Results for "variable annuities"

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Variable annuity sales up big among independent broker-dealers

April 19, 2019

Independent broker-dealers saw big growth in their sales of variable annuities last year, even as other distribution channels such as the wirehouses and other large national brokerage houses saw sales stay flat or decline. The boost appears...

Indexed annuity sales projected to grow nearly 40% by 2023

April 5, 2019

Indexed annuities, fresh off a record sales year, are poised for substantial growth over the next four years, according to projections from Limra, an insurance industry group that expects the stock market to remain volatile and interest rates...

Jackson National loses top annuity sales spot to AIG

March 26, 2019

Jackson National Life Insurance Co. ceded its six-year reign atop the annuity sales leaderboard to American International Group Inc. last year, as AIG rode a wave of strong fixed and indexed annuity sales to overtake the former No. 1. AIG sold...

Finra disciplinary actions packed $107,000 average punch in 2018

March 4, 2019

Although it brought 638 disciplinary actions last year compared with 1,007 in 2017, the Financial Industry Regulatory Authority Inc.'s fines bit deeper, averaging $107,000 per case, up from $65,000 the year before, according to analysis of Finra's...

Insurers create pain points for advisers and clients

February 21, 2019

The insurance industry hasn't done itself any favors when it comes to earning the trust of financial advisers and their clients. Insurers have repeatedly frustrated these stakeholders by making business decisions that are seemingly contrary...

Fixed annuity sales smash previous record

February 20, 2019

Annual sales of fixed annuities broke a record in 2018, as investors retreated from a volatile stock market and were lured by the larger payouts created by rising interest rates. Fixed annuity sales hit $132 billion last year, a 25% jump from...

Ohio National extends variable annuity buyout offer

February 20, 2019

Ohio National Life Insurance Co. is extending by about a month a buyout offer it made on some of its variable annuity products. The insurer last year gave owners of ONcore variable annuities with a guaranteed minimum income benefit rider the...

Cetera, other broker-dealers refuse to sign Ohio National contracts

February 15, 2019

A handful of broker-dealers, including Cetera Financial Group and NEXT Financial Group, have rebuffed Ohio National Financial Services Inc. by refusing to sign new agreements with the insurer, the latest twist in an ongoing dispute over variable...

LPL reacts to Ohio National 'violation of trust' by renegotiating VA contracts

January 24, 2019

LPL Financial, the country's largest independent broker-dealer, has renegotiated its contracts with all of its variable annuity partners in the wake of Ohio National Financial Services Inc.'s surprise announcement that it would no longer pay...

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...

Royal Alliance charged with failure to supervise variable annuity sales

January 22, 2019

Massachusetts securities regulators have charged Royal Alliance Associates with failure to supervise a broker who recommended unsuitable investments to a couple, which ultimately cost the investors nearly $60,000. The broker, Stephen F. Davis...

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...

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....

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