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February 18, 2005
Who Are The Advocates For Annuities?
Jim Essert says I am a "numbskull" and that I am wrong on Equity Index Annuities.
Jim, do you sell annuities? (As if I have to ask!)
Why is it that the only advocates for annuities are those selling them? Where are the customers singing their praises if they are so good? Show me a customer evangelist for annuities.
Where are the advocates in the financial press? Show me a financial writer (that doesn't sell them or have a financial self interest) that thinks they are a good deal for the customer.
Why does the Securities Exchange Commission, the National Association of Securities Dealers and the North American Securities Administrators Association consistently list the sale of annuities on their list of scams?
Why are Elliott Spitzer and the SEC investingating companies like Prudential (among others) for the inappropriate sale of annuities?
I am not saying they are never appropriate. There are limited cases where they may be. I am saying beware - read the fine print - they are consistently oversold.
But I do find it telling that the only people advocating annuities are the people getting rich by selling them.
Kim Snider, Kim Snider Financial Communications, Chronim Investments and/or Snider Advisors make no representation that the information and opinions expressed are accurate, complete or current. The opinions expressed should not be construed as financial, legal, tax, or other advice and are provided for informational purposes only. Call 866-952-0100 to request the Snider Investment Method™ Owner's Manual, which includes a description of the Snider Investment Method, investment objectives, risks, suitability and other information. Please read and consider carefully before investing. All investments are subject to risk including possible loss of principal.
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Kim Snider is an author, speaker and host of Financial Success Coaching, Saturdays at noon, on KRLD Newsradio 1080, Dallas - Fort Worth. This blog is primarily devoted to empowering individual investors with information to help them be good stewards of their money. Above all, it is about achieving true financial success. Kim's book, How To Be the Family CFO: Four Simple Steps to Put Your Financial House in Order is in bookstores now. Order yours from Amazon or other fine booksellers today.
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