Survey Reveals Clients Love Annuities, Hesitant to Buy
March 10, 2017 by Cyril Tuohy
Retirees and pre-retirees overwhelmingly want their financial advisors to present them with a palate of retirement income strategies, but few advisors actually do, a new survey found.
Consumers also believe financial advisors have a responsibility and a duty to present them with financial products that provide guaranteed lifetime income, according to the 3rd Annual Guaranteed Lifetime Income Study of 1,105 retirees and pre-retirees.
The gap between what consumers say they want and what consumers say advisors are giving them is a sign of a stubborn “disconnect” between what annuities can provide and what consumers say they want, said Doug Kincaid, research director for Greenwald & Associates, which conducted the study.
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