Why stay at BOA any longer?
Dec 16, 2007 10:29 pm
New year, get out!! When the new proprietary annuities come out it isn’t gonna get any better. Look nout for your family and get out now!
Dec 26, 2007 7:58 am
I work for a firm that is being bought out by B of A.
Can you tell me a little more about these proprietary annuties???Dec 26, 2007 3:11 pm
It has been delayed because of feedback from the field.
Basically, the 3 and 4 year options were to be eliminated (cost) and only a 7 year would be available based on the fact that most VA sales are made based on income riders (which are inherently long term benefits). Costs in the 7 year would be marginally cheaper - and, of course, the comp would be less. I heard they scrapped and have statred over. Bottom line: there are no proprietary annuities now - but rest assured, they are trying to get the companies to create a product specific to BOA. Something like this never just goes away.Dec 26, 2007 5:21 pm
Thanks for the info!!
Dec 26, 2007 9:58 pm
[quote=NOFX]It has been delayed because of feedback from the field.
Basically, the 3 and 4 year options were to be eliminated (cost) and only a 7 year would be available based on the fact that most VA sales are made based on income riders (which are inherently long term benefits). Costs in the 7 year would be marginally cheaper - and, of course, the comp would be less. I heard they scrapped and have statred over. Bottom line: there are no proprietary annuities now - but rest assured, they are trying to get the companies to create a product specific to BOA. Something like this never just goes away.[/quote] I assume you are with LaSalle, if you are, I hope we start offering the brokered CDs again. great way to raise AUMSource URL:https://www.wealthmanagement.com/forums/whats-firms/why-stay-boa-any-longer