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IBDs, wirehouses drive second-largest sales quarter for fixed indexed annuities

September 4, 2015

The wirehouse and independent-broker-dealer channels propelled fixed indexed annuities to their second-best quarter of all time, with the insurance products notching $12.6 billion in total sales through June, according to figures published yesterday...

Fidelity throws its weight behind longevity annuities

August 21, 2015

Fidelity Investments is giving its clients a new option for planning for the costs and risk of living longer. The retirement-plan services giant said Thursday it will offer a variety of deferred-income annuities to individual retirement accounts....

MetLife launches first longevity annuity for individual clients' retirement accounts

July 20, 2015

MetLife Inc. on Monday unveiled its first longevity annuity for individuals' retirement accounts, becoming the latest firm to seize on new rules allowing plan beneficiaries to use insurance products that defer income distributions far longer...

Raymond James bolsters indexed annuities and life wholesaling with acquisition

May 29, 2015

Looking to step up its indexed annuities and life wholesaling game, Raymond James Financial Inc. announced Friday it would acquire The Producers Choice, an insurance marketing organization. The deal is expected to close mid-summer, and Producers...

Time may have come to eliminate sales incentives in the annuities business

May 7, 2015

Even as fiduciary duty becomes a common phrase in the parlance of financial advisers, insurance agents are still offered gold watches and other incentives for annuity sales. Sen. Elizabeth Warren, D-Mass., brought the issue of incentives in...

New York Life raises the living benefit stakes — on a fixed annuity

March 13, 2015

Here's something you don't see every day: a fixed deferred annuity with a guaranteed lifetime withdrawal benefit. And it might be a good competitor against a number of existing variable and indexed annuities. New York Life Insurance Co.'s Clear...

Raft of new annuity products has broker-dealers scrambling to train reps

February 22, 2015

A raft of new offerings and changing needs for retirement income are spurring broker-dealers to tweak their product training seminars for advisers. It wasn't that long ago that variable annuities were a favorite among representatives. Clients...

Deferred-income annuities grab spotlight from traditional variable annuities

February 22, 2015

The lowly deferred-income annuity is finally getting its moment in the sun, as well as in clients' retirement income plans. Deferred-income annuities started as a variation of the single-premium immediate annuity (SPIA), using a similar concept:...

MetLife gets back in the variable-annuity-with-living-benefits game

February 13, 2015

Longtime variable annuity player MetLife Inc. is stepping off the sidelines and getting back into the game as it launches a new living benefit rider. The New York-based insurer will release a new guaranteed lifetime withdrawal benefit rider,...

The battle for your clients' retirement dollars

February 3, 2015

The war for your clients' annuity dollars is on. Why annuity sellers are fighting for your IRA The way things are shaping up, what's good for consumers isn't so much for business. Corporate America feels downdraft while recovery lifts households...

'Longevity' in annuities could be the big 2015 focus

December 29, 2014

Where the retirement market will go next year is anybody's guess, but insurance industry experts foresee a ramp-up in product development for certain types of annuities. For broker-dealers, 2014 appears to be the year of the indexed annuity,...

2014 big for indexed annuities: Broker-dealer execs

December 23, 2014

The year isn't over yet, but executives at broker-dealers say they've had a major rise in the indexed-annuity business — to the point that it may be cannibalizing sales of variable annuities. At Raymond James Financial Inc., the annualized...

The new variable and indexed annuity leaders

December 17, 2014

Variable annuities are a staple of broker-dealers' business, offering clients the opportunity to garner market exposure on a tax-deferred basis. In recent years, however, sales of indexed annuities — which credit interest to a client's account...

Wells Fargo pushes insurers to lower commissions on indexed annuities

September 10, 2014

Annuity gatekeepers at broker-dealers are closely watching Wells Fargo Advisors as it presses insurers to lower commissions for the indexed annuities sold by its representatives. Last Monday, Wells Fargo launched an updated annuity platform...

One of industry's last holdouts, NAIFA elects its first female president

September 4, 2014

For the first time since it was founded in the early 1890s, the National Association of Insurance and Financial Advisors will be led by a woman, starting next week. Juli McNeely will be installed as NAIFA president Monday during its annual conference...

Jackson National extends variable annuity lead

August 19, 2014

Jackson National Life, owned by UK-based Prudential Plc, extended its lead in U.S. variable annuity sales at its unit as rivals scaled back. Jackson sold $12.7 billion of the retirement contracts in the first six months of 2014, an increase...

Can an adviser affiliated with an insurance company be fee only? Yes.

July 21, 2014

For nearly two years, the issue of compensation descriptions has roiled the investment-advice business. The topic becomes even trickier when insurance licenses are thrown into the mix. Whether investment advisers like it or not, the Certified...

Structured product annuities pose challenges for regulators

July 9, 2014

Structured product annuities are the latest retirement product but they are so new that regulators are struggling to figure out the best way to classify them. These contracts, dubbed hybrid or buffered annuities, use structured products to absorb...

BlackRock raises equity allocation in target date funds

June 25, 2014

BlackRock Inc. today announced it would raise its equity allocation in its LifePath Index target-date funds, keeping younger investors fully invested in stocks even longer and bumping up stocks at the landing point of retirement. Under the current...

Hartford Financial Services Group names a new CEO

June 9, 2014

Hartford Financial Services Group Inc. promoted Christopher Swift to chief executive officer to replace Liam McGee, who is stepping down after a medical procedure related to a brain tumor. Mr. Swift, the 53-year-old chief financial officer who...

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