Advisor Annuity Conversations Often Lead to Transactions: Global Atlantic

Moderately affluent retirement-age U.S. residents who talk to their financial professionals about annuities often end up moving cash into annuities.

About 47% of the clients surveyed said they had had conversations with their financial professionals about annuities.

Just 9% of the clients in that group dropped their annuities as a result of the conversations; 52% ended up buying annuities or adding cash to in-force annuities.

A team at Global Atlantic put data on those findings in a new report summarizing the results from an online survey of 1,018 U.S. retirement savers ages 55 through 75.

What it means: About one-quarter of financial professionals’ moderately affluent clients believe they have made more use of annuities because of interactions with their financial professionals.

The survey: All of the survey participants had life insurance agents, investment advisors, financial planners or other investment professionals, and they all had $250,000 to $1 million in investable assets.

All participating households had an individual retirement account, a 401(k) plan account or a mutual fund or brokerage arrangement.