Quote:
Originally Posted by billthecpa
I find it mind-boggling that someone would ask this question of anyone other than a qualified, experienced, professional financial or investment advisor (who does not sell annuities).
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The problem is that most financial "advisors" are not qualified to provide unbiased advice because they make most of their money on commissions. So, they have a built in conflict of interest. There are "fee only" advisors, but that is not the norm in the financial industry. Many people feel like they will not get their money's worth by paying a fee just for advice. Annuities are the most recommended product because they offer the highest commissions for an advisor.