Annuity Order System Posts 2018 Advisor Data
The Affirm for Annuities order-entry system handled about seven 2018 orders per advisor user.
Internet Pipeline Inc. (iPipeline) has given the public a peek at transaction volume at its Affirm for Annuities order-entry system.
(Related: Fixed Indexed Annuity Sales Break Records in Q3: LIMRA)
Advisors who sell annuities can use the iPipeline system to meet state and federal annuity sales requirements. Advisors can, for example, use the system to manage annuity transaction suitability reviews.
The Affirm for Annuities system handled 240,000 annuity transactions in 2018 for 35,000 advisors, and those transactions involved $31 billion in deposits, according to iPipeline.
Those figures suggest that the advisor users averaged about seven Affirm for Annuities transactions each in 2018, according to ThinkAdvisor calculations.
The transactions may have involved an average of about $130,000 in deposits each, with an average of about $886,000 in annuity deposit flow per advisor user for all of 2018.
The company reported $16 billion in Affirm for Annuities deposit volume in 2014.
The growth between 2014 and 2018 suggests that volume may have grown an average of about 18% per year over that four-year period, according to ThinkAdvisor calculations.
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