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Fly News Breaks for April 7, 2016
AEL, PFG, LNC, AMP, WDR
Apr 7, 2016 | 08:03 EDT
After the Department of Labor announced a fiduciary rule change for indexed annuities, RBC Capital believes that sales of Waddell (WDR) funds will decline as a result of the rule change, while the company may have to increase the compensation it pays its advisors to make up for the compensation they will lose due to the rule change. The firm estimates that the company's EPS could drop to $2.74 from its current level of about $3. RBC adds that the rule will have an immaterial impact on the other insurance companies it covers - Ameriprise (AMP), Lincoln National (LNC), Principal Financial (PFG), and American Equity (AEL).
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