Jones average pay: $65k?
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Never said youngest ever, youngest at the point I was there. Not only can you not sell you can't read. I'm seeing a trend here.[quote=voltmoie] …My goal in this business has never been to make the most money, to be the biggest producer. Even now I work less than many of my peers. It’s simply to get my business up to 175k net per year and prop my feet up. Windy and many others have different objectives, I respect that. I’ve spent the last 10 years in corporate America rising to the ranks of Sr. VP (youngest in a fortune 100 company), working 80hr weeks, and now understand work/life balance. To each their own.
[/quote]
Youngest EVER!!!
Volt must have gotten into Jones and HARVARD!!!
[quote=Spaceman Spiff]
Of course FS isn't going to stop it. Your OPINION is that UITs aren't appropriate for big money. If you think that and you land a $2MM account, don't use UITs. I don't really think you're qualified to pass judgement on whether they are or not. Once you've had some good quality bonds go from 98 to 25 or even worse, bankruptcy, then perhaps you can make a call like that. Have a couple of conversations like that with your $2MM client and then tell us what you think about UITs. I personally think that it's a wise move to include something besides individual bonds and bond funds into the mix for a client that size. My OPINION is that he should have put at least some of that money into Advisory. But then, she's not my client, so I don't get to say.
I don't believe he ever said he doesn't know what he's selling. I think he is mistaken on how much he's going to get paid. I remember selling my first 1035 LI policy thinking the same thing. I was suprised when the payout hit my commission screen. And not a little disappointed. My guess is he grosses somewhere near $7-8K rather than $35K. [/quote] I love UITs in general but there are some issues with larger clients, I think. UITs for corporate, only way I sell them. UITs for muni, foolish if the client has real resources. Do individual bonds or UITs pay a better commission rate, Spiff? How are the yields between the two? Get off your high horse and stop blindly defending Windy. It is his client though and I'm only speaking theoretically, he knows her risk tolerance and goals. I do not. Think it's awesome he landed a whale. That account will buy him a car. (windy, check out MoneyGaurd with that insurance client - easy to sell and fills a need) - Full disclosure, I will not and have not been using UITs on my 2mm+ dollar client.[quote=Moraen] [quote=deekay] [quote=Moraen]The only issue I have is: WHAT IS THE LIFE INSURANCE FOR? That hasn’t been explained.[/quote]
This, coming from the guy who says that we don't NEED anything other than clothing and shelter. Does it really matter? If it's something the client wants, they'll buy it. If it's something Ronnie is pushing to generate a commission, and has no viable benefit to the client, he'll get caught, canned, and barred.
If I had to venture a guess, they are 1035ing the CSV into a new policy that gives better guarantees or lower target premium. [/quote]
Guesswork? Is that what we're doing now?
You tell me, what do you NEED?
Still doesn't answer the question. Spiff posted a couple of possible answers. What if she doesn't have any heirs? We don't know any of that.
You are all right though. Who cares? I've seen Jones guys do some shady stuff with life insurance is all. Go ahead and not question it. After all, does it really matter in the big scheme of things?[/quote] Hey tough guy, until we know ANY facts, any conclusion is reasonable. I made a reasonable GUESS based on the limited info we had. I could be dead wrong. For all I know, Ronnie is a scumbag who is doing hideously bad things to his client. But you as the insurance expert should know that there isn't a sufficient amount of facts to make either conclusion.
Yes. And that was what I was trying to get to: Facts. That’s why I asked the first question: What is the insurance for?
I should have used one of those emoticons on the guesswork deal. Somebody said that to me recently. About the guessing that is.
[quote=Still@jones]
[quote=voltmoie]
…My goal in this business has never been to make the most money, to be the biggest producer. Even now I work less than many of my peers. It’s simply to get my business up to 175k net per year and prop my feet up. Windy and many others have different objectives, I respect that. I’ve spent the last 10 years in corporate America rising to the ranks of Sr. VP (youngest in a fortune 100 company), working 80hr weeks, and now understand work/life balance. To each their own.
[/quote]Youngest EVER!!!Volt must have gotten into Jones and HARVARD!!![/quote]
Hey Still - how’s your business coming?
Man, I just pulled this thread up again…has anyone in the history of RegRep single-handedly caused longer, faster, dumber threads than Windy? And I am not necessarily blaming that on him. I just don’t get it. Half the people on this board have their panties in a wad over this guy. Like 5 pages just posted today.
This whole argument is dumb. I didn’t understand how I was paid, not why she needed insurance. She already had insurance to give to her 6 children when she dies. We are simply looking at her contract, to see if we can lower her premium and maybe raise her death benefit. Since her policy is over 20 years old, there are better products to give her that option. No wholesaler was involved in finding or talking about her life insurance needs. We discussed that, I took the policy, and shopped for insurance. What I make doesn’t have anything to do with whether or not she needed it. I would have done it for her if I didn’t make a dime. I just didn’t understand the payout and have been told one way from multiple people. If thats wrong whooptie doo! If it’s not, great for me.
You guys really do have your panties in a wad. I could say I forfeited a sale to talk an older cleint into going to Europe instead of investing a large portion of her money (Because shes 80 and always dreamed of going) and you would tell me I'm a horrible advisor and don't deserve to be handling peoples money. Stop questioning details that don't mean anything to the conversation. This discussion started about how the commissions are paid and you made it about me being a bad advisor because I didn't know how I got paid. My guess is I'd be a good advisor if I helped someone, not caring what I got paid until after the fact. Wouldn't you? So please drop all the stupid arguments about me being a bad advisor, lying and blah blah. It's funny. Today i was at a new FA meetnig and one of the FA's said, "Hey do you post on Reg Rep" I said yes. He said, "Man, I was just searching for something and saw what they are saying about you. They don't realize you're not lying". Name of the game I suppose. Do well and everyone hates you!Man, I just pulled this thread up again…has anyone in the history of RegRep single-handedly caused longer, faster, dumber threads than Windy? And I am not necessarily blaming that on him. I just don’t get it. Half the people on this board have their panties in a wad over this guy. Like 5 pages just posted today.
I'll take some of that blame. But don't care.
Wind/Big Ronnie - All you had to do was answer what it was for. Also, no one thinks you are a bad advisor for telling someone to go to Europe.
What I do think, is that you brag incessantly about numbers, when you don't see anybody else up here posting theirs. And it's not because they don't make some good jack. It's because they have some tact and decorum.
Someone as concerned with gross as you are doesn't seem to be someone who is putting their clients' interests first. You say you would have done it if you didn't make a dime. Who are you kidding? All you talk about is how you are blowing people out of the water (which, by the way, you are doing a whole hell of a lot better than I was when I first started) with your gross and how many big accounts you are getting.
To me, that is someone more concerned with their own bottom line than with their clients' interests.
Not true at all. My clients come first. It just so happens that i’m doing a great job and being paid for my help. I wasn’t bragging, I was talking sh*t to Volt. Difference.
Not true at all. My clients come first. It just so happens that i’m doing a great job and being paid for my help. I wasn’t bragging, I was talking sh*t to Volt. Difference.
Talking sh*t = is fair game.
Bragging about numbers (on two threads) = is bragging
[quote=voltmoie][quote=Spaceman Spiff]
Of course FS isn't going to stop it. Your OPINION is that UITs aren't appropriate for big money. If you think that and you land a $2MM account, don't use UITs. I don't really think you're qualified to pass judgement on whether they are or not. Once you've had some good quality bonds go from 98 to 25 or even worse, bankruptcy, then perhaps you can make a call like that. Have a couple of conversations like that with your $2MM client and then tell us what you think about UITs. I personally think that it's a wise move to include something besides individual bonds and bond funds into the mix for a client that size. My OPINION is that he should have put at least some of that money into Advisory. But then, she's not my client, so I don't get to say.
I don't believe he ever said he doesn't know what he's selling. I think he is mistaken on how much he's going to get paid. I remember selling my first 1035 LI policy thinking the same thing. I was suprised when the payout hit my commission screen. And not a little disappointed. My guess is he grosses somewhere near $7-8K rather than $35K. [/quote] I love UITs in general but there are some issues with larger clients, I think. UITs for corporate, only way I sell them. UITs for muni, foolish if the client has real resources. Do individual bonds or UITs pay a better commission rate, Spiff? How are the yields between the two? Get off your high horse and stop blindly defending Windy. It is his client though and I'm only speaking theoretically, he knows her risk tolerance and goals. I do not. Think it's awesome he landed a whale. That account will buy him a car. (windy, check out MoneyGaurd with that insurance client - easy to sell and fills a need) - Full disclosure, I will not and have not been using UITs on my 2mm+ dollar client. [/quote] What issues are there with uit's and large clients? What benefit does Moneyguard have for the insurance client? If it is a LTC case but you want them to have the LI DB, then I'd look at Moneyguard. But if it's a LI case and you want to add a LTC bene onto the policy I'd look at the Hartford Rider. Hartford will give them a better DB than the Moneyguard policy will. Of course UITs pay better than individual bonds. But CDs pay way less than individual bonds and UITs but yet he said he used both. Why aren't you commending him on using CDs instead of bashing the UIT idea? I'm not blindly defending Windy. You, and a lot of other folks, have some sort of issue with anything and everything he does. I'm just trying to point out that there may be some other facts besides the ones you folks keep making up.Didn’t talk about it in 2 threads. Only the 30 Day War. All I said here was Volt was pissed cause I whooped his ass, then gave my goals. Once you guy’s panties got caught in your ass and you started in like usual, then i simply answered all the questions. If you wouldn’t start your crap in the first place, I wouldn’t even bring them up.
Spiff - it’s $2M that I am building an entire portfolio. For some reason Volt is stuck on UITS alone, because i said I would add SOME. MM,CD’s, Bonds, UIT’s, Bond Funds (Short Term, Long Term, and High Yield), G/I, and Growth. I mean, what besides Advisory could I do otherwise. She has insurance and Annuities already. I may not know everything because I haven’t been at this for 20 years, but I’m smart enough to know what I should be doing and thats what’s best for the client. I feel like I am doing that. Taking her income from $35,000 a year from her old funds to $120,000 with my portfolio, Getting her out of 90% Index funds at 70 years old (that she ultimately liquidated because we couldn’t hold them), Consolidated all 7 of her accounts and more importantly being the person that she knows will do whats best for her. Show up at her house and be her go to guy. By the way, this lady also just was diagnosed with MS. You guys need to stop with the criticism.
How dare you question Windy! He is never wrong and has never made a mistake. He is all knowing and perfect. It’s never his fault and always someone else. He is perfect GP material.
You better stop the insurance process now before you submit the application. She most likely will be denied by the insurance company, and thus have a permanent mark on her MIB report. Not good. Instead, I would suggest you call some underwriters from some carriers and pose your "hypothetical" senario. Better yet, partner up with someone in your region who knows insurance and split the case with them. In fact, split all your insurance cases in your first year. What you don't know can cause serious client issues. This will not be good for your career, and can even stop it before it starts.By the way, this lady also just was diagnosed with MS. You guys need to stop with the criticism.
Spiff … reading your posts is like watching paint dry. Give 'ol Hartford a call and see if they’ll do a long term care rider for a policy under 100k. Learn something son.
Windy knows the situation, he said he was new to insurance, giving him an idea - it could fit, it could not. Looks like you need my help too. Just PM me next time you have a question.Never said youngest ever, youngest at the point I was there. Not only can you not sell you can't read. I'm seeing a trend here.[/quote][quote=Still@jones] [quote=voltmoie] …My goal in this business has never been to make the most money, to be the biggest producer. Even now I work less than many of my peers. It’s simply to get my business up to 175k net per year and prop my feet up. Windy and many others have different objectives, I respect that. I’ve spent the last 10 years in corporate America rising to the ranks of Sr. VP (youngest in a fortune 100 company), working 80hr weeks, and now understand work/life balance. To each their own.
[/quote]
Youngest EVER!!!
Volt must have gotten into Jones and HARVARD!!!
there's no way you made sr vp in a fortune 100 company with that sentence structure; unless, they were giving out titles instead of raises...
"Sorry Mr. Volt, we can't move you to Mailroom3 this year because of budget constraints. So instead, we are going to move you to Senior Vice President of Packages. The pay will be the same; but, you get business cards."
Never said youngest ever, youngest at the point I was there. Not only can you not sell you can't read. I'm seeing a trend here.[/quote][quote=voltmoie][quote=Still@jones] [quote=voltmoie] …My goal in this business has never been to make the most money, to be the biggest producer. Even now I work less than many of my peers. It’s simply to get my business up to 175k net per year and prop my feet up. Windy and many others have different objectives, I respect that. I’ve spent the last 10 years in corporate America rising to the ranks of Sr. VP (youngest in a fortune 100 company), working 80hr weeks, and now understand work/life balance. To each their own.
[/quote]
Youngest EVER!!!
Volt must have gotten into Jones and HARVARD!!!
there's no way you made sr vp in a fortune 100 company with that sentence structure; unless, they were giving out titles instead of raises...
"Sorry Mr. Volt, we can't move you to Mailroom3 this year because of budget constraints. So instead, we are going to move you to Senior Vice President of Packages. The pay will be the same; but, you get business cards."
[/quote] You have a job yet?
[quote=Ronnie Dobbs]By the way, this lady also just was diagnosed with MS. You guys need to stop with the criticism.
You better stop the insurance process now before you submit the application. She most likely will be denied by the insurance company, and thus have a permanent mark on her MIB report. Not good. Instead, I would suggest you call some underwriters from some carriers and pose your “hypothetical” senario.
Better yet, partner up with someone in your region who knows insurance and split the case with them. In fact, split all your insurance cases in your first year. What you don’t know can cause serious client issues. This will not be good for your career, and can even stop it before it starts. [/quote]
DK- The Lady that just was diagnosed with MS has $2M. This is not the same person with the insurance policy. This is what I’m talking about. Everyone is spouting off randomly and un-controllably, these criticisms, without any idea of the ACTUAL details.
WHOA!!! 90% of $2,000,000 is $1,800,000. How much of that $1,800,000 you had her liquidate is non-qualified, and how much capital gains is she exposed to? I'm guessing if she's 70 then not a whole lot of it was qualified money.Taking her income from $35,000 a year from her old funds to $120,000 with my portfolio, Getting her out of 90% Index funds at 70 years old (that she ultimately liquidated because we couldn’t hold them), Consolidated all 7 of her accounts and more importantly being the person that she knows will do whats best for her.