Does low knowledge of annuities help explain low adoption among advisors?
September 19, 2023 by David Blanchett
As advisors’ knowledge about annuities increases, so does their perception of these products.
Click HERE to read the full story via InvestmentNews
Wink’s Moore on the Market:
My buddy David Blanchett is dropping some annuity knowledge this morning.
Recent research indicates “advisors with low knowledge of annuities don’t think there is interest and therefore demand for annuities from clients, while the data show there is.”
YES!!
In fact, “as annuity knowledge increases, so does the perception of these products, as well as the probability of considering them for clients.”
What do you think about that?!?
But conversely-
“…advisors who admit to not knowing much about annuities are also less likely to view annuities favorably and less likely to recommend them to a client.”
Not surprising.
What concerns me is that “…advisors who don’t understand annuities don’t perceive any interest from clients.”
The bottom line?
“The need for better financial advisor education about annuities is very likely an important step first step in exponentially growing the use of annuities in retirement income plans today.”
Who’s in it with me? -sjm
