“There are no bad investments ‘unless they’re bogus.'”
October 1, 2024 by Sheryl J. Moore
Annuity rates are still higher than they have been for more than a decade, so no- annuity sales are not going to wane much.
Here’s what some voices of reason had to say in this piece, Annuities are changing, and so are advisors’ attitudes in InvestmentNews:
“For advisors who ‘hate annuities and would never touch them,’ Terry Parham Jr, MSFP® CFP® ChFC® CLU® RICP® WMCP® asserts they’re showing up to the job and missing a tool as a result. ‘You’re not going to be able to properly serve that person who really wants it and requires it if you’re not willing to have that in your toolkit.’
Sandra Cho is on-the-money when she comments, “there are no bad investments ‘unless they’re bogus.'”
My man Michael Robinson, a business development consultant at Synchronize, by Lockton Affinity, an affiliate of Lockton Companies, highlights that “advisors are increasingly utilizing annuities for various purposes, such as income gap planning, longevity planning, and as a bond alternative.”
RIGHT!
“The growing life expectancy of clients has also heightened the need for strategies that ensure long-term financial security, with annuities emerging as a valuable tool in this regard,” he says.
He adds, “People are asking about longevity. It seems like they’re asking for an annuity, but the question is, are advisors understanding what [clients] are asking for, and what is the best way to use an annuity to de-risk the portfolio?”
Jordan Sowhanger closes with, “A well-rounded financial advisor should, at the very minimum, understand all types of annuities that are able to be offered to clients.”
Can I get an “AMEN?” -sjm
