Ms. Lynne Abbott This is Me

 Web References

1. 1. American Express Financial Group Launches Annuities Feature Designed to Help Investors ''Fight Off the Bears and Run With the Bulls'' - - insurancenewsnet.com

   www.insurancenewsnet.com/artic - [Cached]

   Published on: 5/3/2005   Last Visited: 5/3/2005

   The rider was designed based on the demands of clients, who want to protect their original investment while being able to participate in market growth," said Lynn Abbott, vice president of national sales and strategic alliances for AEFG.

2. 2. BISAnet.org: Conferences

   www.bisanet.org/conferences/an - [Cached]

   Published on: 8/8/2003   Last Visited: 1/14/2005

   Lynne Abbott, VP, National Sales Manager, American Express

3. 3. BISAnet.org: BISM

   www.bisanet.org/bism/2004/chil - [Cached]

   Published on: 3/20/2003   Last Visited: 8/5/2005

   The year started out strong, but things began to decline in April, observes Lynn Abbott, vice president of national sales and strategic alliances, American Express Financial Group (Amex), Minneapolis, Minnesota. Variable annuity sales decreased along with other investment products, including fixed annuities. "Sales are just down in all broker/dealers."
   
   The market and interest rates have been up and down since May, Abbott says. "The election plays a role, too." Earlier, there were three bad years and one good year ("that no one knew [about] at the time," says Abbott). Then some ups and downs.
   ...
   - Lynn Abbott, American Express
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   Today, there's more focus on "money you can't outlive," continues Abbott, which means that clients need to be in the stock market.
   ...
   We're going to have to go to retirement," says Abbott. Brokers are already doing this.
   ...
   About 50 percent of the VAs sold today have principal protection, adds Abbott; her company is in line with the industry.
   
   More platform sales?
   
   Recently, there has been more talk about selling VAs through bank platforms-as is done increasingly with fixed annuities. Amex sells VAs in two of the largest bank platforms in the country, according to Abbott (she declined to name them), and they've been successful at this-although less than 20 percent of VA revenues are from the platform.
   
   Typically, platform reps target younger clients with fewer investable assets. "Is it a high volume? No," says Abbott. "Is it meaningful? Yes." As for clients with higher investable assets, the bankers usually refer them upward to dedicated investment reps.
   
   The Amex product is simple enough for the platform reps to sell, Abbott insists.
   ...
   It fluctuates between 10 and 20 percent, says Abbott, depending on whether platform reps are focused on bank products or fee income in any given season or year.
   
   The bulk of Nationwide's bank distribution is still through dedicated brokers, but more banks are now asking for training for their platform personnel, notes Giertz. Is he seeing more VA sales through the platform, then?