Results for "annuities"

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VA firms step up wholesaler training

February 25, 2008

Insurers are stepping up their wholesaler education efforts to help advisers prepare for tougher suitability rules involving the sale of variable annuities. Finra's Rule 2821, which becomes effective May 5, requires principals of advisory firms...

Sean Dilweg

February 25, 2008

As Wisconsin's insurance commissioner and vice chairman of the Life Insurance and Annuities (A) Committee of the Kansas City, Mo.-based National Association of Insurance Commissioners, Sean Dilweg is focusing on suitability, wholesaler training...

Wachovia tops in annuity-sales commissions

February 20, 2008

Wachovia Corp. earned the most commissions from annuity sales last year, beating other bank holding companies for the title, according to Singer’s Annuity and Funds Report. The Charlotte-based bank collected $483 million in annuity fees, or...

Plains state aims for plain English

February 18, 2008

Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities. In an initiative backed by the state's insurance division, the American Council of Life Insurers in Washington...

Annuities gain ground in retirement market

February 11, 2008

Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report. The report, which was released late last month by Boston-based Financial Research...

Gazing at the new-product horizon

February 4, 2008

The forces that drove the retirement marketplace in 2007 — the automatic enrollment and default option provisions of the Pension Protection Act of 2006, the aging baby boomers and a focus on the rollover market — will continue to shape product...

VAs can boost retirement returns, study finds

February 4, 2008

Variable annuities with guaranteed-minimum-withdrawal benefits allow investors to reduce risk and increase retirement income, according to a recent study. Paired with mutual funds in a portfolio, a VA can create a higher income level over a...

Insurers revamp equity index annuities for boomers

January 28, 2008

Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors. Historically, the products, also known as fixed-index annuities, have been...

Annuity sales can destroy estate planning strategies

January 28, 2008

Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said. The annuity industry brought in $189.4 billion in year-to-date sales by the end of the third quarter last...

Advisers ponder whether to sell annuities

January 7, 2008

Now that annuities are becoming accepted as part of an overall retirement income program, fee-only planners are wondering whether they should sell the products themselves or refer sales to outside agents. "There's more pressure brought to bear"...

More states may clamp down on improper asset transfers

December 17, 2007

Elder-law attorneys are concerned that the new year will bring new rules in a number of states regarding how — and if — immediate annuities can work with Medicaid eligibility and planning. Brokers and advisers who are unaware of these rules...

Client frame of mind plays role in purchase of annuities

December 17, 2007

The mind-set of clients presents a significant stumbling block to advisers who recommend annuities as a retirement-planning tool. While many investors are on a quest for steady income during their retirement, some freeze up at the thought of...

Fixed-income annuities gain clout among advisers

December 3, 2007

More advisers are turning toward fixed-income annuities as a new asset when they create retirement plans for their baby boomer clients. "With the dearth of defined benefit plans, lifetime income has become an asset class unto itself," said Joe...

Raymond James researches VA riders

December 3, 2007

Raymond James Financial Inc. of St. Petersburg, Fla., last month rolled out a series of research reports on variable annuity riders designed to help its reps sort through the confusing array of products. The firm believes it is the first broker-dealer...

Mutual fund/insurance hybrid on the horizon

November 26, 2007

As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries. "[Asset managers and insurance companies] are trying to provide...

Is disinterest in retirement products problematic?

November 26, 2007

Financial advisers lack interest in new retirement income products, with many reporting that the products are too complicated and costly, according to observers. "Skepticism is healthy, but advisers may be missing the boat on the subject. They...

Birthday gift annuities relieve worries

November 19, 2007

Children don't always grow up to be the responsible types we hope for. My client Anne is divorced, with a traditional individual retirement account valued at $1 million. She loves her adult children, but she worries about leaving them money...

National Financial grows annuity platform

November 15, 2007

National Financial Services LLC of Boston, a Fidelity Investments company, announced today that seven additional insurance carrier have joined the company’s annuity program for broker-dealers. The company’s web-based annuity program allows...

B-Ds brace for new rule on sales of deferred VAs

November 5, 2007

A new rule governing broker-dealers' sales of deferred variable annuities is about to drop, and the firms are arming themselves to face it — but not without a little grumbling. The Financial Industry Regulatory Authority Inc.'s Rule 2821,...

Vendors of equity index annuities look to education

November 5, 2007

While many financial advisers continue to criticize and shun equity index annuities, insurance companies that sell the product are trying to improve its tarnished image by focusing on education. "A few firms walked away from it, but this product...

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