'Zero is the hero' in fixed index annuities, which offer upside without risk of loss. In this first article of a four-part series on FIAs, presented by Retirement Income Journal and Wink, Inc., RIJ analyzes Wink's first-quarter 2019 sales data to establish an overview of the fast-growing index annuity industry.
Although there will be no higher standard of conduct for advice on tax-deferred retirement accounts—the essence of the Obama DOL fiduciary rule—the new 'Regulation Best Interest' will apply to rollover recommendations.
'On a nominal basis 81% of GLWB exposure is in-the-money, whereas on an actuarial basis only 11% is in-the-money,' writes Ruark CEO Timothy Paris. (It's complicated.)
Bank of America offers new hybrid advice model; Fidelity adds 150 new ETFs to its no-load ETF supermarket; Pacific Life taps Salesforce for CRM services; RetireUp can now model Great American annuities; Dynamic Wealth Advisors to use RetireOne’s RIA insurance platform; Lincoln to expand broker education, use Goldman Sachs securities lending service.
“You can write this concept out on a cocktail napkin, and ask someone, ‘Are you comfortable with half the downside and more of the upside?’," said Thomas Layton, vice president of product management for Raymond James, who first proposed the new Great American Life contract.
'This is the fourth acquisition completed since Protective became part of Dai-ichi in 2015. Dai-ichi considers Protective to be its North American growth platform and continues to aim for further expansion in the region,' a Protective release said.
Net income in the first quarter of 2019 rose sharply over the prior-year period, to $14.9 billion from $3.2 billion, due mainly to a significant decline in total expenses, according to A.M. Best, the ratings agency.