DPL’s consultants will also be available to be on client calls with advisors to provide product expertise and answer any other questions the end-client might have.
As U.S. equity indexes like the Dow Jones Industrial Average fell to levels 37% below their all-time highs, investors have asked their advisors for more help to protect their retirement savings, said Lau. Recently retired Americans have a particular need because the market’s decline occurred just as many were beginning to draw down on their savings, creating a sequence-of-returns event.
Lau said that even after a sequence-of-returns event has already taken place, annuities may be a suitable solution for some clients. For example, some variable annuities may help the end client enjoy a stable stream of income and some protection of principal while participating in some of the recovery to come.
As interest rates have dropped, some advisors may also have clients who would benefit from moving some of their nest egg out of bonds and rebalancing to an annuity, said Lau.
“We think it’s important to be able to support fiduciaries and their clients who may be looking for annuity solutions at a time like this,” said Lau.