a fixed index annuity (FIA) so he can flip on an income stream in 10 years isn’t so different from advising him to buy 10-year bonds today and swap them for a life annuity in 10 years. Click HERE to read the full story via Retirement Income Journal. 

    Wink to Report Indexed Product Sales by Index

    {July 9th, 2019} by Allison Bell

    Here’s one sign of how big of a deal investment indexes now are in the world of U.S. life insurance and annuity products: Wink Inc. says it will be offering an index-based sales report. The Des Moines, Iowa-based company has been publishing life and annuity product sales data since 1997. In recent years, consumer groups, policymakers and some financial […]

    Massachusetts Finalizes Fee Table for RIA Firms

    {July 9th, 2019} by Bernice Napach

    Less than six months from now, advisors registered in Massachusetts will be required to provide clients and prospective clients a one-page standalone table for fees for services, which must also be easily accessible on the advisor’s website if he or she has one. The fee table “is intended to supplement, not replace, a more detailed […]

    New York lawmaker works on bill to establish fiduciary duty for advisers in state

    {July 9th, 2019} by Mark Schoeff Jr.

    A New York lawmaker is working on legislation to raise investment advice requirements in the state. Click HERE to read the full story via InvestmentNews.

    Oxford Life Introduces Agent-Friendly Tool for Calculating Annuity and Life Insurance Plans

    {July 9th, 2019} by Oxford Life Insurance Co.

    PHOENIX, July 8, 2019 /PRNewswire/ — A practical new calculator is helping independent agents show their annuity and life insurance clients the tax benefits of two products over one. The Prosperity Select Combo Calculator, created by Oxford Life Insurance Company®, offers an instant comparison of the after-tax value of an annuity purchase versus the after-tax value of an annuity-life […]

    How Charitable Giving Helps Advisors Stand Out

    {July 9th, 2019} by Jarrod Upton

    The media has given charitable giving center stage with Mackenzie Bezos’ recent announcement that she will give half of her $37 billion fortune to charity. But it’s not only billionaires who are concerned about doing good with their money. In 2017, Americans gave over $400 billion to charity—the first time the $400 billion mark was crossed in history. […]

    NAIFA Presents Leadership Nominations

    {July 9th, 2019} by Marlene Satter

    The National Association of Insurance and Financial Advisors’ Committee on Governance has announced nominations for the organization’s leadership positions for the election to be held at the NAIFA Performance + Purpose 2019 conference in Orlando from Sept. 11 to 14. Lawrence Holzberg, managing director, advance sales director at Wealth Advisory Group New York (WAG), a […]

    The Changing Face of Wealth: An Opportunity for Advisors?

    {July 9th, 2019} by Roy Urrico

    What factors contribute to the changing face of wealth? Today, “baby boomers [comprise] 55% of the wealth and affluent market, the Silent Generation represents an additional 15% of the market.” Those are some of deductions reached by the Silicon Slopes, Utah-based data optimization provider MX in an infographic it distributed. MX noted the distribution of wealth will […]

    Client longevity is advisers’ top retirement planning concern

    {July 9th, 2019} by James Gallardo

    Individuals who pay for financial advice generally are feeling positive about their ability to prepare for their post-working days. Click HERE to read the full story via InvestmentNews.

    Finra arbitrators award $1.8 million to former USAA brokers for wrongful termination

    {July 9th, 2019} by Mark Schoeff Jr.

    Finra arbitrators awarded $1.8 million to brokers who claimed they were wrongfully fired by USAA Financial Advisors. Click HERE to read the full story via InvestmentNews.

    Congress’ new SECURE Act bill is the most significant retirement plan legislation in years

    {July 9th, 2019} by Erin Arvedlund

    In May, the U.S. House of Representatives passed the most significant retirement-savings bill in more than a decade. It’s called the Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019. Let’s take a closer look at what those mean. Click HERE to read the full story via The Philadelphia Inquirer. 

    The Standard Charitable Foundation Announces Four Grants to Nonprofits

    {July 9th, 2019} by The Standard

    PORTLAND, Ore.–(BUSINESS WIRE)–The Standard Charitable Foundation, Standard Insurance Company’s charitable foundation announced four grants totaling $60,000. “At The Standard, we believe it’s important to support nonprofit organizations that increase community health and livability” “At The Standard, we believe it’s important to support nonprofit organizations that increase community health and livability,” said Greg Ness, president of […]

    Lincoln Financial Group Named a Forbes Best Employer for Women for Second Year in a Row

    {July 9th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that it has been named one of the Forbes America’s Best Employers for Women for the second year in a row. The company ranks #68 among 300 employers on the list, and the achievement follows its recent inclusion on this year’s Forbes Best Employers in America list. “The majority of […]

    It’s about to get easier for millions of California workers to save for retirement

    {July 9th, 2019} by Tanza Loudenback

    Saving for retirement just got easier for millions of Californians. Beginning July 1, workers at California companies with no employer-sponsored retirement plan may be able to contribute part of their paycheck to an individual retirement account (IRA) through a new program called CalSavers. The program began its pilot phase last fall, offering Roth IRAs to employees at participating companies. Since […]

    Principal Completes Acquisition of Wells Fargo Institutional Retirement & Trust Business

    {July 8th, 2019} by Principal Financial Group

    Acquisition includes Wells Fargo’s defined contribution, defined benefit, executive deferred compensation, employee stock ownership plans, institutional trust and custody and institutional asset advisory businesses Doubles Principal U.S. retirement businessi and expands on its trust & custody and discretionary asset allocation capabilities Integration work underway with leader appointments and location commitments July 01, 2019 10:21 AM Eastern […]

    Judge Recommends Throwing Out Ohio National’s Motion To Dismiss Class Action

    {July 8th, 2019} by InsuranceNewsNet

    A magistrate judge for the Southern District of Ohio recommended that a motion by Ohio National Life Insurance to dismiss a class action lawsuit against it involving the termination of trail commissions on certain variable annuities be denied, according to court documents. Judge Stephanie Bowman issued the report last week in a class action suit filed […]

    Nature Conservancy’s Dave Jones: Insurers Could Benefit From Impact Investing

    {July 8th, 2019} by Best's Insurance News & Analysis

    SINGAPORE – Dave Jones, senior director at The Nature Conservancy and California’s former insurance commissioner, said insurers should consider investing in environmental reclamation projects that sell credits into cap and trade markets. He spoke with AM BestTV at the Global Insurance Forum. Following is an edited transcript of the interview. Q: What is the Nature […]

    Poll: 1 in 4 don’t plan to retire despite realities of aging

    {July 8th, 2019} by ANDREW SOERGEL

    CHICAGO (AP) — Nearly one-quarter of Americans say they never plan to retire, according to a poll that suggests a disconnection between individuals’ retirement plans and the realities of aging in the workforce. Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner than they’d like. According to […]

    AIG promotes 2 presidents to CEO positions

    {July 8th, 2019} by Robert Steyer

    Todd Solash, president, individual retirement at AIG Life & Retirement, and Robert Scheinerman, president, AIG Retirement Services, have been named CEOs of their respective businesses, AIG Life & Retirement said Monday. The promotions were announced in conjunction with the retirement of Jana Greer as president and CEO of retirement. Messrs. Solash and Scheinerman, who had reported to Ms. […]

    Active managers putting pressure on index funds

    {July 8th, 2019} by Jeff Benjamin

    It’s too early to claim a revival for active management, but based on the solid performance this year, it might also be premature to give up on active management all together. Click HERE to read the full story via InvestmentNews.

    Americans Are “Somewhat Confident” That They’ll Have Enough Money to Comfortably Retire According to New Survey

    {July 8th, 2019} by Gold IRA Guide

    NEW YORK, July 2, 2019 /PRNewswire/ — A new survey of 1,700 Americans between the ages 25 and 65+ examines their confidence levels with regards to having enough money for a comfortable life during retirement, with some fascinating and shocking results. The study was commissioned by Gold IRA Guide, a renowned online magazine covering alternative investments for IRA and 401k account holders. Survey […]

    How Kindness Changes Lives, Builds Business

    {July 8th, 2019} by John Hilton

    SAN DIEGO — Plenty of conference speakers talk about changing the world, but Matt Irvine brought receipts. Speaking at the National Association of Health Underwriters’ annual convention, Irvine, a sales vice president at HealthEquity, shared stories of giving and receiving life-changing interactions. He began with his own rock-bottom story: penniless, homeless and carless 23 years […]

    Women whose spouses control the finances may be putting themselves, their families at risk

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

    Over 40 years of marriage, one of Stacy Francis’ clients took a back seat to her husband when it came to the family’s investments and finances. Click HERE to read the full story via InvestmentNews.

    Guardian Life Insurance Company of America Expands Executive Team

    {July 8th, 2019} by Kate Sullivan

    NEW YORK – The Guardian Life Insurance Company of America said Brian Scanlon will join the company in a newly created role as executive vice president of business development and chief marketing officer. The purpose of Scanlon’s role is to enhance delivery of products, services and communications that meet consumers’ financial needs, Guardian said in […]

    MassMutual, CommonBond Offer Student Loan ReFi Plan: Portfolio Products

    {July 8th, 2019} by Bernice Napach

    Massachusetts Mutual Life Insurance Co. has teamed up with CommonBond to offer a new student loan refinancing program through MassMutual’s network of 9,000 financial advisors across the U.S. Both undergraduate and graduate loans can be refinanced through this program, including federal, private, Parent Plus and previously consolidated loans. Borrowers can choose variable or fixed rates and […]

    Gary Shilling: The Recession May Have Already Begun

    {July 8th, 2019} by Bernice Napach

    A U.S. recession “may already be underway,” and the bond market rally that began in the early 1980s is still intact, says Gary Shilling, founder of the investment advisory firm A. Gary Shilling & Co. In his latest Insight report released just before Friday’s stronger-than-expected jobs report, Shilling writes that the 10-year Treasury note yield […]

    Arizona Sets Insurance Rules for Living Organ Donors

    {July 8th, 2019} by  Joseph D’Allegro

    A new Arizona law may affect how life insurers in the state do business with a consumer who has donated a kidney or another organ to another person. The new legislation— an amendment to the state Unfair Insurance Practices law — applies to any state resident who donates an organ to another living person. The […]

    Reg BI: How rollovers are changing under the new SEC rules

    {July 8th, 2019} by Greg Iacurci

    The Securities and Exchange Commission in early June made the most significant changes to investment-advice standards in more than two decades — and rollovers were no exception. Click HERE to read the full story via InvestmentNews.

    ‘We Are Part of the Problem’: Billionaires and Heirs Demand Wealth Tax

    {July 8th, 2019} by Tom Metcalf and Suzanne Woolley

    They’re an eclectic bunch — some of the nation’s most privileged heirs alongside entrepreneurs who have made spectacular fortunes in real estate, finance and Silicon Valley. But collectively they’re united on the need to tax more of the richest Americans’ assets. George Soros, heiresses to the Pritzker fortune, Abigail Disney and Facebook Inc. co-founder Chris […]

    The Rolling Stones Know What You Need: An Annuity

    {July 6th, 2019} by Jeff Sommer

    So it’s come to this: surgery, deferred annuities and rock ’n’ roll. The Rolling Stones, the bad boys of rock in the 1960s and ’70s, are showing their age. In April, the band postponed the start of its North American tour so that Mick Jagger could have surgery, reportedly to replace a damaged heart valve. Now, he is prancing onstage again, and […]

    Why We Should Rethink Joint Payout Elections

    {July 6th, 2019} by July 2019

    When it comes to guaranteed lifetime withdrawal benefits on a fixed indexed annuity, why are joint payouts often left out of the conversation? Click HERE to read the full story via InsuranceNewsNet.

    Investors Are Battening Down the Hatches for a Recession: Wells Fargo

    {July 3rd, 2019} by Michael S. Fischer

    American investors are less optimistic about maintaining household income and reaching their short- and longer-term investing goals than they were a year ago, according to the latest Wells Fargo/Gallup Investor and Retirement Optimism Index, released Tuesday. The index, which measures U.S. investor confidence in the investing climate, fell to 85 for the second quarter, down from […]

    Sammons Financial Group Breaks Ground on New Building for Growing Workforce

    {July 3rd, 2019} by Sammons Financial Group Inc

    WEST DES MOINES, Iowa, June 20, 2019 (GLOBE NEWSWIRE) — Sammons® Financial Group, Inc. (SFG), parent company of Midland National Life Insurance Company® and North American Company for Life and Health Insurance®, broke ground on their new local headquarters and expanded office space. Designed to accommodate the company’s growth for the next 10 to 20 years, the building will provide […]

    American Financial to Change Annuity Performance Reporting

    {July 3rd, 2019} by Allison Bell

    American Financial Group Inc. has decided to change the way it reports on the performance of its Great American Life Insurance Company annuity operations, to adjust for the effects of new financial reporting rules on net income. Accounting bodies and regulators are starting to push publicly traded insurers to include the effects of ups and […]

    BlackRock Examines Ways to Bring Annuities to 401(k)s

    {July 3rd, 2019} by Dawn Lim

    World’s largest money manager has lobbied on key parts of bill making sweeping changes for retirees. Click HERE to read the full story via The Wall Street Journal.

    Adviser regulation caught up in partisan era, making it hard to plan for future

    {July 3rd, 2019} by Mark Schoeff Jr.

    Opponents of the Securities and Exchange Commission’s recently approved investment advice reform — including the SEC member who voted against it — suggest the regulations will be revisited and changed by a new SEC in a Democratic administration. Click HERE to read the full story via InvestmentNews.

    Annuity Issuers Use Death Forecasting Tech: Willis Towers Watson

    {July 3rd, 2019} by Allison Bell

    Many North American life insurers are getting ready to make a lot more use of predictive analytics in forecasting how long people will live. Few of those insurers are making much use of predictive analytics in individual annuity pricing or claim management operations today. Analysts at Willis Towers Watson have published data supporting those conclusions in a […]

    New TIAA Campaign Warns Against ‘Running Out’

    {July 3rd, 2019} by Allison Bell

    As the Senate debates retirement legislation, TIAA is launching a major new brand and “Never Run Out” advertising campaign. The message of the campaign is that users of TIAA’s lifetime income products never run out of retirement income. The campaign conveys the importance of never running out of retirement income by showing situations in which things […]

    Genworth, Oceanwide Agree to Merger Deadline Extension

    {July 3rd, 2019} by Marlene Satter

    Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. have agreed to yet another waiver in their previously announced merger agreement that extends the deadline beyond June 30, 2019. According to Genworth, the delay is necessary to allow time to consider options for disposition of its interest in Genworth MI Canada Inc. The 11th […]

    Americans Lose Trillions Claiming Social Security at the Wrong Time

    {July 3rd, 2019} by Ben Steverman

    Almost all American retirees claim Social Security at the wrong time, a new report estimates, which means they will miss out on a collective $3.4 trillion in benefits before they die. While they can tap their benefits as early as age 62, retirees could boost the size of their checks for every year they wait until age 70, when the maximum […]

    O’er the land of the free and the home of the brave.

    {July 3rd, 2019} by Wink's RockStars

    Happy 4th of July!  The Wink office will be closed July 4th and 5th for an extended holiday.   We wish you a safe and wonderful Independence Day!       

    Harness Wealth Rolls Out Advisor Matchmaking Service for Gen Xers

    {July 2nd, 2019} by Michael S. Fischer

    Harness Wealth, a New York-based wealthtech business that provides individuals access to  financial advice, began offering its platform of services to the public this week. The platform will focus mainly on Gen X mid-career professionals with high earning potential, a group that it said in an announcement has been underserved by existing providers. Harness Wealth […]

    Opportunities for Highly Personal Retirement Income Recipes

    {July 2nd, 2019} by Hearts & Wallets

    (June 25, 2019, Rye, NY) – Sharp contrasts between the expectations of the yet-to-be retired with the realities of current retirees suggest retirement income recipes will mix multiple sources, incorporating work, where possible, and creative use of real estate, according to the latest report by Hearts & Wallets, the source for retail investor data and […]

    Worried About Market Volatility in Retirement? Consider Whole Life Insurance, Report Says

    {July 2nd, 2019} by OneAmerica

    INDIANAPOLIS–(BUSINESS WIRE)–Not having enough assets to generate income in retirement or losing assets because of market downturns are common concerns of those preparing for retirement, but whole life insurance as part of a solid retirement strategy can do more to alleviate those issues than many people might think, a recent report shows. “Integrating Whole Life […]

    Best’s Special Report: Are Life/Annuity Insurers Prepared to Weather Another Economic Downturn?

    {July 2nd, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Although many precursors to the 2008-2009 financial crisis are repeating today, AM Best believes the life/annuity (L/A) industry is much more resilient than a decade ago and well-positioned to navigate future challenges. Still, many of AM Best’s concerns in the run-up to the financial crisis exist today, and a new special report looks at how […]

    IBDs with the most female reps

    {July 2nd, 2019} by InvestmentNews

    It’s no secret that women are underrepresented among the ranks of financial advisers. In 2017, Cerulli reported that fewer than 16% of advisers are women. Click HERE to read the full story via InvestmentNews.

    NAIC Working Group Working OT To Finalize Annuity Sales Rules

    {July 2nd, 2019} by John Hilton

    An insurance commissioners’ working group is accepting a new round of comments through July 10 and scheduled two 90-minute conference calls in a bid to finalize an annuity sales rule. The National Association of Insurance Commissioners hosts their summer meeting in Manhattan Aug. 3-6. It would appear that the Annuity Suitability Working Group is trying […]

    LIMRA Survey: Advisors Better Be On Social Media

    {July 2nd, 2019} by Staff and Wire Reports

    LIMRA research shows 27% of Americans prefer to work with an agent or advisor when buying life insurance. New findings from the 2019 Insurance Barometer Study show about 1 in 5 Americans (17%) say they are looking for a financial advisor. Millennials and Generation X consumers are most likely to be among those who are […]

    Morningstar Tweaking Ratings to Emphasize Cost

    {July 2nd, 2019} by Janet Levaux

    Morningstar ratings are set to focus more on costs in the fourth quarter, according to a note it sent to clients Friday. Also, the research firm will make its ratings system tougher for active fund managers and will tweak how it evaluates ESG products. The changes could mean downgrades for some of the 25,000 investment products that […]

    Judge rejects Ohio National motion to throw out case involving variable annuity commissions

    {July 2nd, 2019} by Greg Iacurci

    A broker of LPL Financial Inc. has won an important round of legal sparring with Ohio National Life Insurance Co., with a judge ruling that the broker’s class-action lawsuit over variable annuity trail commissions should move forward. Click HERE to read the full story via InvestmentNews.

    FINRA Study Finds Widening Gaps in Financial Capability

    {July 1st, 2019} by Michael S. Fischer

    The latest findings from the FINRA Foundation’s National Financial Capability Study suggest that key measures of Americans’ financial capability may have plateaued after six year of substantial improvements. For the majority of Americans, financial capability, stability and confidence are no longer improving in step with the economy. The NFCS was first conducted in 2009 and then […]

    Number of New Group Term Lives Covered Falls 7%

    {July 1st, 2019} by Allison Bell

    Life insurers were a little more likely to hold on to existing group term life business in 2018, but they were noticeably less likely to make new group term life sales. Analysts at Gen Re have reported data supporting those conclusions in a summary of results from a survey of 25 U.S. group term life […]

    House Votes to Halt SEC Regulation Best Interest

    {July 1st, 2019} by Melanie Waddell

    The full House approved on Wednesday House Financial Services Committee Chairwoman Maxine Waters’ amendment to block the Securities and Exchange Commission from enforcing Regulation Best Interest. The House voted 227-200 to pass Waters’ amendment along with a package of other changes to HR 3351, the Financial Services and General Government Appropriations Act. The provision would prevent […]

    SEC Reg BI Involves ‘Massive Implementation’ Process: Peirce

    {July 1st, 2019} by Melanie Waddell

    SEC Commissioner Hester Peirce warned broker-dealer executives Thursday to brace for a “massive implementation” process for Regulation Best Interest, and urged attendees to alert the agency quickly to any compliance hurdles. “As I said at the time we adopted the [Reg BI] rule, it’s a very aggressive implementation timeline,” Peirce said at the Securities and […]

    Federal Judge Gives Preliminary OK to Accordia Class Action Settlement

    {July 1st, 2019} by Allison Bell

    A federal court in Illinois has taken a step toward approving a deal that could apply to the owners of 530,000 interest-sensitive life insurance policies who were affected by a life insurance company system conversion effort. Judge Colin Stirling Bruce — a judge in the U.S. District Court for the Central District of Illinois — recently issued […]

    The 2019 Life, Health and Annuity Professional Generational Recognition Program

    {July 1st, 2019} by Allison Bell

    We’ve run a “30 Under 30″ recognition program for several years. The results were great: We got to feature dozens of young life, health and annuity sector professionals who are out there trying to make a living by protecting people against the risks of getting sick, becoming disabled, dying, or outliving their income. But then […]

    Finra suffers net $68.7 million loss despite increased revenue, decreased expenses

    {July 1st, 2019} by Mark Schoeff Jr.

    Finra suffered a net loss of $68.7 million in 2018 despite increasing revenue and declining expenses, according to the regulator’s annual reportreleased Thursday. Click HERE to read the full story via InvestmentNews.

    Retirees lose $3.4 trillion by claiming Social Security too early

    {July 1st, 2019} by Mary Beth Franklin

    Despite all the talk about the value of maximizing Social Security benefits, it seems few retirees are listening. Click HERE to read the full story via InvestmentNews.  

    Insurers bend rule on indexed universal life with new policy features

    {July 1st, 2019} by Greg Iacurci

    Insurers appear to be sidestepping a recent rule meant to tamp down on overly rosy projections of returns in indexed universal life insurance policies via new product features, an alarming trend that may deceive or confuse would-be buyers, advisers said. Click HERE to read the full story via InvestmentNews.

    What’s Behind the ‘Great Unbundling’ of Wealth Management?

    {July 1st, 2019} by Timothy Welsh

    In the world of wealth management, revenue opportunities derive from typical activities. These include advisory fees, mutual fund investments, managed account enrollments, security transactions, platform fees, and other products and services that are neatly bundled in the delivery of financial advice via a human advisor in some form of the financial planning process. Now more […]

    Annuities reign supreme for TIAA as it plans to exit life insurance market

    {July 1st, 2019} by Jason Woleben

    TIAA has reportedly decided to exit the life insurance market at the end of 2019, and an analysis shows that its new individual life insurance premiums have been falling since 2016. Click HERE to read the full story via S&P Global. 

    TIAA exit from life insurance market exposes void for RIAs

    {July 1st, 2019} by Greg Iacurci

    TIAA’s decision to exit the life insurance market by year-end exposes a glaring void, and challenge, for some financial advisers who recommend life insurance to clients. Click HERE to read the full story via InvestmentNews.

    Annuity Awareness Month, Is your Clients’ Income Guaranteed?

    {July 1st, 2019} by Talia Chaffee

    June marks the beginning of Annuity Awareness Month, and a great time to educate your clients on the benefits of annuities. Annuities can be an integral part of your clients’ long-term retirement planning strategy, providing direction to help them overcome unnecessary risks and important optional benefits that help them to protect their financial future. Annuities […]

    Why I Bought an Annuity at Age 29

    {July 1st, 2019} by Sheryl Moore

    You read the headline, and you are already screaming at me. “Why would you buy an annuity when retirement is half-a-lifetime away!” Note that those of you who are anti-annuity are probably experiencing seizures already. Someone call some help for them. No mistake. You read that right. Yes, I purchased my first deferred annuity when […]

    Security Benefit Increases Withdrawal Rates for Foundations Lifetime Income Rider

    {June 28th, 2019} by Security Benefit Life

    Convenient Income Calculator shows increases by age across contract types TOPEKA, Kan.—June 25, 2019—Security Benefit announced it has significantly increased the Lifetime Withdrawal Rates for the Foundations Annuity optional Guaranteed Lifetime Withdrawal Benefit Rider (Lifetime Income Rider), from 30 to 50 bps higher for each age. Available only on the 7-year product, the increased withdrawal […]

    North American Company for Life and Health Insurance Launches New ADDvantage Term Life Product

    {June 26th, 2019} by North American Company for Life and Health

    WEST DES MOINES, Iowa, June 24, 2019 (GLOBE NEWSWIRE) — North American Company for Life and Health Insurance® (North American), a member of Sammons® Financial Group, Inc. (SFG) and one of America’s leading insurance companies, today announced new lower premiums for its ADDvantage® Term life insurance product. In addition to competitive rates, ADDvantage Term features an accelerated death benefit for […]

    How Likely the Government Thinks You Are to Die This Year

    {June 25th, 2019} by Allison Bell

    The life insurers that issue annuities are keenly interested in whether annuity holders will die this year. They hope, as kind human beings, that the annuity holders will live long and healthy lives, but shorter lives would cut contract benefits payouts. Issuers come up with death rate forecasts for a particular year by using their […]

    Unknowingly Sticking It To Your Annuity Clients? Reprint #AnnuityAwarenessMonth

    {June 25th, 2019} by Sheryl J. Moore

    Posted By: Editor On 8/3/2011 11:00:00 AM By Sheryl Moore AnnuityNews Are you sticking it to your clients? You might be and not even know it. The key to illuminating whether you are unknowingly putting your life insurance and annuity clients in a bad position with the products that you sell them is to identify […]

    10 IBDs with the most variable annuity revenue

    {June 25th, 2019} by InvestmentNews

    Variable annuities have seen some hard times recently. Click HERE to read the full story via InvestmentNews

    Geneva Association Elects 4 Board Members from Ping An, Prudential, PICC and Aviva

    {June 25th, 2019} by Geneva Association

    The Geneva Association, the global organization of insurance and reinsurance chief executive officers (CEOs), announced the election of four new board members. They are: Yuansiong Lee, co-CEO, Ping An Insurance Co. of China; Charles F. Lowrey, CEO, Prudential Financial; Jianmin Miao, Chairman, The People’s Insurance Company of China, and Maurice Tulloch, CEO, Aviva. Click HERE […]

    Annuity Issuers Use Death Forecasting Tech: Willis Towers Watson

    {June 25th, 2019} by Allison Bell

    Many North American life insurers are getting ready to make a lot more use of predictive analytics in forecasting how long people will live. Few of those insurers are making much use of predictive analytics in individual annuity pricing or claim management operations today. Analysts at Willis Towers Watson have published data supporting those conclusions in a […]

    Honorable Mention

    {June 25th, 2019} by Editorial Staff

    In a step toward the completion of Principal’s acquisition of the Wells Fargo Institutional Retirement & Trust (Wells Fargo IRT) business, a number of former Wells Fargo managers have moved into positions at Principal Retirement & Income Solutions, Principal reported this week. Click HERE to read the full story via Retirement Income Journal.

    Allianz Study: Women Report Steady Decline In Financial Confidence

    {June 25th, 2019} by InsuranceNewsNet

    While the past few years have put a spotlight on female empowerment, women say they are struggling to make progress with financial confidence and decision making, according to the 2019 Women, Money and Power Study*from Allianz Life Insurance Company of North America (Allianz Life®). In fact, the financial picture for women isn’t particularly bright when compared […]

    Financial Prosperity Eludes Many Americans Despite Growing Economy and Declining Unemployment

    {June 25th, 2019} by Business Wire

    June 20, 2019 — WASHINGTON–(BUSINESS WIRE)–As the gap between the Haves and the Have-nots continues to widen, cash-strapped Americans are failing to save money, struggling with student loan debt and facing decreasing financial literacy, despite economic growth and declining unemployment over the past 10 years, according to new research from the FINRA Investor Education Foundation […]

    Life Insurers CAN Face Dangerous Runs: Fed Economists

    {June 25th, 2019} by Allison Bell

    Some life insurers’ deals with big, institutional clients could lead to sudden, dangerous demands for enormous amounts of cash, according to three economists at the Federal Reserve Board. Nathan Foley-Fisher and two colleagues write, in an informal article published on the Fed website in May, that those life insurers could face spikes in demand for cash  that […]

    Senate confirms Allison Lee to SEC

    {June 25th, 2019} by InvestmentNews

    The U.S. Senate voted Thursday to confirm Allison Lee to serve as a Securities and Exchange commissioner, bringing the markets regulator back to full strength. Click HERE to read the full story via InvestmentNews. 

    HAFA Mobilizes Members to Fight Senate Agent Comp Disclosure Provision

    {June 25th, 2019} by Allison Bell

    Health Agents for America (HAFA) wants members to call senators on the Senate Health, Education, Labor and Pensions Committee, to ask the senators to kill a new health insurance producer compensation provision. Sen. Lamar Alexander, R-Tenn., the chairman of the committee, and Sen. Patty Murray, D-Wash., put the provision in Section 308 of S. 1895, […]

    The Advisor Compliance Issue That’s Bigger Than Reg BI

    {June 25th, 2019} by Jane Wollman Rusoff

    The biggest compliance issue facing advisors isn’t Reg BI. It’s cybersecurity. Protecting clients’ and firms’ confidential information from a nightmare breach is critical — and urgent, says attorney and compliance expert Beth Haddock in an interview with ThinkAdvisor. A 20-year-plus veteran of running big firms’ compliance departments, she has helmed her own compliance consultancy, Warburton […]

    Ohio National Extends Whole Life Line

    {June 25th, 2019} by Allison Bell

    Ohio National Financial Services is adding two new products to its whole life insurance line. The Cincinnati-based company is introducing the Prestige Value IV and Prestige 100 II policies. Both products can accept premium payments up until the insureds turn 100. Consumers can add a flexible paid-up addition rider. A policyholder who adds that rider can make […]

    AIG and CUNA Mutual enhance variable annuities

    {June 25th, 2019} by Editorial Staff

    AIG’s Polaris Income Plus Daily Flex and Polaris Income Plus Flex riders will have higher lifetime income rates. CUNA Mutual’s Horizon II will have variable and indexed-variable investment sleeves. Click HERE to read the full story via Retirement Income Journal.

    The Derivatives that Power Index Annuities

    {June 25th, 2019} by Kerry Pechter

    FIA owners can pick from an array of choices as cryptic as those on a roulette table. But if they don’t understand options, how can they evaluate these safe but esoteric insurance products? Click HERE to read the full story via Retirement Income Journal.  

    Ron Rhoades: SEC Reg BI Is ‘Greatest Securities Fraud in History’

    {June 25th, 2019} by Jane Wollman Rusoff

    The Securities and Exchange Commission has committed “the greatest securities fraud in history” by adopting Regulation Best Interest, making BDs “pretend fiduciaries” who think their duty of care can be satisfied by disclosing conflicts of interest, a belief that’s “ludicrous,” fiduciary law expert Ron Rhoades tells ThinkAdvisor in an interview. The former estate planning attorney […]

    10 Years After Recession’s End, Millions Are Treading Water Financially: Survey

    {June 25th, 2019} by Michael S. Fischer

    Ten years after the end of the recession, 23% of Americans who were adults at its onset in December 2007 — some 47 million people — are in worse financial shape than they were before it hit, Bankrate.com reported Thursday. Another one in four of respondents in a survey said they were doing about the same now […]

    Prudential and Lincoln Were Talking to Investors. About You

    {June 25th, 2019} by Allison Bell

    Some insurers seem to act as if life insurance policies and annuities will just show up in consumers’ lives, like paper clips, or rubber bands. Executives from some other insurers occasionally admit to investors and securities analysts that they still need live humans to persuade other live humans to spend money to protect themselves against mortality, morbidity […]

    Fed signal sends advisers into fixed-income scramble

    {June 25th, 2019} by Jeff Benjamin

    The Federal Reserve Board’s signal earlier this week that it is preparing for its first interest-rate cut in 10 years sent a chill through some corners of the financial planning industry, as rate cuts typically indicate rough times ahead. Click HERE to read the full story via InvestmentNews.

    Financial planning for same-sex couples has changed immensely since 2015 Supreme Court marriage ruling

    {June 25th, 2019} by Greg Iacurci

    Financial planning for same-sex couples has undergone a vast transformation in the four years since the Supreme Court made same-sex marriage a right nationwide, according to advisers who work with LGBTQ clients. Click HERE to read the full story via InvestmentNews.

    Make Your Clients’ Money Last Throughout Retirement

    {June 25th, 2019} by InsuranceNewsNet

    Many people worry about running out of money in retirement. That’s understandable, since we don’t know how long we’ll live, what your future costs might be and what kind of returns we can expect on our savings. There are several ways, however, to boost the odds that your money will last as long as you […]

    Symetra Becomes The First Founding Partner Of NHL Seattle, New Arena And Practice Facility

    {June 25th, 2019} by NHL Seattle

    SEATTLE, June 24, 2019 /PRNewswire/ — Oak View Group (OVG)  and Seattle Hockey Partners (NHL Seattle) today announced Symetra Life Insurance Company as the first founding partner and sponsor of the National Hockey League’s 32nd franchise, the New Arena at Seattle Center, and Northgate Ice Centre. Symetra, based in Bellevue, Wash., is a national provider of employee benefits, annuities, and life insurance.  As […]

    Nationwide introduces Nationwide Peak® 5 fixed indexed annuity

    {June 25th, 2019} by Nationwide

    COLUMBUS, Ohio, June 19, 2019 /PRNewswire/ — Nationwide announced today it has added a new fixed indexed annuity (FIA), Nationwide Peak® 5, to offer clients additional ways to maintain principal protection while offering the potential for higher returns and growth. For conservative clients, Nationwide Peak 5 can provide an alternative to low-yielding fixed products such as money markets or […]

    Jackson RateProtector Fixed Annuity Launches

    {June 25th, 2019} by Jackson National Life Insurance Company

    NASHVILLE, Tenn.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced the launch of Jackson RateProtectorSM, a single premium, multi-year guaranteed fixed annuity. Jackson RateProtector offers consumers the opportunity to protect and grow their assets through guaranteed interest rates that will not fluctuate during a selected time period, combined with the ability to defer taxes on any earnings […]

    Uncertainty Casts a Pall Over Investors and Advisors: Nationwide

    {June 25th, 2019} by Michael S. Fischer

    Investor and advisor optimism fell at the beginning of this year for the first time in four years, according to Nationwide Advisory Solutions. Investor optimism fell from 62% in 2018 to 55%, and advisor optimism from 66% to 55%. Nationwide’s fifth annual Advisor Authority study found that 66% of investors and 56% of RIAs and fee-based advisors […]

    Vanguard Prepares to End Variable Annuity Offering

    {June 25th, 2019} by Bernice Napach

    Vanguard is preparing to end its variable annuity offering for retail investors. Over the next 12 to 18 months it will transfer client servicing and account administration for the Vanguard Variable Annuity to Transamerica. “While insurance-based options can be an appropriate choice for some investors, annuity administration is not central to our long-term product and […]

    Ed Slott: The Pros and Cons of Annuities in Retirement Plans

    {June 25th, 2019} by Melanie Waddell

    Welcome back to Human Capital. I’m Melanie Waddell in Washington. After chatting with Senate Finance Committee Chairman Chuck Grassley, R-Iowa, recently about the timing of Senate passage of the Setting Every Community Up for Retirement Enhancement (Secure) Act of 2019, I checked in with IRA expert Ed Slott to get the lowdown on complaints being lodged that the […]

    RGA Reinsures $2.9 Billion Horace Mann Annuity Block

    {June 25th, 2019} by Allison Bell

    An arm of Reinsurance Group of America Inc. (RGA) has reinsured a $2.9 billion block of annuities for Horace Mann Life Insurance Company, a subsidiary of Horace Mann Educators Corp., RGA and Horace Mann announced today. The deal will free up about $185 million in capital at Horace Mann Life. Horace Mann Life’s parent plans […]

    Andrew Hartnett Joins Iowa Insurance Division as Deputy Administrator for Securities

    {June 25th, 2019} by Iowa Insurance Division

    Des Moines, Iowa – Iowa Insurance Commissioner Doug Ommen today announced that Andrew Hartnett has been appointed as Deputy Administrator for Securities. “The Iowa Insurance Division has long had great national leadership in the area of securities regulation and I’m pleased to announce that Andrew Hartnett will be joining us to help continue that tradition.  […]

    GAO Asked to Investigate Impact of DOL Fiduciary Rule

    {June 25th, 2019} by Nick Thornton

    Two leading Democratic lawmakers on retirement issues are asking the Government Accountability Office to investigate the impact of the Labor Department’s fiduciary rule, which was vacated by the Fifth Circuit Court of Appeals a year ago, on the financial services industry, retirement plan sponsors, and retirement savers. Labor’s rule, which was finalized in 2016 after nearly six […]

    Rep. Waters Seeks to Block SEC Regulation Best Interest

    {June 25th, 2019} by Melanie Waddell

    House Financial Services Committee Chairwoman Maxine Waters, D-Calif., wants to block the Securities and Exchange Commission from enforcing Regulation Best Interest. Waters offered an amendment to the Financial Services and General Government Appropriations Act of 2020, H.R. 3351, to prohibit the SEC from using funds to enforce Reg BI. The House Rules Committee voted late […]

    Annuity Rates: No Reason to Get Psyched Out: Reprint #AnnuityAwarenessMonth

    {June 25th, 2019} by Sheryl J. Moore

    Let me guess: you nor your agents haven’t sold fixed annuities for at least a decade. Am I right? Well, give me a minute. I am going to challenge you about why we all should probably keep that arrow in our quivers. It doesn’t take a rocket scientist to figure out why fixed annuities aren’t […]


    {June 25th, 2019} by Wink's RockStars

    This week’s newsletter is the last installment of our Annuity Awareness Month Edition.  Stay tuned for Life Insurance Awareness Month in September!  June is Annuity Awareness Month! We have reprinted our Chief Storyteller, Sheryl Moore’s most requested annuity-focused articles all month long; these are indicated with “reprint” in the title.  You’ll find these timeless articles are […]

    DON’T ASSUME PROSPECTS KNOW ANNUITIES, Reprint #AnnuityAwarenessMonth

    {June 25th, 2019} by Sheryl J. Moore

    DON’T ASSUME PROSPECTS KNOW ANNUITIES April 21, 2013 by Sheryl J. Moore By Sheryl J. Moore, President and CEO of Moore Market Intelligence, an indexed product resource in Des Moines, IA.   I was speaking to a health insurance agent today who was looking for information on life insurance and annuities. He was genuinely interested […]

    How Much Money Do You Need to Retire?

    {June 24th, 2019} by Bernice Napach

    $1.7 million. That’s how much Americans believe they should save in order to retire, according to a Schwab survey of 1,000 401(k) plan participants between the ages of 25 and 70. Unfortunately, few are likely to attain that goal. Almost 60% of survey respondents said their 401(k) plan was their only or largest source of […]

    Life and Annuity Distributor Arranges $395 Million in Financing

    {June 24th, 2019} by Allison Bell

    If you’re selling a company that markets or distributes life insurance, health insurance or annuities, AmeriLife Group LLC might have the cash to buy it. The Clearwater, Florida-based life, health and annuity distributor announced today that it has replaced its old credit facilities with new facilities that can provide up to $395 million in financing. […]

    Massachusetts Fiduciary Plan Looks Awfully Familiar, Lawyers Say

    {June 24th, 2019} by Melanie Waddell

    Massachusetts’ fiduciary proposal is “very similar” to the one floated by New Jersey and may indicate that “an emerging model of regulation with respect to uniform standards of conduct is afoot,” according to members of Stradley Ronon’s Fiduciary Governance Group. The Stradley Ronon attorneys argue in a just-released legal alert that such a model regulation […]