Top Department of Labor official joins the National Association of Insurance Commissioners to discuss collaboration on the future of the fiduciary rule. Better data from the insurance industry is needed, DOL deputy secretary says.
Read moreCommentary As you read this, most of you are aware that the Comment Period on delaying the DOL Rule was…
A deadline to comment on the controversial Department of Labor fiduciary rule expires at midnight Friday.
What licenses do you need to sell various financial products in a Department of Labor fiduciary rule world? Our Kim O’Brien discusses the various licenses and dismisses some incorrect information.
Commentary As you read this, most of you are aware that the Comment Period on delaying the DOL Rule was…
A deadline to comment on the controversial Department of Labor fiduciary rule expires at midnight Friday.
The Department of Labor could delay phase two of its controversial fiduciary rule by two years, analysts say. Phase two is slated to take effect Jan. 1, 2018, but could be delayed by one year, with financial services getting a year beyond that to comply.
The Department of Labor fiduciary rule’s harshest mandates will for sure be delayed beyond the Jan. 1, 2018 effective date, a panel of experts agreed today. Whether those mandates are softened or not remains to be seen.
Little disruption to clients reported by advisors as they transition to the full Department of Labor fiduciary rules, a new survey finds. Though more changes are expected if the rule is implemented as written on Jan. 1, for now the rules appear marginally disruptive.
Nationwide becomes the latest company to offer its first fee-based fixed indexed annuity. The new products are being developed in response to the Department of Labor fiduciary rule.
What licenses do you need to sell various financial products in a Department of Labor fiduciary rule world? Our Kim O’Brien discusses the various licenses and dismisses some incorrect information.
A new bill by Rep. Ann Wagner, R-Mo., draws mixed reviews at a House subcommittee hearing today. The bill would scrap the Department of Labor fiduciary rule in favor of a more industry friendly standard.
President Donald J. Trump has vowed to ease or get rid of regulations across the business world. So why are government agencies ramping up investigations of registered investment advisors?
New annuity research tool by Beacon Annuity Solutions will help advisors demonstrate that their recommendations are in the best interest of clients, a company executive says.
As part of its review of the Obama administration’s fiduciary rule, Department of Labor regulators are expected to consider returning fixed indexed annuities to a less-stringent exemption.
The Department of Labor is prepared to help advisors survive under the new fiduciary rules by possibly carving out new exemptions and amending existing ones, according to documents published Thursday. Is it the lifeline the industry seeks?
The Impartial Conduct Standards in the Department of Labor fiduciary rules have caused some confusion. Our Kim O’Brien is here to sort it all out.
Any thoughts that new Labor Secretary Alexander Acosta would decline to defend the controversial fiduciary rule went out the window with a brief filed Monday in the Fifth Circuit Court of Appeals.
The Department of Labor announced two new comment periods Friday — 15 and 30 days — on different aspect of its controversial fiduciary rule. Will the rule go fully into effect?
Two new indexed variable annuity products will help Allianz Life Insurance post record sales and deal effectively with the new regulations in the Department of Labor fiduciary rule, company execs say.
The SEC is hinting at taking up fiduciary rulemaking. New Chairman Jay Clayton kicked off the process June 1 by soliciting public comment. Investors and advisors responded with concerns.
The Department of Labor fiduciary rule has not had a major impact on annuity sales yet, say execs with a top Midwest insurer. The second phase of the rule, which takes effect Jan. 1, 2018, will likely be a different story, they add.
IMOs and FMOs should be fine to sell variable and fixed indexed annuities under the transition Best Interest Contract for the rest of the year, a pair of experts say. But a definitive word is unknown.
The Duty of Diligence contained in the Department of Labor fiduciary rule will require advisors to employ a standardized, systematic and repeatable process when issuing advice, our Kim O’Brien says.
New fixed-indexed annuity products with shorter seven-year surrender periods are driving down commissions, new data shows. First-quarter indexed annuity commissions dropped to 4.96 percent from 5.37 percent a year ago.
Financial planners say pressure from taxes and regulation are making them less likely to recommend life and annuity products. Can these products adapt and thrive beyond 2017?
States are charging into the fiduciary pool, with Nevada passing a fiduciary standard for any advisors licensed to do business in the state. Others are seeking fiduciary language via other means.
A panel discussion at an industry conference looked at what could be next for the fiduciary rule.
The Department of Labor fiduciary rule begins taking effect at 11:59 tonight. That means acting as a fiduciary, making no misleading statements and accepting only “reasonable compensation.”
Firms large and small make their final moves to get into compliance with the Department of Labor fiduciary rule, which begins taking effect at 11:59 p.m. Friday. What comes next?
Ohio National adds creative rider to new fixed-indexed annuity product. Does it signify future direction of FIA products? How will the impending fiduciary rules affect sales?
Labor Secretary Alexander Acosta blasts the Obama administration for failing to consider industry concerns about the fiduciary rule. The DOL is busy reviewing the rule for possible changes, he told a House subcommittee today.
The ‘duty of care’ is just one of the fiduciary duties required by the DOL Rule, which takes effect Friday. Our Kim O’Brien explains how the duty of care impacts the financial advice advisors give.
Defined contribution plan-focused online advisory firms are expected to double over the next five years as clients flock to a pay-as-you-go method of saving for retirement, according to an industry expert.
Any lawyer can sue on recommendations made after June 9 under the new fiduciary rule, one industry analyst says. Here’s what agents/advisors need to do to meet the new compensation regs.
Literally all avenues remain open to Labor Secretary Alexander Acosta to amend or rewrite the controversial fiduciary rule, analysts say. The rule begins to take effect June 9.
The Department of Labor’s fiduciary rule will be applied on June 9, but lightly and with a review before the…
The Department of Labor fiduciary rule will begin taking effect as scheduled on June 9 after new Labor Secretary Alexander Acosta declined to delay the rule again.
Washington, D.C. (May 19, 2017) – NAFA, the National Association for Fixed Annuities, is continuing its full-court press on the…
Industry witnesses joined House Republicans Thursday in calling on President Donald J. Trump to further delay the Department of Labor fiduciary rule. The rule is slated to take effect in two phases: June 9 and Jan. 1, 2018.
Can the insurance-only agent not only survive but prosper under the Department of Labor fiduciary rule? Our Kim O’Brien says yes. She explains how in the first of a four-part series.
Newly sworn-in Secretary Alexander Acosta holds the fate of the Department of Labor fiduciary rule. Will he choose to fight to delay and amend the Obama-crafted rule? Absent a reprieve, the rule begins taking effect June 9.
Republican-led House is eager to pass legislation gutting Dodd-Frank and blocking the Department of Labor fiduciary rule; Will the Senate go along?
Variable annuity sales plunged by 21 percent last year over 2015, but the drop could be over, some analysts predict. A resolution to the Department of Labor fiduciary rule would help.
Voya Financial credits new products, expanded distribution and higher agent productivity for strong first-quarter numbers.
More than 100 Republican lawmakers sign a letter asking Department of Labor Secretary Alexander Acosta to eliminate the fiduciary rule.
Annuities are the perfect compliment to Social Security to provide Americans with income that cannot outlive, notes our Kim O’Brien. So why in the Department of Labor trying to squash the products?
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