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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
June 23, 2005 at 08:00 PM
Annuity sales at banks and savings institutions amounted to $4.7 billion in March, unchanged from the total for March 2004.[@@]
Although sales of fixed annuities were weak, sales of variable annuities through banks showed striking gains, according to Kenneth Kehrer Associates, Princeton, N.J.
While FA sales fell 17%, to $2.4 billion, VA sales rose 30%, to $2.3 billion.
Kenneth Kehrer, head of the firm that conducted the study, says a recent increase in fixed indexed annuity sales through financial institutions has helped offset the effects of low interest rates on sales of traditional fixed annuities.
March is typically a strong month for annuity sales because bank customers are thinking about the April 15 tax filing deadline and looking for ways to cut their taxes, says Brad Powell, president of the institutional marketing group at Jackson National Life Insurance Company, Lansing, Mich., the survey sponsor.
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