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re: Do I have a bad financial advisor?
Posted on 2/3/24 at 11:31 am to slackster
Posted on 2/3/24 at 11:31 am to slackster
I am a licensed banker and as interest rates have gone up, i have sold several wealthy bank clients large fixed annuities funded with nonqualified dollars. They love the guaranteed rate, term, and tax deferral features. I even had one roughly 65 yr old guy that was tired of his retirement being
subjected to market risk so we put his funds into a 5 yr qualified annuity at 5% and he is happy. I have had FAs tell me they would never sell anyone an annuity, that it is a selfish move. What's your take? (these fixed annuities have all been feeless).
Edited to say all of these annuities were sold to folks over 60
subjected to market risk so we put his funds into a 5 yr qualified annuity at 5% and he is happy. I have had FAs tell me they would never sell anyone an annuity, that it is a selfish move. What's your take? (these fixed annuities have all been feeless).
Edited to say all of these annuities were sold to folks over 60
This post was edited on 2/3/24 at 11:34 am
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