Variable annuities from Prudential Financial and Jackson National Life received top scores in a new survey of financial advisors, according to a new report.
Cogent Research, Cambridge, Mass., released this finding in a survey of 1,741 registered financial advisors, the survey examining advisor-sold products, preferences and trends across distribution channels. The study, “Advisor Brandscape 2012,” includes assessments of mutual, exchanged-traded fund and variable annuity providers, users and non-users of each carrier brand by product category.
The Cogent survey assigned a “star” designation to Prudential Financial, Newark, N.J., and Jackson National Life, Lansing, Mich., citing the companies’ “brand equity, commitment and ownership.” The insurers trail only RiverSource in terms of revenue earned per advisor.
While MetLife outscored Jackson National in market share among variable annuity users, MetLife’s plans to scale back its VA focus is “likely to reduce its consideration and market share in the future.”