The Department of Labor’s fiduciary rule would have an imprint on everything from product development to information technology to the revenue volume generated by individual business segments, according to two financial industry executives.
For sellers of fixed annuities, a sticking point in the Department of Labor’s fiduciary proposal surrounds the Prohibited Transaction Exemption 84-24, also known as PTE 84-24, which has traditionally provided agents with relief from compensation restrictions.
Insurance and wealth advisory companies began reporting second quarter earnings this week. Here is a roundup from the companies with the most important wealth advisory and insurance segments.
The measure, Senate Bill 426 (Leyva), requires that, when fixed deferred annuities are issued to consumers age 65 or older, the death benefit must at least equal the annuity amount or the accumulation value.
The DOL schedule starts two months after the rule is published. The ACLI says insurance companies and marketers need three years.
Individual advisors, industry trade groups and consumer associations weren’t shy about sharing their views on the U.S. Department of Labor’s fiduciary rule.
Fixed index annuities (FIAs), the long-time darlings of the insurance agency world, may be on their way to becoming the darlings of their one-time nemesis, the broker/dealer community.
MetLife’s announcement that it had entered the individual qualifying longevity annuity contract (QLAC) market offers advisors and their clients more retirement income flexibility.
“If your intention is to drive small firms out of business, you are doing a very good job,” one advisor wrote in comments to the Securities and Exchange Commission.
The Department of Labor’s proposed fiduciary rule will disproportionately harm financial firms that deal significantly in variable annuities, according to Credit Suisse analysts.
Advisors and industry groups who want to comment on the U.S. Department of Labor’s (DOL) proposed fiduciary rule, also known as the conflict of interest rule, have until 11:59 p.m. Tuesday, July 21, to submit written comments.
“RIAs are the sole growth story in a shrinking industry,” one industry observer said.
The pension risk transfer (PRT) market is not something that retail agents know much about, because they don’t work in…
Recent fines levied by Massachusetts financial regulators indicate that some states are serious about enforcing regulations designed to protect seniors, a group often targeted by brokers and financial advisors.
Talk of health insurance premium increases has begun creeping into the headlines.
The Department of Labor’s fiduciary rule proposal would force broker-dealers to have small savers sign a contract “virtually upon entering…
A lawsuit pending in federal court claims that reinsurance transactions used to transfer life and annuity liabilities onto in-house insurance companies amount to organized crime.
The Obama Administration delivered two booster shots to the retirement industry as part of Monday’s 2015 White House Conference of Aging, held in Washington and online.
Judge says AIG has a basis for its claim that Coventry orchestrated a scheme in a life settlement deal.
