Author

Karl Hoover

Karl Hoover graduated from Appalachian State University's College of Business with a BSBA major in Marketing. He joined the FIG team in 2001, after a few years of selling Life Insurance to the Mortgage markets here in North Carolina and Northern Virginia. This experience enabled him to understand the commission based business, and the importance of product support and knowledge from a good FMO. He has been helping quality advisors reach their goals for over a decade now.

    Business Development

    The Best Insurance Marketing Organizations: Business Partner or Vendor?

    by Karl Hoover
    written by Karl Hoover

    Updated April 4, 2024, at 11:08 AM

    Choosing the Best Insurance Marketing Organization

    Over my 20-plus year career in the financial services industry, I’ve had the opportunity to see the industry grow and evolve in so many ways. For example:

    • In the late 1990s, I saw variable annuities (VAs) become a popular retirement and investment vehicle.
    • In the 2000s there was tremendous growth and innovation in exchange traded funds (ETFs). And in the world of annuities, I saw the creation of withdrawal benefit and lifetime income benefit riders that fueled the expansion of the variable annuity marketplace.
    • Since the financial crisis of 2008, there has been a convergence between variable annuities and fixed indexed annuities (FIAs). The annuity industry has seen a steady decline in VA market share while, at the same time, a steady increase in FIA market share. There are numerous factors that contributed to these trends. For starters, an aging retiree population that prefers guarantees over growth potential. Innovation in FIA-crediting strategies and living benefit riders, along with FIAs gaining wider acceptance also play a role.
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