If you sell variable annuities, you’ve probably been here before: You have an ideal candidate for a variable annuity – for example, someone whose income is high but has already maxed out 401(K) contributions; or someone in their late 50s without a traditional pension – but he or she is extremely reluctant to even consider one. Why? As with any financial investment, variable annuities do have their detractors. Most likely your client’s hesitation is due to one of three main objections to … [Read more...]
How to Handle Clients Who Bring up Annuity Fraud
“Didn’t a bunch of people just recently get ripped off by annuities?” You’re bound to hear that question if you’re an investments advisor aggressively selling annuities -- and you should always have an answer. After all, the news media likes exploiting financial fraud, and it’s important that you put your clients at ease if they ever raise the issue. Fortunately, with annuities, fraud is the exception and not the rule, although there are dramatic cases from time to time. Consider this one: … [Read more...]