Just a small segment of the advisor industry accounts for most of the sales of variable annuities in the U.S., so for insurers who are concerned about the long-term growth of the industry, getting more advisors on board to peddle their products is critical. With more than 113,000 advisors, independent broker/dealers make up the largest share of the market and pose the best opportunity for VA sales growth in 2013, according to a survey of insurers in the first quarter by Cerulli Associates and the Insured Retirement Institute. Ranking further down the line are registered investment advisors, for whom commissions-laden annuities can sometimes pose greater conflicts considering their fiduciary responsibilities toward clients.
— Jerry Gleeson
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