Axa, Lincoln, MetLife wholesalers will be personae non grata; cap on commissions planned
Ameriprise Financial Inc.'s plan to open its brokerage platform to outside variable annuities falls short of the open architecture favored by other independent broker-dealers.
The move, which is expected to occur by the end of the second quarter, is apparently aimed in part at boosting Ameriprise's ability to recruit independent-contractor registered representatives and financial advisers. Such advisers are often big sellers of variable annuities and consider the in-vestment options available to them carefully before changing firms...
Investment News: Open VA platform at Ameriprise may be less than open