Why We Can Hate Annuities
We can hate annuities because the broke-dealers sale these financial products even though these investments could be harmful for the customers. Indeed, the broke-dealers do not have any legal obligation to give the best advice in the interest of their customers. Furthermore, they receive fees for each contract concludes. Actually, this is a conflict of interest and there is no law that punishes that factual situation.
Even if the annuity can be seductive through its tax benefits, potential yield and guaranteed incomes, the customer has to be vigilant and think critically. Customers are also advised to speak with an experienced attorney.
Moreover, annuities are not the only solution for customers who want prepare their retirement. There are lots of retirement options like for examples: bank savings account, money market accounts, retirement income funds, laddered bond portfolio, portfolio of index funds, tax managed funds, etc.
The Evans Law Firm in California specializes in annuity and banking fraud, consumer rights, and IRS and SEC cases, as well as elder law, whistleblower, and class action cases. If you believe that you or a loved one may have purchased an annuity under false pretenses, or one that was improperly administered, call Evans Law Firm at (415) 441-8669, or email firstname.lastname@example.org to speak with a San Francisco securities fraud lawyer.