A new firm is assisting insurance agents in becoming registered investment advisers so the agents can obtain fee income from advice and securities products.
The mutual fund giant said that it has started offering 401(k) plans an online platform that participants can use to purchase annuities.
Jackson National Life Insurance Co. today reported total sales of nearly $3.5 billion in the first quarter, up 21% from the same period a year ago.
The Bank of New York Co. Inc, parent of Jersey City, NJ-based Pershing LLC, posted a 3% increase in net income during the first quarter.
Proponents of health savings accounts and their mandatory high-deductible health insurance plans have come out swinging against a study concluding that the plans cost women about $1,000 more per year than men.
Most financial advisers wouldn’t expect to find health insurance in the same store where they buy lumber and fertilizer, but it turns out that the folks in orange aprons really can help with just about anything.
Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study.
NEW YORK — Financial advisers can safely increase their clients’ retirement income by 50% or more by structuring withdrawals differently, according to a certified public accountant who specializes in retirement income planning.
NEW YORK — As long as the stock market keeps rising, and baby boomers keep getting older, variable annuity sales should continue to be robust, industry observers say.
Advisers who start their own practices after leaving larger firms often find that their biggest obstacle is obtaining affordable health insurance for themselves and their families, observers say.
Nobody ever accused companies that push annuities on older Americans of being subtle.
Some insurers are taking away their advisers’ group health insurance and other employment benefits if proprietary-product quotas aren’t met, advisers say.
A life insurer known mainly for its fixed annuities has thrown its hat into the variable annuity ring.
John Hancock led the industry with $735 million in individual life insurance sales last year, according to a recent survey of 78 major life insurers by LIMRA International Inc.
Many insurers are providing incentives to their advisers to sell proprietary products, despite claiming to have “open architecture” platforms, according to industry observers.
NEW YORK — Advisers with clients who need life insurance for tax minimization and wealth transfer may want to consider a new policy geared to that market.
Add class action litigation to the regulatory controversies, bad press and other woes plaguing insurers that sell equity index annuities.
Industry leaders are concerned that insurance companies are taking on too much risk from annuities that offer guaranteed-withdrawal benefits for the life of the client. Financial services leaders worry that if baby boomers live longer than projected or a downturn hits the market, the financial strength of insurance companies could be threatened.
When banks and brokers first started offering health savings accounts, clients could choose any investment they wanted for their account funds — as long as it was a certificate of deposit.
NEW YORK — A securities law firm is seeking class action status for clients who may have been financially damaged by an insurer’s threats and commission incentives designed to skew adviser judgment in favor of proprietary products.
