Small proportion of advisors make majority of VA salesPosted by RJ and Makay on Jul 11, 2011 |
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A relatively small percentage of financial advisors sell 12 or more variable annuity (VA) contracts per year, and those advisors make a substantial majority of total VA sales, according to Cerulli Associates, Inc. A recent annuities and insurance report by the Boston-based research firm found that only 18% of financial advisors annually sell 12 or more VA contracts, and that those advisors account for 68% of total annual VA sales.
AIG’s Advisor Group has introduced a 100% payout for big RIAs as part of a massive revamping of its fee-based platform. The new program is for RIAs with more than $100 million in assets under management. The Advisor Group’s VISION 2020 Wealth Management platform, integrated onto Envestnet’s standard platform, slashes platform fees by 15% to 40% depending on advisors’ business and size relationship.
