Brokers and other investment professionals accounted for 57% of U.S. variable annuity sales in 2004, up from 52% in 2003.[@@]
Researchers at Integras, a unit of Claritas Inc., San Diego, have published those figures in a study based on 175,000 consumer survey interviews.
The percentage of consumers who bought variable annuities directly through insurers fell to 25%, from 30%, while the bank share of the market held steady at 15%, the Integras researchers report.
The researchers found that age, wealth and small business ownership had noticeable effects on annuity channel preferences.