Insurance companies

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fullcircle's picture
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Joined: 2007-07-25

If working for an insurance company, are you able to retain your series 7 and 63? Are they qualified sponsors?You should as long as they are members of the NASD, right?

theironhorse's picture
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Joined: 2007-03-03

Most all have their own B/D or affiliation.  I have been at NML(Baird), Principal(Princor), New England(New England).  So yes, they do.

troll's picture
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Joined: 2004-11-29

How good a financial advisor is somebody who cannot manage their own finances?

pretzelhead's picture
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fullcircle wrote:If working for an insurance company, are you able to retain your series 7 and 63? Are they qualified sponsors?You should as long as they are members of the NASD, right?
Not to be rude, but shouldn't your husband do his own due diligence?

troll's picture
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pretzelhead wrote:
fullcircle wrote:If working for an insurance company, are you able to retain your series 7 and 63? Are they qualified sponsors?You should as long as they are members of the NASD, right?
Not to be rude, but shouldn't your husband do his own due diligence?

That would explain all sorts of stuff.

fullcircle's picture
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Joined: 2007-07-25

theironhorse wrote:Most all have their own B/D or affiliation.  I have been at NML(Baird), Principal(Princor), New England(New England).  So yes, they do.
Thank you, much appreciated!

fullcircle's picture
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Devil'sAdvocate wrote:How good a financial advisor is somebody who cannot manage their own finances?He isn't a financial advisor...he is a broker, which is a glorified salesman, lol...and he can sell VERY well. Thanks for your thoughts though. :)

troll's picture
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fullcircle wrote: Devil'sAdvocate wrote:How good a financial advisor is somebody who cannot manage their own finances?He isn't a financial advisor...he is a broker, which is a glorified salesman, lol...and he can sell VERY well. Thanks for your thoughts though. :)
How does a salesman who can sell "VERY well" not earn enough to avoid destroying their credit?

fullcircle's picture
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Devil'sAdvocate wrote:fullcircle wrote: Devil'sAdvocate wrote:How good a financial advisor is somebody who cannot manage their own finances?He isn't a financial advisor...he is a broker, which is a glorified salesman, lol...and he can sell VERY well. Thanks for your thoughts though. :)
How does a salesman who can sell "VERY well" not earn enough to avoid destroying their < id="google-toolbar-hilite-0" style=": Cyan; color: black;">credit?My apologies if I entered a forum and ignited user tension and stress as these replies have been rather harsh. I am simply coming here for job-related info. Buy a stress ball instead of taking it out on unsuspecting people. ;)If you are THAT interested in our sad story (and, no, he did not destroy our credit...a tragedy did) then you can PM me.

BondGuy's picture
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Joined: 2006-09-21

Devil'sAdvocate wrote:How good a financial advisor is somebody who cannot manage their own finances?
DA, actually, I've seen this (bankruptcy) happen to some pretty smart advisors. Categorizing them as not being able to manage their own finances is simplistic. The guys i know, mostly, ran into problems with outside business interests. Wife started a biz, they pour in 1/2 a mill and start borrowing to keep it going. Things don't work out and the repo man shows up. I know a million dollar producer in my area who just went through this scenerio.  Know another that was bankrupted by medical expenses related to his daughters metal illness, apparently the dark area of medical coverage,  and another who sought protection from a non advisory biz lawsuit.
You may look at these individuals as weak sister types having no place in our industry, but knowing them, that would be a mistake.

troll's picture
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BondGuy wrote:
Devil'sAdvocate wrote:How good a financial advisor is somebody who cannot manage their own finances?
DA, actually, I've seen this (bankruptcy) happen to some pretty smart advisors. Categorizing them as not being able to manage their own finances is simplistic. The guys i know, mostly, ran into problems with outside business interests. Wife started a biz, they pour in 1/2 a mill and start borrowing to keep it going. Things don't work out and the repo man shows up. I know a million dollar producer in my area who just went through this scenerio.  Know another that was bankrupted by medical expenses related to his daughters metal illness, apparently the dark area of medical coverage,  and another who sought protection from a non advisory biz lawsuit.
You may look at these individuals as weak sister types having no place in our industry, but knowing them, that would be a mistake.

You're the epitome of a weak sister, so that you apologize for them too is not unexpected.
Having no standards is so easy, isn't it?

BondGuy's picture
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Joined: 2006-09-21

Devil'sAdvocate wrote:BondGuy wrote:
Devil'sAdvocate wrote:How good a financial advisor is somebody who cannot manage their own finances?
DA, actually, I've seen this (bankruptcy) happen to some pretty smart advisors. Categorizing them as not being able to manage their own finances is simplistic. The guys i know, mostly, ran into problems with outside business interests. Wife started a biz, they pour in 1/2 a mill and start borrowing to keep it going. Things don't work out and the repo man shows up. I know a million dollar producer in my area who just went through this scenerio.  Know another that was bankrupted by medical expenses related to his daughters metal illness, apparently the dark area of medical coverage,  and another who sought protection from a non advisory biz lawsuit.
You may look at these individuals as weak sister types having no place in our industry, but knowing them, that would be a mistake.

Having no standards is so easy, isn't it?

Having no standards would be better than having your standards. You are the racist who would hunt Muslims for hatred of their religion. And yet you seem to have some delusional claim to the high road? You are a very entertaining cartoon character.
 
 

troll's picture
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BondGuy wrote:
Having no standards would be better than having your standards. You are the racist who would hunt Muslims for hatred of their religion. And yet you seem to have some delusional claim to the high road? You are a very entertaining cartoon character.

Racist?  Where in the world did you get that idea?
Hunt Muslims?  What I said was that the country is teeming with guys who would be happy to hunt them if there was a season, like deer.
Do you disagree?  Do you think the country is not teeming with people who would do that?

BondGuy's picture
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Devil'sAdvocate wrote:
BondGuy wrote:
Having no standards would be better than having your standards. You are the racist who would hunt Muslims for hatred of their religion. And yet you seem to have some delusional claim to the high road? You are a very entertaining cartoon character.

Racist?  Where in the world did you get that idea?
Hunt Muslims?  What I said was that the country is teeming with guys who would be happy to hunt them if there was a season, like deer.
Do you disagree?  Do you think the country is not teeming with people who would do that?

After what I read on this board today how could I possibly disagree?
As for you, your zionist hate betrays your intellectual honesty.

troll's picture
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BondGuy wrote:
After what I read on this board today how could I possibly disagree?
As for you, your zionist hate betrays your intellectual honesty.

Am I a Zionist who hates, or do I hate Zionists?
I'm actually a Catholic who doesn't hate anybody.  What I would like to see is every Muslim in the country fear for their lives and leave.
Why would that be a negative--other than a possible shortage of cous-cous.

troll's picture
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troll's picture
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Suppose you were a compliance officer and one of your managers proposed hiring a guy with horrible credit.
Can you envision the trouble down the road when clients begin to file arbitration demands and the firm is being forced to defend their decision to allow somebody who could not manage their own money to manage the financial affairs of others?
I am a seasoned pro-industry arbitrator and I would rulle for the customers in a heartbeat.
There are too many things that can go wrong when a firm lowers their standards.
There is also a difference in living with a current employee who is in financial difficulty and making a new hire who has financial difficulty.
Often it is best to face realities and get on with your life instead of banging your head against door after door after door.
A person with self respect would ask themselves why they would want to work for a firm with very loose employment standards.
What did Groucho Marx say about clubs?

troll's picture
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Devil'sAdvocate wrote:
What did Groucho Marx say about clubs?

They look good across the heads of baby Harp seals?

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