Last week's U.S. Supreme Court decision to allow individual participants to sue 401(k) plan administrators will put further pressure on financial advisers to ensure that they are adhering to their fiduciary status, industry observers say.
Managed accounts aren't popular default options in 401(k) plans, because fees are too high for plan executives to justify, leaving them concerned about fulfilling their fiduciary responsibility, experts say.
Insurers are stepping up their wholesaler education efforts to help advisers prepare for tougher suitability rules involving the sale of variable annuities.
Aware of the appeal of variable annuity riders, carriers plan to strengthen their offerings while attempting to meet financial advisers' calls for simplicity.
As Wisconsin's insurance commissioner and vice chairman of the Life Insurance and Annuities (A) Committee of the Kansas City, Mo.-based National Association of Insurance Commissioners, Sean Dilweg is focusing on suitability, wholesaler training and curbing VA abuse.
Portfolio volatility and the sequence in which returns are realized play a unique role in portfolios subject to regular retirement withdrawals.
While industry experts and broker-dealers are working to simplify variable annuity processing and cut down on paperwork electronically, software vendors are trying to help advisers easily compare products to comply with suitability requirements.
While target marketing usually means targeting a specific audience, sometimes a product target also can bring success.
The two were among a group of ex-Marsh executives who were charged in a criminal indictment in September 2005.
MBIA has pulled away from the Association of Financial Guaranty Insurers, saying it no longer shared the trade association’s views.
Ex -AIG CEO Maurice R. Greenberg will get court-ordered access to legal documents that could help him fight fraud charges, according to published reports.
The New York State Insurance Department also reproached the plan, arguing that it would be “bad for the banks.”
The all-in-one rider provides an income step-up to 200% of the initial guaranteed amount 10 years into the policy.
The Charlotte, N.C.-based bank collected $483 million in annuity fees, or 0.06% of $782.8 billion in assets.
The <a href=/assets/docs/CI39631220.PDF>assessment</a> details areas where reciprocity and uniformity initiatives must improve in U.S. states.
Warren Buffett faced is facing criticism after Moody’s Investors Service — in which he is the largest stakeholder —told bond insurers to accept a bailout.
Today’s Supreme Court decision will impact 50 million workers with $2.7 trillion invested in 401(k) plans.
Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities.
Officials have testified that the time is right for a federal insurance regulator.
Defined contribution record-kept assets at Fidelity Investments grew 8% last year.
