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DOL Fiduciary News: July 15, 2016

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Insurers developing fee-based fixed-indexed annuities post-DOL fiduciary rule

InvestmentNews; July 14, 2016

Insurance companies are going full steam ahead developing fee-based fixed-indexed annuities due to greater anticipated demand from distributors for advisory products as a result of the Labor Department's fiduciary rule.

Allianz Life Insurance Co. of North America, Voya Financial Inc., Symetra Life Insurance Co. and Lincoln Financial Group executives confirmed to InvestmentNews they are currently working to develop such products, some of which could hit the market by the end of the year.
(http://www.investmentnews.com)

Off the Grid [DOL compensation impacts]

Retirement Income Journal; Wed, July 13, 2016

Incentives matter. Compensation shapes behavior and vice-versa. And, where retirement accounts are involved, the compensation system that banks and brokerages have used for decades to pay advisors could change dramatically because of the DOL fiduciary rule, which begins to kick in next year. (http://retirementincomejournal.com)

Lincoln: Commissions Can Be Best Deal for Consumers

InsuranceNewsNet; July 14, 2016

Is it in the best interest of a mutual fund investor to pay a broker a 1 percent annual fee on invested assets of $100,000 in a retirement account?

Or is a 4.5 percent up front commission and .25 percent annual trail commission on $100,000 variable annuity with a lifetime income rider in the best interest of the client?

For annuitants in a variable annuity held for 30 years or more — which would be the case if annuitants don’t want to outlive their income — the upfront commission model is by far the better deal as far as annuity contract holders are concerned.
(https://insurancenewsnet.com) 

BlackRock's Fink: Mutual fund liquidity, fiduciary rules ultimately good for asset managers

SNL.com; Thursday, July 14, 2016 11:15 AM ET

There's a silver lining to the Department of Labor's fiduciary rule and other regulatory actions: increased investor confidence.

Trillions of dollars in assets sitting in bank accounts ought to be put to work as investments, BlackRock Inc. Chairman and CEO Larry Fink told analysts and investors on an earnings call. The size of those cash deposits is evidence that retail investors have low confidence in financial markets and investment managers, he said.
(http://www.snl.com)

CUs Well-Positioned to Adapt to Fiduciary Rule: Study 

Credit Union Times; July 13, 2016

Credit union financial advisers may be better positioned than others to adapt to the Department of Labor’s controversial fiduciary standard for qualified retirement accounts, according to a study released by Kehrer Bielan Research & Consulting on Wednesday

The new rules will push advisers working in financial institutions to move from primarily transaction business to all advisory business. Congress passed a joint resolution that would have disapproved of the rules, but President Obama vetoed the resolution and Congress failed to override it
(http://www.cutimes.com)

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