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You May Have a Target on Your Back

Why Variable Annuities May Not be for You You are Being Targeted by Your Friendly Insurance/Securities Broker

As you may be aware, financial misconduct is one of the fastest growing industries in our country. While brokerage firms pretend that investor protection and fair dealing with customers is the “foundation” of the securities industry, abuses continue unabated. Variable annuities are often the vehicle of sales practice abuse for the elderly.

A recent article in Market Watch described “new” costly guarantees and “lifetime benefits” of variable annuity products being offered to investors. One of the popular features includes a rider, which is called a “guaranteed” minimum withdrawal benefit. However, these features and riders come with additional costs to consumers, which may outweigh any benefits and ‘guarantees’ associated with the purchase of annuities.

Some advisors believe that variable annuities are only suitable for those that can use the tax deferral features, including those still working and between the ages of 50 and 70 years of age. Most annuities have significant surrender charges, which last a number of years.

For those who seek to have tax deferral and who do not need immediate liquidity, the variable annuity with the guaranteed minimum withdrawal benefit can provide some security. However, it certainly is not for everyone!

For more information about how to recover your assets from investment fraud by a financial advisor or brokerage firm, contact Attorney Howard Rosenfield at (860) 677-4334 or email howardrosenfield@stockbrokerproblems.com.

Attorney Rosenfield is also available to speak on specific subject matter topics related to investment fraud.

Client Reviews
Howard Rosenfield is truly a life saver. After months of working with my financial advisor, I found out he was making risky investments without my knowledge. When I discovered how much money I lost, I thought there was nothing I could do. Howard explained all the difficult terms and what exactly my financial advisor did wrong. If it wasn't for Howard, I would never have recovered my losses and would be under extreme financial distress to this day. J.
Howard’s experience and advice throughout this ordeal was invaluable and reassuring. The law in general is complicated, difficult to understand and very personal. Financial misappropriation is even more personal but Howard’s years of experience and calm demeanor helped keep me calm, focused and moving forward. For anyone in need of a knowledgeable and experienced Investment Recovery Attorney I strongly recommend Howard. Laura
I was filled with anxiety and stress when I selected Attorney Howard Rosenfield to represent me. Instantaneously, I felt comfortable and at ease. Attorney Rosenfield listens attentively to the facts and asks questions and competently reiterates and verifies the accuracy and completeness of my statements. Perseverance, trustworthy and superb legal and communication skills mark Attorney Rosenfield to be one of the best in his field of law. Helen