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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 March 2, 2016 at 7:05 PM
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Bing Waldert: This is almost an existential crisis for variable annuities.

Bing Waldert


Laurence Greenberg


Mark Casady


Ethan Young


Patty Reiners

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 Of course it hasn’t thus a breach of ongoing fiduciary duty structured in outdated policies.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

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli

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