RIA Biz: LPL's Casady is latest to warn of end to commission-sold VAs in retirement plans
Jefferson National president Larry Greenberg is one of the industry experts quoted in an RIA article concerning the DOL Fiduciary Ruling. The article takes a look at how some of the leaders in the industry are reacting to the potential ruling.
The discussion involves the DOL’s impact on LPL, who is potentially dropping commissionable variable annuities. According to the article, the focus will now be on fee-based annuity products. Jefferson National’s Monument Advisor is spotlighted as the industry’s first flat-fee Investment-Only Variable Annuity (IOVA), a VA that isn’t stuffed with commissions.
President Larry Greenberg provides commentary, explaining how Jefferson National built MA specifically for this market. According to Greenberg, ““We have no surrender fees. We have strong technology integration. We have spent a great deal of time and effort to make sure it is integrated. The world is going fee-based and this is the first step. We’ve already seen it. It’s now at a much faster growth rate. From our perspective, what we have is pure.”
Read more from industry experts on the DOL rule, here.