Merrill Lynch takes two avenues with annuity commissions
September 12, 2018 by Greg Iacurci
When Merrill Lynch recently decided to reverse its ban on commissions in individual retirement accounts, it did so for all products with one exception: annuities.
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However, not everyone is convinced by Merrill’s logic.
“It doesn’t hold water with me,” said Sheryl Moore, owner of Moore Market Intelligence, a consulting firm.
“If you’re saying annuities are more complex products, you have to apply that same standard to all annuities,” Ms. Moore continued, adding that nonqualified annuities can be purchased with the income riders that make the products more complex.