The FACC Campaign is an unincorporated alliance of insurance agents, independent marketing organizations, insurers, and industry advocates seeking to protect the availability of fixed annuities by ensuring any standard of conduct regulations adopted by applicable regulators recognize and appropriately align with fixed annuity distribution through independent agents and marketing organizations.

The FACC Campaign is an unincorporated alliance of insurance agents, independent marketing organizations, insurers, and industry advocates seeking to protect the availability of fixed annuities by ensuring any standard of conduct regulations adopted by applicable regulators recognize and appropriately align with fixed annuity distribution through independent agents and marketing organizations.

Blog:

FACC to NAIC: Suitability Works

A fiduciary/best interest duty simply does not fit insurance which first and foremost is a product, not a service, and which notably is a guaranteed insurance product backed by an insurance company. Taking concepts like best interest and fiduciary duty, or whatever it is ultimately called, which never were intended to apply to the sales of insurance products and now applying them based on some ill-defined desire for a uniform standard is not warranted.

Rather than invasive surgery on a working regulation, the NAIC should consider a swifter and perhaps more effective solution to any remaining gaps is through improved disclosure.

Great Scott! Or should we say Great Scottrade!

While the Scottrade case and these various pronouncements generally are directed at the securities industry, not fixed annuities, the implications are deeply worrisome.  The Fixed Annuity Consumer Choice (FACC) Campaign is concerned these developments prove the U.S. Department of Labor is losing control over the rule and unleashing uncontrolled forces such as hyper-aggressive state regulators and the always profit-hungry plaintiff’s bar that may wreak havoc on the financial services industry.   

TIME TO GET ENGAGED!

No, we don’t mean to your special someone. We mean “get engaged” in our campaign to save the future of fixed indexed annuities! The origin of the word “engage” can be traced back to the early 17th century and comes from the French “engager” which literally means ‘to...

WARNING: DOL HAS NOT YET ISSUED A DELAY!

The FACC Campaign is concerned many agents and distributors are not aware of THREE VITAL FACTS: 1. DOL HAS NOT YET ISSUED A DELAY – the Office of Management & Budget approved the proposed delay in near record time but we have heard nothing formally from DOL as of...

Sign Our Petition to Fix the Treatment of FIAs

Please take one minute to stand up and be heard on the Fiduciary Rule. Please sign a letter of petition to Department of Labor Secretary Alexander Acosta urging him to delay implementation of the Fiduciary Rule exemptions. Join our campaign to extend the transition...

Round and Round We Go (Where We Stop Nobody Knows)

The last few days have seen a flurry of activity!  The most recent new items are:

August 29 – Office of Management & Budget (OMB) approval of the DOL’s request for an 18-month delay to the Rule.
August 30 – DOL issued an official announcement of the delay and has given 15 days for public comment.
August 30 – DOL published Field Assistance Bulletin 2017-03 stating it won’t enforce a provision of the BICE’s arbitration ban.

The silence at the Department of Labor is LOUD

The silence at the Department of Labor is LOUD.   The DOL sent its request for delay to the Office of Management & Budget 12 days ago and since then we have heard nothing.  But, don’t think the silence means that victory is upon us – IT IS NOT! The news of the...

Contact:

Dwight Carter FSA

dwight@fsa4life.com

919-210-7364

Fixed Annuity Choice – Steering Committee

info@fixedannuitychoice.com

Eric Marhoun – F&G Life

eric.mahoun@fglife.com

612-859-1695

Paul Garofoli – National Western Life

pgarofoli@nationalwesternlife.com

Kim O’Brien – AAP

kim@aapnow.com

414-332-9312

Andrew Unkefer – Unkefer & Associates

andy@unkefermail.com

800-523-5851