September 10, 2008
I strongly support proposal that equity-linked annuities only be sold by advisors who hold a Series 7 license. Insurance agents are now providing investment advice ("sell your mutual funds, stocks, variable annuities, etc.") and buy my index annuity. They do not have the expertise nor the training to make suitable recommendations. I know certain members of the insurance industry are against this, but only because of the anticipated drop in commissions they anticipate. They do NOT have the best interest of the comsumer in mind.