The Investment News just released data on the variable annuity sales at independent broker-dealers. As you can see from the chart attached below, the data demonstrates that the sale of variable annuities at independent broker-dealers continues to rise.
Variable annuities, while appropriate for some investors in the appropriate amounts, can be unsuitable for certain investors (in particular, retired investors concerned with present income for expenses). Due to the high commissions that financial advisors make in recommending variable annuities, the improper sale of variable annuities is one of the most common types of securities frauds (as advisors often recommend the product to investors that do not need the tax and death benefits offered by the product).
If you have questions about a variable annuity sold to you, The White Law Group may be able to help.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. To speak with a securities attorney, please call 312-238-9650.
For more information on The White Law Group, please visit the firm’s website at http://whitesecuritieslaw.com.
| Company | 2010 indie B-D sales ($M) | 2009 indie B-D sales ($M) | 2010 % of total sales* | 2009 % of total sales* | |
|---|---|---|---|---|---|
| 1 | Jackson National | $9,094.8 | $6,711.5 | 66.2% | 64.0% |
| 2 | Prudential Financial | $8,172.8 | $8,372.4 | 51.6% | 53.8% |
| 3 | MetLife | $7,467.7 | $4,624.2 | 33.9% | 34.1% |
| 4 | Lincoln Financial Group | $3,307.7 | $3,074.7 | 46.1% | 46.5% |
| 5 | AEGON/Transamerica | $2,018.9 | $1,606.7 | 50.5% | 56.6% |
| 6 | Allianz Life | $1,973.5 | $1,657.0 | 68.6% | 72.2% |
| 7 | Nationwide | $1,919.8 | $1,326.2 | 34.7% | 34.4% |
| 8 | Pacific Life | $1,157.1 | $1,053.0 | 45.1% | 50.7% |
| 9 | SunAmerica/VALIC | $1,022.4 | $662.8 | 17.1% | 14.6% |
| 10 | Sun Life Financial | $814.2 | $924.3 | 34.8% | 36.6% |
| 11 | John Hancock | $771.1 | $999.7 | 52.8% | 48.8% |
| 12 | AXA Equitable | $540.3 | $519.9 | 10.3% | 10.7% |
| 13 | Hartford | $364.1 | $443.1 | 52.6% | 38.4% |
| 14 | Guardian | $346.4 | $239.9 | 42.4% | 42.5% |
| 15 | Ohio National | $315.2 | $397.7 | 26.5% | 34.3% |
| 16 | Minnesota Life | $227.3 | $316.9 | 100.0% | 100.0% |
| 17 | UNIFI Companies | $177.9 | $147.3 | 100.0% | 100.0% |
| 18 | ING Group | $176.2 | $363.5 | 12.2% | 19.7% |
| 19 | Security Benefit | $172.6 | $176.1 | 98.8% | 100.0% |
| 20 | Western Southern | $53.7 | N/A | 79.8% | 0.0% |
| 21 | Annuity Investors | $52.0 | $55.4 | 100.0% | 100.0% |
| 22 | Symetra | $39.5 | $37.1 | 99.2% | 99.7% |
| 23 | Ameriprise Financial | $14.3 | $222.1 | 0.3% | 5.1% |
| 24 | Massachusetts Mutual | $14.1 | $25.2 | 2.5% | 3.9% |
| 25 | Phoenix Life | $13.4 | $22.5 | 78.4% | 84.0% |
