Monday, March 22, 2010
Open VA platform at Ameriprise may be less than open
Axa, Lincoln, MetLife wholesalers will be personae non grata; cap on commissions planned
Ameriprise Financial Inc.'s plan to open its brokerage platform to outside variable annuities falls short of the open architecture favored by other independent broker-dealers.
The move, which is expected to occur by the end of the second quarter, is apparently aimed in part at boosting Ameriprise's ability to recruit independent-contractor registered representatives and financial advisers. Such advisers are often big sellers of variable annuities and consider the in-vestment options available to them carefully before changing firms...
Investment News: Open VA platform at Ameriprise may be less than open
Ameriprise Financial Inc.'s plan to open its brokerage platform to outside variable annuities falls short of the open architecture favored by other independent broker-dealers.
The move, which is expected to occur by the end of the second quarter, is apparently aimed in part at boosting Ameriprise's ability to recruit independent-contractor registered representatives and financial advisers. Such advisers are often big sellers of variable annuities and consider the in-vestment options available to them carefully before changing firms...
Investment News: Open VA platform at Ameriprise may be less than open
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