Do Financial Advisors Recommend Annuities Here are some common reasons why financial advisors may push annuities Commission Based Compensation Financial advisors typically earn a commission on the sale of annuities This commission can be substantial and provides a significant incentive for advisors to recommend annuities as part of their clients investment portfolios
Two thirds of advisors surveyed said they recommend annuities for less than half of retired clients while 12 said they do so for at least 75 Further those recommendations may often fall flat The Wealth AdvisorContributor April 6 2021 New research from University of Melbourne researchers has identified two reasons why financial advisers don t recommend annuities to their clients Orford Initiative s latest findings found advisers play a key role in recommending annuities but face barriers in doing so
Do Financial Advisors Recommend Annuities
Do Financial Advisors Recommend Annuities
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Annuities Just Say No Marotta On Money
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Financial Advisors Personal Finance Why Advisors are Recommending Annuities More and More April 08 2021 08 39 pm EDT and do so with less risk annuities variable annuities Consider saying yes to annuities If you are someone approaching retirement who wants to grow and protect your retirement income or simply wants to keep some of your money out of the market
About 10 percent of individuals age 65 will survive past age 95 among those with over 100 000 in financial assets This population is the one most likely to use the services of a financial professional 4 Most professionals who do suggest annuitization recommend variable annuities with a guaranteed income rider Commissions can range from 1 to 10 depending on the type of annuity The simpler the annuity the lower the commission he says Likewise the longer the surrender period and more complex the
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Shawn Plummer is CEO at The Annuity Expert and has been a licensed financial professional focusing on annuities and insurance for more than a decade His former role was training financial The share of advisors who would not recommend an annuity is shrinking according to a survey by RetireOne and Protective Life Advisors are more likely to recommend CDs than fixed or fixed indexed
Investors and financial advisors might find annuity fees troubling Brabham says nor do we recommend or advise individuals or to buy or sell particular stocks or securities Here s the catch The more benefits you add the higher the cost for the consumer High expenses dampen returns For instance the average all in cost of a B share variable annuity is 2 366
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Do Financial Advisors Recommend Annuities - Financial advisors sometimes have a reputation for following the flavor of the week when it comes to the investment products that they recommend to their clients Often this is an effort to chase positive returns in a low return environment And increasingly that attitude is leading them to recommend and discuss the pros and cons annuity