Stan Haithcock: “indexed annuities are the biggest joke of all time”
October 17, 2017 by Jane Wollmann Runoff, Thinkadvisor.com
‘Stan the Annuity Man’ tells ThinkAdvisor why the industry is outraged at him and why fee-based indexed annuities are the ‘biggest joke of all time’
t doesn’t take much to get “Stan the Annuity Man” enraged. Mention fixed indexed annuities, and he’s livid. Bring up advertising pitches for them, and he fumes, as evidenced in an interview with ThinkAdvisor.
There’s no shortage of outrage directed at Stan, either — that is, Stan Haithcock, ardent consumer advocate and self-proclaimed №1 independent annuity agent for consumers and fee-only investment advisors in the U.S. One chief reason for the industry’s disdain: He helped Sen. Elizabeth Warren with her investigation two years ago calling out annuity companies for incentive trips paid to agents and deeming them a conflict of interest. In her report, Haithcock was referenced as a source at least three times.
Original article published here: https://www.thinkadvisor.com/2017/10/17/stan-the-annuity-man-is-livid-about-fixed-indexed
