Len Martinez discusses the truth about annuities.

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-len-r-martinez-founder-of-lrm-retirement-discussing-the-truth-about-annuities/

In this episode of Influential Entrepreneurs, Len Martinez, founder of LRM Retirement, talks about the often-misunderstood topic of annuities. A financial advisor with more than 20 years of experience, Len shares how a defining moment during the 2008–2009 financial crisis shaped his approach to financial planning and reinforced his commitment to acting as a true fiduciary and providing advice that truly fits each client’s unique needs.

Annuities tend to generate strong opinions, some people are skeptical, others are unsure, and that confusion often comes from a lack of clear information. As Len explains in the interview, the issue isn’t with annuities themselves, but how they’re recommended and used. When placed correctly within a well-planned financial strategy, annuities can play a valuable role for the right individual.

Annuities have developed a bad reputation, often due to being sold in the wrong situations. Many advisors fail to fully explain how these products work or how they fit the client’s goals. Martinez points out that annuities are often sold to people they’re simply not suited for. This misalignment can result in clients feeling trapped or dissatisfied, particularly when they encounter situations where they cannot access their funds or when the product does not deliver the expected benefits.

The problem is exacerbated by the fact that the term “fiduciary” is frequently misused in the industry. While many advisors claim to act in their clients’ best interests, the reality is that not all financial professionals are held to the same ethical standards. This disparity can lead to situations where clients are sold products that do not align with their financial goals, further tarnishing the reputation of annuities.

Martinez explains that, when used correctly, annuities can offer real benefits: consistent income in retirement, protection from market fluctuations, and tax-deferred growth. However, their value depends entirely on the client’s situation, including their goals, income needs, risk tolerance, and timeline.

What matters most, Martinez says, is taking the time to understand both the annuity and the person it’s being recommended to. These products aren’t one-size-fits-all. They should be just one part of a broader financial plan that includes different investment strategies and tools for managing risk.

Fiduciaries play a key role here. A true fiduciary makes recommendations based on what’s best for the client, not what’s easiest to sell. Martinez emphasizes the importance of educating clients and providing them with the full picture, including both the benefits and the limitations, so they can make informed decisions they feel good about.

By putting clients first, fiduciaries help clarify the confusion surrounding annuities and rebuild trust in the financial industry. Martinez’s goal is to ensure clients understand what they’re getting and why it makes sense for their plan. This educational approach empowers clients to make informed decisions, providing them with a sense of confidence and security in their financial future.

As Len puts it, “The word fiduciary is kind of tossed around by people even on radio ads and in print, and as I’ve seen in person. And we take that very seriously.”

Video Link: https://www.youtube.com/embed/1ySU_V_LuIs

About Len R Martinez

Len R Martinez is an Investment Advisor and a Fiduciary in Texas. Martinez is a fee-based planner and works primarily with clients planning for or in retirement. His goal for his clients is to replace “hopefully, we will” retirement with “we know we will” retirement. With 25 years of client relationships and success, Len focuses on educating his clients on how to plan for and pay for retirement.

Learn more: https://lrmretirement.com/

Investment advisory and financial planning services are offered through Simplicity Wealth, LLC, an SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm, nor does it indicate that the adviser has attained a particular level of skill or ability. Insurance, Consulting and Education services offered through LRM Retirement. LRM Retirement is a separate and unaffiliated entity from Simplicity Wealth. An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non-qualified distributions. Consult a tax advisor for specific information. This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.

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