The national association for Fixed Annuities is leading the charge to make sure annuity products are fairly represented in mainstream media outlets, writing letters to newspaper editors and commenting on any proposed legislation at the federal level. NAFA also strives to educate consumers, speaking up for advisors who are doing the right thing every day.
NAFA wants consumers to know that seminars are a safe and educational way to learn about the benefits of annuities. The association gives American annuity buyers the following advice:
- Bring a friend or family member to any seminar or first meeting. Advisors should encourage this, too.
- Be wary of one-size-fits-all pitches. Advisors who sell only one product and never turn away a prospect are guilty of using such a motto.
- Check the credentials of any advisor who wants to work with you. Advisors should be willing to answer any questions about their licenses or certifications.
- Don’t sign anything until you have checked the credentials of the advisor and the company whose product is being recommended.
Advisors know their products work in the right situations. But consumers have been exposed to stories of wrongdoing and loss. Putting their minds at ease should be job No. 1 for ethical and caring financial professionals.