One of the failures of financial regulations, including the Department of Labor Fiduciary Rule, has been the problem of addressing actual wrongdoers. While pro-regulation consumer groups have a lot to say when it comes to investment fees, they have made virtually no progress that I can see in reigning in one of the industry’s worst offender – Equity-Indexed Annuity (EIA) firms. In fact, I think these investments may just be the modern Ponzi scheme based on a client review that I’ll detail below. To start the case against the EIA industry I typically detail my experiences with the culture of the firms and agents. For the last four months we have been trying to remove her money from the grasp of a widely used EIA provider.

Source: Forbes January 20, 2018 19:07 UTC