Sign up for our newsletter
Ask an Advisor »
Click here to ask your
general financial question.
Financial Planning Question - Annuity Fees
Q: I retired last year and a friend recommended a Financial Planner to me. Well, he placed a third of my money into an annunity which I want to get out! The surrender fee is high and I just found out this month that the annual fee is five thousand dollars. Is there anything I can do? I was told to e-mail you by the Clark Howard staff.
A: I am sorry to hear of your situation. If we could have talked to you before you bought the annuity we would have explained the high commissions, high internal yearly cost, and the very high surrender fees when purchasing an annuity. I am not sure how much we can help but I would recommend contacting an attorney. When you signed the forms to purchase the annuity you had to sign off on all of the disclosures that were prepared by their attorneys. You may need the same type of representation to get out of the annuity. If you really want out and an attorney is not an option- you may have to pay the surrender fees.
I am sorry that I do not have any better news. Below I have listed a couple of attorneys that clients have used in the past. Just let them know that Capital Investment Advisors referred you. If you have any other questions feel free to contact me directly!
Robert Port
(678) 775-3550
Allison Ficken
(770) 829-3869
-
Too Late to Refinance?
In an Atlanta Journal article posted on MortgageDaily.com, Wes Moss comments on the rising mortgage rates. That upward trend (from 3.5 to 4.0) will likely continue over the coming weeks and months, according to Moss.
Read more... -
Ryan Ely Comments on Portfolio Management with Concern to Fed's Action on Debt-Buying Program
Wealth managers are looking to change their stock portfolios as they await news of the Federal Reserve's move on its debt-buying program. In fearful anticipation of getting caught in the pull back of the Fed, many investors are seeking low risk ways to secure high-yielding portfolios.
Read more... -
Matt Reiner Comments on Fidelity's ETF Launch
Fidelity won approval to launch their much anticipated incursion into the ETF arena last week. Matt Reiner commented in Barrons.com concerning the new launch.
Read more... -
Moss gives USA Today the 5 Things Not to Do With Lotto Winnings
The winner of Saturday's Powerball jackpot stands to walk away with hundreds of millions of dollars. But in an interview with USA Today, Wes Moss says lottery winners often make unwise spending and investing decisions.
Read more... -
Mitch Reiner Comments on Commission-Free ETFS
In an article posted by ETF Trends, Mitch Reiner advises as to what to look for when partaking in commission-free ETFs.Commission-free ETFs are a popular trend for investors as money managers have partnered with online brokerages in an effort to offer these ETFs in attempts to bolster a larger following among retail investors.
Read more...
Breaking News
Matt Reiner, CIO of Wela Strategies, sister company of CIA, featured in Barron’s magazine.
Click here...
How Can Capital Investment Advisors Help You?
“I’m Nearing Retirement.”
You might need to consolidate multiple 401(k) plans into a managed IRA to achieve your personal goals. You may also reposition your investments from growth stocks into income investments, real estate or dividend stocks.
Learn More »
“I’m Retired.”
You may need to generate income from investments and have a personalized equity portfolio that reflects retirement cash flow needs while also considering growth to counter the effects of inflation.
Learn More »
“I Own a Business.”
You may need supervision and management of your firm's SEP, 401(k) or profit sharing plans, or guidance on selling your business and retiring.
Learn More »
200 Sandy Springs Place, Suite 300
Atlanta, GA 30328
Toll Free: 1-888-531-0018
Main Office: 404-531-0018