“The National Association of Fixed Annuities, Milwaukee, has voiced that concern in a member alert…

“NAFA sees the proposal as “a clear attempt to take control – read collect fees - on all product recommendations,” including recommendations involving life insurance, long term care insurance, health insurance, property-casualty insurance, savings accounts and fixed annuities, NAFA officials say.”

http://www.lifeandhealthinsurancenews.com/News/2009/5/Pages/NAFA-Pans-FINRA-Draft.aspx

Maybe the answer is for independent insurance and financial advisors to relinquish S6, S7, etc. registrations and quit selling securities.  Few Americans are truly qualified investors and most annuity buyers are not.

Whole life, health, and annuity products are usually more than adequate to secure the wealth of the typical American and her/his family and they grow and secure family wealth without risk and without worry.

Pretty soon we will allow the Feds take every authority away from us and our freedom will go with them.  Life, health, and annuity agents should not be worried about fixing the system that’s gotten us into the mess we are in now; the same mess that allows the power-hungry in the FED and in DC to grab control.  We should be looking for a “soulution” that lets the state insurance departments maintain authority and control.

Perhaps, therefore, the answer to the ongoing challenge of FINRA and the power-grabbers in DC is to withdraw from their area of control.  The fewer professional insurance and financial advisors (yes, you can be a true financial advisor without any securities registrations) they control, the less power they wield.

Filed under: Ethics and Morals, What others have to say, annuities, annuity, dolts, financial, finra, Health, insurer, Life, risk, saving, savings, undefined, wealth