Jones and John Hanc***/PacLife
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Just heard and read about the new distribution agreements with PacLife and JH through EJ.
What do the Jones guys and others think of this agreement and offering? What kind of insurance products/companies was Jones marketing before?
Genworth, Hartford, MetLife, Lincoln, Protective, AIG/SA. Now Hanc*** and PacLife as well. But we can also sell many other vendors, we just don’t have them as preferred partners (Jones automatically appoints you with all of these partners). Most Jones guys don’t know this. I have never sold another product (honestly not interested in researching more insurance products), but I hold annuities from others (AXA, Prudential, Allianz, Allstate, ING). I am appointed with all of these.
Term, GUL, UL, VUL, VA, FA, SPIA DI through Met only. It's fine, adds two more partners, hopefully continues to keep products competitive. Unless insurance and annuities are a big part of your business, researching other providors is probably a waste of time.Do most of you guys focus on investments and do a little insurance if they ask or is it a priority with all clients - ie Life, DI, LTC
B-
Pac Life I have been using for several years. Last year they eliminated their double in 10 years for the income base calculation which put them behind the competition. They say they will be back in the game at some point, I think it will probably start with an index product before they get back to enhancing living benefits. My practice is about 30% annuities with the focus on the living benefit primarily. As an indy, I have too many options, and with the landscape changing every day during the market turmoil last year, it was challenging to stay on top of it. Every wholesaler says they have the best in the industry...which doesn't help in determining which is most appropriate for clients. I have used AIG (before collapse), Pac Life, Met, Transamerica (my favorite currently),Jackson, Lincoln, Nationwide. I try to split tickets so that my clients are not exposed to only one carrier should any problems arise (any company that took TARP funds as an example).I am currently reviewing Allianz and Prudential. Both have good stories some restrict investments and in the case of Pru they reserve the right to move totally to cash without client consent (that rubs me the wrong way). Their performance last year though requires further consideration...for those tactical nuts out there they were out early and appear to have some merit. But as I said further diligence is necessary. Interested if anyone else has used them and what their experience has been.BC,
I agree. And Pac was not the only one to eliminate the 2x10. I find that some of the big ins co. have almost the same offerings that you sort of have to compare each time you buy a new annuity, as the riders keep changing. If you think about it, everyone operates with the same mortality risks, so most of the differences have to do with nuiances. And some products are better than others in certain circumstances (income today versus income later, how much income you need, your age, etc.). My practice is only about 10% annuity and insurance, so I am not going to break my neck looking for the latest and greatest. I just review the offerings of each when I have a new case.Just to clarify - Jones is only adding the insurance offerings from Pac Life and John H. We’ve had the JH annuities for a while. I was hoping they’d add Pac Life annuities at the same time, but we’ll just have to wait for that one. Maybe in May when they update everything else they’ll add those too.
[quote=gettingstarted] Do most of you guys focus on investments and do a little insurance if they ask or is it a priority with all clients - ie Life, DI, LTC
[/quote]
I think this will vary from advisor to advisor. About 17% of my production is from annuities and insurance, which is higher than average
at EDJ. I focus on investments, but I try to dig deeper with all of my
clients to let them know I can provide them with their life, disability,
and ltc solutions.
Nope. If we ever bring in JH mutual funds they're going to look like Hartford. Annuity guy, fund guy, big case life guy, small case life guy, retirement plan guy. The only benefit I get from having that many wholesalers is more free lunch.Either of you guys met with the Saybrus rep yet?
Nope. If we ever bring in JH mutual funds they're going to look like Hartford. Annuity guy, fund guy, big case life guy, small case life guy, retirement plan guy. The only benefit I get from having that many wholesalers is more free lunch. [/quote] What if one of those guys that takes you to lunch happens to be gay?[quote=LockEDJ]Either of you guys met with the Saybrus rep yet?
Nope. If we ever bring in JH mutual funds they're going to look like Hartford. Annuity guy, fund guy, big case life guy, small case life guy, retirement plan guy. The only benefit I get from having that many wholesalers is more free lunch. [/quote] What if one of those guys that takes you to lunch happens to be gay?[/quote] As long as he's not wearing a dress or trying to play footsie with me under the table, I'm OK with him being gay. The rest of us would like to leave that conversation behind us and move on. You should give that some serious thought too.[quote=Spaceman Spiff][quote=LockEDJ]Either of you guys met with the Saybrus rep yet?