Postmark Mailhouse for Annuities

Mar 12, 2007

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  1. honestagent
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    honestagent Guru

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  2. L5tc
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    L5tc Super Genius

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    Looks Like another Cold Solutions to me

    1) Find out what the wording on the piece they are mailing is.

    (for instance - Cold Solutions sends a card that states "you might have annuity that has come due." and there's an 800 number. The problem is that people do call either angry because they think you have their personnel information OR they think you found them money. They accept an appointment because they want to either yell at you or get a checkThis would be about 9 out of 10 appts they booked)

    2) Find out the return policy

    Cold Solutions/Investors Union records the calls as well but it's to their benefit. If they get the person on the line to accept an appointment or SOUND like they're accepting it then the agent is charged and they will NEVER back off.


    Do yourself a favor - offer to review annuities at senior centers and you'll make money and save alot with these Bull###t scams.
     
    L5tc, Mar 18, 2007
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  3. honestagent
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    honestagent Guru

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    I've heard mixed things about Cold Solutions but never anything good or bad about this company. Thanks for the suggestions. Should I move forward with this (should is the operating word here) at a later point in my life, I will take heed.
     
  4. NHB_MMA
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    NHB_MMA Guru

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    How do you approach that? Do you find them at all resistant or pretty welcoming? I was told the local senior center is a real pain in the ass for letting anyone solicit, but a neighboring town has a couple of them that welcome people. I would think these people are looking for anyone to come in and talk to these folks.

    What is your approach? You walk in the door of a senior center/retirement community and say what?
     
    NHB_MMA, Mar 22, 2007
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  5. L5tc
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    L5tc Super Genius

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    I just got finished canvassing senior centers

    I literally just walked in - and did a group talk yesterday.

    It's not a no brainer (but 3300 out the window with cold solutions was no brains)

    But it's a good way to get in front of people and they're very appreciative of helpful information. Yes they don't want you to shill products but if they like you you and you help them they will ask for your card. Everyone's looking for someone to trust.

    For instance yesterday I spoke to 50 seniors and ended up talking about the pension protection act of 2006 and non-spousal IRA inheritance and they LOVED that.

    A lot of them didn't understand the 1035 roll over - that they could get a better rate and not have to cash out. One problem I'm having is the older fixed products, from the 80's have a base rate of 4% which is not much lower than the bonused rates right now. I won't move that money let someone else do it.

    The biggest no no? Don't bother with LTCi! If they could afford it they would have it. It's not like it's a secret to them, these older people are besieged by LTC salespeople.

    There's no magic bullet for any marketing of the products that we selll. The only place to really like people up and sell annuities is a bank or to teachers for their TSA's and that's it. Annuity marketing systems are a joke.

    (Actually the way I've been salvaging the Cold Solutions appointments is asking the older people if they belong to senior centers! - they do they like me and it's a great way to get in front of a lot of people quickly)
     
    L5tc, Mar 22, 2007
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  6. NHB_MMA
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    You didn't schedule it ahead of time? I wouldn't think the turnout would be good.

    Sales to seniors has to be a slow process, in my opinion. One can kill his reputation if he walks in and pushes for a check.

    I'm sure many aren't aware of that.

    At a bank?
     
    NHB_MMA, Mar 22, 2007
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  7. L5tc
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    L5tc Super Genius

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    Opps Sorry

    I meant I had just walked in from the seminar and was looking at the computer. Of course I scheduled it.

    That last remark of mine was unintelligable :idea:

    What I meant was I find most of the people I see who have annuities either;
    1) bought them at a savings bank
    2) bought them via a 403 (b) TSA plan

    I'm not saying that's the only way people that buy them but an inordinate amount seem to come from those sources.

    Actually I found the only "appropriate" fixed annuity, in my mind, are the older teachers who have variable annuities. It's incredible how these annuities are NEVER allocated properly. They're allocated at the time of purchase and that's pretty much it so if the client is in their late 70's, say, they're much better off in a fixed product and the 1035 suits them because they won't have to pay taxes if they don't need the money.
     
    L5tc, Mar 23, 2007
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  8. policy doctor
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    Back to Postmarks: several of my brokerage houses are recommending them. So someone somewhere made money. As to cost, the amount of $$ you have available determines in which direction you can afford to go.

    But you need a % of new clients to keep your agency growing. Advertising is part of your marketing budget. Remember, nothing is foolproof or we all would be doing it.
     
  9. maxreferrals
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    Often times, BDs and FMOs do recommend these companies because
    they receive compensation from the mailing house, in return for
    each rep who orders.

    Nothing wrong with that. Just realize the word-of-mouth may
    have some hidden influence.

    That comp. is typically in the form a reduction/discount in the next
    mailing costs that the referral source conducts.
     
  10. djs
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    djs Super Moderator Moderator

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    Why? I understand they need stability over growth. But why does this require they move the money to a fixed annuity? Why not just move the money to the money market subaccount that I think every variable annuity has?

    I've not sold any annuities, so I'm just curious about this statement. I'd have a lot to learn befoe I would feel comfortable with putting peoples money in an annuity for them. They are excellent financial vehicles, but they've got a few 'gotchas' that I haven't figured out yet.

    Dan
     
    djs, Apr 11, 2007
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