In retirement planning, annuity often raises mixed feelings among individuals. Some may shy away from it, while others might be skeptical due to misconceptions. But, it could be the missing puzzle piece to secure one’s golden years. It bears striking similarities to cherished pillars of financial security such as social security and pensions, capturing the essence of a reliable and steady income stream during retirement.
In this episode, Jack talks with Thomas Buckingham, Chief Growth Officer at Nassau Financial Group. Tom joined the company as an actuarial assistant in 1999 and served in increasingly senior corporate, product development, and operational positions. In his current role, Tom is responsible for developing and executing Nassau’s sales strategy for its insurance business, including all product development, distribution channels, marketing, branding, and leveraging digital tools to enable quick, easy, and simple sales.
With 25 years of innovative development, operations, and financial management responsibility, Tom discusses with Jack how Nassau Financial Group serves the middle market and mass affluent pre-retirees and retirees. He shares how the company incorporated technology into its solutions and what drives Nassau to partner with LifeYield to help clients with social security benefits.
Key Takeaways
- [00:55] – Tom’s role at Nassau Financial Group and how the firm serves the market.
- [02:55] – A look at Tom’s career journey in wealth management.
- [07:13] – The benefits of annuities for retirees.
- [11:17] – Nassau’s business growth strategy.
- [15:20] – What drives Nassau to partner with LifeYield?
- [20:17] – Tom’s three key takeaways.
- [24:24] – The things Tom enjoys outside of work.
Quotes
[07:54] – “Annuity is not a four-letter word. If you look at it from a customer’s perspective, they love social security and pensions. Annuity products can provide the same benefit.” ~ Tom Buckingham
[16:49] – “For most individuals, the longer they can wait to delay social security, the more retirement security they can have. The additional benefits they will get provide much more of a safety net.” ~ Tom Buckingham
[20:27] – “Annuities can and should play a key role in retirement for most individuals. And that’s probably something they can’t do on their own. So they should talk to a professional who can sell annuities and potentially other services.” ~ Tom Buckingham
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About Nassau Financial Group
Based in Hartford, Connecticut, Nassau Financial Group is a growth focused and digitally enabled financial services company with three distinct and closely connected businesses: insurance, reinsurance, and asset management. Nassau was founded in 2015 and has $22.1 billion in assets under management, approximately $1.4 billion in total adjusted capital, and about 378,000 policies and contracts. Nassau fixed annuity products are issued by Nassau Life and Annuity Company (Hartford, CT) or Nassau Life Insurance Company (East Greenbush, NY), subsidiaries of Nassau Financial Group. For more information, visit nfg.com. BPD41472
