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The video also, very specifically and quite extensively, discusses that one advantage of the product for a consumer and their financial advisor is a more limited application of suitability concerns to the purchase than there would be in an annuity purchase situation.
I am starting to hear the word "fit" enough that I am beginning to question whether or not that is a real life practice in the sale or purchase of an SMA product.
There is another side to the concern of fit.
I have been drooling over SMA listings on a vendors website for a couple of years so I am very generally informed of their concept of providing a "cash flow" or a "chunk of change" to a purchaser. So as a prospective purchaser of an SMA product, I come up with 2 suitability questions of my own.
--- Is a structured financial settlement, slangily referred to as an SMA, a legitimate financial product?
(I have considered asking about that here a few times in the last 24 months, but have never done so.)
--- Is the particular SMA salesperson interviewed in the podcast, and to whom I have been referred, an honest and reputable person with whom to do business?
(One of the reasons I did not earn enough money while working to have HNW levels of financial resources in retirement is that I never was able to get the skills of managing and directing and effectively working with people. It is most fascinating that I have had to make crash efforts along those lines in the past months in order to fulfull ethical responsibilities I have to others relating to dealing with my family's financial situations. I have failed more than succeeded, but have made some progress.)
I am starting to hear the word "fit" enough that I am beginning to question whether or not that is a real life practice in the sale or purchase of an SMA product.
There is another side to the concern of fit.
I have been drooling over SMA listings on a vendors website for a couple of years so I am very generally informed of their concept of providing a "cash flow" or a "chunk of change" to a purchaser. So as a prospective purchaser of an SMA product, I come up with 2 suitability questions of my own.
--- Is a structured financial settlement, slangily referred to as an SMA, a legitimate financial product?
(I have considered asking about that here a few times in the last 24 months, but have never done so.)
--- Is the particular SMA salesperson interviewed in the podcast, and to whom I have been referred, an honest and reputable person with whom to do business?
(One of the reasons I did not earn enough money while working to have HNW levels of financial resources in retirement is that I never was able to get the skills of managing and directing and effectively working with people. It is most fascinating that I have had to make crash efforts along those lines in the past months in order to fulfull ethical responsibilities I have to others relating to dealing with my family's financial situations. I have failed more than succeeded, but have made some progress.)
