NAIC Annuity Guidance Updates Divide Insurance and Advisory Groups

Insurance and financial planning groups are divided over expanding guidance tied to the NAIC’s best-interest annuity sales rule, with industry groups supporting the current framework while CFP Board argues it falls short of fiduciary standards. In a comment letter, CFP Board called the rule “fundamentally flawed,” urging regulators to adopt a new model that incorporates fiduciary principles and treats compensation as a material conflict of interest.

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