Brokers International's Mark Williams on the Annuity Market Force to Watch

Mark Williams says anyone involved in helping clients with annuities right now had better be paying close attention to Washington.

Williams is CEO of Brokers International — a 36-year-old Urbandale, Iowa-based annuity and life field marketing organization that is now part of Integrity Marketing.

Brokers International can offer insurance agencies and financial advisory firms a wide range of support services, and it has distribution relationships with more than 40 different insurers, including AIG and Voya.

Williams has a bachelor’s degree from the University of Phoenix. From 1987 through 1991, he was an officer in special forces marine units with the Israeli Defense Forces.

Early on, he worked in insurance sales and marketing at Allianz Life, the Hartford and GamePlan Financial Marketing.

In 2014, he joined Brokers International as the company’s chief sales officer.

The company named him president and CEO in 2016.

Last year, he published the book “Lead, Don’t Manage: 12 Lessons in Creating a Leadership Culture Based on Core Values.”

Via email, we asked Williams a set of questions that touch both on his professional knowledge and on what he does off the clock.

1. What market indicator, industry statistic, regulatory change or advisor trend are you watching most closely right now and why?

The thing that we are watching the most is the possible regulatory change from the U.S. Department of Labor over the best interest standard and fiduciary rules with respect to qualified funds.

There are currently two exemptions, 84-24 and 20-02, that have the ability to change the selling landscape for the entire industry.

The current DOL approach would require agents to be securities-licensed in order to sell certain products depending on where the money comes from.

2. How has it been changing?

This has been in the works for over 4 years now going back and forth between presidential administrations.

3. What would you suggest advisors do now or consider doing in the future about it?

The next thing for advisors to do is stay connected to their carrier and FMO partners, become a part of the National Association for Fixed Annuities, and document every sale as best they can.

They should also be using the 84-24 form when it is applicable.

4. Who or what critical source of information do you track, or follow online, to keep up with this or other trends?

We keep in touch with National Association of Insurance Commissioners, NAFA and the legal departments of the insurance carriers we represent.

5. Are you changing any of your work habits at this stage of the pandemic? Why or why not?

My work habits no, but we have offered our employees more flexibility to work from home. Most of our people now work three days at home and two in the office.

6. What’s your biggest hobby and what was the last event/activity you did related to it?

I own and work on older cars. I own a 1939 Ford Pickup, 1964 Pontiac GTO, a 1982 Toyota Land Cruiser, and a 1987 Mercedes 560 SL. I often go to car swap meets and car shows showing off the GTO. I recently went to a car show near my home.

7. How about your latest community/charitable activity/event/cause?

I am a member of my synagogue’s men’s club, and we hosted a fundraiser that was called “Bourbon and BBQ”. We grilled and drank and raised money for children — my kind of event.

8. What book are you reading now and why?

I just finished Matthew McConaughey’s book “Greenlights” because a friend recommended it. It was a good read and very thought-provoking.

9. Any wisdom you’d like to share with our advisor audience?

Here’s one of my favorite sayings, and it is on my wall in my office: “If you are not making mistakes you are not working, just don’t make the same mistakes twice.”

Mark Williams (Photo: Brokers International)