In this paper, Distribution Disruption: Impacts of the Department of Labor Fiduciary Standard for US Life Insurers, we summarize our views which we have validated through a series of interviews and discussions with a cross-section of industry leaders and subject matter experts. We believe that insurers should be considering the standard carefully, quantifying exposures under a range of impact scenarios and developing strategic plans around portfolio strategy, distribution and product innovations.
Authors:
Mick Moloney – Partner in the Americas Insurance Practice
Ramy Tadros, – Partner and Head of the Americas Insurance Practice
David Clarkson – Partner in the EMEA Wealth & Asset Management Practice
Anthony Bice – Partner in the Australia Insurance Practice
The Department of Labor’s latest proposal to expand the definition of a fiduciary under the Employee Retirement Income Security Act (ERISA) will cause significant disruption to the advice landscape surrounding 401K rollovers and IRAs and will have substantial knock-on effects for retail insurance distribution channels generally.
Related Insights
-
Insights Turning A Crisis Into A Catalyst For Change Ferran Reverter Planet is Chief Executive Officer of the MediaMarktSaturn Retail Group, Europe’s leading consumer electronics retailer. -
Insights Social Justice, Financial Regulation, and The Biden Administration Social justice was a key campaign theme for President Joe Biden. There is every reason to believe this theme will be applied to financial regulation. -
Insights Bringing Omnichannel Beauty to the Next Level Interview with Maggie Chan, Greater China Managing Director at Sephora -
Podcast Hydrogen For The Long Haul What possible solutions are there to reduce emissions or de-carbonize road transport?