The possible side effects — such as more monitoring of business activities, fees and compensation as well as how advisors handle recruitment and succession planning — will likely have the most impact on annuity advisors and institutions serving the retirement market.
With millions of baby boomers — with what has been estimated to be trillions in assets to pass on —retiring every day for the next decade, annuity advisors are proactively seeking solutions to continue to lawfully tap into this market — in spite of the DOL.
One option, selling Single Premium Life (SPL) instead, has proven to be effective.
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