July 7, 2008
Turf Wars.
Could the real reason the SEC wants to now regulate,EIA's have been out over a decade, EIA's is that Brokerage Firms need more "exclusive rights"
to the $100 +/- billion annual sales? Fixed annuity sales were what $204 billion in 2006 vs 2007 sales of $257 billion? The fixed annuity trend is up and the brokerage firms are wanting "exclusive rights" to the "EIA pie." If to "protect" the public is the "concern" of the SEC, then why do insurance sales people pay EandO premiums of around $500 a year vs $2800 a year for the average securities broker? Because. Like "Where's the Beef?" "Where is the risk with the public and EIA's (?) in the securities industry that's where. I think--only Insurance sales people should be selling EIA's because the securities industry still needs to get its house in order. What a dying industry. Who can live on $7.95 trades? The SEC in their support of brokerages is thinking "Pie and Pie in the Sky when I die"....EIA Pie that is.
Sincerely,
Kraig Carpenter
Against anymore lame SEC regulations.