“Annuity switching” happens when a broker encourages a client to trade an older annuity to buy a different one. While a legitimate investment strategy, it is sometimes a significant cost to the client and benefit to the broker.
Related:
Annuity Switches Result in $25 Million MetLife Fine
Forced Annuitization Harms Elderly Investors
SEC Charges Colorado Man with Elder Fraud
« Back to Glossary Index