173 - Making In-Plan Annuities a Reality with Michelle Richter and Mark Chamberlain - 2 of 2

In part 2 of 2 Michelle lays out her proposal for revamping the web of state and federals rules and laws to make in-plan annuities a vibrant market in the future. Here's the full text of her discussion: Heads up to SOA, NAIFA, IRI, any other industry group- mark this moment as the point where contacts you have at these organizations should start listening. Big bold assertion #1: Non-codification of verb sales in insurance means that intellectual property (inventions) can’t have value in insurance Why is this true?  Assertion 2. The above-mentioned fact (Ip can’t have value in insurance) is true because of the intersection between how products sell and how trademark law works. I will explain further in a moment. Assertion 3. IP having value is fundamental to the functioning of capitalism. Assertion 4. In a demutualized world where insurance manufacturing is now entirely vertically disintegrated from distribution, IP can only come to have value by codifying insurance advisement as a scalable, oversee-able, nationally regulated discipline So we are proving assertion 1- IP has no value in my domain- by proving assertions 2-4 So let’s start with assertion 2 part 1: how do products sell. To understand this, we need first to define both the word “product” and then the word “sell.” Products are nouns. In the context of insurance and financial services, products are issuable containers, and their distribution is highly regulated. Products are issuable legal contracts within which IP can be embedded, and in exchange for the distribution of which compensation can be paid to an FP in respect of either, but never concurrently, a or b. A is from inside the noun in direct respect to sale thereof (this refers to agency and brokerage) whereas b is charged upon the AUA/AUM thereformed following a product’s intro into an advised portfolio (b refers to RIA channel). Now that we know what product means, we move on to sell. Sell means the exchange of remuneration in direct respect to [x- x is a verb in the RIA channel and it’s a noun