The ongoing discussion surrounding annuity commissions includes calls for greater fee transparency and a shift toward client-centric advice. Find out more about that and the four other stories in this edition of “The FIDx Five.”
Blame Commissions for Issues
Industry insiders point to commissions as the root cause of complexity and high costs in the annuity market.
Source: Annuities Aren’t the Problem. Commissions Are, Say These Industry Pros, Barron's, 10/25/2024
Annuity Providers Ranked
J.D. Power ranks annuity providers on trust, value, and customer experience. The winners excelled in product knowledge and onboarding education.
Source: Best & Worst Individual Annuity Providers, J.D. Power, 2024, ThinkAdvisor, 10/23/2024
Should Advisors Always Be Fiduciaries?
As clients demand more transparency, the debate continues: should advisors always act in their clients' best interests?
Source: To Be a Fiduciary, or Not to Be a Fiduciary?, InvestmentNews, 10/29/2024
Annuity Sales Hit Record Highs Amid Economic Trends
Strong economic conditions and rising income needs are driving annuity sales to record-breaking levels.
Source: Economic Conditions, Income Needs Drive Big Annuity Sales, LIMRA Says, InsuranceNewsNet, 10/29/2024
Boeing Workers Reject Contract Over Retirement Benefits
Boeing workers turned down a new contract, citing dissatisfaction with the proposed retirement benefits.
Source: Why Boeing Workers Rejected a New Contract, Retirement Benefits, The New York Times, 10/24/2024
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