Royal Alliance Agent Annuity Switch Cost Couple $60,000, Mass. Regulators Charge
January 23, 2019
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Levelized compensation would be a good start. One company out there offered two commission options: 5% if the agent sold a fixed interest rate of 3% to the client, or, a 3% commission if they offered the client 5% interest! Why would they even do that? It's like saying to the agent "You can be a fiduciary and offer the higher interest to your client, or, you can be a crook and keep the difference for yourself. Either way, we're fine with it. And why wasn't the company fined for botching their suitability review?