Retirement Planning and Disdain for Insurance

[jmarkk1]

My post is about the gap that exists between these two areas. It seems like there's way too much bad mouthing about products etc. and the client is stuck in the middle. I see this mainly come up when you have clients bring up needs that can be met with products outside the advisors' area of expertise. Securites people sometimes ignore the need for insurance and vice versa.

 

[Bob_The_Insurance_Guy]

Investment Advisers and Financial Planners (securities-based licensure) only want to move money, and get paid in the process. Underwriting is a four letter word, and they don't want to deal with it.

I know. I'm in a practice with 20 IA's and FP's. I am the Life, LTC, Medicare, and DI guy. They don't want to gather health information, and wait on underwriting.

Not disdain. Just no interest.

 

[jmarkk1]

From what I've seen, securities based advisors blatantly ignore needs that can only be met by insurance products. I don't think insurance is the answer for everything, but there are certain needs where insurance makes the most sense.

 

[AnonymousOne]

Agree with all posts.
Brokers get tired of seeing clients in insurance products that don't fit.
Insurance agents get just as tired of seeing client in mutuals or VAs that don't fit.
Bobs setup is great. IAs want to get paid on money management just as agents want to get paid on policies. I think that works great as a team approach.

 

[captiveinsure]

Is that different than a broker throwing mutual funds, ETFS, or managed accounts at everything? Almost all of us have the products we like or are comfortable with.

Or products we know about. Take captive insurance for instance, not too many people know about it yet, it is one of the best financial management tools there is. I do agree with you though that we ultimately have the products we are comfortable with.

 

[jmhalvo]

Or products we know about. Take captive insurance for instance, not too many people know about it yet, it is one of the best financial management tools there is. I do agree with you though that we ultimately have the products we are comfortable with.

you're right- I have no idea what that is

 

[DHK]

This link may help: The Wealth Preservation Institute | Affordable Captive Insurance Company (CIC) Solutions

 

[captiveinsure]

The link above appears to be a good resource. (Note: I have no affiliation with them and I am not in any way endorsing them.) There are many more good research sources online. Unfortunately, I am new here so I don't know if I am allowed to post links but do a Google search for "captive insurance" and you will find a ton of information.