Index Annuities
82 RepliesJump to last post
Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
Best of luck to you Hank. I know the pitch, and prepare clients for it. In fact I talk about my fee all the time.
But will you use your new found knowledge?Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
[quote=Sam Houston]Best of luck to you Hank. I know the pitch, and prepare clients for it. In fact I talk about my fee all the time.[/quote]
Prepare them for this: “Sam believes in putting your money at risk and charging an EXTRA fee to do so. I believe in keeping your money safe and NOT charging you a fee.”
But will you use your new found knowledge?[/quote] Probably not. Selling annuities is easier, more profitable and less time-consuming than being a stock jockey. I've got people to help. I can't help them if I'm staring at a computer screen all day. But if you taught me your system, I might be tempted to change my point of view.[quote=deekay]Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
They are prepared for this. I find it funny that a guy who keeps calling me a liar believes that a clients money invested in an EIA does not pay the 8% rip. Delusional or stupid, you pick.[quote=Sam Houston]Best of luck to you Hank. I know the pitch, and prepare clients for it. In fact I talk about my fee all the time.[/quote]
Prepare them for this: “Sam believes in putting your money at risk and charging an EXTRA fee to do so. I believe in keeping your money safe and NOT charging you a fee.”
But will you use your new found knowledge?[/quote] Probably not. Selling annuities is easier, more profitable and less time-consuming than being a stock jockey. I've got people to help. I can't help them if I'm staring at a computer screen all day. But if you taught me your system, I might be tempted to change my point of view.[/quote] I am not looking to do what is easiest, though that is exactly the opinion your peers have about the majority of annuity sales. I would argue with you on profitablility. I spend about 15 minutes a day checking the charts. I am not a stock jockey. If you want to know what I do, go to the DWA webiste, buy the book, have at it. I am willing to bet that the amount of work involved in learning your craft will prevent you from doing so.[quote=Sam Houston][quote=deekay]Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
If I gave a rip about investment management, it might be a worthy pursuit. My clients like protection, promises, and guarantees. So I sell fixed and variable annuities, life, and disability income insurance. Why complicate my practice with charting when it can't be guaranteed and my clients don't want to hear about stuff that's not guaranteed? Seems like that would be the first step to unprofitability.
But will you use your new found knowledge?[/quote] Probably not. Selling annuities is easier, more profitable and less time-consuming than being a stock jockey. I've got people to help. I can't help them if I'm staring at a computer screen all day. But if you taught me your system, I might be tempted to change my point of view.[/quote] I am not looking to do what is easiest, though that is exactly the opinion your peers have about the majority of annuity sales. I would argue with you on profitablility. I spend about 15 minutes a day checking the charts. I am not a stock jockey. If you want to know what I do, go to the DWA webiste, buy the book, have at it. I am willing to bet that the amount of work involved in learning your craft will prevent you from doing so.[/quote][quote=deekay][quote=Sam Houston][quote=deekay]Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
I've had dinner with Tommy Dorsey and I think he's a great guy. However, I've used them as a money manager and they sucked at it. Since you've already established yourself as a liar, I have to believe that you suck more than Dorsey Wright.
[quote=deekay]
If I gave a rip about investment management, it might be a worthy pursuit. My clients like protection, promises, and guarantees. So I sell fixed and variable annuities, life, and disability income insurance. Why complicate my practice with charting when it can't be guaranteed and my clients don't want to hear about stuff that's not guaranteed? Seems like that would be the first step to unprofitability.
[/quote] Then we are after different clients. More power to you.But will you use your new found knowledge?[/quote] Probably not. Selling annuities is easier, more profitable and less time-consuming than being a stock jockey. I've got people to help. I can't help them if I'm staring at a computer screen all day. But if you taught me your system, I might be tempted to change my point of view.[/quote] I am not looking to do what is easiest, though that is exactly the opinion your peers have about the majority of annuity sales. I would argue with you on profitablility. I spend about 15 minutes a day checking the charts. I am not a stock jockey. If you want to know what I do, go to the DWA webiste, buy the book, have at it. I am willing to bet that the amount of work involved in learning your craft will prevent you from doing so.[/quote][quote=Sam Houston][quote=deekay][quote=Sam Houston][quote=deekay]Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
I've had dinner with Tommy Dorsey and I think he's a great guy. However, I've used them as a money manager and they sucked at it. Since you've already established yourself as a liar, I have to believe that you suck more than Dorsey Wright.
[/quote] The great thing about America is everyone is allowed an opinion. The opinions that I care about are those of my clients. Call me a liar all you want, my clients know what I do for them.
[quote=deekay]
If I gave a rip about investment management, it might be a worthy pursuit. My clients like protection, promises, and guarantees. So I sell fixed and variable annuities, life, and disability income insurance. Why complicate my practice with charting when it can't be guaranteed and my clients don't want to hear about stuff that's not guaranteed? Seems like that would be the first step to unprofitability.
[/quote] I like that, I'm going to remember that. I love what I'm doing so much that I'm giving a wirehouse competitor two 401k plan leads that I don't want to waste my time with. One is a start-up of 20-30 people, the other is a $2MM plan. I just don't want to deal with it.But will you use your new found knowledge?[/quote] Probably not. Selling annuities is easier, more profitable and less time-consuming than being a stock jockey. I've got people to help. I can't help them if I'm staring at a computer screen all day. But if you taught me your system, I might be tempted to change my point of view.[/quote] I am not looking to do what is easiest, though that is exactly the opinion your peers have about the majority of annuity sales. I would argue with you on profitablility. I spend about 15 minutes a day checking the charts. I am not a stock jockey. If you want to know what I do, go to the DWA webiste, buy the book, have at it. I am willing to bet that the amount of work involved in learning your craft will prevent you from doing so.[/quote][quote=Hank Moody] [quote=Sam Houston][quote=deekay][quote=Sam Houston][quote=deekay]Well, shoot. Why didn’t I think of point and charting? I’ve got this whole business all wrong! Thank you for showing me (and the rest of the pikers on this board) the error of our ways!
I've had dinner with Tommy Dorsey and I think he's a great guy. However, I've used them as a money manager and they sucked at it. Since you've already established yourself as a liar, I have to believe that you suck more than Dorsey Wright.
[/quote] The great thing about America is everyone is allowed an opinion. The opinions that I care about are those of my clients. Call me a liar all you want, my clients know what I do for them.[/quote]
If your clients know what you do for them, why have you lost some because of the WB name? Which on of these claims is the lie?
Then, we will put your money into an account that only goes up and never goes down and you will not pay ANY commissions or fees."
Hank: <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
I have a question for your what crediting method do you use for clients in the "Master Dex 5" annuity, the Monthly Sum Crediting, Monthly Average Crediting or Annual Point to Point.
I would also like to know what index you suggest.
I am also assuming that you are talking about “Master Dex 5 Plus”. Please correct me if I am wrong.
Jack Black
My first post on this forum. I’ve been a lurker for a few years, but I couldn’t resist jumping into the conversation.
My background. I started life as an attorney, practiced 5 years, then moved into estate/tax/financial planning. Started as an independent. Securities licensed. Had my own business w/a business partner that didn't see eye to eye with me. Sold the business to him and took over an office at EJ (very bad choice, but due to the timing of the business sale, I was limited on my options). I am currently the compliance officer at one of the largest wholesalers of fixed indexed annuities in the nation. I have sold both indexed annuities and securities. In my opinion, you are comparing apple and oranges. Indexed annuities are not designed to beat the market. Actuarily speaking, they should give a 5.5 - 8% return while keeping money safe. Over the last 10 years they are within that range for an annualized return. On the continuum of MM, CD, fixed annuities, they are next in line. Historically, they out perform traditional fixed annuities. They are a great tool for safe money, income planning in retirement. They are not a substitute for securities and never will be. If anyone would like to speak more about them, feel free to contact me. I can have one of our internal wholesalers answer any and all questions you may have. We do have all the resources for any questions you may have about historical performance, product features etc. BTW, we represent over a dozen carriers and are familiar with virutally every indexed annuity available. Use us as your resource. You can PM me.[quote=ManOnTheCouch]My first post on this forum. I’ve been a lurker for a few years, but I couldn’t resist jumping into the conversation.
My background. I started life as an attorney, practiced 5 years, then moved into estate/tax/financial planning. Started as an independent. Securities licensed. Had my own business w/a business partner that didn't see eye to eye with me. Sold the business to him and took over an office at EJ (very bad choice, but due to the timing of the business sale, I was limited on my options). I am currently the compliance officer at one of the largest wholesalers of fixed indexed annuities in the nation. I have sold both indexed annuities and securities. In my opinion, you are comparing apple and oranges. Indexed annuities are not designed to beat the market. Actuarily speaking, they should give a 5.5 - 8% return while keeping money safe. Over the last 10 years they are within that range for an annualized return. On the continuum of MM, CD, fixed annuities, they are next in line. Historically, they out perform traditional fixed annuities. They are a great tool for safe money, income planning in retirement. They are not a substitute for securities and never will be. If anyone would like to speak more about them, feel free to contact me. I can have one of our internal wholesalers answer any and all questions you may have. We do have all the resources for any questions you may have about historical performance, product features etc. BTW, we represent over a dozen carriers and are familiar with virutally every indexed annuity available. Use us as your resource. You can PM me. [/quote]Don't you have to start life as a baby?
Not if you’re an attorney, you’re actually born a pr*ck!
Just Kidding I couldn't resist, it was too easy.