Tough nut to crack
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[quote=Ronnie Dobbs] [quote=noggin] [quote=Ronnie Dobbs] [quote=3rdyrp2] Or a non-public REIT that will pay monthly income to them. Put $50,000 into a REIT paying 6.5% and thats $3,250 per year, or $271/month coming into their checking account that wasn’t there before. Since they are retired (I assume since they consider themselves old), this could be attractive for them. [/quote] Except when they need their money back for an emergency, and they can’t have it.[/quote]
Not true.....you don't know what you are talking about.... [/quote]
Why don't you ask my client who was sold Wells REIT II by another advisor. The "Board" voted not to let anyone have their money back until next year. Oh lets not forget the 9% penalty until 2013 and 5% thereafter. Sounds liquid to me.[/quote] Who's more upset about the money being locked up? You, because you can't put it into something else now that they're your client, or the client because they need the money? I used the "$50,000" example because that's not a lot of money for someone who is retired and has enough money to live on. Private REIT's play a valuable part in many a successful carve out strategy.
I stand by my statement. I should have directed it at everybody who is continuing the argument about how appropriate a REIT would have been in this senario. It doesn't matter, OP wasn't talking with the decision-maker. Move on.[quote=deekay] Windy, shut the hell up and listen to anonymous and Ferris. They’re giving some good advice that even you of all people could use.[/quote]
You’re a f***-stick. I wasn’t arguing with them. I made a comment on 3rd’s post. Make sure you read the thread before you try and start an argument.
[Who’s more upset about the money being locked up? ]
The client, because he needed the money and found out he'll probably never get it back while he's alive.
[quote=noggin] [quote=Ronnie Dobbs] [quote=3rdyrp2] Or a non-public REIT that will pay monthly income to them. Put $50,000 into a REIT paying 6.5% and thats $3,250 per year, or $271/month coming into their checking account that wasn’t there before. Since they are retired (I assume since they consider themselves old), this could be attractive for them. [/quote] Except when they need their money back for an emergency, and they can’t have it.
Not true…you don’t know what you are talking about…[/quote]
Why don’t you ask my client who was sold Wells REIT II by another advisor. The “Board” voted not to let anyone have their money back until next year. Oh lets not forget the 9% penalty until 2013 and 5% thereafter. Sounds liquid to me.[/quote]
My guess is your client was explained the terms of the REIT and agreed that it was in his best interests. Just because it’s not an A-share mutual fund doesn’t mean it’s a bad investment.
Of course, clients conveniently forget any explanation they were given.
[quote=Ronnie Dobbs] [quote=noggin] [quote=Ronnie Dobbs] [quote=3rdyrp2] Or a non-public REIT that will pay monthly income to them. Put $50,000 into a REIT paying 6.5% and thats $3,250 per year, or $271/month coming into their checking account that wasn’t there before. Since they are retired (I assume since they consider themselves old), this could be attractive for them. [/quote] Except when they need their money back for an emergency, and they can’t have it.
Not true…you don’t know what you are talking about…[/quote]
Why don’t you ask my client who was sold Wells REIT II by another advisor. The “Board” voted not to let anyone have their money back until next year. Oh lets not forget the 9% penalty until 2013 and 5% thereafter. Sounds liquid to me.[/quote]
My guess is your client was explained the terms of the REIT and agreed that it was in his best interests. Just because it’s not an A-share mutual fund doesn’t mean it’s a bad investment.
Of course, clients conveniently forget any explanation they were given. [/quote]
No, this particular advisor should not have his license. Very shady guy.
WindBAG, why is it every client you find is dealing with a “shady” advisor? No doubt you scare people into thinking they’ve been robbed and then sell them A shares. You’ll be out of the business in a year.
Because this particular advisor is the one doing most of the shady business, that i have complained about. Not EVERY advisor. Hotair - Suck a nut, seriosuly. Go kick a dog or something. Maybe that will untwist your panties. Because I know you aren't working. I commented on a post and you guys have yet again turned this thread into another bash on me. In fact, Gaddock questioned the same thing, but no Gaddock bash.WindBAG, why is it every client you find is dealing with a “shady” advisor? No doubt you scare people into thinking they’ve been robbed and then sell them A shares. You’ll be out of the business in a year.
[quote=Ronnie Dobbs]
I commented on a post and you guys have yet again turned this thread into another bash on me. In fact, Gaddock questioned the same thing, but no Gaddock bash. [/quote] That's because Gaddock does not wear his moms nightgown and rub himself down with crisco before he posts like you do.[quote=hotair1][quote=Ronnie Dobbs]
I commented on a post and you guys have yet again turned this thread into another bash on me. In fact, Gaddock questioned the same thing, but no Gaddock bash. [/quote] That's because Gaddock does not wear his moms nightgown and rub himself down with crisco before he posts like you do.[/quote]99 percent of advisors are good people and do the right thing. You should work for FINRA since you find all of the dirtbags.