Facing large losses on their Affordable Care Act business and not getting any help from the government's risk corridor program, many insurers are cutting the commissions they pay to agents who sell ACA policies. InsuranceNewsNet online (2/11
At Fidelity Investments, clients aren't panicking. In fact, many are buying more stocks, according to John Sweeney of Fidelity. "People are taking advantage of some of the choppiness in the market," he said. CNBC (2/11)
Adviser Joe O'Boyle recounts how a client asked him if he could retire as well as leave a financial legacy for his family. O'Boyle shares how they "worked backwards to create a plan designed to help him reach his goals." U.S. News & World Report (2/11)
MetLife is set to challenge its designation as a systemically important financial institution in federal court, arguing that insurers don't face massive client withdrawals as banks do. The case will be the first test of the Financial Stability Oversight Council, created by the Dodd-Frank Act, and will be watched by…
Generation X surpasses other age groups in investable assets, yet seems to get less attention from financial and insurance advisers, a Weber Shandwick study finds. A 2014 Shullman Research Center study found that more than 4 million members of Generation X have $1 million or more in investable assets. They…
Vincent Molinari writes that we're "witnessing the convergence of technology, social media, and financial services — in short, complete disruption of the investing industry." He adds that millennial investors are "keen on apps that simplify the process and make them money." WealthManagement.com (U.S.) (2/5)
Consumers increasingly want one-stop shopping, which means insurance agencies must grow and diversify their product mix, writes John Sarich of VUE Software. The agency of the future will combine health, life and other types of insurance sales under one roof along with employee benefits and retirement planning, Sarich writes. LifeHealthPro…
InsuranceNewsNet magazine recently polled its readers and found a strong correlation between career success and NAIFA membership. … These results confirm several previous studies that have shown NAIFA members tend to earn more than their non-member colleagues," writes NAIFA CEO Kevin Mayeux. Read more at the Advisor Today Blog.
Financial professionals may need to step in and help clients reaching 70 because US tax rules force them to make what could be difficult decisions soon. The IRS' required minimum distribution for qualified retirement accounts takes effect at 70½, and penalties for failing to comply are significant. Financial Advisor online…
The second phase of the Actuarial Guideline 49 from the National Association of Insurance Commissioners will go into effect in March. The upcoming phase will address standards regarding policy-loan illustrations for indexed universal life insurance products. Experts say the guidelines reinforce why advisers should avoid depending completely on illustrations when…
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