In Defence of Advisors Who Sell Variable Annuities

no-exit

“How could my financial advisor have done this to me?” 

Many ask this question after they buy a variable annuity. 

You’ve heard that most of these products are nasty. Some say high fees burden them. Others complain that they’re inflexible. They penalize investors who try to sell before a predetermined date.

Wall Street Journal writer Matthias Rieker says that many people file complaints about variable annuity sales. 

Ken Fisher, writing for Forbes, recently called them “scumbag products.” 

But I’m going to defend the advisors selling them.  Somebody has to.

Image courtesy of pixabay.com

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Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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