On February 4, 2013, the SEC filed suit against Richard K. Olive and Susan L. Olive in the Southern District of Florida in a charitable-gift-annuity scheme. The Olives allegedly drew $75 million from more than 400 investors in at least 30 states. In March of 2008 the Olives took over the inactive nonprofit, We The…
According to a recent article in InvestmentNews entitled, Back to square one, insurance issuers have started changing the terms to in-force variable annuity (VA) contracts. These changes are detrimental to policyholders because they take away some of the benefits which caused the policyholder to purchase the VA in the first place. For example, according to…
It is no secret that the financial markets are down and investors are looking for safe investments. It is also no secret that interest rates on CDs and money market account are very low. The combination of volatile markets and a low interest rate environments create a perfect storm for sales pitches related to deferred…