Whether it’s from friends, family or co-workers, we’ve all heard the saying before: the only constant is change. This is especially true in the new year, as producers nationwide are reflecting on past results and adapting their sales strategies. As you settle into 2019, consider altering your sales approach based on the current economic climate.
With the market fluctuating wildly and talks of recession on the horizon, 2019 may be an unpredictable year. Despite these uncertainties, one thing is clear — we’re entering unstable times. With so much up in the air, the best-selling strategies may revolve around financial products that offer stability and concrete gains.
Here are four reasons why recommending annuities is a solid tactic that will simultaneously satisfy clients and grow your business.
1. Annuities are safe when the market isn’t.
It’s no secret that the market is entering a new period of unpredictability. With a steadily escalating trade dispute, rising international tariffs and increasing interest rates, investors are trading more conservatively — which is having a demonstrable impact on the market. At the same time, the economy is still prospering, with a 3.9% unemployment rate and an additional 312,000 jobs added in December, according to the U.S. Bureau of Labor Statistics.
The ongoing market volatility is of particular importance to producers and clients alike. For years, the stock market has been steadily increasing alongside a strong American economy, and investors have faced very little uncertainty. However, in the past few months alone, the stock market has swung wildly in both directions, with pre-holiday trading at a year-end low and new-year markets seeing record highs.