While interest in secondary market annuities and structured settlements is higher than ever before, strong resistance among traditional financial advisors mean that many investors and retirees are missing out high yield, guaranteed incomes in this previously hidden sector of the financial landscape, according to SecondaryMarketAnnuity.net.
SecondaryMarketAnnuity.net believe that part of the reason stems from lack of knowledge about secondary market annuities. They said that: "Many clients ask advisors what they think about secondary market annuities, when they know nothing about. It’s pretty certain they will have resistance and misunderstanding."
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However, they suggested that advisors are intentionally misleading potential investor and clients out of pure self-interest.
They said: "Most advisors would look at any allocation investors make to a fixed income annuity as assets not under their management, and therefore as assets they can’t charge an annual fee on.
"Although this may seem cynical, they believe there is an element of truth to it and the prime reason why hostility towards annuities among advisors remains strong.
"Traditional money people don’t like annuities. It really boils down to money. Individuals in their 50’s and 60’s should be looking at annuities and positively not losing any money on other risky investments."
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By GlobalData
