Compliance Alert - Reminder Fixed Indexed Annuities (FIAs) Must Be Sold Through IPI
Some still call these products Equity Indexed Annuities, the more common term used today is Fixed Indexed Annuities (FIAs); either way that you describe this product, Investment Planners, Inc. requires for all FIA applications to be placed through our firm. Failing to use only the FIA products in which IPI has a selling agreement is selling away and a violation of firm procedures that may result in termination of your registrations with IPI.
Prior to this year, we offered one FIA through Voya in which IPI has a selling agreement. Since then we have signed two other selling agreements, one with Allianz and one with Sammons. If you feel that a FIA is suitable for a client, we require that you upload/send to Operations the FIA application along with our FIA Disclosure Form for principal review. The disclosure form is attached and requires an attestation from both you and your client.
I am not recommending any of these products, just providing the information and IPI's policy on their sales. Please find below the contact information to learn more about these products, if interested:
Allianz 222 - is the FIA product approved with Allianz. These must go through the FMO - Clarity 2 Prosperity. David Alison is the contact person for Clarity 2 Prosperity and may be reached at 440-876-7261 or email@example.com
Sammons Retirement Solutions FIA product is the Live Well Fixed Indexed Annuity. You may reach Mike Buchholz at Sammons at 314-406-9346 or firstname.lastname@example.org
Voya Secure Index Five Annuity and Wealth Builder products are available as well. Voya's wholesaler information for FIAs may be found at 800-369-5301 (option #2, #2).