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Do Financial Professionals Recommend Annuities?

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  • Karolos Arapakis
  • Gal Wettstein

Abstract

While annuities offer retirees guaranteed lifetime income, few people have them. A new survey asked financial professionals about the value of annuities for their clients. The results suggest that financial professionals are concerned that many of their clients could deplete their savings too quickly. But the majority of them do not recommend annuities to their clients and, when they do, many clients do not take the advice. These findings point to both the promise and limitations of reliance on financial professionals to guide clients to greater use of annuities.

Suggested Citation

  • Karolos Arapakis & Gal Wettstein, 2023. "Do Financial Professionals Recommend Annuities?," Issues in Brief ib2023-26, Center for Retirement Research.
    • Handle: RePEc:crr:issbrf:ib2023-26
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    File URL: https://crr.bc.edu/do-financial-professionals-recommend-annuities/
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