Annuity Recomendation

[VolAgent]

Well it doesn't show with all the negative comments regarding the feasibility of the alternative FIA strategy.

I understand that many people who do not hold themselves to a fiduciary standard would rather put a client in a crappy bonus fia that pays a high commission, and I wish they would just say that rather than trying to poke holes in strategies that work if you have the financial know-how.

All the lawsuits against FIA carriers is due to unethical, close-minded agents who prey on individual who fall for their sales tactics. If everyone treated their "clients" like their mother the industry would not have such a bad rap PERIOD

You know, it is possible for a product to serve everyone's interest. There are plenty of FIAs that do that when suitably sold. But when all your knowledge of FIAs comes from your B/D, mutual fund reps, and VA wholesalers, it is easy to have a bad opinion of them.

There are plenty of RRs, RIAs, etc putting people in inappropriate securities in the name of "suitability". Putting someone in a bad FIA is no different than putting an investor into an investment that is too risky for their tolerance. Yet we treat the insurance agent like a criminal and praise the RR.

Every time I see some RR say every 30 or 40 year old needs to be in mutual funds, I just cringe. One of two things is going to happen, that RR is going to be named in a complaint when the 30 year old takes a bath because the fund was too risky for them, or by pushing funds that are too aggressive, they are going to chase the 30 or 40 year old away from doing any retirement savings.

 

[Franz Kafka]

You know, it is possible for a product to serve everyone's interest. There are plenty of FIAs that do that when suitably sold. But when all your knowledge of FIAs comes from your B/D, mutual fund reps, and VA wholesalers, it is easy to have a bad opinion of them.

There are plenty of RRs, RIAs, etc putting people in inappropriate securities in the name of "suitability". Putting someone in a bad FIA is no different than putting an investor into an investment that is too risky for their tolerance. Yet we treat the insurance agent like a criminal and praise the RR.

Every time I see some RR say every 30 or 40 year old needs to be in mutual funds, I just cringe. One of two things is going to happen, that RR is going to be named in a complaint when the 30 year old takes a bath because the fund was too risky for them, or by pushing funds that are too aggressive, they are going to chase the 30 or 40 year old away from doing any retirement savings.

I think personality and character have a lot to do with those who savor their securities kool-aid (and I speak from observation). They are by nature CONFORMISTS and collectivists. They have a need to be told what to do. They have a need for the establishments. They don't mind giving up individual freedom as long as they're assured by the Big Daddy that it is what's good for them. They cherish their diplomas, credentials and recognition from the establishments and speak in the same textbook manner. They even dress alike.

 

[njh_lfg]

BULLSHIT! Was much easier than insurance license - at least for me.

right...... what did you have a 6?

A license is a baseline of knowledge that needs to be expanded on with practical application.

The fact of the matter is majority of registered reps have minimal knowledge of the markets and generally just regurgitate wholesalers sales pitches which in turn leaves some unfortunate individuals with biased opinions of the markets; such as some of the comments in this thread to the effect of "I do not trust 401ks" or some other BS.

Here is a thought, mutual funds are in the business of making money and not conforming their investment objectives to each person who owns a share. They do try to earn positive returns but the majority of them do not. Mutual fund investing is not investing it is over-diversification. In the words of Warren Buffett "diversification is for those who do not know what they are doing."

 

[VolAgent]

right...... what did you have a 6?

A license is a baseline of knowledge that needs to be expanded on with practical application.

The fact of the matter is majority of registered reps have minimal knowledge of the markets and generally just regurgitate wholesalers sales pitches which in turn leaves some unfortunate individuals with biased opinions of the markets; such as some of the comments in this thread to the effect of "I do not trust 401ks" or some other BS.

Here is a thought, mutual funds are in the business of making money and not conforming their investment objectives to each person who owns a share. They do try to earn positive returns but the majority of them do not. Mutual fund investing is not investing it is over-diversification. In the words of Warren Buffett "diversification is for those who do not know what they are doing."

I'm not going to say you are wrong.

But what do you recommend for the average guy who can put maybe 50 or 100 month into the market? The evil FIAs or a just as bad mutual fund?

We all know any RIA worth his salt is going to tell the 50/mo IRA guy to take a hike. So what is his alternative?

 

[iceco1d]

A 30 year old looking to put away $100/month would be best served in a low cost mutual fund that holds quality dividend paying stocks and investment grade bonds.

Now, I would be best served by exercising 2 hours a day, and not shoveling 15 fried chicken wings down my throat once a week, but that's not what I am disciplined enough to actually do.

So for some people, a fixed annuity of some type, might be the only option they can actually stick with.

 

[njh_lfg]

I'm not going to say you are wrong.

But what do you recommend for the average guy who can put maybe 50 or 100 month into the market? The evil FIAs or a just as bad mutual fund?

We all know any RIA worth his salt is going to tell the 50/mo IRA guy to take a hike. So what is his alternative?

I wouldn't talk to a person like that unless they are a clients child.

 

[bobson]

client in a crappy bonus fia that pays a high commission, and I wish they would just say that rather than trying to poke holes in strategies that work if you have the financial know-how.

All the lawsuits against FIA carriers is due to unethical, close-minded agents who prey on individual who fall for their sales tactics. If everyone treated their "clients" like their mother the industry would not have such a bad rap PERIOD
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not as easy as in insurance license

Funny. How many billions of dollars went into FIAs last year??? How many billions are already on the books. And they are crappy?

 

[VolAgent]

I wouldn't talk to a person like that unless they are a clients child.

Exactly my point. (20 characters)

 

[njh_lfg]

Funny. How many billions of dollars went into FIAs last year??? How many billions are already on the books. And they are crappy?

bonus products are pretty crappy

 

[Franz Kafka]

bonus products are pretty crappy

That's odd ...

I just clicked your sig and this showed up.

What does it say at the top?

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