We have all heard that the last place we should look for medical information is on the Internet. Everyone has a story about some friend who found a freckle on their back, took to the Internet, and soon had themselves convinced they had just days to live. We go to doctors for a reason: They are experts in their field.
Financial advisors often find themselves in a similar position. You are also experts in your field, which is why people come to you. But the truth is that many of those same people are searching for information on their own as well. Many of your clients have Googled their financial freckles and have come to some pretty startling conclusions about their investment plans.
One of the biggest casualties of this independent research: annuities. Whether it be from media sources, traditional mindsets or just plain bogus ideas, there is an incredible number of myths running rampant in the mind of your clients. It can be hard when people walk into your office with a diagnosis in mind to convince them that annuities can be a perfectly healthy investment.