July 11, 2008
The solution is simple.
Divide agents into two classes.
Registered.
Non registered.
As a registered agent I know how to position equity indexed products.
Non registered agents may not. But having to pass a securities exam may cause unnecessary economic consequences to many groups.
I suggest that non-registered insurance sales people be required to take something akin to the annuities CE every two years to keep up with equity indexed annuities.
Registered reps should be exempt from the non-registered agent's equity indexed annuity exam.
It may be a wise idea to not make it financially complicated, as insurance people and their multifarious agencies are helping, not hurting the non-savy securities public.
Thanks
John Kelso
License 0E36464
626 644-0056
Pasadena, Ca