New Proprietary Report from CUNA Mutual Group Explores How Annuities Can Meet Investor Needs and Their Advisors’ Practice Goals

Jan 12, 2021 Share This 


Annuity_whitepaper_PRMADISON, Wis. – CUNA Mutual Group today published a report based in part on proprietary investment advisor survey data that explores how advisors can optimize their practice and effectively serve their clients by incorporating annuity products into their toolkit.

The report, “Advisors. Annuities. Answers – Rethinking Retirement Planning” describes the fundamental reasons why annuities may make sense for investors in today’s market—low interest rates make it tough to generate income for retirement, and COVID-related market volatility has many investors looking for solutions to control risk—but it also makes the practical business case for how annuities can fit in to the many different types of advisory practices.

“We work with advisors that have different business models, from those who rely heavily on holistic financial planning to those who are more focused on a specific part of their clients financial plan—or maybe they’re somewhere in between” said Martin Powell, head of annuity distribution. “It’s always a straightforward conversation when we talk to advisors about the potential benefits of annuities to their clients, but it’s important we take care to explain the potential benefits to their unique personal business model as well, and that’s going to vary from advisor to advisor.”

The report breaks the advisor universe into three categories and explores the impact annuities may have on each type of practice:

  • For “Planners,” advisors who make detailed financial plans a core part of their service offering, it suggests annuities may offer an opportunity to reengage with current clients and can also provide a competitive differentiator when seeking new ones;
  • For “Transitioners,” transaction-oriented advisors who are migrating to a more planning-based practice, it explores how annuities can serve as a bridge by providing transaction revenue while making the switch;
  • And finally, for “Transactors”—those advisors who take a more active approach to managing their client’s money and may view long-term annuity investments as having a high opportunity cost—it suggests that they can potentially provide “ballast” to client portfolios. In such practices, annuities may provide a reliable source of future income that is less exposed to the ups and downs of the stock market, thereby making clients feel more comfortable taking risk with the balance of their portfolios and less prone to panic selling when the market becomes volatile.

Advisors. Annuities. Answers – Rethinking Retirement Planning” is based in part on proprietary advisor research from Kehrer Bielan, a leading financial services research firm. For a copy of the report call your annuities sales desk at 877.345.GROW (4769), option 1.

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