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Did You Know?

That, as of the first quarter 2011, the combined net assets of U.S. variable annuities were valued at nearly $1.6 trillion, an 11% increase from first quarter 2010 and the highest level ever recorded?
In 2010 fixed annuity assets were valued at $659 billion a 6% increase from 2009?
That in 2010, the total average expense difference between variable annuities and mutual funds was 1.01%?
In 2011, the contribution limits range from $5,000-$6,000 for an IRA, $16,500-$22,000 for a 401(k) and $200,000 plus for a non-qualified annuity?
That the average number of funds per variable annuity contract was 50 in 2010, of which 47% of assets were invested in equities, 11% in bonds, and 20% in fixed-rate accounts?
That the guaranteed lifetime withdrawal benefit was offered on 79% of variable annuities in 2011 and was elected by 65% of contract holders?
Boomers who own annuities have a higher confidence in retirement expectations, with 92% believing they are doing a good job in preparing for retirement?

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What are the Various Types of Advisors?

03.09.2011

The following is a list of the different types of financial advisors.

Accountant - Accountants provide you with advice on tax matters and help you prepare and submit your tax returns to the Internal Revenue Service. All accountants who practice as Certified Public Accountants (CPAs) must be licensed by the state(s) in which they practice.

Estate Planner - Estate planners provide you with advice on estate taxes or other estate planning issues and put together a strategy to transfer your assets to your beneficiaries. Attorneys, accountants, financial planners, insurance agents or trust bankers may all provide estate-planning services.

Financial Planner - A financial planner is someone who uses the financial planning process to help you figure out how to meet your life goals. The planner can look at all of your needs including budgeting and saving, taxes, investments, insurance and retirement planning.

Insurance Agent - Insurance agents are licensed by the state(s) in which they practice to sell life, health, annuity and other insurance products. Financial planners may identify and advise you on your insurance needs, but can only sell you insurance products if they are also licensed as insurance agents.

Investment Advisor - Anybody who is compensated to provide securities advice must register as an investment advisor with the Securities and Exchange Commission or relevant state securities agencies. Because financial planners often advise people on securities-based investments, many are registered as investment advisors.

Stockbroker - Also called registered representatives, stockbrokers are licensed by the state(s) in which they practice to buy and sell securities products such as stocks, bonds, annuities and mutual funds. They generally earn commissions on all of their transactions.

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