"It's insane to risk what you have for something you don't need" Warren Buffet

You could really spend a lot of time unpacking this question, but my belief is that majority of these folks are in these 3 categories:

1. Ignorance: I don't want to play this game of "I know more than you" because that never ends well. Ignorance is sometimes taken as this massive negative connotation, but it really applies to us all in some way in our lives. I do believe some advisors and organizations just don't know what they don't know. Their reality is what they have learned or experienced, and sometimes that's a very narrow view of what else is available. I always challenge these folks to set up a call with me, I bet I could help.

Here is something you’ll hear a tenured financial advisor say, “Annuities work well for conservative investors who are loss risk sensitive with stocks, bonds, mutual fund portfolios because of past experiences of themselves or others they know. In addition, fixed and fixed indexed annuities can provide a secure competitive return for bank CD savers v investors. However ,annuities are not the first pick for more knowledgeable investors but could be part of a diversified financial plan.”

Well,  I would have to challenge them on the first and last statement. I do believe annuities can fit fantastically even for the aggressive investors. It just depends on the annuity TYPE and how much they have in there. Saying annuities are not the first pick for knowledgeable investors is essentially saying "They're only for dumb people". Maybe they can tell me what the first pick is for safe accumulation without any drawdown?

Or, how about the clever financial advisor who says this, “plenty of downside protected buffered ETF programs out there that advisors can provide their clients. They provide better liquidity, usually better annual rates and are cheaper to own long term. Annuities are fine. Just fine nothing great nothing terrible but far from the only way to protect downside. Combination of BOCT, KOCT, APOC among many others can work together and benefit the client much more. Advisors have been phasing annuities out for decades for a reason… the juice isn’t worth the squeeze in most cases. Especially if you’re a true RIA building your own investment thesis and consistently outperforming markets on a risk adjusted basis. I’m sure you can cherry pick a few cases here and there that outperform but they are few and far between. In 2025 annuities are just silly you’re an annuities salesman making a solid case but let’s not act like they are the cream of the crop investment avenue.”

While I appreciate the comment,  almost everything they said is just wrong. Let me explain: First,  a Buffered ETF is essentially the same as a RILA but shorter term liquidity. You can get a floor, and the lower the floor , the more potential for gains. Well, stack it up against a RILA, they lose. Current RILA can have 15% Buffer and 100% par into the S&P, with no fee. And as short as 3 years. You can go FIA with 0% floor and a 11% cap. And other options and liquidity and backed by more stable institutions . It's not apples to apples if you start talking about income rider or LTC riders. You are just talking about accumulation, that's 1 dimensional as there's so many other goals. Next,  annuities have not been on a decline. Almost 500 billion in annuities purchased this last year. They have skyrocketed every year for a long time. Finally,  they are looking at this through a lens of chasing alpha. You need a perspective change. I would challenge them to go design whatever portfolio they want for a client that's near or in retirement, I can 100% promise you that if you are trying to solve for safe accumulation, or income needs, or LTC, I'll make it better with an annuity.

2. Conflict of Interest: I don't think this is as common, but definitely happens. This is when an individual or organization and their investment philosophy is an exact contradiction of what an Annuity provides. I always like to point out Fisher Investments here. They are so anti Annuity because it was probably warranted 20 or 30 years ago. This then grew to this monstrous campaign against the industry and that's the foundation they built. Well, things have changed, they can't change their stance now, even if it is wrong. Other conflicts can also present themselves such as an advisor without the best annuity options, or their fee structure is setup to where an Annuity would take income out of their pocket.

Anti-annuity language is ingrained into the culture of financial services. Sadly, this often hurts many consumers who should really consider the income guarantees as part of their retirement income plan

The most common thing you hear..Because the advisor gets a "BiG fAt CoMmIsSiOn"

*yawn* - tired old reasons...If I had every dollar I put into annuities , but in managed money, I would make so much more over a decade.

3. "I Can Do Better": This could have some overlap with ignorance, but these folks need their own category but it's just so interesting when I hear this stance. Annuities are most commonly known for their income for life benefits right? So I challenge these people to create some legal contracts telling their clients they will provide income from their investments for life. Why not do this if they are so confident? No 1 tool has 100% clarity in every way shape and form. It's our job and experts to explain what's needed. The problem is when advisors or agents are ignorant and it hurts the client.

Always love it when my Fixed Indexed Annuities with Income riders, blow a Bond out of the water.

Like this for example. Interest credited this last year between 5% - 12.96% (When we really only expect 3% average) (1.20% rider fee). AND with a 7.6% Guaranteed income for life if elected today, but can defer up to age 80 and get 20.20% payout for life. AND a 2.0x multiplier on the income for LTC needs. AND why advisors aren't using these to solve income needs for retirees? It's just a breach of fiduciary duty if they preach anything anti-annuity... plain and simple. The ability to defer income until age 80 for a significantly higher payout rate is a game-changer in retirement planning. This feature of FIAs can be a powerful tool for advisors to ensure their clients' income needs are met well into their later years, offering peace of mind alongside financial growth