By Michael Heibel, Marketing Consultant
1. A service model that works
When you call Ann Arbor Annuity Exchange you’re greeted by a marketer who is prepared to answer questions and do case design that helps address your clients’ fixed insurance needs. We also prepare illustrations, offer annuity suitability guidance, and sales ideas to help you grow your business. Ann Arbor Annuity Exchange stays in constant contact with more than 30 insurance carriers and we continue to seek out new products and carriers that align with broker/dealer (B/D) guidelines and approval lists. With access to over 300 annuity products, our insurance-licensed marketing staff is ready with the most current rates and product specs at their fingertips. I regularly hear from producers who get shuffled off to voicemail when they call some marketing organizations. That does not happen at AAAE. Our service model puts the producer first and gives you access to training, tools, resources, and an experienced and dedicated administrative department whose goal is to make sure your business is efficiently processed.
2. Compliance and suitability
As a registered representative (RR), when you write a fixed index annuity (FIA), not only does the application have to be found suitable under the relevant FINRA and broker/dealer rules, but also under the NAIC Suitability in Annuity Transactions Model Regulation as enforced by each insurance carrier. While the rules may be similar, they can have varying factors. It can be frustrating for RRs to have to go through two full reviews that might focus on different aspects of the sale. Our in-house suitability department works with RRs on a proactive basis, so that they are aware of what is to be expected from an insurance perspective by the carrier before they even solicit the sale.
While many marketing organizations may offer promising leads and incentives, as a registered representative it can be disappointing to find out that those might not be approved by your broker/dealer. At AAAE we have an in-house compliance officer that reviews the prospecting, marketing, and incentive programs we offer for high level alignment with insurance advertising standards, before we even present them to you. This added layer of evaluation helps provide our producers with programs that are aimed to be in-line with insurance industry requirements so your broker/dealer may appreciate that extra consideration.
3. We are approved
We have been working closely with independent broker/dealers since we opened the doors 25 years ago, and we continue to form new relationships. Just in the past year we have grown our key relationships exponentially and now have producers representing more than 80 broker/dealers. Even B/Ds that allow RRs to write FIAs as an outside business activity may still restrict their work through a list of approved FMOs. If we have not been added to your B/D’s approved list so far, ask your director of insurance products or compliance officer to give me a call at 800.321.3924 x154.
Michael Heibel | Marketing Consultant
Ann Arbor Annuity Exchange
Ph: 800.321.3924 x154 | Dir: 734.786.6154
Michael has a “substance over style” approach to sales, and is motivated by his commitment to provide high-quality service to his clients. Michael’s approach has made him a valuable resource to the people he services as well as AAAE.
Prior to participating in any services or solicitation of products, producers should follow the approval requirements of the carriers they represent and their broker/dealer, registered investment adviser, and state(s) where applicable.
Ann Arbor Annuity Exchange does not provide tax or legal advice. You are encouraged to consult your tax advisor or attorney.
Designed for Financial Professionals.