Since CreativeOne’s inception in 1984, we’ve been at the forefront fighting amendments that could potentially impact our industry in order to better serve you. Back in 2008, CreativeOne partner Mike Tripses served on the board for the National Association of Fixed Annuities (NAFA) and was a leader against the SEC’s proposed Rule 151A, known as the Harkin Amendment, which would have regulated indexed annuities as securities rather than insurance products.
As you are aware, the DOL has recently proposed changes that could drastically alter our industry. These proposed fiduciary changes would hold insurance and financial professionals to a higher legal standard to act in the best interest of their clients. As a company, we’re keeping a close eye on the proposal and to best keep you informed of any updates, CreativeOne has formed an internal, 10-person task force of actuaries, attorneys, compliance, executives, sales and marketing representatives ready to navigate you through any changes.
We’ve also provided substantial support and resources to NAFA to fight against this rule to preserve the ability for you to continue delivering outstanding client benefits afforded through fixed and fixed indexed annuities.
As an Agent Development Organization (ADO), CreativeOne’s unique value proposition makes you more successful by providing you with the vast array of services you need, including keeping you up-to-date on anything that could affect your business and more importantly, your clients.
It is speculated President Obama will announce the rule tomorrow. As soon as CreativeOne has reviewed the rule with our counsel, we will provide you with potential next steps for your practice.
We take pride in being your go-to resource regarding the DOL’s proposed fiduciary changes, so if you have any questions or concerns, please don’t hesitate to contact us at 800.992.2642.
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC. CP-0750 – 2016/4/5