#finlit Financial Literacy for retirement products

In April the Labor Department released the rule for financial brokers who sell retirement products that PROTECTS YOU FIRST and puts YOUR FINANCIAL WELL BEING ABOVE them just selling you anything that makes them [THE BROKERS] money.

WARNING

The Labor Department compromised with the industry and  the final rule does not restrict brokers from pushing proprietary products or recommending risky, high-fee investments in alternative assets and certain annuities.

ETHICS

THEN THEY SUED TO GET RID OF IT ALL TOGETHER

The Indexed Annuity Leadership Council, the Life Insurance Co of the Southwest, American Equity Investment Life Insurance Co, Midland National Life Insurance Co and the North American Co for Life and Health Insurance AND Market Synery Group, an insurance agency,  sued  over its treatment of fixed indexed annuities, those that link their returns to a stock market index. That lawsuit was filed in the U.S. District Court in Kansas.

http://www.reuters.com/article/us-usa-insurance-fiduciary-idUSKCN0YW1VS

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