Annuity Twisting, Switching/Churning
Our firm believes that annuities are seldom in any clients best interests. We know that switching one annuity for another of like kind is never in the interest of the client. Annuity companies pay very large commissions to brokers to sell its products.
Unscrupulous brokers will sell you an annuity and then, within a relatively short time, recommend you liquidate that annuity and purchase another (which he will proclaim is newer and better than the first one).
This is usually nothing more than a scam to generate new large commissions for the broker.