The Department of Labor’s proposed fiduciary standard for financial professionals who are compensated for providing retirement savings advice would leave many small-business employees unable to save for retirement, writes Rep. Earl “Buddy” Carter, R-Ga. “By far the scariest consequence of the DOL regulation is how it would curtail access…
Sales of long-term-care insurance policies dropped last year, but those of life combination products have experienced double-digit increases in the past five years, said Catherine Ho, a LIMRA product actuary. “Combination products allow less financially stable people to purchase long-term coverage,” said Samantha Chow of the Aite Group. “It’s a…
Richard Murphy is among those who says the Labor Department’s proposed fiduciary standard may push him out of the advisory business. “It’s a complication that I don’t need,” Murphy said. The industry has been tainted by a few bad actors, he said. InsuranceNewsNet online (8/7)
Changes to rules affecting retirement investing and income are a common annual occurrence. Some that savers might have overlooked include new income and contribution limits for various products and changes to how income affects Social Security benefits, Jason Hall writes. The Motley Fool (8/9)
The amount of time the Securities and Exchange Commission has available to pursue civil damages for fraud would be doubled to 10 years from five under a bill introduced by Sen. Jack Reed, D-R.I. The proposal is in response to a U.S. Supreme Court decision that the current five-year limit…
More advisory practices are bent on helping their clients avoid online fraud, in part by holding more educational events. “Our role is to be trusted advisers, and that’s historically been around financial planning. But now it’s also about helping them protect their financial assets from criminal activity,” said Todd Douds…
The Department of Labor’s Employee Benefits Security Administration will provide a live webcast of the conflict-of-interest Proposal public hearing, scheduled for Aug. 10 to 13. NAIFA President Juli McNeely and her client will testify at 4:15 p.m. Aug. 11. Read more on the NAIFA Blog.
According to a survey released by the Consumer Federation of America and Unum, employers understand the value of long-term-disability insurance for their employees. And those who offer it believe it serves the interests of their company. Employers not offering LTD are more likely to overestimate its cost, underestimate employees’ desire…
Advisers should consider many factors, not just cash, when moving to a different firm, writes Jodie Papike, a recruiting firm executive. “[T]he happiest and most satisfied are those who choose a broker-dealer based on the balance between culture, fit and needs for their specific practice,” Papike writes. InvestmentNews (free registration)…
Indexed products, especially indexed universal life, have become very popular. Listen to NAIFA educational workshop presenter Randy Kemnitz talk about his upcoming workshop that will take place at the 2015 NAIFA Conference in New Orleans. Visit the NAIFA Conference website to access all of the educational workshops that will be…
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