Greg was a reporter for InvestmentNews from 2015 to 2019, covering defined-contribution plans, retirement planning, insurance, taxes and estate planning, before then moving to CNBC as a Personal Finance Reporter. He tweets at: @GregIacurci
The group is altering how it works with local chapters to combat 'dysfunction' and remain relevant, officials say.
Stonebridge Financial Group is the latest example of attrition from the wirehouse.
The insurer joins other large players that have recently left the business, which is less profitable than it used to be.
Bankruptcy appeals panel said IRA and 401(k) assets obtained through divorce can't be shielded from creditors.
Some experts believe the offer is related to the company's recent decision to discontinue trail commissions on some VAs.
Negative stereotypes of young investors are preventing many firms from courting this valuable potential client pool.
The controversial elimination of trail compensation on certain VA contracts won't apply to this firm's brokers.
Company plans to bypass record keepers and ask plan sponsors directly if they will offer its managed accounts to retirement plan participants.
Advisers are concerned that Ohio National's "scorched-earth policy" may lead other insurers to take a similar action.
But the proposal doesn't create "open MEPs," as many in the industry had been hoping.
