The FIDx Five: A Silver Lining or a Signal of Coming Storms?
Retirement, Annuity, & Fintech Insights
Annuity sales reached an astonishing $92.9 billion in Q1, a 47% increase from last year. Could impending changes to fiduciary regulations rain on this parade? Read all about it—and the four other stories that got our attention—in this week’s “The FIDx Five.”
1. Can Annuities Maintain Their Soaring Popularity?
Annuities are experiencing a time of exceptional growth. But how long will the surge continue?
Source: InsuranceNewsNet, “Annuities hit nirvana moment – will it last?”6/1/23
2. AI Stumbles on the Intricacies of Annuities
Chatbots are faltering when it comes to understanding the complexity of annuities. What does this mean for the future?
Source: Think Advisor, “AI Chatbots Don't Understand Annuities,” 6/1/23
3. A Winning Streak
How have Nationwide and Security Benefit successfully ignited a surge in fixed-rate annuity sales? Dive into what has positioned them at the vanguard of this booming industry trend.
Source: Life Annuity Specialist, “How Nationwide, Security Benefit Stoked Sales of Fixed-Rate Annuities,” 5/31/23
4. Guilty Verdict in $6.3 Million Fraud Case
The 'Annuity King' has been dethroned. What does this scandal mean for the reputation and regulation annuities?
Source: Yahoo, “Sarasota's self-proclaimed 'Annuity King' found guilty in $6.3 million fraud case,” 6/1/23
5. Leadership Shakeup
MassMutual announces new heads for its financial advisory and annuity divisions, signaling a potential change of course. Will this fresh perspective drive innovation and growth in an increasingly competitive market?
Source: PlanAdviser, “MassMutual Names New Financial Advisory, Annuity Leaders,” 5/30/23
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