The annuity industry has been riding momentum, with advisors helping fuel the growth. And as more advisors at some of the larger broker-dealers and wirehouses embrace fixed indexed annuities in recent years, total annuity sales are likely to keep growing in 2014, says Morningstar analyst John McCarthy.
Fixed indexed annuity sales rose 45.2% year over year in the fourth quarter of 2013 -- the most recent quarter for which data is available -- to $23.5 billion, according to data from Morningstar and Beacon Research. Industrywide, annuities sales grew 17.2% year over year in the fourth quarter.
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