The president of Prudential Annuities since 2017, actuary Kent Sluyter spoke with RIJ recently about financial wellness and about his firm's pivot to a new generation of individual annuities.
'The fees deducts from the contract’s cash value and remits to the advisor will not be treated as an "amount received" by the owner of the contract,' the IRS told several life insurers in separate Private Letter Rulings.
Investments & Wealth Institute members are nearly twice as likely to report operating in a primarily fee-based practice relative to the industry average (62% vs. 38%, respectively). By 2020, members expect brokerage assets to make up just 10% of their client assets.
For advisors who sell annuities, market tremors are known to stimulate business. After a bit of volatility, older investors in particular show more interest in taking profits out of the market and parking them somewhere safe.
Nationwide digitizes, customizes annuity client kits; Envestnet sued by software vendor; Ascensus acquires ‘prevailing wage’ benefits specialist.