How Retirement Seminars Peddle False Claims About Annuity Returns

SEC and FINRA enforcement files reveal a persistent pattern: financial advisers telling retirees that annuities beat stock-market returns. The 2025 FINRA oversight report flags this as an active problem. The math doesn't hold up. Once you factor in participation caps, bid-ask spreads, and fees, annuities underperform. Rule 2210 bars firms from making false or misleading claims in any marketing material.