Indexed-annuity crusader

Sheryl J. Moore is mad as hell at the media, and she's not going to take it anymore.
SEP 13, 2009
Sheryl J. Moore is mad as hell at the media, and she's not going to take it anymore. Frustration with the coverage of indexed annuities has spurred Ms. Moore, president and chief executive of Advantage Group Associates Inc., an indexed-annuities research firm, to begin a campaign to call out reporters who produce what she said are inaccurate stories about the products. She has written to reporters, but as part of her new campaign, paid subscribers to her website, AnnuitySpecs, will get a copy of the offending media and her responses. Subscribers to Ms. Moore' annuity sales and product specification data include agents, independent-marketing organizations and insurers. One of her most recent volleys took aim at a Sept. 2 article, “How Well Do You Know ... Indexed Annuities?” that appeared in The Wall Street Journal. “I get a response on almost every single comment, whether I'm pointing out errors in The Wall Street Journal or inaccuracies on blogs,” Ms. Moore said. The most common errors she has pointed out include the surrender period for indexed annuities and the commissions brokers get for selling them. “People don't realize that the average surrender period is only 10 years, and the average first year penalty is 10%,” she said. “In the past, there have been indeed annuities that were advertised in trades with longer surrender charges. That's the perception people have of the market — and a lot has changed,” Ms. Moore said. She also noted that the average broker's or agent's commission on indexed annuities was 6.46% as of the second quarter, though a few pay as high as 10%.

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.