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re: Do I have a bad financial advisor?

Posted on 2/3/24 at 11:31 am to
Posted by Tig3rman
Member since Aug 2018
242 posts
Posted on 2/3/24 at 11:31 am to
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
This post was edited on 2/3/24 at 11:34 am
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