How did your business fare in the annuity market in 2014 compared with other annuity management providers? According to the Financial Planning Association, 29 percent of financial planners either advised their new clients to choose fixed annuities, or have current clients in fixed annuity vehicles. Four years ago, that number was a high of 49 percent.
Seemingly, this might have been an adjustment made to offset runaway inflation and a slumbering economy.
Now that the economy appears to be recovering, at least from the perspective of the cash-rich corporations, more providers may be viewed as being comfortable with variable annuities.
What Can Your Business Do to Encourage Annuity Investment?
Annuities have traditionally been seen as complex investments that are only for financially savvy movers and shakers. Though it is true that your clients need to enter the annuity market with their eyes wide open, it’s equally true that you could woo even more suitable annuity clients if you use the right approach. Here are some ideas for marketing your company’s annuity packages:
Accentuate the Positive
Often, accentuating the positive is as easy as comparing something with another thing that is less attractive. As the following article shows, why not develop some historical financial charts that highlight the returns based on annuity rates versus the returns on other vehicles such as mutual funds, stocks or even certificates of deposit. You’ll be able to shine a light on the positive aspects of annuities without compromising your ethic to offer a choice of investment options that are appropriate for your client’s financial planning needs.