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Banks and Broker/Dealers

Morgan Stanley Ready for Electronic VA Sales

November 2008 - A Merrill Lynch rival, Morgan Stanley, has also been aggressive in putting variable annuities on its advisers' workstations.

On the Road to STP: October 2008

October 2008 - Electronic signing of electronic documents produces a truly 'paper-free' STP process, which will reduce errors, compress process time, and assure a transparent, expeditious, and error-free outcome.

Why Small Banks Overlook Annuities

September 2008 - Community bankers are trailing their bigger brethren in offering annuities, a fee-rich product that consumers flock to in uncertain times.

For Wachovia, Annuities Are A Bright Spot: Amid Subprime Woes, Bank Topped Rivals in 2007 Annuity Fees

July 2008 - Wachovia Corporation at least had one income statement item to celebrate this spring: undisputed leadership in 2007 bank annuity sales.

On the Road to STP

May 2008 - Last March, 32 members of the NASA-FSI working group met in Dallas to agree on an STP process for independent broker/dealers and to plan their next activity.

Unbundled GLWBs Await SEC Approval

May 2008 - Starting this year, investors may be able to visit their favorite brokerage and buy an extended warranty on certain mutual fund investments.

It's Official: Your Clients Are Confused - SEC/RAND Study Confirms Obvious; Impact Unclear

April 2008 - A new RAND Corporation study seems sure to provide ammunition to both the broker/dealer and the financial planning communities in their debate over whether brokers who manage fee-based accounts should be held to the same fiduciary standards as registered investment advisors (RIAs) and financial planners. On the one hand, the study showed that most clients are satisfied with the service provided by both broker/dealers and advisors. But the research also indicated that investors would not knowingly give control of their money to intermediaries who weren't held to the higher standard.

Word On The Street: B/Ds Now Embracing Suitability Training

March 2008 - Broker/dealers have started beefing up their variable annuity sales training to comply with the new SEC Rule 2821, which has a mandatory compliance date of May 5. Meanwhile, those offering training materials for the rules are reporting brisk sales.

New Report Competes with VARDS

December 2007 - Morningstar's VARDS online variable annuity tracking and product information reports face new competition. Advanced Sales Corp. of Oakbrook Terrace, Ill.,...

Mutiny Against Morningstar

December 2007 - Over the past summer, rumors surfaced that major participants in the annuity industry-carriers and broker/dealers-were dissatisfied with Morningstar's...

Bank Annuity Sales Surge in First Half of 2007

November 2007 - Sales of annuities in banks surged in the first half of the year, according to a report by a financial institution market watcher. The most recent Kehrer-Jackson...