Fee-based FIA Trend Grows

[Brian Anderson]

This week Symetra introduced a pair of new fee-based fixed indexed annuities and earlier this month Nationwide introduced the first FIA in their lineup designed to better fit the needs of RIAs and fee-based advisors in light of the new Fiduciary Rule environment (details about both in link below).

Has anybody here had much experience using any of the new fee-based FIAs so far and what do you think? Sounds like plenty more are on the way.

Insurance Forums | Next wave of fee-based FIAs hit the market

 

[pgmcgillivray]

First product seen here is Great American, August 2016. Have not seen a sale yet. Agents not licensed to charge a fee so they will sell what they have now on a trail commission basis IF they choose to be paid that way. Also, who would make a withdrawal from an IRA to pay the agent-advisor's fee? These might just be an annuity for worst-case no-commission DOL Rule outcome? We really haven't figured it out yet. For Great American press release, see businesswire.com release 20160811005593 titled "Great American Life Launches New Fixed-Indexed Annuity and Guaranteed Income Rider for Fee-Based Advisors"