A financial advisor is a professional who works to help their clients meet and manage their most important financial goals in life. A fundamental goal of a financial advisor is to increase the net worth of their clients over time, while protecting them from risks such as loss of income due to disability, premature death and long-term care expenses. Financial advisors will also work with clients in the areas of tax planning, estate planning, and retirement income planning and asset decumulation.
A recent study from Cerulli Associates indicates that registered investment advisors (RIA) are more than hesitant to recommend annuities to their clients.
The report surveys and compares the views of various forms of financial advisors. Not surprisingly, financial advisors’ product views are tightly related to the financial incentives that support their business models. Consider, for example, the following:
