Industry Veteran Launches “My Annuity Agents” to Combat Commission-Driven Sales Practices
HENDERSON, NV – A 15-year annuity industry veteran has launched My Annuity Agents, a new agency designed to eliminate problematic sales practices that have damaged the reputation of fixed and fixed index annuity products. The company represents a direct challenge to commission-focused approaches that prioritize agent profits over client needs.
Angie, the agency’s founder, decided to establish her own firm after witnessing widespread misuse of annuity products by agents seeking higher commissions. “I have seen several annuity agents sell annuities incorrectly just because they wanted a higher commission,” she said. “It was frustrating to me that annuities were getting such a bad reputation.”
Fear-Based Sales Tactics Under Fire
The new agency specifically targets fear-based selling strategies that have become commonplace in the industry. According to the founder, agents routinely scare clients into purchasing inappropriate income annuities by exaggerating inflation risks and income shortfalls.
“Agents try to scare clients into thinking inflation will be out of control or scaring them that they won’t have the income they need, so they end up putting too much money into an income annuity,” she explained. These products often lock clients into irrevocable contracts or charge excessive fees for minimal growth.
Problem-Solving Approach Replaces Commission Focus
My Annuity Agents operates on a fundamentally different model that begins with determining whether clients actually need annuities. The company uses specialized software that pulls quotes from all carriers to ensure clients receive the highest available payouts and interest rates.
“We don’t focus on commissions – we focus on solving problems,” the founder stated. “Our conversations with clients have the intention to solve a specific problem.”
The agency actively turns away inappropriate prospects, including clients under 40 and those more than 10 years from retirement. This approach prioritizes long-term client satisfaction over immediate sales revenue.
Targeting Middle-Class Americans
The agency positions itself as serving average Americans seeking safety and security rather than high-net-worth clients. The founder advocates for Multi-Year Guaranteed Annuities (MYGAs) and other fixed annuity products as alternatives to riskier investment approaches, particularly for clients who cannot weather significant market losses.
“A lot of middle class workers are looking for safety. They don’t have the ability to weather another year of market loss like we had in 2008,” she noted.
The company recommends limiting annuity investments to no more than 50% of investable assets while focusing on specific retirement income gaps that Social Security and other guaranteed income sources cannot cover. Each case receives individual analysis rather than standardized product recommendations.
Industry Reputation Recovery Mission
My Annuity Agents aims to restore confidence in annuity products through education and ethical application. The founder expressed hope that proper implementation of these retirement planning solutions could change industry perceptions and demonstrate their value in retirement portfolios.
“We want our clients to love annuities,” she concluded. The Henderson-based agency plans to train all agents in problem-solving methodologies rather than traditional sales techniques.
For more information about My Annuity Agents and their problem-solving approach to retirement planning, visit https://www.myannuityagents.com/.
