Avoid Annuity Tax ProblemsWritten by Tony Novak
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been avoided. Most beneficiary designations are made at time that annuity account is opened, often without advise of a professional tax adviser. The investment representatives who typically open these annuity accounts give blanket recommendation to investors to “seek advise from your own tax adviser” but few investors ever bother to seek separate tax advice. Investors often assume that financial planner opening annuity account is incorporating tax advice into service provided, but usually this is not case. By time tax problem is discovered by executor or estate, it is too late to make any correction.
Tony Novak is an independent writer and financial adviser in Narberth PA who provides OnlineAdviser services through MedSave.com and FreedomBenefits.org
| | Conservative Investment Management Pays for This FirmWritten by Tony Novak
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of some very popular names in financial services industry. But one of largest issuer’s of variable annuities, American Skandia, has been able to avoid this financial risk through use of unique but fundamentally sound investment management and accounting. In other words, by setting up automated systems to automatically manage money more conservatively during periods of declining stock prices, American Skandia has significantly outmaneuvered market and avoided risk for its investors.American Skandia is one of few investment companies that offers a no-load account without investment commissions through independent investment advisers. It own distribution costs are minimal because company does not maintain an internal sales force, but relies instead on recommendations of independent financial advisers.
Tony Novak is an independent writer and financial adviser in Narberth PA who provides OnlineAdviser services through MedSave.com and FreedomBenefits.org
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