Securities and Exchange Commission acting Chairman Michael Piwowar did not call for an SEC fiduciary rule in his first major address. However, the commission could change its messaging after a permanent chairman is confirmed and other posts are filled. InvestmentNews (tiered subscription model) (2/27)
Before the financial crisis, 41% of middle-income baby boomers thought they were prepared for retirement, but that figure has since fallen to 31%, a survey from Bankers Life found. Scott Goldberg, president of Bankers Life, said this lack of confidence about retirement is an opportunity for advisers. ThinkAdvisor (2/27)
Insurance companies and independent marketing organizations have provided comments to the Labor Department to explain their views on changes to contract terms after fixed-indexed annuities are issued. The department has proposed a fiduciary-rule exemption for IMO sales of commission-based FIAs, and the comments arrived in response to that proposal. InsuranceNewsNet…
Interest-rate hikes are essential to keeping the US economy healthy and on track, regardless of what taxation and spending policies are enacted by the Trump administration, Federal Reserve Chair Janet Yellen told senators. It is the economy's "solid progress" that is "driving our policy decisions," she said. The Wall Street…
The Brokers Central VIVA 2017 incentive is your ticket to any U.S. destination of your choice when 2017 qualifying target premium reaches $135,000. Your award trip includes two airline tickets, hotel accommodations, meals for two, and a car rental for five days. For $195,000 in qualified target premium, we’ll extend…
Fred Andersen, chief life actuary at the Minnesota Commerce Department, has developed a list of five factors for regulators to consider when evaluating requested rate increases for long-term-care insurance. Those factors include the findings of new morbidity studies, "shrinking" older blocks of LTC insurance, and the effects that long-term projections…
Sen. Elizabeth Warren, D-Mass., sent Andrew Puzder, who has been nominated by President Donald Trump to be labor secretary, a 28-page letter questioning how he would evaluate the agency's fiduciary rule. Trump has ordered the Labor Department to propose a rule "rescinding or revising" the fiduciary rule. InvestmentNews (tiered subscription…
US stocks are hitting record highs in anticipation of regulatory rollbacks under the Trump administration. Protectionist policies, however, still pose a risk to international trade and could contribute to volatility, especially as the EU and the UK navigate their own political issues, writes Michael McDonough of Bloomberg Intelligence. Bloomberg Professional…
At the recent Heckerling Institute on Estate Planning conference in Orlando, Fla., financial advisers expressed concern over uncertainty in estate planning under the Trump administration and the policies it will adopt, writes Kevin Matz. The possibility and consequences of a potential estate-tax repeal led to no clear consensus, although Matz…
How often does the entire life insurance industry get behind a common marketing effort and freely share campaign ideas and collateral? Just twice a year, and NOW is one of those times. The Life Happens non-profit organization, along with carriers and other industry organizations, develops and shares two life insurance…
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