Payout on annuities at merrill?

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Apr 15, 2009 11:02 pm

Can anyone out there tell me what the annuity products at Merrill pay to the grid?


Fixed as well as variable.

Thanks
Apr 15, 2009 11:19 pm

I am sure they are very high like most wirehouses...

Apr 16, 2009 8:51 pm

can anyone provide specifics?

Apr 16, 2009 8:54 pm

merrill is by far the lowest in the industry.  They pay 2.50ish to the grid....  mother merrill takes a huge cut

Apr 16, 2009 8:55 pm

I've heard 2.5% gross on most VAs

Apr 16, 2009 10:40 pm

2.5% that is unbelievable.  are those trail annuities that pay you after the 13th month?  in that is the grid for b share annuities that is pathetic

Apr 16, 2009 10:44 pm

When I was interviewing with Merrill, all they were after was how many Annuities I could potentially sell to clients. I signed with a different firm after hearing that.

Apr 16, 2009 10:56 pm

Hello Profit Center!

Apr 16, 2009 11:03 pm

At Merrill you get 4.5 upfront with a .25% trail in starting in month 13 on the seven year surrender.  You get 2.25% upfront with a .80% trail in month 13 on the three year surrender products.

Apr 17, 2009 7:07 am

  4.5 before payout nets next to nothing.  This is sanctioned theft.  Indy you choose how to get paid, IE 7.5% max with 50 bps trail after year 7.  200k at 87% INDY nets 13,050.. begs the question why work as an employee and give up that much in GDC, then only get 35-40% after that.

Apr 17, 2009 9:58 am

Stop focusing on payout.  Move on to prospecting or there will be no payout.

Apr 17, 2009 11:12 am
UntouchaBULL:

Stop focusing on payout.  Move on to prospecting or there will be no payout.

 
LOL when did you join Management?  
Apr 17, 2009 12:05 pm
Amp2Indy2006:
UntouchaBULL:

Stop focusing on payout.  Move on to prospecting or there will be no payout.

 
LOL when did you join Management?  
 
Yes, it is that evident.
Apr 19, 2009 10:25 am

The low payout forces ML reps to sell annuities for the right reasons, not just to get a big upfront commission. 

Apr 20, 2009 7:58 am

I think that you should watch yourself with the implied generalization. Scum bags exist in the industry plenty, and the name on the paycheck doesn't make you right per se, just makes you more arrogant.  And just like that curiosity for the cat, arrogance can kill the firm....and has.

 
I have 6 annuity sales in 4 years, and when appropriate I use them.  My point was that the wire firms keep more of the available GDC than they pay out, and virtually all other product manufacturing b/d's are the same.  I am merely showing the difference between ANY b/d and any INDY b/d.  There is not a middleman so the GDC goes to the one who takes on the risk and does the work, rather than the mother ship.