'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance Services, LLC.
With new management and a new business model, American Equity Investment Life hopes to climb back onto the FIA sales leaderboard. It's using the strategy that RIJ dubbed 'The Bermuda Triangle' in two stories six weeks ago.
The firm’s platform, according to the release, helps 'Americans easily locate and roll over their legacy 401k accounts… instantly locates former 401k accounts, matches users to individual retirement accounts at leading financial institutions, and initiates rollovers on their behalf.'
'Aspida’s three-pronged strategy includes executing new reinsurance contracts, pursuing opportunistic acquisitions of insurance companies and issuing new annuity and life insurance products,' an Ares Asset Management release said.
AllianzIM adds two new 'buffered ETFs'; ESG funds, now a political football, haven’t been intercepted; FIDx and Halo partner on annuity/structured product service for advisors; Schwab-TD Ameritrade integration to take 18 to 36 months; Empower in retirement plan deal with Fifth Third Bank; Pandemic raises pressure on insurers’ $1.4T in private placements; JPMorgan Chase to pay almost $1 billion in ‘spoofing’ fraud.