'Unprecedented' opportunity for advisors as annuity assets reach all-time high
IFAwebnews.com
The annuity industry ended last year on "strong and secure footing," where variable annuity assets reached an all-time high and fourth quarter sales showed the highest levels of last year, a report showed. Variable annuity assets reached $1.5 trillion last year, according to the Insured Retirement Institute. The institute said fourth quarter variable annuity sales were $37.6 billion, up 10 percent from the previous quarter. Year-to-year quarterly sales of variable annuities increased 18 percent from fourth quarter 2009 sales, the report showed.More

For B-Ds, crunch time on plan fee disclosure begins now
InvestmentNews
Service providers have an additional six months to prepare for plan fee disclosure regulations, and from the looks of it, broker-dealers are going to need all that time to make sure they're up to snuff. "There are many types of compensation for broker-dealers and they have a tough job going forward," said C. Frederick Reish, an attorney at Reish & Reicher, a firm that specializes in the Employee Retirement Income Security Act of 1974. "They will get there, but it'll be hard."More

Today's annuities — and how to sell them
Advisor Today
It's hard to ignore the annuities market lately. Last year, Americans spent $129 billion on individual annuities — down more than 38 percent from 2008. Yet, with a retirement boom on the horizon and millions of market-ravaged consumers seeking financial products that make them feel secure, clients are probably asking about annuities again.More

News for brokers, wealth managers and their clients
The Wall Street Journal
The Wall Street Journal compiles recent news items affecting advisors, wealth managers and their clients. The article contains information regarding advisors changing firms, social media and credit unions. More

Regulatory confusion keep advisors, broker-dealers in limbo
Financial Planning
Between the SEC's broad and unspecific recommendations to safeguard shareholders from unscrupulous advisors and the Department of Labor's recent attempts to redefine the conditions under which a financial advisor becomes a fiduciary, the financial advisors and broker-dealers providing the guidance and products investors need for retirement are huddling up to decide which regulations and rule changes they should support in the face of looming legislation.More

Senators explain why they want fiduciary standard study
Naional Underwriter
Two members of the Senate Banking, Housing and Urban Affairs Committee say they want further study of the idea of applying the fiduciary standard to broker-dealers because they do not believe advocates have made a convincing case for creating a total fiduciary standard. Sen. Timothy Johnson, D-S.D., and Sen. Michael Crapo, R-Idaho, have expressed that opinion in a letter to Sen. Christopher Dodd, D-Conn., chairman of the committee, explaining why they are seeking more study of the fiduciary standard issue.More

Obama administration appeals Florida judge's health care ruling
Reuters via Insurance Journal
The Obama administration recently appealed a U.S. judge's ruling in Florida that struck down its landmark health care overhaul law as unconstitutional because it required Americans to buy health care insurance or face a penalty. President Barack Obama's Justice Department filed its notice of appeal and the case will go to the U.S. Court of Appeals for the 11th Circuit, based in Atlanta. The fight over the law is expected to reach the Supreme Court. More

5 commandments of risk management
Financial Advisor
Now that the trauma of the 2008 financial crisis is fading behind us, advisors can't afford to fall back on old modes of thinking. Individual investors have been deeply scarred and fundamental factors presage a bumpy road ahead — in this new environment the same-old approaches just won't do. A systematic framework is needed to help advisors progress in a way that is not purely reactionary, but also practical and productive. This new framework is called Risk 3.0.More

Save the date: Aug. 16-17 — FSP's Clinic for Advanced Professionals
Society of FSP
This in-depth, two-day educational meeting will take place at the Philadelphia Airport Marriott and will focus on risk management, estate planning, financial planning and retirement services. Attendees can earn up to 12 hours of CE. Includes Professional Showcase Sessions and Exhibit Hall. Watch SFSP for coming details.More

Stay current on the tax law with Leimberg Information Services, Inc.
Society of FSP
FSP members can take advantage of a 30-day free look at LISI, an e-mail subscription service that provides analysis and commentary on—as well as the actual text of—proposed and recent legislation regulation, cases and rulings. For details visit LISI.More