Results for "variable annuities"

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After Ohio National decision, the fine print of annuity trails is now a must-read

October 13, 2018

It's still a fresh sting, hearing that Ohio National Financial Services Inc. plans to terminate servicing agreements and cut off trail commissions to broker-dealers that sell some of its variable annuities. Can they really do this, some B-Ds...

In cases that could tarnish a broker's reputation, Finra must do better

October 9, 2018

In a court of law, the accused has the right to face the witnesses testifying against him. The details of a recent Financial Industry Regulatory Authority Inc. enforcement action show how far removed from a court of law such actions are taken,...

Ohio National to end brokerage arrangements, eliminate adviser compensation on variable annuities

October 2, 2018

In what is believed to be a first-of-its-kind move among insurers, Ohio National Financial Services Inc. has informed broker-dealers that sell its variable annuities that it will terminate servicing agreements and cut off trail commissions by...

Indexed annuity sales grow among wirehouses, independent broker-dealers

September 20, 2018

Wirehouses and independent broker-dealers have upped their sales of indexed annuities over the past few years, with a greater share of product sales coming through registered representatives at brokerage firms. There are a number of reasons...

Fixed annuities are on a tear

September 14, 2018

Fixed annuities have been on a tear this year, with sales seeing double-digit growth across several product categories amid rising interest rates and easing regulatory pressure. Overall sales of individual fixed annuities were $33.7 billion...

Merrill Lynch takes two avenues with annuity commissions

September 10, 2018

When Merrill Lynch recently decided to reverse its ban on commissions in individual retirement accounts, it did so for all products with one exception: annuities. The policy effectively creates a dual approach for Merrill's 17,000-plus advisers...

Finra fines Securities America $175,000 for failure to supervise variable annuity sales

September 7, 2018

The Financial Industry Regulatory Authority Inc. fined Securities America $175,000 for failing to properly oversee the sale of a certain type of short-term variable annuity product. According to Finra, Securities America brokers violated or...

Ohio National, a big variable annuity provider, exits the annuity business

September 7, 2018

Ohio National Financial Services Inc., among the top 20 sellers of variable annuities, is quitting the annuity business and is simultaneously laying off 300 employees, signaling the challenges of the variable annuity market in recent years....

Structured ETFs offer fresh twist on popular variable annuity strategy

September 6, 2018

There's nothing quite like the month of September to remind investors and financial advisers that the financial markets are fraught with risks, which is the kind of mindset that Innovator Capital Management is banking on with its new suite of...

Ken Fisher, famous annuity hater, invested in annuity companies

August 31, 2018

Ken Fisher, founder and executive chairman of Fisher Investments, has been an ardent critic of annuities for years. In fact, Mr. Fisher's vitriol toward annuities is probably one of his most identifiable characteristics in the public sphere....

New group aims to improve negative view of annuities

August 23, 2018

A new group is trying to reframe how advisers, their clients and the broader public view annuity products. Two dozen insurance companies and mutual fund firms coalesced to form The Alliance for Lifetime Income, seeking to bolster an industry...

Why your 50-year-old clients may need you the most

August 22, 2018

Clients who are 10 to 15 years away from retirement need you. They're likely getting more concerned about market volatility and its impact on their savings, but at the same time they're more aware than ever that they need their nest egg to grow...

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...

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...

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...

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....

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...

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