Equity Index Annuity the best ?

[bill3173]

I love commissions and I'm in business to make money. I know you can be commission driven and concerned for the customer, at the same time. In your case, I think you step over the line. You are misleading people about what to do with their money. Do you let them know that if they do "indexing", they will have ZERO money in the stock market? Do you explain to them that they will make more money in a fixed annuity? How would you explain yourself in open court? Aren't you afraid that someone like me will meet your client and explain what you have done? You should be.

Guys like you are the reason that the regulators use to justify making these things securities. Nice job.

I work annuities mostly as a sideline, and have sold fdas' and IAs'. Are there any that you prefer for a customer whose primary focus is preservation of principle but somewhat flexible on the penalty phase? I've sold mostly Allianz and AIG.

One further note in regard to what you've posted above, how would regulation of EIAs' prevent agents from slamming customers? Many stock brokers slam customers into poor performing stocks to make money quickly, buying and selling in short time frames, costing their customers huge $$. Many are pure salesman, with no intention of giving sound investment advice and don't even attempt it.

 

[dannysdad]

I work annuities mostly as a sideline, and have sold fdas' and IAs'. Are there any that you prefer for a customer whose primary focus is preservation of principle but somewhat flexible on the penalty phase? I've sold mostly Allianz and AIG.

One further note in regard to what you've posted above, how would regulation of EIAs' prevent agents from slamming customers? Many stock brokers slam customers into poor performing stocks to make money quickly, buying and selling in short time frames, costing their customers huge $$. Many are pure salesman, with no intention of giving sound investment advice and don't even attempt it.

It's a crazy world, Bill. It's ok to lose 40% of a client's money in individual stocks, but if I put someone into an "illiquid" (10% free withdrawals/year) VA with solid guarantees, and I have to complete 2 hours worth of paperwork!

Patch36 is getting away with his scam because noone is looking over his shoulder, yet. He's a CFP and CLU and probably understands what he is doing. Perhaps, he will start to run a clean practice if he is accountable for what he does.

Even with regulation, I'm sure that people will still be misled about FIA's. B/D's will now love them because they can make money off of them. In 1995, the SEC determined that they were not securities. Nothing has changed since then and now the ARE securities? The regulators survive on fines and penalties. These products represent a whole new base from which to "churn" these fines/penalties.

 

[patch36]

It's a crazy world, Bill. It's ok to lose 40% of a client's money in individual stocks, but if I put someone into an "illiquid" (10% free withdrawals/year) VA with solid guarantees, and I have to complete 2 hours worth of paperwork!

Patch36 is getting away with his scam because noone is looking over his shoulder, yet. He's a CFP and CLU and probably understands what he is doing. Perhaps, he will start to run a clean practice if he is accountable for what he does.

Even with regulation, I'm sure that people will still be misled about FIA's. B/D's will now love them because they can make money off of them. In 1995, the SEC determined that they were not securities. Nothing has changed since then and now the ARE securities? The regulators survive on fines and penalties. These products represent a whole new base from which to "churn" these fines/penalties.

Why do you continue to make assumptions about my business practices that are contrived and based on a generalized forum conversation? Find a new poster child for your BS and insults. Your opinion is not based in fact and much of what you have said can be contested as factually inaccurate or exageration and lies. You are on my ignore list, please put me on yours, Troll.

You are laughable in your attempts to paint yourself as an authority and as the only honest person in the house.

 

[dannysdad]

Why do you continue to make assumptions about my business practices that are contrived and based on a generalized forum conversation? Find a new poster child for your BS and insults. Your opinion is not based in fact and much of what you have said can be contested as factually inaccurate or exageration and lies. You are on my ignore list, please put me on yours, Troll.

You are laughable in your attempts to paint yourself as an authority and as the only honest person in the house.

Patches, alll I'm doing is commenting on what YOU STATED were your business practices. I assume that there are LOTS of honest people on this board. I just don't include you on that list. You sound like a democrat trying to run from what he said. Also, there's no way you're going to ignore what is being said about you.
- - - - - - - - - - - - - - - - - -
Patches, did you say this?

"I sell FIA's, but for the Bonus component, not the Indexes. 90pct of my clients start in the fixed interest account and stay there year after year. I meet with them every year and explain the Index strategies, and they stay in the fixed side, even with the boring rates. If Indexed products go to the BD's, I don't know that I care as long as the companies keep a Bonus product with a fixed account."

 

[Charpress]

As was said earlier, another thread hijacked and down in flames.

Whatever happened to "I see your point, but I disagree with you because..."

Instead, we see: "You are ignorant. You are breaking the law. You are this, you are that."

All this personal stuff is a big, friggin' waste of forum space.

 

[dannysdad]

As was said earlier, another thread hijacked and down in flames.

Whatever happened to "I see your point, but I disagree with you because..."

Instead, we see: "You are ignorant. You are breaking the law. You are this, you are that."

All this personal stuff is a big, friggin' waste of forum space.

Feel better?

 

[Charpress]

Yes. Thank you for asking.

 

[Guest]

As was said earlier, another thread hijacked and down in flames.

Whatever happened to "I see your point, but I disagree with you because..."

Instead, we see: "You are ignorant. You are breaking the law. You are this, you are that."

All this personal stuff is a big, friggin' waste of forum space.

It is because the owner permits it. Perhaps if enough people complain about personal attacks like "you are dishonest and running a scam" the owner might adopt a different policy and put the "dannysdad" and similar posters of the list on read-only or ban them out-right.

I know of no other professional web-board where so many mean-spirited people contribute without some kind of admin oversight.

I'm not saying the owner should go as far as "Top Gun" but IF you are going to run a web board and IF you are going to make money from it via the subscribers, I think you have the responsibility to "police" it just a little bit.

I'm sure there are plenty of fair-minded people here who would volunteer some time to serve as forum moderators (perhaps for a week at a time) and could help the owner keep this list more civil in tone by both canceling posts or "giving" some folks a "time-out" for 30 days or more.

If I were running a board I would never let someone say (or even suggest) that another member kill themselves. But the owner of this board allows that... and it is HIS board and his privilege.

If you disagree enough, just start your OWN board (which I'm thinking about doing next year... but it will be a salon by invite only of myself or a small membership committee. If I decide to do it, it will be open to the public for reading, but not for comment. I don't expect it to get much traffic and I might do it as a listserv instead. I'd be looking to "host" a round-table of the "best and brightest" in the life/health sector of the industry (I would not qualify for membership!) We'll see if I ever bring it off! Don't hold your breath... but if someone wants to steal the idea... go for it!)

If there was the will, the way would be found to make this venue a bit more civil... as it is on web boards for other business groups. On other boards people will make their point but it is done in a spirit of "Let's agree to disagree," and NOT "You're an ass-$#@, why don't you kill yourself."

Al

 

[dannysdad]

It is because the owner permits it. Perhaps if enough people complain about personal attacks like "you are dishonest and running a scam" the owner might adopt a different policy and put the "dannysdad" and similar posters of the list on read-only or ban them out-right.

I know of no other professional web-board where so many mean-spirited people contribute without some kind of admin oversight.

I'm not saying the owner should go as far as "Top Gun" but IF you are going to run a web board and IF you are going to make money from it via the subscribers, I think you have the responsibility to "police" it just a little bit.

I'm sure there are plenty of fair-minded people here who would volunteer some time to serve as forum moderators (perhaps for a week at a time) and could help the owner keep this list more civil in tone by both canceling posts or "giving" some folks a "time-out" for 30 days or more.

If I were running a board I would never let someone say (or even suggest) that another member kill themselves. But the owner of this board allows that... and it is HIS board and his privilege.

If you disagree enough, just start your OWN board (which I'm thinking about doing next year... but it will be a salon by invite only of myself or a small membership committee. If I decide to do it, it will be open to the public for reading, but not for comment. I don't expect it to get much traffic and I might do it as a listserv instead. I'd be looking to "host" a round-table of the "best and brightest" in the life/health sector of the industry (I would not qualify for membership!) We'll see if I ever bring it off! Don't hold your breath... but if someone wants to steal the idea... go for it!)

If there was the will, the way would be found to make this venue a bit more civil... as it is on web boards for other business groups. On other boards people will make their point but it is done in a spirit of "Let's agree to disagree," and NOT "You're an ass-$#@, why don't you kill yourself."

Al

If I was wrong about you breaking the law, why did you remove the offending material from your website?

I dare you to find a post where these quoted words were uttered: "You're an ass-$#@, why don't you kill yourself."

 

[Guest]

If I was wrong about you breaking the law, why did you remove the offending material from your website?

That was answered earlier. I expect it will be back up by the end of the week. So far no one who has read the year's worth of newsletters (except you) has found anything criminal, but the process is not complete yet.

I dare you to find a post where these quoted words were uttered: "You're an ass-$#@, why don't you kill yourself."

I believe a higher authority will determine what you meant when you suggested suicide. You should speak to a lawyer... or not. I don't care. It is out of my hands.