I just couldn’t keep my big mouth closed and gave Harry and Sally the report on their 401 (k) annual expenses being charged to manage their funds. These expenses were in addition to the $50 per year administration fees and were tied to the actual account value of the funds in the 401 (k).
A new rule enacted by the Department of Labor governing financial advice provided by advisors has thrown the industry into a state of confusion and disarray. The "Fiduciary Rule" went into effect June 9, 2017, however, any enforcement of the rule has been delayed until January 2018. New DOL Commissioner Acosta has indicated [...]
In the aftermath of our most recent election it seems you cannot turn on the television or go online without seeing one story after the other quoting "anonymous sources" as the source of the information being circulated. Unfortunately, as we have seen time after time the "anonymous sources" oftentimes are found to be peddling false [...]
A recent article mentioned that Credit Suisse was evaluating how the new Department of Labor (DOL) “fiduciary” rule will affect companies depending on variable annuity fee income. The simple fact is this, variable annuities are losing their place in the market and will eventually be a simple add on product instead of the “bull” annuity [...]
The new Department of Labor rule change due in May 2016 will have a devastating effect on the annuity industry, those who sell them and those who buy them. Here is what will be the result of this new exposure with the DOL and the American people. The result will be completely blind mice trying [...]
The DOL should keep their grimy hands off our business I have been writing about and watching with great curiosity about how the government moves more and more to control most aspects of our lives. The sheer ignorance of the new DOL proposal for new “rules” show a complete deftness towards how we as citizens [...]
The Federal Government needs to respect States Rights At a speech recently SEC Commissioner Luis A. Aguilar suggested the need for more federal government oversight for the annuity industry. Not the variable annuity industry that the SEC currently regulates but the annuity industry managed by each state Department of Insurance (DOL). His decision was based [...]