Looking for a Completely Liquid Account 500k

[scagnt83]

If a registered rep. JNL also has a zero CDSC product, Perspective II Advisors. JNL will let you move in and out of the fixed bucket, and the M&E charges are less than Pru's.

Good point. JNL is hard to beat these days.
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what was the one year at 3% product?

I'm going back on Friday to hit some points home again with him. Basically I'm also going to tell him he can have his liquidity and better returns all while the money being safe by just moving a small amount or 25% of his money. Once that happens I'll try and peel away more but some folks at 79 are just a little stubborn.

The nice thing is the wife likes my ideas and I'll stay in touch a few times a year by dropping by their business. If something happens to him I know I'm gonna have no less than a million dollars to work with.

Explain to him that the CDs dont really give him much liquidity either.
They still have surrender charges, even 6 month CDs.

Your right to go for only a portion of the money. Ease him into the idea of annuities; plus it will provide steady income over the next few years.


I am going to assume that your not registered since you havent commented on the VA option.
If you are, you really should look at Pru or JNL. A 50% fixed/50% bond fund VA might just be the perfect thing for this guy....
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Actually.
I am going to go so far as to say that he would JUMP at that option given current interest rates.....

 

[padthaiforlunch]

How did he conclude he may need to spend $500k plus whatever income he gets in the next three or four years?

This seems ridiculous. Is this his way of telling you he's not interested?

 

[0b1kanobee]

How did he conclude he may need to spend $500k plus whatever income he gets in the next three or four years?

This seems ridiculous. Is this his way of telling you he's not interested?

He didn't. He concluded that he wants a completely liquid account that pays more than CD's. His wife told me that it has taken her the past few years to convince him to stop working 7 days a week and go to 6. He is a tuff old buzzard but I like him.

I'll speak to my brother about JNL as he is contracted with them. I'm not securities licensed, he is.

I'm also having to overcome a hurdle or two from my buddy who found this guy. He was doing walk and talks with health and has done 2 annuities with me. Well I do them and split them if he finds the people. This is the third one he found and I closed the other 2 but he sort of said more than he should of on this one. I guess he had to go home and change his pants when the guy said "well I have 500k to 600k that isn't making me much in CD's".

Hence why he thinks he may need to spend it to buy more rental properties which the wife isn't too fond of because if something happens to him then she has to handle all of that. hence why she likes my ideas so far. He was not their when I went back, which was a good thing as I got to spend some time with her. He is expecting me on Friday as I told him I would go shopping and see what if any other products I could find without locking his money up for too long.

It is a funny thing this business. Everyone client has their issues. The last annuity I just did had a 15 year surrender and the client didn't blink an eye. I offered 5 year, 9 year and 15 year. The 15 years was not a big deal to them because I was putting an income for life rider on it and it had the highest payout. They were more concerned about Obama and I explained I could do nothing about our current government administration.

Thanks so much for the current ideas from everyone. If I can make something happen, I'll let you know what I did and what product/s used. If anybody else has anymore ideas on products, let me know.
Thanks again!

 

[kennethbroyles]

I just want to say thanks for letting me tag along on this case.
Please keep sharing.

 

[HarryRenard]

what was the one year at 3% product?

.

Liberty Bankers does have a 1yr but it doesnt pay 3%, I think its 1.75%. and the comp is under 1%.