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However Cerulli analysts say the life insurers and asset managers nonetheless face one main, elementary impediment: The individuals who have been promoting annuities are largely totally different from the individuals who assist bigger outlined contribution plan sponsors choose their funding menus.
Retail advisors do assist about 40% of the sponsors of 401(ok) plans with lower than $5 million in property, and about 31% of the plans with $5 million to $25 million in property, however they aren’t the identical sorts of retirement plan consultants who work with the plans with greater than $25 million in property, in response to the Cerulli analysts.
Despite the necessity to discover individuals who can carry the worlds of annuities and large retirement plans collectively, 78% of insurers Cerulli surveyed stated that in-plan annuity gross sales will develop over the following three years, and 28% predicted that in-plan annuity gross sales will develop at the least 10%.
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