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Annuity sales to IRAs getting hammered under fiduciary rule

The fiduciary rule has only been partially implemented but it's already discouraged annuity recommendations to qualified retirement accounts, according to LIMRA.

By Nick Thornton | Updated on February 23, 2018
The fiduciary rule has only been partially implemented but it's already discouraged annuity recommendations to qualified retirement accounts, according to LIMRA. (Photo: Shutterstock)

The implementation of the DOL fiduciary rule’s  impartial conduct standards last June is clearly weighing on the annuity market, according to the LIMRA Secure Retirement Institute.

Total sales of variable annuities in 2017 dropped below the $100 billion mark for the first time in 20 years, according to LIMRA. Variable annuity sales were $95.6 billion in 2017. In 2011 they topped $158 billion.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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