Results for "annuities"

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Readers weigh in on annuity buyout offer

January 23, 2019

As a nation, we have become accustomed to divided politics. As a financial planning community, we have our own version of contentious issues, and one of those hot-button issues involves variable annuities. When I asked InvestmentNews readers...

Being underinvested can be a risky business for preretirees

January 14, 2019

Preretirees who suffered large portfolio losses in the economic collapse of 2008 may feel reluctant, or entirely too scared, to invest in the stock market and take the chance of getting burned again. Some may have experienced the double bubble...

Anatomy of an annuity buyout offer

January 14, 2019

I may be going out on a limb, but after receiving numerous negative comments about my decision to purchase a deferred variable annuity from Ohio National Insurance Co. a decade ago, I am laying out the specifics of the company's recent buyout...

Ironic twist in the Ohio National annuity saga

January 11, 2019

The months-long feud between Ohio National and financial advisers has taken a strange and ironic twist. The latest perplexity involves a recent notice sent to some annuity clients of Ohio National, which stunned the brokerage industry in September...

It's about to get easier to do a 1035 exchange with annuities

January 8, 2019

Insurance companies aren't exactly known as pioneering when it comes to digital technology. Most are entrenched in paper-dominated transactions with consumers and their financial advisers. Annuity providers, however, are making a synchronized...

Another LPL adviser sues Ohio National over variable annuity commissions

January 2, 2019

Another LPL Financial adviser has sued Ohio National Life Insurance Co. and its subsidiaries for ceasing the payment of trail commissions on certain variable annuity policies, joining a chorus of other parties to have filed similar legal claims...

William Galvin hits MetLife with $1 million fine for failing to keep track of pensioners

December 19, 2018

Massachusetts Secretary of the Commonwealth William Galvin on Wednesday hit MetLife Inc. with a $1 million fine and ordered the insurance firm to pay restitution to retirees and beneficiaries who it failed to locate after taking over their retirement...

Retirement savings legislation dies in lame-duck Congress

December 19, 2018

Legislation that would expand the number of company-sponsored retirement plans and increase the use of annuities within them will likely die on Thursday. Proponents of the bill, which was introduced after Thanksgiving, were hoping it would be...

Annuity group says Ohio National poses risk to industry

December 18, 2018

The Insured Retirement Institute, an annuity industry trade group, said recent business decisions Ohio National Financial Services Inc. has made around its variable annuities poses a risk to the broader annuity industry. Ohio National stunned...

UBS sues Ohio National over lost variable annuity commissions

December 17, 2018

UBS has sued The Ohio National Life Insurance Co. and its subsidiaries for the insurer's new policy of ending adviser trail commissions on some variable annuity products. The wirehouse joins several other broker-dealers fighting the cessation...

Indexed annuity sales will soon eclipse those of variable annuities: Cerulli

December 12, 2018

Indexed annuities are set to overtake variable annuities in sales within the next three years, according to Cerulli Associates, continuing an ascent over the past several years that has steadily eroded variable annuities' market share. Variable...

Questions abound as Ohio National stops commission payments this week

December 11, 2018

Ohio National Financial Services Inc. is ceasing payment of advisers' variable annuity trail commissions Thursday, and advisers are left wondering how they're going to deal with the fallout. The insurer stunned the brokerage and insurance industries...

Finra exams find fault with sales of variable annuities, nontraded REITs and private placements

December 7, 2018

Variable annuities, nontraded REITs and private placements are among the primary areas in which brokerage firms and their representatives have demonstrated lax compliance, according to a new Finra report detailing recent examination findings....

Anger over Ohio National's attack on VA contracts

November 30, 2018

I am angry and appalled by Ohio National Financial Services' announcement that it will terminate the trailing commissions on existing variable annuity contracts with guaranteed income benefits. Talk about changing the rules in the middle of...

Annuity and mutual fund interests at odds over 401(k) disclosures

November 29, 2018

A fight is breaking out over retirement legislation that the U.S. Congress is trying to jam through before year's end, pitting insurance and mutual fund groups, as well as large 401(k) providers, against each other. The rancor concerns just...

Congress tries to jam through retirement legislation by year-end

November 27, 2018

Congress is making one final push to get retirement legislation passed by the end of the year, with provisions promoting more 401(k) plan formation and greater use of annuities hanging in the balance. Kevin Brady, chairman of the House Ways...

NAIFA files suit against New York for mandating best-interest insurance sales

November 26, 2018

An insurance industry trade association has gone to court to stop a New York regulation requiring insurance agents and brokers to act in the best interests of their clients when selling life insurance and annuity products. The National Association...

Variable annuity sales up 25% from this time a year ago

November 26, 2018

Third quarter sales of variable annuities were up 25% year-over-year to $25 billion, according to a Limra Secure Retirement Institute report. It's the second consecutive quarter of growth after a stretch of sales declines that stretched back...

Cetera broker-dealers latest to file legal claim against Ohio National

November 21, 2018

This story has been updated to include additional information not available when originally published. The six broker-dealers in the Cetera Financial Group network have filed arbitration claims against Ohio National Life Insurance Co. and affiliates,...

Ohio National lays off chief distribution officer; president retires after three months on the job

November 20, 2018

Ohio National Financial Services Inc. laid off its chief distribution officer, H. Douglas Cooke, at the same time that president and chief operating officer Christopher Carlson has decided to retire, three months after being promoted. The executive...

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