How Do You Sell Annuities

[djs]

We have established that it would not be rigtht for you so I cannot think of any reason why you would do it. However, the market is comprised of many different types as discussed. There are many, many people who have been stuck in CD's or savings accounts for years and are not going into securities. It does not match their risk tolerance or their wishes. We may know what is better for them but they have a different view and thye are in charge and are adults. An indexed annuity, for example, can be a very worthy consideration for them even if it is not your/our choice.
Assuming again, that we look at it from the suitability of the client rather than at all of the spiffy American Funds, or Fidelity funds that we think they should be in. You have people who have 200,000 in CD's that they just roll year after year. We can talk endlessly about how that is not right for them but it is a fact of life that they do not want to go into the market. An annuity is a good consideration for them, if they want. It would not be right for *you* though. Except, the market is made up of people who are not us.

Winter

Good answer Actually, I get the fact that different clients want different things. The funny thing is, if they have their mind set on something (anything), trying to talk some sense into them is what will get you in trouble. Annuities might be a great fit for them, trying to talk them out of other investment vehicles and into annuities will get you into trouble. Also, if annuities are a bad fit, but they want them, talking them out of an annuity and into something else will get you into trouble. Can't win.... (I think, though I'm not sure, that you are still allowed to tell them about various options, just not allowed to use much persuasion)....

I understand your logic about using qualified money in annuities. I don't disagree that if a customer wants to do it, it is the correct thing to do.


Dan

 

[James]

With the 6 & 63 you have to be a rep. of a Broker Dealer, and deal with their rules/attitudes and FINRA. When you are a 65 if you have your own RIA you work directly with the SEC, there are no middle men, and most of FINRA's crazy rules do not apply.

Matt

Then again, the B/D takes care of the compliance issues such as continuation planning and advertising compliance not too mention training and emergency issues, I suppose that is why they give you famous haircut. As a RIA, you have to take care of that yourself and if you are not in full compliance that little license is going away and may result in some stiff fines by the SEC. I do not see why anyone would go that route, only to sell annuities?

Now if you really want to get into financial planning, by all means the 65 is great. Just understand, if one is having trouble making it in Insurance, taking on the added troubles of a RIA or IA license is sure death. IMHO, going around and prospecting/marketing for Financial Planning as a Fee Only Rep is far more difficult then selling Fix Insurance products. Plus not mentioning the learning curve is a bit more drastic to say the least! LOL, most Insurance Agents can not explain how the EIA or WL actually works, now they are going to attempt to explain the finer techniques of allocation and asset protection, not too mention business continuation planning just too name a few?
Goodluck!

 

[ci2655]

Seminars with good food is always a big draw. Qualify who shows up though.

Lincoln's Money Guard is a great product with LT health features.

 

[sman]

Seminars with good food is always a big draw. Qualify who shows up though.

Lincoln's Money Guard is a great product with LT health features.

Whew! Sure am glad you revived a thread that is nearly 7 years old.

 

[smokin goose]

Whew! Sure am glad you revived a thread that is nearly 7 years old.

https://www.youtube.com/watch?v=Syr3ip3Hju8&feature=youtube_gdata - Video Tube for YouTube - iPhone/iPad

 

[SanDiego619]

https://www.youtube.com/watch?v=Syr3ip3Hju8&feature=youtube_gdata - Video Tube for YouTube - iPhone/iPad

More like this......

 

[jlata1]

whats the best direct mail lead program for annuties?

 

[VolAgent]

whats the best direct mail lead program for annuties?

Mine. I have never failed to close an annuity DM lead.

 

[jlata1]

And what is your dm lead program?

 

[Stephen]

Mine. I have never failed to close an annuity DM lead.

I am using the same program, haven't had a single one that didn't move less than $50k.