A new organization of insurance and asset management firms is hopeful that the SEC’s proposed Regulation Best Interest will include a provision mandating discussion of risk, according to Jackson National Life Insurance CEO Barry Stowe.
The language would require advisors to “be mindful of and communicate to the consumer” how exposed they are “to market risk and to longevity risk,” Stowe said. “Candidly, just about the only product in existence that mitigates those two risks is some form of an annuity product.” He spoke Oct. 4 at a panel of insurance CEOs who are part of the Alliance for Lifetime […]
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