ASA Fiduciary Rule Summary

On April 6, 2016, the U.S. Department of Labor (DOL) issued its final rule expanding the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA) and modified the complex of prohibited transaction exemptions for investment activities within its expanded definition. This final rule is commonly known as the “DOL Fiduciary Rule.” The potential...
read more

FREE LIMRA Fiduciary Rule Training

The ASA Group requires all agents to complete a one-time Fiduciary Rule training course prior to soliciting qualified plan or IRA business. We are pleased to offer free LIMRA training via our carrier partners. Please see instructions below to complete training if you are appointed with any of these carriers: American Equity: https://media.american-equity.com/Documents/4511-TR.pdf American...
read more

Required Annuity Suitability Forms and Disclosures

Annuity Suitability Worksheets When applying for an annuity policy, the insurance producer is required by law to make reasonable efforts to obtain information concerning the financial status, tax status, investment objectives and other pertinent information for the proposed insured. These worksheets can help you ensure you have all of the legally required information: Annuity Suitability Profile...
read more

Fiduciary Comes Down Tomorrow – But The Sky Won’t

It has been a long 16 months since the Department of Labor originally announced The Fiduciary Rule and its applicability to IRA accounts. Sitting in this chair, I have not heard too many folks expressing cheer and exhilarated anticipation about the changes. If I had to summarize the bulk of what I’ve heard over the last year, and which has picked up in the last 3 weeks, it would be “THE SKY IS...
read more

Fiduciary Rule Goes Into Effect June 9th

On May 22nd Labor Department Secretary Alexander Acosta stated “We have carefully considered the record in this case, and the requirements of the Administrative Procedure Act, and have found no principled legal basis to change the June 9th date while we seek input.  Respect for the rule of law leads us to the conclusion that this date cannot be postponed.”  Two provisions of the Fiduciary Rule –...
read more