Recently, LifeHealthPro.com broadcast a webinar entitled, “2012 Opportunities in Annuities.” Panelists included: Ryan Pinney, vice president of brokerage sales for Pinney Insurance Center in Roseville, Calif.; Alan Schuh, president of Alan Schuh & Associates LLC in Weston, Fla.; and Kirk Wilkerson, a Forest City, N.C.-based registered representative and investment advisor representative who offers securities and investment advisory services through AXA Advisors LLC. Moderating the event was Brian Anderson, editor of Life Insurance Selling, a publication of Summit Business Media, the parent company of LifeHealthPro.com.
The discussion ranged from product mix, annuity features like guarantees as well as sales and marketing. However, the panelists also talked about the case of Glenn Neasham, the California insurance agent recently convicted of felony theft for selling an annuity to an 83-year-old client. The consensus was that the case underscores the need for a more rigorous suitability review, particularly with senior clients.