The Death of the L Share at WFA
WFA is about to announce that L shares will no longer be offered beginning 5/2.
The choices will be C/B share.
The B share will have the option to shorten the surrender period like an L share. After the surrender period is over the internal expenses will revert to B share pricing.
There will be 4 commission options.
All that info is correct...What a wonderful vision you must have had of all of this 3 weeks ago...with such clarity I might add... Are you an insider at the annuity desk or a wholesaler? My market manager claimed to not know this was coming when he was asked about it a couple of weeks ago when I saw this post. Either way, we just got bit again by the mongrel we feed every day... I think I need to go get a Tetanus shot of Absolute.
There was a management conf call around the time I wrote that post so it was partially out there so your mgr must not have been paying attention.
Did they give a reason for the change? Just curious to see if it will happen at Bank of America/Merrill Lynch.