Could Fee-Based Annuities Entice More Advisors To Sell Them?
November 6, 2016 by Cyril Tuohy
Financial advisors who avoid commission-based annuities could be drawn to selling more annuities as insurers repackage them into fee-based products to comply with fiduciary regulations. That’s the word from the chief executive of Lincoln Financial Group, a major seller of variable annuities.
“With fee-based annuities currently representing a small portion of industry sales, we see this as a big distribution growth opportunity,” Dennis R. Glass, president and CEO of Lincoln Financial Group, said in a conference call with analysts.
Lincoln Financial was the No. 7 seller of annuities in the U.S. as of June 30, with sales of $4.6 billion in the first six months of the year. The bulk of those sales — $3.5 billion worth — was in variable annuities.
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