Now that the dust is settling on the recent DoL ruling, some advisors will have to start planning where their career will be heading next — especially those whose income relies heavily on commissioned variable insurance products.

In reading various government articles and talking with advisors in various fee models, it’s become apparent that an advisor earning a high single-figure commission from a variable annuity product should become a thing of the past. As variable annuities now fall under BIC exemption, the disclosure requirements have become stricter, as have the contracts and accompanying compensation structures. All income derived from these products sales will need to be made clear and transparent for the client.

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