Broker Dealer Suggestions

[plannerman]

Client preference aside, if they are in C-shares for over 5 years... then it's an unsuitable share class and they should've been in A-shares from the start, or be in a wrap/advisory platform instead. Comparable fees, but difference in advisor fiduciary vs suitability duty.

This is not true. I run FINRAS fund analyzer on all transactions and the two share classes are almost dead even at 10 years. 20 years plus the A pulls away but not so much up to that point.

 

[DHK]

Depends on the fund families and underlying expenses. I've found that if it takes longer than 5 years, generally then there isn't that much difference between an A- vs C-share.

With American Funds, their A-shares are typically .75% or less per year, while their C-shares are around 1.25% or so. Franklin Templeton can be similar, but they have over 100 funds last I checked. Their "asset allocation" funds have higher expenses, such as the Founding Funds strategy.

Just cover yourself because it could be seen that you're trying to set up a trail-based income of 1% per year without the advisor fiduciary standard. I'm all for investment advisors and brokers being paid... just make sure that compliance and your regulators know that it's still in your client's interest and full disclosure was made on every case.

 

[KRobby]

Take the high road on what??? All I posted was do the right thing for the client and you will be fine, and it was not even directed at you!!! WHY ARE YOU SO OFFENDED BY THAT COMMENT?

Most people over 70 do not want to pay a load, it does not matter to me which way they go its their choice, when I deal with people under the age of 65 they almost always go with A shares.Your comment of"7-8% commish depending on the state" shows the only thing you care about is your fat commission, your a annuity peddler and nothing more, what the hell do know about suitability or do you even care about it? How long do you lock the money up go get that 7-8% COMMISH? BTW I also sell annuities when appropriate and I have nothing against annuities.

I just found one of your post that shows you are just looking for the big commission and don't give a damn about your clients. This is one of your posts from March

"Find the products you can sell, flip & crunch your #'s and sell the high commish boys"

I'm not offended. You're the one typing in bold and using horrendous grammar. We're ensuring that he has a profitable business plan established, since that's kind of important in an industry known to have high turnover in the early years.

I BET YOUR CLIENTS LOVE YOU!!!!!

Mr client, gulfnuts believes in charging you a fee every year to put your money at risk. The first thing I'm going to do is turn off that broker meter. They really like the sound of that.

 

[Golfnut2112]

I'm not offended. You're the one typing in bold and using horrendous grammar. We're ensuring that he has a profitable business plan established, since that's kind of important in an industry known to have high turnover in the early years.



Mr client, gulfnuts believes in charging you a fee every year to put your money at risk. The first thing I'm going to do is turn off that broker meter. They really like the sound of that.

I'm not sure what you mean by your comment "turn off that broker meter" because it makes no sense. When you talk about high turnover, have you ever checked out the insurance industry? I do the same thing as you, just maybe on a broader scale. I am not with a wirehouse, I am a independent broker doing life, med supp, annuities and securities. Why are you so against securities?

 

[KRobby]

I'm not sure what you mean by your comment "turn off that broker meter" because it makes no sense.

The clients that I steal understand and love the idea. I would not have brought it up, but I wanted to answer your question.

When you talk about high turnover, have you ever checked out the insurance industry? I do the same thing as you, just maybe on a broader scale. I am not with a wirehouse, I am a independent broker doing life, med supp, annuities and securities. Why are you so against securities?

Golfnuts, I'm not against anything you're doing, but I might perhaps disagree with some of the advice you give to others in a different situation than you. That's why it's a forum. hth

 

[Golfnut2112]

The clients that I steal understand and love the idea. I would not have brought it up, but I wanted to answer your question.



Golfnuts, I'm not against anything you're doing, but I might perhaps disagree with some of the advice you give to others in a different situation than you. That's why it's a forum. hth

How can you disagree with the advice I give when you don't even know what it is? Not everyone wants an annuity and not everyone wants a security there is no perfect product that's why I use whatever is best for the client. Just to let you know I have been doing for quite a few years and have 38M in AUM in both securities and annuities without a single complaint.

 

[KRobby]

How can you disagree with the advice I give when you don't even know what it is? Not everyone wants an annuity and not everyone wants a security there is no perfect product that's why I use whatever is best for the client. Just to let you know I have been doing for quite a few years and have 38M in AUM in both securities and annuities without a single complaint.

W. Virgina,

I disagreed with your advice when I quoted what it was I disagreed with. You are the one jumping to rash generalized conclusions with every response.

But to touch on your new angle, the people prospecting a product certainly realize that there's no perfect solution that fits everyone, and many have higher aum than you.

 

[scagnt83]

Krobby & Golfnut,
Neither of you two understand how to make money in this industry.

First, you put them 50% into 2 different flex premium Annuities that pay a huge first year comp and have high renewals.
The other 50% goes into A shares.
Then you take your 10% free withdrawals each year and put those into more A shares. At the same time, you take the old A shares and transfer them into the FIAs.
You do this process for 10 years. Once the Surrender Charges are up on the FIAs, you put them into new FIAs and repeat it all over for another 10 years.
It is called reallocation and keeping a balanced portfolio...


*(Obviously none of the above is meant to be taken seriously)*

 

[sman]

Krobby & Golfnut,
Neither of you two understand how to make money in this industry.

First, you put them 50% into 2 different flex premium Annuities that pay a huge first year comp and have high renewals.
The other 50% goes into A shares.
Then you take your 10% free withdrawals each year and put those into more A shares. At the same time, you take the old A shares and transfer them into the FIAs.
You do this process for 10 years. Once the Surrender Charges are up on the FIAs, you put them into new FIAs and repeat it all over for another 10 years.
It is called reallocation and keeping a balanced portfolio...


*(Obviously none of the above is meant to be taken seriously)*

You're wrong, what you're supposed to do is have them refinance their house and dump $100k into an IUL with $20k annual premiums.

(please no one take me serious on that - but I've seen agents out there promoting this very thing in years past)

 

[Golfnut2112]

W. Virgina,

I disagreed with your advice when I quoted what it was I disagreed with. You are the one jumping to rash generalized conclusions with every response.

But to touch on your new angle, the people prospecting a product certainly realize that there's no perfect solution that fits everyone, and many have higher aum than you.

I know a lot af people with more assets, I was trying to make a point that I do a decent amount of business and never had any customer complaints. 38m is really small potatoes when compared to some people at wirehouses, and even a lot of regular guys like us.