Results for "annuities"

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SEC draws ire with indexed annuity misstep

August 16, 2019

The Securities and Exchange Commission caused concern among the financial advice and insurance communities this week when it published an inaccurate investor bulletin about indexed annuities. The communiqué, issued Tuesday by the SEC's Office...

Insurers pivot amid declining interest rates

August 15, 2019

Interest rates have done an about-face, and insurers are feeling the pinch. Just less than a year ago, insurance companies, financial advisers and their clients were celebrating the return of higher interest rates. More money flowed into insurers'...

Fee-based annuities still require caution, despite IRS olive branch

August 14, 2019

Financial advisers who use fee-based annuities are likely celebrating after the Internal Revenue Service extended an olive branch last week, ruling favorably on how advisers can charge for annuity advice. But registered investment advisers should...

Texas 403(b) law causes adviser concern over investor protection

August 8, 2019

A Texas law taking effect next month is causing concern among some retirement plan advisers who are worried that the legislature has weakened investor protection for public schoolteachers in the state. The law — HB 2820, sponsored by Rep....

New York best interest rule for annuity, life insurance sales upheld by state court

August 5, 2019

The New York State Supreme court upheld a state regulation imposing a tougher standard on agents and brokers selling annuity and life insurance policies, on the eve of the rule taking effect. Acting Supreme Court justice Henry F. Zwack said...

Budget agreement leaves SECURE Act by wayside

July 23, 2019

When congressional leaders and President Donald J. Trump reached a budget agreement Monday, they closed it off to additional measures, including a landmark retirement-savings bill that is stalled in the Senate. Backers of the Setting Every Community...

Longevity planning will be a central mission for advisers of the future

July 22, 2019

As people live longer, healthier lives, they will need more help managing their money through retirements — which likely will last longer, too. At a recent roundtable discussion hosted by InvestmentNews on the Future of Financial Advice, many...

Adviser compensation is the challenge with fee-based annuities

July 15, 2019

Fee-based annuities are becoming more popular, but there's a thorny issue that could limit their uptake and negatively affect clients: the question of how an adviser is paid to help manage the annuity. Fee-based annuities are products meant...

Cetera, Allianz and Capital Group partner on retirement income technology

July 10, 2019

Cetera, Allianz and Capital Group are collaborating on a new retirement income tool the companies say will help advisers generate a reliable source of retirement income that lasts the rest of a client's life. The tool, SetIncome, is exclusively...

Judge rejects Ohio National motion to throw out case involving variable annuity commissions

July 1, 2019

A broker of LPL Financial Inc. has won an important round of legal sparring with Ohio National Life Insurance Co., with a judge ruling that the broker's class-action lawsuit over variable annuity trail commissions should move forward. U.S. magistrate...

TIAA exits the life insurance business

June 26, 2019

TIAA, one of the largest U.S. life insurers, is exiting the life insurance business, ceasing the manufacture and distribution of its products by the end of the year. The firm's annuity business will continue and be unaffected by the change,...

Lessons for those 'graduating' to retirement

June 13, 2019

To those newly retired, I offer my congratulations. Those of us who provide financial guidance to this growing segment of consumers know that this is a critical time and a major transition in the lives of people who have worked hard throughout...

Indexed annuity illustrations are hurting consumers: group

June 5, 2019

An investor advocacy group took a shot at indexed-annuity illustrations — the primary sales tool used to sell insurance products — and said that current rules around illustrations are too flimsy, allowing insurers to use them in a way that...

Some insurance agents breaking law with 401(k) rollovers

May 30, 2019

Rolling money out of a 401(k) plan to fund an insurance product, like an annuity or life insurance policy, can be a difficult, tense decision for retirees. After all, seniors are earmarking a large chunk of their nest egg. These rollovers are...

How to battle sequence-of-returns risk

May 25, 2019

There were two recurring themes at the annual InvestmentNews​ Retirement Income Summit in Chicago earlier this month: the economic impact of increased longevity and the need for guaranteed income in retirement. Retirement has traditionally...

House passes SECURE retirement bill with massive bipartisan support

May 23, 2019

The House of Representatives passed a sweeping retirement bill Thursday that makes it easier for small businesses to offer a workplace retirement plan, eases use of annuities in 401(k)s and raises the required minimum distribution age, among...

Variable annuities lose more ground to fixed annuities

May 21, 2019

Variable annuity sales continued their downward spiral last quarter on the back of volatile equity markets, losing yet more ground to fixed annuities. VA sales of $22.8 billion in the first quarter were down 7% from the year prior, according...

Edward Jones doesn't sell indexed annuities, bucking broker-dealer trend

May 6, 2019

Edward Jones has taken a contrarian stance on indexed annuities, declining to allow its brokers to sell the annuity products even though its peers are doing so and the products are increasingly popular industrywide. The St. Louis-based brokerage,...

Insurance lobby plans blitz to get retirement bills through Congress quickly

April 24, 2019

Insurance trade associations are set to launch a campaign to gain approval for retirement-savings bills by August to ensure they don't stall again as attention turns to the 2020 election. The American Council of Life Insurers is coordinating...

The drawback of Richard Thaler's 401(k)-Social Security idea? Social Security itself

April 22, 2019

Nobel laureate Richard Thaler's idea to increase retirees' Social Security payments by using a portion of their 401(k) accounts is drawing criticism from some corners of the financial-advice industry, primarily due to the current less-than-stellar...

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