Insurance companies and broker-dealers sold more than $156 million in annuity products in 2011, the Depository Trust & Clearing Corporation announced.
Of those products sold, qualified accounts, such as 401(k) s and IRAs, retained 42.5% of the $37.6 billion that flowed into the accounts for a net asset inflow of $22.4 billion, the DTCC found in its 2011 Annuity Market Activity Report. Nonqualified accounts held onto just 4.3% of the $37.6 billion that they took in, for an ending net flow of $1.6 billion.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access