Anyone have a rough estimate on the total number of annuity producers in the industry (and by producer I mean someone consistently selling at least 3-5 million per year, not someone who does 1-2 cases per year)?
2022 total index annuity sales was $78,965,122,275 with an average commission of 6.38% (according to Winkintel) so that's about 5 billion in agent commissions. That would hypothetically be 10,000 producers each doing 7mil and about 460k gross income.
Also, what annual sales volume would qualify a producer as a top 10%? 3 mil? 10 mil? 20 mil?
I'm wondering roughly how common/rare it is for a purely annuities focused (no AUM) producer to be hitting 10 mil plus in sales taking home 500k. If anyone has any concrete data on this that would be great, otherwise 'guess-timations' are also greatly appreciated.
2022 total index annuity sales was $78,965,122,275 with an average commission of 6.38% (according to Winkintel) so that's about 5 billion in agent commissions. That would hypothetically be 10,000 producers each doing 7mil and about 460k gross income.
Also, what annual sales volume would qualify a producer as a top 10%? 3 mil? 10 mil? 20 mil?
I'm wondering roughly how common/rare it is for a purely annuities focused (no AUM) producer to be hitting 10 mil plus in sales taking home 500k. If anyone has any concrete data on this that would be great, otherwise 'guess-timations' are also greatly appreciated.
