"When I came into the business 35 years ago, my manager insisted that I join NALU (National Association of Life Underwriters, now NAIFA) and contribute to LUPAC (Life Underwriters Political Action Committee, now IFAPAC)," writes John C. Johns, LUTCF, 2015-16 national chair of the NAIFA Committee on Political Action. "For…
A growing market for retiring baby boomers means that selling Medicare supplements and Medicare Advantage products can be a good way for advisers to increase their business, writes Kim Magdalein of SeminarsForLess.com. Sales of such products can be worth the great deal of work they require, Magdalein writes. LifeHealthPro (2/1)
The sale of American International Group's broker-dealer unit to Lightyear Capital and PSP Investments was prompted in part by the Labor Department's fiduciary proposal, AIG CEO Peter Hancock said. Compliance costs could lead other independent broker-dealers to follow suit, executives say. InvestmentNews (1/29)
For the first time, fees account for more advisory revenue than commissions, according to research from CLS Investments. The trend will continue, it says. Advisors are likely to derive more than 55% of their revenues from fees in the coming years, the research notes. ThinkAdvisor (1/29)
Many young, healthy adults believe they do not need health insurance, and some are comparing the price of a tax penalty for remaining uninsured against the costs of health insurance premiums. But the penalty is rising, and households that remain uninsured and do not qualify for an exemption from the…
Behavioral-finance studies reveal that people who are confused put off making decisions. LIMRA's research has shown that this is particularly true for people shopping for life insurance. To give you an idea of how important effective communication is, consider a LIMRA/Maddock Douglas report that found there are 19 million "stuck"…
Agent Review has introduced a platform to let people find insurance agents in their ZIP code and view biographies and customer testimonials. CEO Jonas Roeser says the app is an educational resource and a "credibility-building service for agents." LifeHealthPro (1/26)
"NAIFA's emphasis on advocacy aims to keep our members in business by promoting positive legislative and regulatory outcomes," writes NAIFA CEO Kevin Mayeux. "Often, this involves opposing laws or regulations, such as the current draft of the Department of Labor's 'best interests' rule proposal, which would harm advisors and their…
The Congressional Budget Office has greatly reduced its forecast of how many people will get health insurance through the Affordable Care Act's exchanges this year. The new estimate is about 13 million people, down about 40% from an earlier estimate. The New York Times (free-article access for SmartBrief readers) (1/25)
PayPal CEO Dan Shulman said at the World Economic Forum in Davos, Switzerland, that he expects a worldwide transformation of financial services, driven by a digitisation of money, a mass migration to mobile, a growing mountain of data, a blurring of industry boundaries and a focus on security. Shulman expects…
Main office
BROOKLYN OFFICE
Copyright © 2023 BrokersCentral. All Rights Reserved.
