Moving to the dark side

We know how many of you feel about annuities, but stick with us. As cover subject Jeff Karelis notes in our April issue, Financial Planning 101 dictates that every client — and every client situation — is different, to be treated as such. If that’s true, how can an entire product class be wrong for every client?

We’ve spoken with a number of past cover subjects recently, and most now echo Karelis on the annuity question. The Wall Street Journal reports many high-net-worth advisors are beginning to agree. It’s part of the reason immediate annuity sales are hitting a record high. So much of the past frustration centered on complexity and fees, especially with variable products. That’s why simple, streamlined immediate annuity products are now all the rage.