Over time, banks and broker-dealers will replace independent insurance agents as the most important channel for the sales of fixed indexed annuities, said John Matovina, president and CEO of American Equity Life. The Labor Department's new standards for giving investment advice will make it more difficult for independent insurance agents to sell FIAs, he said.
Holding an annuity within a individual requirement account offers several benefits, particularly if the owner can't buy an annuity with non-IRA assets, William Byrnes and Robert Bloink write. "Annuitizing a portion of a client's IRA can help simplify that client's retirement income planning to a certain extent -- but it also presents its own set of complications that must be understood in order to properly execute such a strategy," they write.
A survey by Allianz Life Insurance found that 80% of Americans were interested in a product that offers income for life and 86% were interested in a product that provided for guaranteed lifetime income and an option for increasing that income.
Social Security has many payment nuances that clients expect investment advisors to know, and those who do provide value beyond what traditional advisors offer, writes certified financial planner Mary Beth Franklin. For example, many beneficiaries don't know that federal taxes can be withheld from payments, but advisors should know.
Oranj CEO David Lyon gives financial advisors tips to thrive in the industry, even as robo-advice takes a larger share of the investment landscape.
Irrational clients often want changes to investment strategies during market downturns, and financial advisors should know how to respond to such panic, experts say. Knowing clients' risk tolerance and when they're likely to request changes can help advisors better respond.
Many affluent US investors are selling off stocks in advance of the presidential election because of worry about the race's effect on the stock market.
Improving clients' Medicare coverage in retirement is one way to ensure they have the money they need and are optimizing their care, experts say. Here are five things advisors should discuss with their clients.
Financial consultant Mike Piershale warns that hundreds of rules govern retirement planning and violating them can result in stiff fines and penalties and drain away retirement savings. He suggests that people preparing for retirement familiarize themselves with the rules or get help from a financial planner who specializes in retirement.
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