Results for "fixed annuities"

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Dallas judge in DOL fiduciary rule suit deals yet another blow to indexed annuities

February 10, 2017

The federal judge who this week dealt plaintiffs fighting the Department of Labor's fiduciary rule a stinging defeat also dealt a blow to indexed annuities, a product that has taken quite a beating since the DOL issued its final rule last spring....

Dodd-Frank repeal could lead to big changes for indexed annuities

February 6, 2017

President Donald Trump's executive order to review the Dodd-Frank financial reform law could wind up complicating the indexed annuity market for insurers and distributors. Dodd-Frank, signed into law in 2010 under the Obama administration, contained...

Conditions fertile for annuities if industry can connect with investors

February 1, 2017

Most investors want guaranteed, pension-like income yet are reluctant to buy an investment that can provide it: an annuity. That reluctance, the so-called annuity puzzle, may be closer to being resolved as a combination of factors — fewer...

DOL proposes allowing some insurance intermediaries to use a BICE under fiduciary rule

January 18, 2017

The Department of Labor issued a proposed rule Wednesday that would ease compliance with its fiduciary rule for some distributors of fixed annuity products such as indexed annuities. The rule is a proposed class exemption that, if granted, would...

Office of Management and Budget reviewing proposed exemption under DOL fiduciary rule for some indexed annuity distributors

January 4, 2017

The Labor Department has submitted for review a proposal that would seemingly ease the compliance process for some distributors selling fixed indexed annuities under the fiduciary rule. The Department of Labor sent its proposal, titled “Exemption...

Finra hits Valic Financial Advisors with $1.75M fine for creating compensation conflicts

November 28, 2016

Citing a number of conflicts of interest having to do with the way it compensated brokers selling annuities, the Financial Industry Regulatory Authority Inc. on Monday said it had fined Valic Financial Advisors Inc. $1.75 million. “Finra found...

Federal court rejects NAFA attempt to kill DOL fiduciary rule

November 4, 2016

In a victory for the Department of Labor, a federal judge Friday rejected an attempt by an insurance trade group to strike down its new fiduciary rule for retirement advice. In the first court decision involving a legal challenge to the DOL...

Some firms opting to sell fixed annuities under best-interest contract exemption to keep trips, bonuses intact

October 17, 2016

Some financial institutions are opting to sell certain types of fixed annuities under a stricter compliance regime of the Labor Department's fiduciary rule than is necessary, in order to continue to offer incentives such as bonuses and trips....

Nationwide to buy Jefferson National

September 28, 2016

Nationwide has agreed to buy Jefferson National, a distributor of variable annuities for clients of registered investment advisers. The acquisition, which expands Nationwide's ability to sell financial products through Jefferson National's network...

Indexed annuity sales have best-ever quarter in Q2: Limra

August 17, 2016

Fixed indexed annuity sales in the second quarter were the highest on record, according to Limra, as low interest rates continue to push investors away from more traditional fixed-income investment options. Fixed indexed annuities posted $16.2...

Indexed annuity sales projected to plummet 30% because of DOL fiduciary rule

August 2, 2016

Fixed indexed annuity sales are projected to decline 30% to 35% next year due to a new Labor Department rule raising investment advice in retirement accounts, according to Limra, signaling the disruptive power the regulation will have on insurance...

Insurers developing fee-based fixed-indexed annuities post-DOL fiduciary rule

July 14, 2016

Insurance companies are going full steam ahead developing fee-based fixed-indexed annuities due to greater anticipated demand from distributors for advisory products as a result of the Labor Department's fiduciary rule. Allianz Life Insurance...

Indexed annuity distributors weigh launching B-Ds due to DOL fiduciary rule

June 23, 2016

Distribution networks representing independent insurance agents are weighing, and in some cases forging ahead with, plans to launch broker-dealers to continue selling fixed-indexed annuities in retirement accounts under the Labor Department's...

DOL must keep dialogue open on fiduciary rule

June 12, 2016

Whatever the reason, the sudden withdrawal of Deputy Assistant Secretary of Labor Timothy Hauser from a panel at the Insured Retirement Institute conference June 6 was a blunder. Mr. Hauser had an opportunity to clarify some of the issues, and...

Two more industry groups file lawsuits against the DOL fiduciary rule

June 9, 2016

The list of lawsuits against the Labor Department got longer Thursday, as two more industry groups joined three others in taking aim at the fiduciary rule in court. The rule requires advisers to retirement accounts to act in the best interests...

Variable annuity sales drop to lowest level in 15 years: LIMRA

May 20, 2016

Sales of variable annuities plunged to their lowest level in 15 years last quarter as the Labor Department's fiduciary rule loomed large and market volatility scared consumers away from equity-based products. Variable annuity sales were $26.6...

Variable and fixed-indexed annuities feel sting of DOL fiduciary rule

April 6, 2016

Those who thought fixed indexed annuities would be a benefactor of the Labor Department's fiduciary rule may want to think again. The Department of Labor dealt a bit of a surprise blow to fixed indexed annuities in the final iteration of its...

Meet the annuity 'robo' looking to undercut insurance agents

April 1, 2016

Websites like Orbitz, Priceline and Expedia helped do-it-yourself-minded travelers undercut travel agents, putting price and value comparison at the hands of the consumer right in their own home. Sign onto a computer or mobile device, fire up...

Nationwide, AIG see huge gains in fixed indexed annuity sales; Allianz and Security Benefit flounder

March 24, 2016

Nationwide and American International Group saw sizable gains in fixed indexed annuity sales last year, jumping into the Top 10 sales leaderboard and reaping the benefits of a market appetite for indexed annuities that only seems to be growing....

Rising interest rates pushing annuity product development

March 22, 2016

Insurers are trying to capitalize on an environment of rising interest rates by developing annuities that would benefit investors as rates increase. Security Benefit Life Insurance Co., Allianz Life Insurance Co. of North America and New York...

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