Module 1: Fiduciary and Suitability Duties

The new DOL Fiduciary requirements promise to have a significant impact on annuity products. Thanks to the new legislation, a producer’s recommendation must now be in the best interest of the client, a standard that is similar to the suitability standard but much more stringent.

This module focuses, in detail, on the old suitability standard (as it applied to annuities), outlines how the new regulations will impact the various types of annuity products (e.g., fixed, indexed, variable, etc.), and outlines the various exemptions.

The long term impact of the new legislation on annuities is also covered under the banner of “The Future of Annuities.”


Module 2: Fiduciary Standards and Technology

The new DOL fiduciary standard will create a list of challenges for financial firms and their advisors. Among them: examining fees and compensation structures; reviewing product offerings, identifying accounts and transactions that will require fiduciary oversight, determining the appropriate solution for compliance, determining whether and how to employ and comply with the various exemptions, and determining the overall impact on business growth, revenue and expense projections.
Many of these challenges will require technology solutions and tools – including risk assessment, portfolio management, and Customer Relationship Management (CRM) software.
This module looks at the many challenges posed by the new regulations as well as at how technology can be used to meet these challenges.