Results for "variable annuities"

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As DOL fiduciary rule dies, variable annuities come alive — sales up for first time since 2014

August 21, 2018

The death of the Department of Labor fiduciary rule is breathing new life into the variable annuity business. Following 17 consecutive quarters of sales declines, dating back to 2014, there was some good news for insurers in the second quarter...

Finra whacks Advisor Group, NPH with $2.7 million in fines over variable annuity sales

July 25, 2018

The Financial Industry Regulatory Authority Inc. has censured four broker-dealers of Advisor Group and four National Planning B-Ds for poor supervision of variable annuity exchanges, fining them a total of almost $2.7 million. The individual...

SEC bars ex-LPL rep over variable annuity sales

July 9, 2018

The Securities and Exchange Commission has barred a former LPL rep, Roger Zullo, based on a charge he sold unsuitable and "disproportionately large" variable annuities to his clients. Mr. Zullo, a resident of Massachusetts, was discharged by...

Finra fines Park Avenue Securities $300,000 over variable annuity sales

April 11, 2018

The Financial Industry Regulatory Authority Inc. has censured Park Avenue Securities and fined the firm $300,000 for problems in its supervision of variable annuity sales. In a letter of acceptance, waiver and consent, Finra said that from Jan....

Fixed annuity sales set for massive spike

June 7, 2018

Fixed-rate deferred annuities are poised for a huge jump in sales over the next two years, as rising interest rates and a potentially faltering equity market push consumer money into the products at near-record levels, according to Limra, an...

Finra fines Fifth Third Securities $4 million for variable-annuity violations

May 8, 2018

The Financial Industry Regulatory Authority Inc. has fined Fifth Third Securities $4 million and ordered it to pay approximately $2 million in restitution to customers for "failing to appropriately consider and accurately describe the costs...

Four challenges in using annuities for retirement planning — and how to overcome them

May 8, 2018

Over the years, I've had countless conversations with advisers about retirement planning and the use of guaranteed income products. While some embrace annuities and their ability to offer consistency in retirement income, others are more dismissive....

AXA reverses course on variable annuity buyout

April 16, 2018

AXA Equitable Life Insurance Co. is no longer proceeding with a variable-annuity buyout round that it had planned to do beginning in May. "AXA has decided to not move forward with the buyout program at this time," AXA said in an email it sent...

Insurers still grappling with costly variable-annuity promises

April 13, 2018

Insurance companies are still trying to wriggle out of promises made years ago to consumers of their variable-annuity products, as certain contract features have proven too generous in light of market conditions such as persistently low interest...

Indexed annuity sales rise in Q1 as DOL fiduciary rule stalls

May 22, 2018

Indexed annuities posted a double-digit increase in sales last quarter as the headwinds posed by the Labor Department's fiduciary rule dissipated. Broader economic developments, such as the market volatility during Q1 and rising interest rates,...

Finra institutes disciplinary proceedings against broker over alleged improper variable annuity sales

April 3, 2018

The Financial Industry Regulatory Authority Inc. has instituted disciplinary proceedings against Frederick David Holloway, the owner of Holloway & Associates Inc., to disgorge alleged ill-gotten gains from recommendations he made to clients...

Are annuities finally getting some respect?

March 31, 2018

For years, financial advisers have had a love-hate relationship with annuities. The financial products, which offer a guaranteed stream of income, have long been maligned by some financial advisers and the broader public as being costly, confusing...

Have variable annuities sales hit rock bottom?

March 31, 2018

Sales of variable annuities are in the tank. Product sales have slid for the past six consecutive years, and 2017 sales (roughly $96 billion) were the lowest in two decades.​ Will variable annuities recover from the slump, or has their heyday...

Department of Labor's fiduciary rule blamed for insurers' massive hit on variable annuity sales

March 28, 2017

The variable annuity industry took a beating in 2016, with several of the top sellers inking losses upwards of 25% on the year and some exceeding 40%. The Department of Labor's fiduciary rule, issued in its final form last spring, played a big...

Finra fines Ameritas $180,000 over VA sales

November 9, 2017

The Financial Industry Regulatory Authority has censured and fined Ameritas Investment Corp. $180,000 for lapses in the supervision of variable annuity sales. In a letter of acceptance, waiver and consent, Finra said that between September 2013...

Finra orders Morgan Stanley to return $200,000 in variable annuity sale

October 11, 2017

In a continuing focus on improper sales of variable annuities, a Finra arbitrator has ordered Morgan Stanley to rescind a client's variable annuity and return her $200,000 investment. While the arbitrator denied the request of client Jacqueline...

Indexed annuities likely to rebound after dip in sales last year

April 25, 2018

Sales of indexed annuities look like they are going to bounce back this year after dipping in 2017, a first for the product line in almost a decade. Broker-dealers and market observers indicate that a combination of trends — namely, an increase...

The leading variable annuities with living benefits

February 22, 2015

Carrier Benefit 65 Year old with a 10 year waiting period (first withdrawal at age 75) Roll-Up info Step-up info Applicable Withdrawal Percentage Annual Withdrawal Amount Current Fee Amount Fixed % Increase Simple/ Compound Highest Anniv. Value...

Finra report hints at trouble with L-share variable annuities

December 8, 2017

Variable annuities sold in an L share continue to turn up as products plaguing broker-dealers and their compliance departments. Finra, in a recent report detailing its examination findings, called out "multi-share class and complex products"...

Insurers are selling off old annuity business — what advisers need to know

May 23, 2018

Insurance companies have been selling old blocks of annuity business at a rapid clip, and it's likely the quick pace of transactions will continue at least through this year and possibly beyond. This could ultimately be bad news for policyholders...

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