November 16, 2008
I am a member of the Financial Planning Association (FPA), and I strongly support the proposed rule. I am a Certified Financial Planner with over ten years as a financial planner, and without a doubt, the number one complaint I hear from clients (who are transferring their account to me) is in regards to equity indexed annuities. I urge you to do what is right for the consumer in establishing more oversight for these products. As a Certified Financial Planner, and having my insurance license selling insurance and annuities (regular) for over ten years, I have NEVER recommended an equity index annuity to a client. That should tell you something.
John W. Loyd, CFP® CERTIFIED FINANCIAL PLANNER™ LPL Financial