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
Allianz, Voya, Symetra and Lincoln Financial are forging ahead into virtually uncharted waters for product development.
The insurer joins other financial services companies such as Ameriprise and Principal, who've detailed rising compliance costs associated with the regulation.
The expense speaks to the difficulty broker-dealers are facing to comply with the controversial new regulation.
The suits against NYU and Yale are especially significant because they're the first regarding university 403(b) plans.
Because platform initially will be offered through B-Ds, firm doesn't see it undercutting plan advisers' business, though it has considered going direct to plan sponsors.
Broker lied about need to surrender customer's VA to buy a charitable gift annuity, earning a hefty commission in the process, according to the regulator.
Finra says the firm failed to detect and prevent theft of approximately $1.3 million from an 89-year-old man's account.
The settlement was part of a broader crackdown by regulators in five states on insurers who allegedly failed to make death benefit payouts on a timely basis.
Valuing Mr. Ali's image rights, inheritance tax on property and the will's treatment of his nine children are a few potential estate quirks that could come up.
Tight restrictions are placed on investment options in VAs with guaranteed income to reduce their risk. Returns have lagged as a result, frustrating advisers and investors.
