As I write this, it’s been a couple of weeks since the Securities and Exchange Commission voted 3-0 to define equity indexed annuities as securities and I have noticed something pretty quickly: whichever side of this debate you’ve taken, you’re not taking it lying down.
Soon after the news hit, I posted a blog about the SEC’s proposal at www.SeniorMarketAdvisor.com.
I guess the subject matter hit a nerve. Nearly two dozen responses to the blog came back to our Web site. While the opinions varied, they were not meek in their tone. A few of the posts have been included in our Feedback section on page 20. You can read the rest of them online.
In reading the posts, I’m finding consistent themes: some blame industry lobbying groups for dropping the ball and not keeping them informed; others say advisors should buck up and get the necessary licensing and “quit their whining.”
For me, I’m staying as impartial as is possible, the Switzerland of this debate, trying to digest the information as it becomes available, using this platform of the publication and the Web site as a sounding board for you to provide and receive information on the subject.