I was reading this article at Financial Planning magazine’s website. It’s talking about some of the new products coming out that are designed to help people retiring. Mostly it focuses on new products by Merrill Lynch and Mass Mutual. These are some new and innovative products like… Annuities, Laddered Annuities and SMA’s.

It all sounds a lot like marketing hype to me. It’s creative ways to sell insurance products to clients in retirement.

“Determining a month-to-month cash flow is challenging for clients,” said Jennifer Bennett, vice president of retirement marketing for New York-based Merrill Lynch. “We want people to feel there is a 90% to 95% chance they can achieve their goals,” she said.

Don’t get me wrong, these products have a place in the financial planning practice. But don’t try to tell me these are “all new products”. I am hopeful that these companies will take the time to help educate planners and explain when these products are good to use AND when they are inappropriate.

Call me cynical but I have this vision of companies training 22 year old phone “planners” what to tell mom & pop when they call in on the help line.