As variable annuities face 'existential crisis,' LPL's Casady is latest to warn of end to commission-sold VAs in retirement plans
DOL's imminent final rule is prompting LPL and Commonwealth to consider nixing traditional VAs in qualified retirement plans
Stephen Winks
Under a fiduciary standard, cost is an important consideration in fulfilling fiduciary duty in the client’s best interest. Thus, when you consider that insurance cost have declined 50% over the past twenty years, enterprising advisors must ask if coverage has been correspondingly expanded at no additional cost. Of course it hasn’t thus a breach of ongoing fiduciary duty structured in outdated policies. There will be profound challenges in insurance products in years to come built around fiduciary duty in the client’s best interest.
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LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli
