Transferring my annuity money to broker

Terry, I transferred my TIAA CREF (Fixed?) annuity over to a broker but have decided I don’t want to work with him and I want my money back. The TIAA money was supposed to go into the Principal Investment Plus Variable Annuity he’s selling me but I have not signed the contract yet. I have, though, signed the “application” and there is a “contract” number for the annuity. Before I tell him I want my money back, what do I need to know so he doesn’t hoodwink me again. Are there timelines/deadlines or things I should be aware of when transferring this money away from him? Many thanks for any help you can offer.

Terry Says:  Yes, you should rescind this agreement IN WRITING by certified letter, and call and get the name of the branch manager of the firm, and send a certified letter to him/her as well.  Do it asap — There is likely a 30 day waiting period when you can rescind an annuity purchase, but you need to act promptly and in writing.

THEN, you should do your homework.  Why on earth would you transfer from TIAA-CREF, one of the lowest cost, finest providers of annuity and insurance products in the country to a broker sold product that is going to take a commission out of the money, AND cause you to have a new surrender period???  Did you do any homework in this before making your move?  Did you contact TIAA-CREF and ask them to compare the products?   In other words, what were you thinking when you made this decision.  This is not a rhetorical question.  Please write back because it doesn’t make sense to me — and I’m sure I must be missing something!