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Dec 22, 2009 6:45 pm

I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.

Dec 22, 2009 8:42 pm
52new:

I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.

  Sounds low compared to what?
Dec 22, 2009 8:45 pm
chief123:

[quote=52new]I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.

  Sounds low compared to what?[/quote]   It's my understanding that VA sales at other firms carry a much larger gross commission. With that being said, get over the Jones vitriole. If you have so much a problem with it 52, quit.
Dec 22, 2009 9:01 pm

If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.

Dec 22, 2009 9:04 pm

Some firms payout 6%, some 4%, some 2% with a 1% trail.

Dec 22, 2009 9:40 pm

[quote=52new]I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.[/quote]

Unless you want to pay your own light bill and lease and phones, and assistant, and everything else, that sounds about right. In fact, if my calculations are correct, it looks like you’re on a 40% payout. Actually sounds pretty solid.
My only question is the 275 bps commish. I recently sold a Lincoln Choice VA and it paid 5%. Was the client over 80??? But when all is said and done, it sounds about right.

Dec 22, 2009 10:06 pm

He sold an A share annuity that charges the client 3.5% upfront at the $100K breakpoint with a 2.75% dealer concession and a 25bps trail starting at the 13th month.  If he put i4Life on it the trail goes up to 50bps.  He netted 40% of that.

52 - in answer to your question - you got paid exactly what the prospectus stipulates.  It would suprise me to hear that a non Jones FA does A share annuities, so you may not get an apples to apples comparison.  Had you done a B share you would have been paid more.  4.75% + a 25 bps trail in month 13 through the 7th year and then a 1% trail years 8 & up.  Of course the client would be paying more in expenses, but you'd have been paid better.    And yes, other firms get paid better than we do on annuity tickets.  Something to look forward to when you leave us.  We'll miss you.    
Dec 23, 2009 12:07 am

[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]

Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs.

I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.

Dec 23, 2009 12:26 am

[quote=SometimesNowhere]

[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]



You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on.

Dec 23, 2009 1:52 am

[quote=52new] [quote=SometimesNowhere]

[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]



You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]

I don’t need to know where you came from to know you are a piker, piker. I doubt anyone selling skin cream in the mall made 6 figures, liar.

Dec 23, 2009 2:09 am
iceco1d:

WTF are these “A” and “B” share annuities?  And a front end load going in?  I have no clue what’s going on here.  I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). 

Is this an EDJ thing? 

  I believe EDJ is the only firm that offers A Share annuities
Dec 23, 2009 2:21 am
SometimesNowhere:

[quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]

You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]

I don’t need to know where you came from to know you are a piker, piker. I doubt anyone selling skin cream in the mall made 6 figures, liar.

Actually, he's been the most successful person at everything that he's ever done for the past 50 years.  I just can't figure with all of his success how/why he would have to start in a brand new industry from ground zero.  I'm assuming that he is now the top Jones producer in the country. (unless somewhere along the line he stopped being the best)
Dec 23, 2009 3:57 am

[quote=52new] [quote=SometimesNowhere]

[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]



You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]



Liar

Dec 23, 2009 4:15 am

[quote=iceco1d]WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client).

Is this an EDJ thing?


[/quote]

It means basicly nothing to the clients vs mutual funds… but it does play a key role in 2 things… Fees/Surrenders/Compensation.

A share annuity Pays about 5 to 6% to the firm/indy producer. 7 year surrender typically, lowest M&E expense.

B Share annuity, which is typically a Bonus annuity. 7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%. higher M&E expense to make up for the bonus.

C Share annuity, very rare. typically a 1 to 3 year annuity, with small or no surrender charges. Highest M&E fees.

L Share annuity is an inbetween hybrid. very popular at wirehouses. 3 to 5 year surrenders with comp just shy of 5% on some. I think lincoln paid 5.75%

Dec 23, 2009 4:32 am

[quote=B24] [quote=52new] [quote=SometimesNowhere]

[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]



You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]



Liar[/quote]



F-ck you and your koolade drinking bed pal. But keep answering my posts. I love insulting losers.

Dec 23, 2009 5:22 am

[quote=iceco1d] WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). Is this an EDJ thing?

[/quote]



you are the biggest piker on this board. you and your multiple screennames. shut up icehole.

Dec 23, 2009 2:06 pm
52new:

[quote=B24] [quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]

You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]

Liar[/quote]

F-ck you and your koolade drinking bed pal. But keep answering my posts. I love insulting losers.

    You're still a liar.
Dec 23, 2009 3:43 pm

[quote=aeromaks] [quote=iceco1d]WTF are these “A” and “B” share annuities?  And a front end load going in?  I have no clue what’s going on here.  I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). 

Is this an EDJ thing? 

[/quote]

It means basicly nothing to the clients vs mutual funds.... but it does play a key role in 2 things... Fees/Surrenders/Compensation.

A share annuity Pays about 5 to 6% to the firm/indy producer.  7 year surrender typically, lowest M&E expense.

B Share annuity, which is typically a Bonus annuity.  7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%.  higher M&E expense to make up for the bonus.

C Share annuity, very rare.  typically a 1 to 3 year annuity, with small or no surrender charges.  Highest M&E fees.

L Share annuity is an inbetween hybrid.  very popular at wirehouses.  3 to 5 year surrenders with comp just shy of 5% on some.  I think lincoln paid 5.75%

[/quote]   You're pretty close with the A & B share annuity thing.  At Jones, there is no surrender schedule with an A share.  It is by far the cheapest way to put big money into an annuity.  The lower M&E will save a ton of money over the client's lifetime. Payout to the advisor is almost identical to an A share mutual fund with the exception of the $1MM breakpoint where the commission is still 1%.       As for the B share, we don't do bonus annuities at Jones.  We do a traditional annuity contract.  7 year surrender with a 1.25ish M&E.  Commission is 4.75 or 5%.  Payout is 40% under $100K and 35% or less over $100K.  The reasoning for the drop in payout is that Jones believes the A share pricing structure is better for more than $100K.    We've only got one provider, well two if you count SunAmerica, with a C share and I've never used it.  It think it works just like a C share fund.  1% commission with a little bit higher M&E than a B share and it pays a higher trail.  No CDSC fee if I remember right.  I don't know that I've ever talked with another FA who has sold a C share annuity.    We don't have the L share.  I wish we did.  I'd like to have something between the A & B surrender schedule. 
Dec 23, 2009 8:27 pm

[quote=Spaceman Spiff][quote=aeromaks] [quote=iceco1d]WTF are these “A” and “B” share annuities?  And a front end load going in?  I have no clue what’s going on here.  I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). 

Is this an EDJ thing? 

[/quote]

It means basicly nothing to the clients vs mutual funds.... but it does play a key role in 2 things... Fees/Surrenders/Compensation.

A share annuity Pays about 5 to 6% to the firm/indy producer.  7 year surrender typically, lowest M&E expense.

B Share annuity, which is typically a Bonus annuity.  7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%.  higher M&E expense to make up for the bonus.

C Share annuity, very rare.  typically a 1 to 3 year annuity, with small or no surrender charges.  Highest M&E fees.

L Share annuity is an inbetween hybrid.  very popular at wirehouses.  3 to 5 year surrenders with comp just shy of 5% on some.  I think lincoln paid 5.75%

[/quote]   You're pretty close with the A & B share annuity thing.  At Jones, there is no surrender schedule with an A share.  It is by far the cheapest way to put big money into an annuity.  The lower M&E will save a ton of money over the client's lifetime. Payout to the advisor is almost identical to an A share mutual fund with the exception of the $1MM breakpoint where the commission is still 1%.       As for the B share, we don't do bonus annuities at Jones.  We do a traditional annuity contract.  7 year surrender with a 1.25ish M&E.  Commission is 4.75 or 5%.  Payout is 40% under $100K and 35% or less over $100K.  The reasoning for the drop in payout is that Jones believes the A share pricing structure is better for more than $100K.    We've only got one provider, well two if you count SunAmerica, with a C share and I've never used it.  It think it works just like a C share fund.  1% commission with a little bit higher M&E than a B share and it pays a higher trail.  No CDSC fee if I remember right.  I don't know that I've ever talked with another FA who has sold a C share annuity.    We don't have the L share.  I wish we did.  I'd like to have something between the A & B surrender schedule. [/quote]   Couple of observations: B share is not the same as a bonus product. I don't do bonus products but do use B share products. The cheapest way to put money into a VA may not be the best way. The cheapest way would not be to start out 3.5% in the hole. For example Prudential has a B share product that reduces the M & E from 1.25% to .65% after 7 years. My assumption would be that these days many contracts would be written with living benefit riders which increase the costs inside the contract. If you are looking at cost there is a cost for that and not putting it on a contract would be cheaper, but would it be better??   I would have to say having a limited amount of providers may be easier on the FA but it seems to have a chilling effect on the consumer. The more choices you have the more competitive and better job that you can do for your client. I don't use L or C shares with my clients but could if I chose to. 
Dec 24, 2009 3:45 am

[quote=Spaceman Spiff] [quote=aeromaks] [quote=iceco1d]WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). Is this an EDJ thing?

[/quote]





It means basicly nothing to the clients vs mutual funds… but it does play a key role in 2 things… Fees/Surrenders/Compensation.



A share annuity Pays about 5 to 6% to the firm/indy producer. 7 year surrender typically, lowest M&E expense.



B Share annuity, which is typically a Bonus annuity. 7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%. higher M&E expense to make up for the bonus.



C Share annuity, very rare. typically a 1 to 3 year annuity, with small or no surrender charges. Highest M&E fees.



L Share annuity is an inbetween hybrid. very popular at wirehouses. 3 to 5 year surrenders with comp just shy of 5% on some. I think lincoln paid 5.75%

[/quote]



You’re pretty close with the A & B share annuity thing. At Jones, there is no surrender schedule with an A share. It is by far the cheapest way to put big money into an annuity. The lower M&E will save a ton of money over the client’s lifetime. Payout to the advisor is almost identical to an A share mutual fund with the exception of the $1MM breakpoint where the commission is still 1%.



As for the B share, we don’t do bonus annuities at Jones. We do a traditional annuity contract. 7 year surrender with a 1.25ish M&E. Commission is 4.75 or 5%. Payout is 40% under $100K and 35% or less over $100K. The reasoning for the drop in payout is that Jones believes the A share pricing structure is better for more than $100K.



We’ve only got one provider, well two if you count SunAmerica, with a C share and I’ve never used it. It think it works just like a C share fund. 1% commission with a little bit higher M&E than a B share and it pays a higher trail. No CDSC fee if I remember right. I don’t know that I’ve ever talked with another FA who has sold a C share annuity.



We don’t have the L share. I wish we did. I’d like to have something between the A & B surrender schedule. [/quote]



Wrong dummy. Pull a hypo on a protective B share VA with a 10 year look back at 200k. Tell me which performs better.



You are as dumb as a box of rocks.