Brokers International's Mark Williams on the Annuity Market Force to Watch

The current DOL approach would require agents to be securities-licensed in order to sell certain products depending on where the money comes from.

2. How has it been changing?

This has been in the works for over 4 years now going back and forth between presidential administrations.

3. What would you suggest advisors do now or consider doing in the future about it?

The next thing for advisors to do is stay connected to their carrier and FMO partners, become a part of the National Association for Fixed Annuities, and document every sale as best they can.

They should also be using the 84-24 form when it is applicable.

4. Who or what critical source of information do you track, or follow online, to keep up with this or other trends?

We keep in touch with National Association of Insurance Commissioners, NAFA and the legal departments of the insurance carriers we represent.

5. Are you changing any of your work habits at this stage of the pandemic? Why or why not?

My work habits no, but we have offered our employees more flexibility to work from home. Most of our people now work three days at home and two in the office.

6. What's your biggest hobby and what was the last event/activity you did related to it?

I own and work on older cars. I own a 1939 Ford Pickup, 1964 Pontiac GTO, a 1982 Toyota Land Cruiser, and a 1987 Mercedes 560 SL. I often go to car swap meets and car shows showing off the GTO. I recently went to a car show near my home.

7. How about your latest community/charitable activity/event/cause?

I am a member of my synagogue's men's club, and we hosted a fundraiser that was called "Bourbon and BBQ". We grilled and drank and raised money for children — my kind of event.

8. What book are you reading now and why?

I just finished Matthew McConaughey's book "Greenlights" because a friend recommended it. It was a good read and very thought-provoking.

9. Any wisdom you'd like to share with our advisor audience?

Here's one of my favorite sayings, and it is on my wall in my office: "If you are not making mistakes you are not working, just don't make the same mistakes twice."

Mark Williams (Photo: Brokers International)