Monday, June 29, 2009
Insurance-affiliated brokers face major changes under Obama plan
Fiduciary requirement could force them to choose advice or transactions
Broker defections, a loss of market share and spinoffs could be on the horizon for insurance-affiliated broker-dealers if the Obama administration's proposed regulatory reforms force them to act as fiduciaries.
If the proposal to require broker-dealers that offer investment advice to act as fiduciaries is enacted, it will likely upend the insurance broker-dealer business model and force carriers and their registered representatives to decide whether they belong in the advice arena or in the transactional realm, industry experts said...
Investment News: Insurance-affiliated brokers face major changes under Obama plan
Broker defections, a loss of market share and spinoffs could be on the horizon for insurance-affiliated broker-dealers if the Obama administration's proposed regulatory reforms force them to act as fiduciaries.
If the proposal to require broker-dealers that offer investment advice to act as fiduciaries is enacted, it will likely upend the insurance broker-dealer business model and force carriers and their registered representatives to decide whether they belong in the advice arena or in the transactional realm, industry experts said...
Investment News: Insurance-affiliated brokers face major changes under Obama plan
Permalink posted by markw @ 8:01 AM 
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