Buried inside this article blasting annuity sales practices is an example of someone using a living trust gambit to gain the confidence of prospect before closing an annuity sale.
How common is this practice? How can you fight back?
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Notes for trust officers, private bankers and others concerned with estate and trust planning, from a Merrill Anderson Senior Editor and his retired mentor.
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1 comment:
Fight back? That's a job for law enforcement, not for legitimate wealth managers.
Some sellers of trust kits have been apprehended, I believe.
Unfortunately, annuity sales are basically unregulated because the people flogging the annuities are "insurance agents" and so can fly under the SEC's radar.
Let's hope that affluent seniors are smart enough to learn from their neighbors' mistakes. If so, they'll seek out legitimate financial planners to do business with,
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