- Thread starter
- #11
- 10,806
You mean as a RIA?
That would still mean being under the hand of FINRA and dealing with the same regulations....
Regulated to Death... Life of an RR
- Thread starter scagnt83
- Start date
You mean as a RIA?
That would still mean being under the hand of FINRA and dealing with the same regulations....
- 8,707
Yes and No...Under 30 Million in assets you can be regulated by your states Securities Dept. and if you are in a state with an exemption from the Series 65 then no FINRA involvement. My understanding is that the rule book for RIAs is much thinner than RRs go figure.
- 2,455
I guess it all depends on your business model. I know with my current model, if I didn't have a RR that I bring in to work on certain cases (one of my mentors), I would be turning down certain business.
I ether would have to go and get my securities license or change course. Now I feel like I have the best of both worlds so I'm good.
The only time I feel like a securities license is needed is to offer the V/A but with FIAs doing so well, the V/A hasn't quite yet taken back over as the best game in town but they are improving.
Met Life has a V/A out and after 10 years if you lose all your money or ya want it back, they hand it over. I don't know of much else where you can go play in the market for 10 years and walk away with your initial monies. Lots of other bells and whistles too in that product.
I ether would have to go and get my securities license or change course. Now I feel like I have the best of both worlds so I'm good.
The only time I feel like a securities license is needed is to offer the V/A but with FIAs doing so well, the V/A hasn't quite yet taken back over as the best game in town but they are improving.
Met Life has a V/A out and after 10 years if you lose all your money or ya want it back, they hand it over. I don't know of much else where you can go play in the market for 10 years and walk away with your initial monies. Lots of other bells and whistles too in that product.
- 15,041
Not exactly if you are referring to the GMIB. You can annuitize the amount after 10 years.
- 2,455
The Metlife v/a has a guarantee that if your account is below where it started at year 10, you get the initial premium back. It's on the L series.
- 15,041
Just a standard GMAB rider then. Never cared much for it. If all I am doing is getting my money back after 10 years, I lost money.
- 2,455
Well there is no charge for it. It is built into the product. I'm sure somebody besides you finds value in it. I'm selling it to someone who perceives value there. I'm not selling it to you. I found it interesting myself. I wouldn't make it a selling point. The product isn't designed to do that is it? Just another feature.
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- 15,041
Its built into the M&E, it isn't free.
Lots of people buy GMABs, good for them. I personally see no value in it. If they do, great for them. Its just not for me.
