Dateline Undercover on right now

[Crabcake Johnny]

if my opinion doesn't matter than you shouldn't be upset.

 

[senior-advisor-indiana]

I'm not upset. I just find it hard to believe that you would have such a strong opinion on something you know nothing about. How do you know what seniors want and how do you know what is best for them? What do you know about annuities?

 

[Crabcake Johnny]

I'm merely letting you know the advice I'd give a senior. If I had a 62 year old client who said:

"Hey John, I really need some help with my retirement portfolio and I'm very concerned with maximizing my savings and investment"

The advice I would give, yet again, is:

"Tim, find a licensed financial profession who's local, has an office and has been in business for at least 10 years."

My advice would not be "find an insurance agent."

Sorry - you simply cannot compare the complexities of investing to health insurance. If you think it's comparable then I can't help you. They're also not comparable to cars or anything else.

And it's not what I know about annuities - I don't sell them. It's what you know about them and all the other investments your annuity clients may have their money invested in.

Do you really think you have the skill level necessary to examine someone's financial portfolio?

 

[sman]

Actually, that's exactly the case. When I sold Pontiacs we all drove new Pontiac demos. The first thing I got when I went to sell Beemers was a Beemer demo to drive - every senior sales rep owned one. But the dealership owner didn't want any of his sales people driving around in anything but a Beemer.

Obviously there are situations where a rep cannot own the product. Annuities are not one of those situations. Justify it all you want....large commissions often require justification.

John,

You're just off your freakin' rocker. I'm going to type this real slow so you can understand.

ANNUITIES ARE NOT SUITABLE FOR EVERY PERSON AND SITUATION. THEREFORE, NOT EVERYONE SHOULD OWN ONE. THAT DOES NOT MEAN THAT THAT SAME PERSON SHOULDN'T SELL ONE.

It amazes me how someone who admittedly knows nothing about a product can advise others not to sell them or tell them what requirements they should have in order to do so. While I'm on that subject, there is a difference between "advise" and "advice". You stated the following in an earlier post on this thread:

That's why my advise for any senior taking financial advise would be to deal with:

The proper word is "advice".

And now you're showing some ignorance about commissions. Some of the annuities that some have mentioned on here (a 3-year fixed annuity) pays, at most, 2.50% commission. And it's likely less. I know of a carrier that has a 1 year annuity that pays 3.75% interest and a whopping 0.30% commission. I know another company that pays a 1 year guarantee of 5.50% interest on $75k or more of qualified money (A++ rated carrier) and has no surrender charge. The client can put the money in today and take it out any time without penalty. And it pays a whopping 1% (which is actually good considering there's no surrender charge). I can see how that could really damage a persons financial situation.


You're just as bad as the guy you've been arguing with about the Time convention. You think your way is the only way. If John Petrowski doesn't agree with it (whether he understands it or not) it can't be right. Make sure you go and sell some RightStart plans. You may not sell used cars anymore, but you sure sound like a used car salesman.

 

[Crabcake Johnny]

You will never change my opinion - and it's just that; my opinion. Don't know why you're so riled up over it. Who are you trying convince that you're right - me or you?

 

[senior-advisor-indiana]

John, the point is that you do not have enough knowledge to have a legit opinion.

 

[Crabcake Johnny]

SAI - your avatar is starting to scare me

 

[senior-advisor-indiana]

For the record, I do not advise anyone on their sock portfolio. I deal with their "safe" money. The money that they do not know what to do with that is setting there deflating to inflation. Actually most of the people I deal with do not own and would never think of puting their retirement money in an unsafe investment where they could lose money.

I sell gaurantees John. Sorry that it makes you upset that you have to sell 10 individual plans to equal one annuity sale.

 

[Crabcake Johnny]

Money's not the ultimate goal for me. I enjoy and have a passion for health insurance. If commissions were cut across the board to 10% I'd still be selling health. If annuities and helping seniors is one of your passions and you're an expert at what you do that's most of the battle. And trust me - my income does not upset me.

 

[senior-advisor-indiana]

I love working with seniors and have never had any complaints. I just don't understand how someone can form such a strong opinion from nothing. Does the media have that big of influence on you?

Is this avatar better.