The vast majority of advisors to defined contribution plans are not recommending in-plan annuities to sponsors, according to new research from LIMRA Secure Retirement Institute.
In the past two years, only 10 percent of the advisors surveyed by LIMRA have recommended an in-plan annuity option for participants.
Overall, only 46 percent of advisors expressed any interest in building guaranteed income products into plan menus. That sentiment changes with so-called mega advisors—those with more than $500 million in DC assets under advisement. In that segment, 83 percent of advisors expressed interest in recommending guaranteed income products, but only about a quarter actually recommended the option.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.