Barrons: Designations and Misconduct: A Surprising Connection

[VolAgent]

I think there are some really competent people that are just plain dishonest. Maybe some would say you can't separate the two, but to me the Barron's article is proving it.

I never said the reverse as I completely agree. A competent person is can be worse. They know what they are doing and they know how to exploit you and/or the system.

I'm merely saying, competency and integrity do not go hand in hand as they are two completely different concepts.

 

[DHK]

I agree with that.

For example: I bet every Primerica agent believes they are acting in their client's best interest according to the company training they have received - including company bias. It won't be until they venture out from that training where they may discover additional ideas and ways of thinking that they question their initial training. (Just one example.)

 

[toolbelt]

I agree with that.

For example: I bet every Primerica agent believes they are acting in their client's best interest according to the company training they have received - including company bias. It won't be until they venture out from that training where they may discover additional ideas and ways of thinking that they question their initial training. (Just one example.)

And even after making that discovery, its doubtful they would announce it because they may have inadvertently become willing accomplices when recruiting friends and selling to clients. So they simply walk away hoping everybody forgets about their failed foray into an MLM opportunity. Its one of the main reasons regulators receive so few complaints.

 

[VolAgent]

I agree with that.

For example: I bet every Primerica agent believes they are acting in their client's best interest according to the company training they have received - including company bias. It won't be until they venture out from that training where they may discover additional ideas and ways of thinking that they question their initial training. (Just one example.)

As long as the Primerica rep doesn't know better and isn't being willfully ignorant, then they can still be acting with integrity.

Of course, Primerica training violates insurance law and regulation from the word go. Most captives step right up to the line and often over it as well.

Did we all forget, "Do not disparage other companies to the public"?

 

[DHK]

Did we all forget, "Do not disparage other companies to the public"?

I will disparage company culture and training all day long.

I will NOT say that companies are not able to pay claims.

Two different things.

 

[VolAgent]

I will disparage company culture and training all day long.

I will NOT say that companies are not able to pay claims.

Two different things.

You read too much into that. The implication was that Primerica will say that and captives get rather close to it at times.

 

[DHK]

Since Primerica has been on a "hate 'trash value' life contracts" crusade since its founding, I'd say they threw down the gauntlet first. That's a company culture issue, not a claims-paying issue.

And since there are captive agents that will replace one policy for another just based on published dividends ("dividend selling" is stupid and probably highly unethical)... that's still a training issue rather than a claims-paying ability issue.

But if I said "XYZ Mutual is in financial trouble - better buy MY policy before you lose all your coverage and cash values"... THAT is a problem.

 

[scagnt83]

I think you two agree, you just dont realize it. lol