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Article: Navigating VAs: It's hard to keep up with all the shape-shifting riders and fluctuating expenses in variable annuities. Here's a little help.
- Article from:
- Banking Wire
- Article date:
- October 25, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Annuities are usually a big part of a bank consultant's sales, but they're getting so complex, it's challenging to keep up with the changes. "There are so many annuities out there that if you don't focus on a few, you'll be confused as an advisor and that's bad for the client," says Patrick Varney, a Raymond James advisor at the Bank of Colorado in Windsor, Colo. That about sums it up. Varney has narrowed his recommendations to AIG and ING annuities. But it took him four or five months working with an AIG wholesaler before he felt fully comfortable understanding and recommending its products.
And the tinkering with products is constant. Just this year, ING ...