An optional add-on to Morningstar® Annuity Analyzer, VA Expense Analyzer helps streamline the compliance and sales disclosure processes. Advisors use this tool to conduct suitability and cost analyses to make sure they are recommending the appropriate variable annuities for their clients. It allows them to calculate and deliver a report that clearly outlines the costs associated with an annuity product. For annuity exchanges, it identifies the results of changing accounts and how long it would take to recover a surrender charge.
What you can do:
Enhance the sales process
Make recommendations with confidence
Collect client data to make appropriate recommendations
Follow point-of-sale requirements
Expense Analyzer standardizes and documents the recommendation process, whether an advisor is selling a new annuity or suggesting an annuity exchange. Advisors enter relevant information about the investor and the purchase to create personalized reports with disclosure of the fees and benefits associated with the proposal, a comprehensive contract overview, and a client sign-off page. Integration of client data with the process encourages appropriate product recommendations.
Comply with industry regulations
Meet SEC, FINRA, and MSRB regulations
Analyze the necessary information for a new purchase or 1035 exchange
Improve transparency through disclosures
Designed with FINRA Rule 2330 in mind, Expense Analyzer helps advisors fully communicate an annuity’s features to clients, while exploring whether an annuity is suitable based on key client characteristics. Fee disclosure reports clearly outline the costs of a new purchase or exchange, a trade of one variable annuity product for another.
Calculate and communicate variable annuity costs
Determine how much a contract’s benefits will cost
Help investors find the lowest-cost solution
Produce fee disclosure reports to share with investors
Expense Analyzer offers a benefits calculator to help advisors identify the full costs of a variable annuity. The results of their cost analyses appear in the Fees You Pay report, a detailed disclosure of a contract’s expenses.