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Life Health > Annuities

A new disclosure statement?

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As if the legal eagles in the compliance department hadn’t already complicated life enough, some firms are considering requiring advisors to furnish clients with disclosure statements confirming that they discussed products and strategies for protecting principal and guaranteeing income in retirement.
Call it a sign of the times “We’re talking with our attorneys now about developing a disclosure statement specifying that, ‘Yes, we talked to you, the client, about these opportunities that are available to protect your principal and your Income,’” says John Freiburger, principal at Partners Wealth Management in Naperville, Ill. “Our attorneys are telling us they are wary of situations where someone, like the child of a client, comes to us and asks, ‘Did you even have a conversation with my parents about anything that provides guaranteed protection of principal or guaranteed income?’ This would give us a piece of paper that shows we did so.”


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