An Agent Asks - What Should I Recommend Instead of EIAs?

Q. I am an insurance agent and have been approached by several companies to sell the Equity Indexed Annuities. I am not a fan at all of annuities, what else could I or should I recommend? Rick



A. Rick, thanks for your email. It is great to hear from other advisors that are more concerned about doing what is right for their clients instead of what is in their own best interest.

For insurance agents, there aren't many alternatives to Equity Indexed Annuities. If you are wanting to help your clients and others with their investments then it is important that you be able to offer investments like stocks, bonds, mutual funds, real estate, etc. This can be done either by getting your securities licenses and being involved with a broker/dealer, or you can become a Registered Investment Advisor and not have the stringent licensing requirements.

The difference is that an RIA cannot sell investment products for commission. You can still keep your insurance license and sell insurance products for commission.

I'd be happy to help in any way I can.

Your posted comments on this and other questions are welcome.
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