October 29, 2008
Sadly enough if your concern were only for seniors I maybe more apt to support you in this matter. However I personally feel that it is rooted in nothing but greed. FIA's are NOT a security now nor have they ever been. It is selfish of you to want to put your hand into the matter. Brokers, those holding 6 and 7 licenses are less trustworthy than anyone. Why don't you put more regulations on them? You have no idea how many folks have walked across our doorstep in the last month having lost half of their retirement thanks to your brokers. Yet not one of our clients have lost a dime. I urge you to stay out of FIA's. Leave this industry alone. Focus more on those already under your jurisdiction, i.e. brokers.