‘Massive opportunity’ for indexed annuity sales growth, panelist says
October 8, 2024 by John Hilton
The soaring star of annuity sales – registered indexed-linked annuities – will continue selling well despite economic uncertainty, a panel agreed today.
And Sarah Garrity of BlackRock knows where a “massive opportunity” lies.
“What we’re not talking enough about is the massive amount of money that’s sitting in money markets,” said Garrity, director of national sales for the annuity distribution team within BlackRock’s Financial Institutions Group.
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Wink’s Moore on the Market: Here’s some perspective for you-
“$20 trillion is currently sitting in money markets…that’s the GDP of all 50 states combined,” noted my dear friend Sarah Garrity at BlackRock.
What an opportunity!
She continues, “Two demographics that we should all be thinking about and going after,” Garrity said. “First, high-net-worth individuals and that emerging younger demographic. And what do those two demographics have in common? [They’re] more conservative.”
Sarah- this comment made me giggle-
“We talk in the world a lot about the bulls and the bears, but what we don’t talk about are the chickens,” she added. “There’s a lot of chickens out there who aren’t quite sure what to do. They want growth, they want a little bit of protection, and that’s something that we can offer.”
Indeed! -sjm
