Ed Slott-elite IRA Advisors

[insuranceexec]

Sigh...

I had someone come in today who has about $2.5 million in IRAs and he had a copy of Slott's latest book. I had put together a plan for him to Roth and Life thereby reducing income taxes by $209k at today's income tax rates.

"Slott really likes life insurance", he says, holding up the book.

No disagreement so far.

"Slott even seems to like annuities, which is totally different than he used to write."

Had to suppress a guffaw at this point.

"Slott says you need to carefully choose your advisor and to look carefully for certain skill designations when you pick an advisor."

OK, gloves off at this point.

I sez: "Let me tell you how this works with Slott & Co."

I then told him about how anyone who wants to pay Slott a fee can have a "designation" and that he (the guy I was talking to) could have one himself if he wanted. I told him that Slott's advice was pretty much good, but keep in mind that he has an agenda DESPITE WHAT HE SAYS just like everyone else.

Whether I get this sale remains to be seen. Any guesses as to whether Slott is helping or hurting my chances at this point?

By the way, one of Slott's anointed ones is doing a seminar in my town this week -giving away free Slott books "if you reserve your seat right now". I have a feeling my guy will be going if he heard about it.

I would tell the prospect about it, and remind him of what you told him.

Have the prospect ask questions geared toward the certain designations, and the validity behind them.

I have done this numerous times when I was "in the hunt" for a new prospect.

Send them off to listen to another guy or gal's spill, or as you like to call it a "dog and pony show," and tell them you will get back to them.

Sometimes it works; sometimes it does not. I hope this helps.

 

[annuityseller]

this is why it's important to have a income planning designation( ed's or someones) and then theywon't get away!!! Appearance is half the battle!!!

 

[insuranceexec]

this is why it's important to have a income planning designation( ed's or someones) and then theywon't get away!!! Appearance is half the battle!!!

Are you kidding?

How long have you been in the business?

http://thomas.loc.gov/home/gpoxmlc111/s906_is.xml

 

[rbrewer]

Tell him to read another book and gather some more information by the time he is ready to make a decision he may not even need your services and his family can pay what ever money is left to the IRS because they deserve what he worked his whole life to save for. ***!!! If only we could say what we think to them, without hurting the sale.

 

[annuityseller]

Ed has spent his whole career trying to be the Guru,know cause of public TV he's reaching the masses. All I'm saying is why fight city hall-figure out an avenue that will accomphist the same End but for alot less money(If a real designation can do that great!!) besides taking american college courses never hurt any one, knowledge can be a dangerous thing in the wrong hands