- 8,707
Gee would they ever let him have some peace. Seems like they are chasing after him worse than murders and armed robbers.
Agent Arrested and Convicted for Selling an Annuity.
- Thread starter Crabcake Johnny
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- annuity
Gee would they ever let him have some peace. Seems like they are chasing after him worse than murders and armed robbers.
Hasn't the man suffered enough already and hasn't the state extracted their pound of flesh?
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- 8,707
Yeah the "victim" lost nothing, Neesham had no intention of stealing from her when he sold a state approved product and has gone from earning 400k per year I believe to ruins.
- 2,584
I wonder why, if he was making 400K per year, wouldn't he have more money to pay for a top lawyer.
I assume the renewals dried up when he lost his license and he probably had a large mortgage and car payments. Unless you have a large amount of liquidity it doesn't take long to be in bad shape. He has also went 5 plus years without working.
- 30,579
I believe that he mostly sold annuities. There usually aren't renewals on annuities.
That's changing...more and more carriers are offering trail options on their products. It's tough for most agents to sacrifice the big up front comp but in the long run, it is nice to start the year off not at zero.
There are trails on some annuities.
- 8,707
Yeah but the breakeven on the difference can be so far in the future to make it hard to take.
- 10,830
I agree. I just wrote one from GA last week and was using their trail calculator to look at the difference in comp.
I chose the Heaped Opt. just because it was a smaller case. But the Modified Trail (3 year option) was fairly nice. Over 3 years it did pay more. On a larger case I would take it.
I think we will see more and more trails with IAs.
I know GA & AE offer trail options. Can anyone add to the list?
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That is why I am warming up to the 3 year options.
For really big cases I would take the flat 1% though. I think we will see that comp layout to make them more QP friendly... especially now with 404(a).
From a Fiduciary Liability standpoint, it is hard to place them in anything other than a SoloK or a micro plan.
