The FIDx Five: FINRA Refocused
Retirement, Annuity, & Fintech Insights
As FINRA gears up to scrutinize variable annuity sale violations this year, industry players brace for the regulatory magnifying glass. Understand more about that and the other four stories that stood out to us in this week's "The FIDx Five."
FINRA Sharpens Its Gaze
As FINRA prepares to scrutinize variable annuity sales violations in 2023, industry insiders brace for impact. With an emphasis on suitability and disclosure, this regulatory shake-up could redefine the future of annuity sales practices.
Source: Life Annuity Specialist, “Finra to Take ‘Hard Look’ at Variable Annuity Sale Violations This Year,” 3/22/23
Defying the Turbulence
Riding out the storm, life and annuity stocks proved their resilience amidst the Credit Suisse upheaval. But the stocks of 16 of the largest public issuers are still down 21% over the past month.
Source: Think Advisor, “Life and Annuity Stocks Weather Credit Suisse Storm,” 3/21/23
MYGA Explosion
MYGAs have experienced a revival as investors seek secure, long-term growth opportunities. Amid market uncertainty, they’ve emerged as an attractive financial planning tool—but will it last?
Source: InsuranceNewsNet, “Why MYGAs are enjoying a renaissance,” 3/21/23
Exploring Mandatory Contributions
"PlanSponsor" investigates whether mandatory contributions to a 401(a) plan can be designated as Roth, shedding light on a crucial question for retirement planning. The answer could impact tax implications and retirement savings strategies.
Source: Plan Sponsor, “Can Mandatory Contributions to a 401(a) Plan Be Designated as Roth?” 3/21/23
Shifting Premiums
Recently released data from the National Association of Insurance Commissioners reveals the changes in premiums for the 25 largest life insurers and annuity issuers in 2022. Here's valuable context for understanding the current landscape.
Source: Life Annuity Specialist, “Changes in 2022 Premiums for 25 Largest Life Insurers, Annuity Issuers,” 3/20/23
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