November 13, 2008
My name is Wade Lopez and I am an active member of the FPA. I vehemently support the proposed rule mentioned above. As a certified financial planner with a practice consisting mostly of senior citizens, I have met with at least 4 referrals in the last year that have been damaged by purchasing unsuitable equity indexed annuities. I find it absolutely ludicrous to think that any industry could possibly believe that an "equity indexed " annuity shouldn't fall in line with the investment advisor act. As a licensed insurance agent, can't we please try and protect the investor by doing what's right?
J. Wade Lopez, CFP®
President