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Article: As insurers gain in wealth management race, hurdles remain high; Need to wed advice, attractive products to score with advisers.(News)
- Article from:
- Investment News
- Article date:
- October 12, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Darla Mercado
In the long battle to position themselves as wealth managers, life insurance companies still have to prove to financial advisers that they can do more than sell annuities.
"There are a number of carriers that have done well in wealth management, including MetLife Inc., Axa [Financial Inc.] and ING [Groep NV], said Garth A. Bernard, president and chief executive of Sharper Financial Group, a consulting firm that specializes in marketing and developing retirement products. "The good news is that on the investment management side, there's been some bloodshed from the impact of the last 18 months.
The economic downturn not ...