Results for "variable annuities"
Displaying 481 results
AXA reverses course on variable annuity buyout
April 16, 2018
AXA Equitable Life Insurance Co. is no longer proceeding with a variable-annuity buyout round that it had planned to do beginning in May. "AXA has decided to not move forward with the buyout program at this time," AXA said in an email it sent...
Insurers still grappling with costly variable-annuity promises
April 13, 2018
Insurance companies are still trying to wriggle out of promises made years ago to consumers of their variable-annuity products, as certain contract features have proven too generous in light of market conditions such as persistently low interest...
Finra fines Park Avenue Securities $300,000 over variable annuity sales
April 11, 2018
The Financial Industry Regulatory Authority Inc. has censured Park Avenue Securities and fined the firm $300,000 for problems in its supervision of variable annuity sales. In a letter of acceptance, waiver and consent, Finra said that from Jan....
Finra institutes disciplinary proceedings against broker over alleged improper variable annuity sales
April 3, 2018
The Financial Industry Regulatory Authority Inc. has instituted disciplinary proceedings against Frederick David Holloway, the owner of Holloway & Associates Inc., to disgorge alleged ill-gotten gains from recommendations he made to clients...
Have variable annuities sales hit rock bottom?
March 31, 2018
Sales of variable annuities are in the tank. Product sales have slid for the past six consecutive years, and 2017 sales (roughly $96 billion) were the lowest in two decades. Will variable annuities recover from the slump, or has their heyday...
Are annuities finally getting some respect?
March 31, 2018
For years, financial advisers have had a love-hate relationship with annuities. The financial products, which offer a guaranteed stream of income, have long been maligned by some financial advisers and the broader public as being costly, confusing...
Here's how the top indexed, variable annuity sellers did last year
March 22, 2018
Indexed annuities' decade-long joy ride came to an end last year. The products saw their first year-over-year sales decline since 2007, dipping 5.4% to $57.6 billion, according to the LIMRA Secure Retirement Institute. Eleven of the top 15 insurance...
DOL fiduciary rule: 5th Circuit decision could be big win for indexed annuities
March 21, 2018
Indexed annuities — and the intermediaries that sell them — appear to be the biggest benefactors of an appellate court's decision last week to vacate the Department of Labor fiduciary rule. While observers are divided on the ruling's implications,...
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%...
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....
Minnesota rep barred for no-show over VA trades
February 8, 2018
The Financial Industry Regulatory Authority Inc. has barred former Minnesota broker Brett Ashy for failing to take part in an investigation looking into his sales of variable annuities. Mr. Ashy was terminated as a broker in February 2016 by...
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...
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...
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"...
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...
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...
Finra fines Horner Townsend & Kent $275,000 over VA sales
November 15, 2017
The Financial Industry Regulatory Authority censured Horner Townsend & Kent and fined the Horsham, Penn.-based firm $275,000 for failure supervise its brokers' sales of variable annuities. Specifically, Finra said that the firm had not adequately...
Finra fines Ameritas $180,000 over VA sales
November 9, 2017
The Financial Industry Regulatory Authority has censured and fined Ameritas Investment Corp. $180,000 for lapses in the supervision of variable annuity sales. In a letter of acceptance, waiver and consent, Finra said that between September 2013...
DOL fiduciary rule delay boosts prospects for annuity sales
October 12, 2017
A proposed delay to the Department of Labor's fiduciary rule is leading to big increases in annuity sales projections next year. The regulation, which raises investment-advice standards in retirement accounts, was expected to put a severe dent...
Finra orders Morgan Stanley to return $200,000 in variable annuity sale
October 11, 2017
In a continuing focus on improper sales of variable annuities, a Finra arbitrator has ordered Morgan Stanley to rescind a client's variable annuity and return her $200,000 investment. While the arbitrator denied the request of client Jacqueline...
