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New York Life is developing new variable annuity products that will be distributed through independent broker-dealers and registered investment advisors. The company is active in the variable annuity market, but to this point they have distributed the variable products through their own career agents. Key themes with the new product include transparency, low cost and simpicity. Source: Investment News Full Story

The Obama Administration is interested in reform that would remove some of the conflicts of interest that exist in the world of financial advice. Financial planners, however, are concerned that these regulatory proposals which are intended to impose fiduciary obligations on all types of financial advisors may result in overall standards that are less stringent than what currently exists. Current fiduciary standards apply to an advisory account and largely impact registered investment advisors (...