Speak with a Registered Agent: 1-866-223-2121

Variable Annuities: Fifth Third Securities Fined By FINRA For VA Sales

An article by Reuters’ Jonathan Stempel further emphasizes the importance of responsibility when selling variable annuities. The Financial Industry Regulatory Authority (FINRA) has fined Fifth Third Securities about $2 million (including $250,000 in restitution) for unsuitable sales of variable annuity products to the elderly, whom …

Read more

Annuities for Retirement: Stricter Regulation in Florida

A press release from Florida’s Chief Financial Officer Alex Sink details new legislation the state has passed to protect residents from annuities fraud. Specifically, it bans the practice known as “twisting”, where an unscrupulous agent combines several annuities into one with a different holiday. The …

Read more

Sales of Immediate Annuities Soar for New York Life

Matt Ackerman of Bank Investment Consultant recently reported that sales of immediate annuities have risen over the past several years. For example, New York Life’s immediate annuity sales increased by 34% in 2008. As of December 31st, immediate annuities make up $1.2 billion in the …

Read more