Financial Services Industry
Industry: Email Alert RSS FeedOn your own with the indexed annuity mess.(Editorial)
Investment News, October, 2005
Remember your little brother who always got you in trouble? Your parents blamed you for not keeping him in line. Such is the state with the investment industry, which sees insurance agents' selling risk-free "stock market'' investments in the form of equity-indexed annuities - an easy sale with fat commissions.
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The industry can only wince as NASD forces brokerage firms to supervise sales of the products, even though most of the problems seem to be with unregistered agents. So we'll still hear of cases in which an elderly couple transfer their million-dollar ...
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