Aria Attaches Guaranteed Income to PIMCO Funds, RIAs React

PIMCO last month teamed up with product and technology platform provider Aria Retirement Solutions and insurer Transamerica Advisors Life Insurance Company to market contingent deferred annuities to asset-based fee-only registered investment advisors. The name of the new product: RetireOne Transamerica II.

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Comments (1)
Investors, and advisors, have a tendency to "fight the last war." Financial firms are happy to oblige with products designed to address the "problems" of yesteryear. Today we are so scared of another financial crisis that we are willing to ignore history and common sense. Product purveyors, whether they be insurance companies or managers of "alternative" investments use this fear to promote solutions that would have worked over the recent past, and too many advisors are willing to sell on those fears. Where were guaranteed income products in 1999? In the era of greed, the products promoted were Internet and technology funds. While we cannot predict the future, our job as advisors is to try to tame emotions, ours and our clients', and approach the problems with a good dose of reality. I like Kitces's approach.
Posted by Kevin T | Friday, July 26 2013 at 10:23AM ET
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