Wednesday, October 26, 2016

18 Insurance Marketers Apply For DOL Exemption

18 Insurance Marketers Apply For DOL Exemption
By Cyril Tuohy

(InsuranceNewsNet)

Suitability Does Not Have to Be Scary

By James Morris, Suitability Specialist

In the spirit of the Halloween holiday, I would like to discuss something that some people find scary, but which doesn’t have to be: fixed index annuity (FIA) suitability. I have many conversations with agents concerning suitability for potential, pending, and declined FIA business. As you know, annuities are long-term products that are highly regulated. For that reason, among others, insurance carriers have created suitability programs and guidelines with a goal of protecting and educating both the producer and customer for current and future annuity business. Though not always popular, the guidelines do not have to strike fear into the heart of your client meetings.

First set of FAQs on fiduciary rule coming 'very soon,' but deadline extension 'not likely': DOL's Borzi

First set of FAQs on fiduciary rule coming 'very soon,' but deadline extension 'not likely': DOL's Borzi
By Greg Iacurci

(InvestmentNews

Social Security checks get measly $3.92 bump in 2017

Social Security checks get measly $3.92 bump in 2017
By Chris Isidore

(CNN Money)

Live from LIMRA: Tackling the DOL rule

Live from LIMRA: Tackling the DOL rule
By Emily Holbrook

(LifeHealthPro)

China Oceanwide agrees to pay $2.7 billion for Genworth

China Oceanwide agrees to pay $2.7 billion for Genworth
By Allison Bell

(LifeHealthPro)

Wednesday, October 19, 2016

Dos and Don’ts of Seminar Selling Under DOL Rule

Dos and Don’ts of Seminar Selling Under DOL Rule
By John Hilton

(InsuranceNewsNet)

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Prior to participating in any marketing campaigns/programs/Social Media, producers should follow the approval requirements of their state(s), carriers they represent, and their broker/dealer and registered investment adviser, if applicable.
 

Relationships Are Key in 2016

By Dina Mestel, Sales Trainer

There are many external elements affecting our industry today: market volatility, low interest rate environment, and of course the Department of Labor rule, to name a few. Market volatility remains on our clients’ short list of concerns. The Dow Jones Industrial Average has reached all-time highs in 2016, which is a great thing, but our memory of the 2008 correction continues to make clients concerned for what may come. In addition, no one ever expected the interest rate environment to continue at this historically low level for as long as it has. Finally, with the DOL fiduciary rule, the landscape of our industry is changing. We still do not have all the details on how it will change, but we do know that it will not be business as usual for many.
 

Make the most of 2016. 

Advisor designations: What does 'certified' really mean?

Advisor designations: What does 'certified' really mean?
Deborah Nason

(CNBC)

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Prior to participating in any new designation or certification program, producers should follow the approval requirements of their state(s), carriers they represent, and their broker/dealer and registered investment adviser, if applicable as the approval of designations/certifications vary greatly.
 

DOL: Fiduciary Rule May Lead To Fewer Annuity Recommendations

DOL: Fiduciary Rule May Lead To Fewer Annuity Recommendations
By John Hilton

(InsuranceNewsNet)

All Aboard with E-Apps – The Time is Now!

By Meghan Eiler, New Business Coordinator

No, we are not mind readers or fortune tellers here at Ann Arbor Annuity Exchange, but it is safe to say that our previous prediction of an “electronic application boom” in our industry has proved to be accurate! A few months ago I wrote an article titled “Jump on Board” that highlighted the push toward e-application processes on the part of various carriers on various lines of business. I spoke of the upcoming drive to go paperless and attempted to give a heads-up to the “wave of the future” that would affect how we do business.

Thursday, October 13, 2016

10 Money Moves to Make Before the Leaves Change

10 Money Moves to Make Before the Leaves Change
By Mikey Rox

(Wise Bread)

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Fixed Index Annuities are insurance products designed to meet long-term needs for retirement income, and they provide guarantees against the loss of principal and credited interest, and offer the reassurance of a death benefit for noted beneficiaries. For information on how different types of annuities work, including benefits, fees, terms and limitations, please contact your financial professional.

Avoid Delays: Get Your Clients Life Insurance Before 2017

By Matt Kaas, Life Marketing Consultant

It is that time of the year again: the air is starting to get brisk, the leaves are beginning to change colors, and our weekends are ruled by football. Unfortunately for the financial professional, it means that you are quickly running out of time if you plan on getting your clients’ life insurance coverage issued and in force before the end of the year.

Thrivent suit against DOL pits ERISA vs. Federal Arbitration Act

Thrivent suit against DOL pits ERISA vs. Federal Arbitration Act
By Nick Thornton

(BenefitsPro)

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Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.

Who Will Sign Your BIC?

By Nick Bates, Vice President of Annuity Sales

One of the critical unresolved questions raised by the Department of Labor (DOL) fiduciary rule is how the industry will handle the Best Interest Contract (BIC) for qualified fixed index annuity sales. In a nutshell, the BIC is a contract between a Financial Institution (FI) and the client that, among other things, will allow producers to qualify under an exemption to receive commission-based compensation tied to qualified business after the DOL rule goes into effect in April 2017. There are many considerations in the contract that will have to be satisfied, but it does at least enable the producer to continue receiving commissions.

Attrition fears play into broker-dealers' hesitation to detail new commission schedules under DOL fiduciary rule

Attrition fears play into broker-dealers' hesitation to detail new commission schedules under DOL fiduciary rule
By Greg Iacurci

(InvestmentNews)

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Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.

Thursday, October 06, 2016

DOL Fiduciary Rule Is on the Docket

DOL Fiduciary Rule Is on the Docket
By Melanie Waddell

(ThinkAdvisor)

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Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.

IRI study: Lifetime income providing financial security for retirees

IRI study: Lifetime income providing financial security for retirees
By Kristen Beckman

(LifeHealthPro)

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Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.

Even the Lone Ranger Had a Trusted Ally



I once heard the aphorism, “If you try to be good at everything, you will be great at nothing.” I am sure that if you are reading this, you not only have great taste in literature, but you must care about your business. You care so much that you never want to give wrong information or miss an opportunity for a better product solution. You want to get your client what they need and try to stay between the ever-changing bounds of regulation. With the insurance and financial industry evolving at a breakneck pace, how will you ever manage to stay on top of all the changes in regulations and products? The answer is, you won’t – at least not alone.

Like It or Not, Change Is a-Comin’

By Heath Waddington, Senior Vice President of Sales & Marketing

In April of this year the Department of Labor (DOL) released their long-awaited “fiduciary rule”, and as a result, it seems likely that the financial services industry will be required to make significant changes in order to comply.
 

Assuming that the rule goes through as written, my last sentence will be an understatement. By imposing the burden of acting as a fiduciary on all monies associated with a qualified account or accounts impacted by the rule, the DOL will now require anyone making a recommendation on such monies to put the best interest of their client before their own interests in a specifically documented manner. While most financial professionals want to do what is in the best interest of their clients, the new processes that will need to be in place no later than April 17, 2017, will require huge investments of labor and capital.

‘Rolling’ DOL Fiduciary Guidance Begins in Fall: DOL’s Hauser

‘Rolling’ DOL Fiduciary Guidance Begins in Fall: DOL’s Hauser
By Melanie Waddell

(ThinkAdvisor)

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Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.

7 Answers About the DOL Rule You Won’t Hear Anywhere Else, From Anyone Else

By Van A. Lumbard, President

We cannot repeat ourselves often enough: DOL preparedness needs to be a priority for all financial services professionals. That time is now, not come April 2017. We encourage you to seek and find those relationships that you can trust to be there for your business going forward and offer you the best-suited resources for your business model. We believe that Ann Arbor Annuity Exchange can be that relationship for you.

AAAE president Van Lumbard tackles seven of the most pressing topics we want you to know about the DOL fiduciary rule, and what we’re focusing on to help ensure your future success.

ReminderMedia Lands on the Inc. Magazine List of America’s Fastest-Growing Private Companies

ReminderMedia Lands on the Inc. Magazine List of America’s Fastest-Growing Private Companies    
(ReminderMedia)

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Ann Arbor Annuity Exchange is not affiliated with the Reminder Media. Although we may promote and/or recommend the services offered by this company, we do not guarantee the accuracy or quality of their services. Agents are ultimately responsible for the use of any materials or services and agree to comply with various regulations and the compliance requirements of their state(s), broker/dealer and registered investment adviser (if applicable), and the insurance carriers they represent.