Dave Ramsey

[Mr. Bill]

So, after the Edward Jones dialogue, we move on to Dave Ramsey.

First, IS THIS GUY LICENSED AT ALL???? I've heard not. Ever. Never. No insurance. No securities. Even Suze Orman at least passed the test once.

I've heard he wants his Dave Ramsey advisor minions to peddle term insurance, and term only. If your client purchases WL/UL, you're outta there.

He believes in A share mutual funds. Whatever. Truly, to have such a one-track mind when it comes to investing, is scary.

He believes in commission-only sales reps. In other words, fee-based advisors, whether financial planners, cpas, whatever, are not allowed into his crazy little hack world.

Now, this doesn't mean some of the principles he espouses aren't good (I don't like debt), the whole enchilada is missing much more than the cheese!

 

[TXINSURANCE]

I wrote him a long bio and letter to become one of his ELP's - I do not sell whole / UL - only term figured I would pass the test.

I never heard a response. It is my understanding the fees are $500 to $1000 per month and leads are minimal - could be an expensive venture.

I would also wonder how many of the leads are "broke" since they are listeners to a show that revolves around people making bad life choices and bad priorities.

I do think Dave is a good person and I do find him mildly entertaining teaching people common sense. I do not think he qualified to talk smack about whole / UL which DO serve a purpose for SOME people.

 

[Mr. Bill]

I heard the monthly fees depend on the area, whether the show is broadcast on a local station, size of population, etc. Then, the "leads" or referrals or whatever you want to call them are about $30-50 per.

 

[midwestbroker]

I know of a couple of agents who listen to Dave and I do here and there.

There are some things I agree with, and other I do not, but I usually see where he is coming from.

Example: Credit Cards -
Dave -pay off the smallest balance first them move on

Me - Pay of the highest interest card first, them move to the next

However, I see where Dave might be coming from. The focus is to pay off the cards. To pay one off is a great feeling, and I think that is what he is pushing. If you go after the largest interest rate one first, and it takes forever to pay it off, then you are more likely to give up.

As for his radio show, how many times can you listen to people who are trying to get out of car leases, looking to borrow against their homes, are in danger of loosing their house, etc.

 

[somarco]

Bluemarlin is an ELP. He seems to do well within their system.

Like TX, I applied and never heard a word from them. I suppose common courtesy is not a virtue with his staff . . .

 

[GreenSky]

Bluemarlin is an ELP. He seems to do well within their system.

Like TX, I applied and never heard a word from them. I suppose common courtesy is not a virtue with his staff . . .

I applied as well and never heard. However I chalked this up to be an Atheist and assumed I was on some sort of "black list."

Guess not. Now I don't have to feel guilty about my beliefs.

Rick