Why stay at BOA any longer?

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Dec 16, 2007 5:29 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 2:58 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 10:11 am

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 12:21 pm

Thanks for the info!!

Dec 26, 2007 4:58 pm
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.
 
I assume you are with LaSalle, if you are, I hope we start offering the brokered CDs again.  great way to raise AUM