DOL Fiduciary News: February 21, 2017
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Here Come the Fee-Based Indexed Annuities
InsuranceNewsNet; February 20, 2017
With less than two months to go before new fiduciary standards take effect, insurers have lined up new fee-based fixed indexed annuities for independent marketing organizations and their advisors to sell.
Insurance companies say they want to be prepared for the Department of Labor’s fiduciary rule, which is designed to steer distributors away from commission-based sales.
But independent agents and advisors, who have sold billions of dollars’ worth of fixed indexed annuities in the past 10 years, rarely get excited about fee-based annuities.