(Bloomberg) -- U.S. Senator Elizabeth Warren wants to restrict brokers from winning vacations, luxury cars and golf outings at the expense of retirees.
Warren, a Massachusetts Democrat and prominent Wall Street critic, released a report Tuesday criticizing the largest annuity providers for “kickbacks” or perks they provide for encouraging brokers to sell investments that may be more expensive. The report is based on responses she received from the 15 largest annuity providers such as Prudential Plc’s Jackson National Life after requesting information from them in April.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access