Over the past 2 years, about one-third of independent insurance producers have given up their Series 6 licenses.
Researchers at LIMRA International, Windsor, Conn., have reported that finding in a summary of results from a new independent producer survey.
The Financial Industry Regulatory Authority Inc., Washington, issues Series 6 licenses to producers who want to sell mutual funds and annuities.
About 80% of producers hold at least one FINRA license, but they say complying with Series 6 regulations has become too burdensome, the LIMRA researchers report.
The researchers also cover topics such as how agents get compliance information and what they think about the quality of the compliance information they receive.