What Advisors, BDs Should Do About Ohio National’s End of Trailing Commissions
November 20, 2018 By Jon Henschen, ThinkAdvisor The insurance company's decision to stop trails on variable annuities is now the target of numerous lawsuits, which could spread like wildfire through the industry. Ohio National’s decision to stop trail payments has started a wave of legal actions — and this is before the change is set to take effect on Dec. 12, 2018. Here’s a list of some of the legal actions being taken against Ohio National: LPL Financial representative Lance Browning filed a lawsuit in federal district court; Veritas Independent Partners filed a lawsuit in federal district court; Commonwealth Financial Network has filed a lawsuit as well as an arbitration claim; Cetera Advisor Networks and First Allied filed suit, claiming breach of contractual obligations for Ohio National’s failure to pay millions of dollars in compensation;...