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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

Author Lisa Shider
Admin:
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Bing Waldert: This is almost an existential crisis for variable annuities.

Related Moves

Mark Casady is under the gun to spend his SPAC's $200 million of cash to avoid October deadline but a recent SEC filing sounds an ominous note after CEO departs

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September 29, 2022 at 1:24 AM

How a white senior vice president at an LPL OSJ came to hire a former black minister as recruiter despite the latter's pledge to make it 'uncomfortable' at times

Rob Sandrew hit it off with Keith L. Frasier, willing to speak up on racial and racial justice issues, who also checks all the boxes for attracting talent and assets at a firm that recruited $2 billion last year

August 19, 2020 at 2:18 AM

His days of playing defense done, Jeff Concepcion pinches pennies then poaches a Fidelity and Schwab veteran to execute grab for next $6 billion of AUA at Stratos

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October 5, 2018 at 7:40 PM


Mentioned in this article:

LPL Financial
Asset Custodian
Top Executive: Dan Arnold

Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli




Stephen Winks

Stephen Winks

March 3, 2016 — 12:33 AM

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 Of course it hasn’t thus a breach of ongoing fiduciary duty structured in outdated policies.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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