“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.
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