Commission deadbeats beware

[Allen Trent]

Mike is coming for all you sleazy short-tie commission whores that make a 1 time sleazy commission instead of the more admirable fiduciaries that get paid every year for decades. Mikes math says it is better for the client if their fiduciary makes $10-15,000 every year on a $1M fee based account instead of make a sleazy $20-$30k on a $1M mutual fund purchase. Getting paid $500k over 30 years in a fiduciary account is better than 30k on a loaded mutual fund. That is the new math I guess.

You got 9 months advance notice

If Democrats win the presidency, expect to see this retirement regulation back on the table

 

[theleadingagent]

Lol @ “short tie commission whore”

I prefer the “ratchet commission THOT” instead

 

[Newby]

Mike is coming for all you sleazy short-tie commission whores that make a 1 time sleazy commission instead of the more admirable fiduciaries that get paid every year for decades. Mikes math says it is better for the client if their fiduciary makes $10-15,000 every year on a $1M fee based account instead of make a sleazy $20-$30k on a $1M mutual fund purchase. Getting paid $500k over 30 years in a fiduciary account is better than 30k on a loaded mutual fund. That is the new math I guess.

You got 9 months advance notice

If Democrats win the presidency, expect to see this retirement regulation back on the table

Key phrase being “IF the Dems win the White House”.

Nothing to worry about there for at least the next 5-years. Just being realistic. That debate last week was an actual Clown Show. They are all running on 1. We hate a Trump 2. We hate rich people

 

[goillini52]

Key phrase being “IF the Dems win the White House”.

Nothing to worry about there for at least the next 5-years. Just being realistic. That debate last week was an actual Clown Show. They are all running on 1. We hate a Trump 2. We hate rich people

Yep, even the Lib commentators are saying that the winner of that debate was Trump.

 

[scagnt83]

I doubt it will have a huge impact. Fiduciary rule already caused drastic change in the annuity industry on the comp side. It got pulled after most carriers had already made preparations to be compliant. I doubt it would change all that much on the annuity side of the biz.

 

[Allen Trent]

I doubt it will have a huge impact. Fiduciary rule already caused drastic change in the annuity industry on the comp side. It got pulled after most carriers had already made preparations to be compliant. I doubt it would change all that much on the annuity side of the biz.

Actually, many, if not most of the carriers had not fully complied with the aspects that involved counting compensation from qualified products toward bonus programs or trips or conventions or even production awards

And also, DOL made it a conflict of issue violation to be paid on life insurance cases where some of the premiums came from qualified plan distributions....even if the source was RMDs that were forced from the qualified funds. So, DOL considered the agent to be giving self serving advice if a client had to take $10k in RMDs & wanted to buy life insurance with it instead of blowing it at the casino or putting it in .01% bank accounts. Conflict of interest was if it counted toward incentives, bonus, trips, awards

Sure hope it doesnt come back in the exact way it was passed before

 

[Markthebroker]

Mike is coming for all you sleazy short-tie commission whores that make a 1 time sleazy commission instead of the more admirable fiduciaries that get paid every year for decades. Mikes math says it is better for the client if their fiduciary makes $10-15,000 every year on a $1M fee based account instead of make a sleazy $20-$30k on a $1M mutual fund purchase. Getting paid $500k over 30 years in a fiduciary account is better than 30k on a loaded mutual fund. That is the new math I guess.

You got 9 months advance notice

If Democrats win the presidency, expect to see this retirement regulation back on the table

What if I am a commission whore, but I don't wear a short tie?

Or, what if I wear a short tie, but am just a general whore, not just for commissions?

Then what?

 

[Allen Trent]

What if I am a commission whore, but I don't wear a short tie?

Or, what if I wear a short tie, but am just a general whore, not just for commissions?

Then what?

Then you are just plain condescending

 

[Markthebroker]

Then you are just plain condescending

So then I would just be a regular run of the mill whore?

 

[goillini52]

What if I am a commission whore, but I don't wear a short tie?

Or, what if I wear a short tie, but am just a general whore, not just for commissions?

Then what?

You're a tiny left handed whore, that wears a matching tie and cape(baby sh*t yellow), wears a black wig and can fly.