July 30, 2008
My understanding the SEC is concerned the general public is not being protected by the Sale of Fixed index Annuities by the Insurance Agents.
As an Active Insurance Agent in the State of Florida I talk with a large number of Senior Citizen that all share something in common. The Last of their Savings is in the Hands of a SEC Licensed Stock Brokers. These SEC Licensed Brokers are not proactive in trying to preserve their Clients Savings. They're only become proactive when their Clients want to Liquidate their Accounts.
This seems to be the same Proactive approach the Leaders of SEC are exhibiting. The percentages show the Investment Dollars are moving to the Fixed Index Annuity. It's never the SEC Problem. It must be those non SEC License Insurance Agents
It's quite obvious the Individual Investor sees the Advantages the Insurance Companies offer in Fixed Index Annuities and the SEC wants to eliminate the competition.