Bruce Ferris, the senior vice president of sales and distribution for Prudential Annuities, said he has heard all the objections from wholesalers and advisors concerning variable annuities.
The investment community complains that the products, which saw assets under management decline over the past two years, are too expensive or too complicated, but Ferris said “they aren’t going away.” He said the attitude about variable annuities is beginning to change.
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