Modern Multi-Year Guaranteed Annuities (MYGAs): The Best Kept Secret in Fixed Income-Course recording

Video Transcription

Video Summary

In this session, moderated by Spencer Bowen, a discussion about Multi-Year Guaranteed Annuities (MIGAs) was held, featuring Ed Mercier from Retire One and Jayant Walia from Gainbridge. They aimed to address common misconceptions about annuities and highlight recent advancements in the annuity market, especially for fee-only advisors. Ed emphasized the industry's shift towards products tailored for fiduciary markets, while Jayant discussed technology's role in simplifying the application and management of annuities. They explained that MIGAs function similarly to CDs but are backed by insurance companies, providing potential tax benefits and higher yields. Both panelists stressed the growing relevance and application of annuities in retirement planning, asserting that these products can help mitigate risks like longevity and market volatility. Moreover, they highlighted how integration with modern platforms and transparency has improved the ease of use for advisors, suggesting that these changes could address past negative perceptions. They encouraged advisors to explore annuity offerings, citing potential portfolio benefits and innovations designed to meet both fiduciary standards and client needs.

Keywords

Multi-Year Guaranteed Annuities

MIGAs

retirement planning

fee-only advisors

fiduciary markets

technology in annuities

tax benefits

market volatility

portfolio benefits