Results for "annuities"

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Pacific Life swims against the tide in the indexed annuity market

March 9, 2018

Pacific Life Insurance Co. is an outlier among the scores of companies selling indexed annuities. Of the roughly 60 companies that manufacture these annuities, Pacific Life is unique in that it guarantees the maximum interest rate on its products...

Appeals court upholds DOL fiduciary rule in case involving fixed indexed annuities

March 13, 2018

A federal appeals court upheld the Labor Department's fiduciary rule in a decision issued on Tuesday. The 10th Circuit Court of Appeals ruled in favor of a Kansas district court that granted summary judgment to the DOL in a lawsuit filed by...

These 3 things may be keeping your clients up at night

March 5, 2018

What advisers do best is help their clients with the uncertainties of their financial lives. This year has already brought more unpredictability to the table, and many Americans are wondering if they need to reassess their financial plans. Here...

SEC reaches $3.6 million settlement with Voya over securities lending

March 8, 2018

The Securities and Exchange Commission on Thursday announced a $3.6 million settlement with investment adviser subsidiaries of Voya Holdings Inc. for a securities lending practice that harmed mutual fund investors. In its order, the SEC alleged...

Startup offers annuities online on a subscription plan

March 1, 2018

Matt Carey studied Arabic at the University of Pennsylvania, preparing for what he hoped would be a career at the Central Intelligence Agency. Eleven years later, he's pitching annuity contracts. He's actually happy about that. A summer job...

Buffer annuities grow in popularity

February 13, 2018

Buffer annuities, also known as structured or variable-indexed annuities, are starting to gain traction. These products, a cross between indexed and variable annuities, have seen sales surge, as several other annuities have seen sales retreat....

DOL fiduciary rule continues to take toll on annuity sales

February 21, 2018

The Department of Labor fiduciary rule and the interest-rate environment delivered a one-two punch to annuity sales last year, pushing them down for the third consecutive year. Compared with the previous year, overall annuity sales dipped 8%...

Indexed annuities' performance may not be what you expect

February 16, 2018

At first glance, indexed annuities may sound quite similar to index mutual funds. Their names suggest as much. Consumers can buy annuities that are linked to the Standard & Poor's 500 index, like their mutual-fund counterparts. Plus, indexed...

Prudential pivots toward indexed annuities

January 29, 2018

Prudential Financial Inc. Monday announced the launch of its first indexed annuity, the latest variable-annuity carrier to pivot toward the increasingly popular annuity. The variable annuity market has had a rough go in recent years, having...

Massachusetts finds MetLife 'missing' pensioners, Galvin says

March 1, 2018

The Massachusetts securities regulator has found hundreds of retirees in the state who are owed pension payments by MetLife and whom the insurer said it had been unable to locate. MetLife provided the names to Secretary of the Commonwealth William...

Pension risk transfers swelled nearly 70% in 2017

March 2, 2018

Employers offloaded pension liabilities at nearly record levels in 2017, a reflection of the fact that pension plans have become more costly to keep on the books, longevity has increased and 401(k) plans have grown more popular. Rising interest...

Complexity of new indexed annuities causing concern

December 14, 2017

The way indexed annuities have evolved has led to concern from some corners of the insurance market, with some critics saying insurers have developed increasingly complex products in hopes of standing out in a competitive market. Indexed annuities...

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"...

Bond dilemma requires new thinking

February 22, 2018

The case for bonds in investment portfolios has traditionally been compelling. With higher certainty of returns at lower volatility, they have been the stable cornerstone of portfolios, particularly over the last three decades, as bond prices...

Next Financial whacked (once again) by Finra

December 7, 2017

Next Financial Group Inc. is back in hot water with regulators and agreed on Tuesday to pay a $750,000 fine to Finra as part of settlement for a variety of violations, including the failure to catch a broker's excessive trading and poor supervision...

Morgan Stanley and adviser win lawsuit over annuity distribution

January 8, 2018

Morgan Stanley has prevailed in a lawsuit alleging the company and one of its advisers acted negligently when it told clients to take a particular type of annuity distribution, which cost the clients nearly $300,000 in tax liabilities. While...

Have annuity sales bottomed out?

November 29, 2017

Annuity sales have fallen to their lowest point in well over a decade, but industry experts believe a turnaround is at hand. Sales among all annuity products in the third quarter were $46.8 billion, the first time since 2002 that quarterly sales...

New York lobbies for nationwide 'best-interest' standard for life insurance sales

January 26, 2018

New York State is lobbying for a higher standard of care for life insurance sales across the country, arguing that consumers need stronger protections from conflicted advice and building off a national dialogue set off by the Department of Labor...

Advisers fear private equity's reach into VAs

December 20, 2017

Editor's note: This story has been updated with information about the sale of Voya Financial's annuity business. Financial advisers have expressed alarm over recent reports of insurers looking to offload large blocks of variable annuities to...

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...

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