The punctilio of propriety: observations on ethics and financial services

Article Abstract:

The life insurance industry should commit itself to the ethical paradigm of the self-interested advisor and examine how its business behavior influences unethical sales practices. Already the industry has a tarnished reputation, for its efforts toward defining ethical sales practices lack consensus. Neither caveat emptor nor the attorney's fiduciary standard are appropriate, and the self-interested advisor standard, though perhaps the best, is challenging. Three scenarios are explored.

Standards, Financial services industry, Insurance industry, Ethical aspects, Duty of care (Law)

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Retirement savings: a consumer perspective

Article Abstract:

Consumers need financial planners to assist them in finding the best ways to save for retirement. First, the financial planner must understand the mindset of the average American. The majority of Americans think they will have enough money for retirement, but many are not saving enough to fund their retirement. Employees would benefit from participating in workplace retirement plans, such as popular 401(k) plans.

Financial Services, Finance and Insurance, Services, Financial planners

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Annuity tax and planning considerations

Article Abstract:

Nonqualified annuities are becoming more popular as a means of accumulating tax-deferred funds to supplement retirement income. Annuity payments are received partially as a tax-free return of investment and partially as ordinary income. However, in relation to early distributions, death benefits and estate taxes, a life insurance contract offers tax advantages over an annuity.

Taxation, Annuities

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