Suitability / Compliance Archives - Creative Edge

The New York State Department of Financial Services (NY DFS) has released the final version of best-interest Regulation 187 (NY 187) Suitability and Best Interests in Life Insurance and Annuity Transactions. This regulation requires producers and insurers to implement a process that ensures they’re acting in the consumer’s best interest when recommending an annuity or… Read More

In December, the Department of Labor plans to propose a new fiduciary rule as a continuum of the battle to overhaul investment advice for retirement accounts. The rule will likely be contoured to the SEC’s new advise standards. Read more about the proposed rule here.   CreativeOne will continue to monitor the situation. For more information,… Read More

New fixed index annuity offers income potential, maximizes flexibility Launching Nov. 6, introduce your clients and prospects to the all-new Strategic Design Annuity℠ X, North American’s new fixed index annuity with the income X-factor. Double up – 200 percent of interest credited through a guaranteed lifetime withdrawal benefit (GLWB) value roll-up. Dynamic retirement income – Up… Read More

6/28/2018 On June 21, 2018, the 5th Circuit Court of Appeals ruling that the Department of Labor (DOL) had exceeded its authority in issuing its fiduciary rule was officially vacated. This means that the Fiduciary Rule has been revoked in its entirety and is no longer in effect. What does this mean to you? You… Read More

Let’s do a compliance-inspired thought experiment. You met a married couple at a client seminar and have had a couple of follow-up meetings with them. Based on your initial discussions, it appears a fixed index annuity recommendation may be in their best interest, and you’re busy preparing some proposals for them to consider. Their grandkids,… Read More

The 5th Circuit Court of Appeals in a victory for Appellants, U.S. Chamber of Commerce, et.al., by a 2-1 decision ruled on March 15 against the prior District Court decision for DOL, vacating that decision and erasing the Fiduciary Rule. The Appellants questioned whether 1) the new definition of investment advice fiduciary is consistent with… Read More

On Thursday, March 15, the 5th Circuit Court of Appeals issued an opinion to vacate the Department of Labor’s Fiduciary Rule in its entirety. However, the Fiduciary Rule will remain in effect for at least 45 days as the DOL decides on whether to appeal the ruling. Join us as we review the legal decision, the… Read More

Predictions are all the rage at the artificial divisions carved by our Gregorian calendar, but they are also a stern master. I wish I had the qualities of a seer, but on topics like the economy and what advisor business will be like next year, the best minds will often be off target. Albert Einstein… Read More

The First Cuts are the Deepest On December 22, 2017, after passage by both houses of the U.S. Congress, President Donald J. Trump signed Public Law No. 115-97, also known as the Tax Cuts and Jobs Act (TCJA). The TCJA is first and foremost a one-time tax cut for corporations: rates have plunged from 35… Read More

The Department of Labor has officially announced the 18-month extension for the start of key provisions of the fiduciary rule. Join us for this interview with Andrew Payne, General Counsel at CreativeOne as we break down: What’s delayed. What’s STILL in effect…and your requirements. What this means to you and your practice.