Brighthouse Goes 'Public' Today as Industry Hits Inflection Point
Brighthouse Financial will mark its first day as a public company today as the MetLife spinoff prepares to ring the opening bell of the Nasdaq this morning. But this landmark moment stands out as not just a milestone for Brighthouse, but as an inflection point on how the life insurance industry has responded to nearly 10 years of record-low interest rates and tepid economic growth rates, the WSJ reports.
DOL Fiduciary Rule Comments Unearth Deep Unease
Heading into the final day to comment on the Department of Labor’s efforts to enforce its new fiduciary rule on retirement planning, more than 400 letters from a range of different industry players are flowing into the regulator’s coffers. But a few common themes are already becoming apparent, say legal experts and wealth management analysts surveyed by FA-IQ. These include concern about a process some see as prohibitively expensive and too complicated to implement right away.