Why Are You Here?

I was initially attracted to this industry because I didn't know what else I possibly wanted to do that was involved a potentially high income, no graduate school involved (I was so burnt out on school), and involved working with people. 

I didn't want to work for Ruby Tuesday's for another summer while in college, so I got a job at an insurance company, got licensed, and sold life insurance to anyone who would give me the time of day.  It truly was awful, and I got my teeth kicked in (figuratively) more times than I can count.  But I learned so much about sales, myself, and about people in general. 

Sort of like pledging a fraternity:  It's the most fun you never want to have again.

After a year, I applied to one of the high end insurance company (there are only a handful, and they have all been named here), and was accepted into their intern program.  I did well there, and I worked there until my final semester.

Moved to the capital of the South, worked as a sales assistant in a firm where all the assistants (really almost like junior brokers but handled papaerwork also) except for one was male.  It was the most fun job I ever had, and I worked for a team of brokers w/over 250MM AUM. 

Did that for a couple years, worked as a broker for a very short period, then for personal reasons left Atlanta, relocated back to my home city, and went to work at ML as an FA.  POA was a b*tch, but I met my hurdles up until I got a recruiting call from a large community bank for an a offer too good to pass up.

And ladies and gentleman (and KWS), here I am 2 years later.

As I said, he drifted to the career.



What was too good to turn down, other than the lure of not having to prospect–which as it turns out is often a false promise.

I like people, they like me.

I like helping people.

I love finance and I have dedicated my education and work experience to this field.

This career can support my families lifestyle.

I want to own my own business and be paid for how hard I work.

This job carries a ton of responsibility with it.  Good people must take that responsibility on.

How many families do you have?

What do you mean when you say, “I like helping people?”  Have you
spent your life helping people, and therefore know you like it?



How much do you like it?  More than a tub of hot popcorn at the movies, but less than a trip to the dentist?

[quote=Knows Wall St.]What do you mean when you say, "I like helping people?"  Have you spent your life helping people, and therefore know you like it?

How much do you like it?  More than a tub of hot popcorn at the movies, but less than a trip to the dentist?
[/quote]

Dude, get a life!!!

Wow - the person with the name, 'Knows Wall St.', really does know wall street.  In fact - they should have named themself, 'Knows Everything, on and off Wall St.'.

Does anyone know why NASD Newbie was, 'discarded' from this forum?

[quote=Knows Wall St.]As I said, he drifted to the career.

What was too good to turn down, other than the lure of not having to prospect--which as it turns out is often a false promise.
[/quote]

LOL, if you mean I didn't come out of the womb thinking I wanted to be a financial advisor, then yes, I drifted to this career.

Choosing a direction by age 20, and staying in the industry is hardly "drifting."  You truly are a moron, and you illustrate it daily to mine and other's amusement.

I have detailed me terms of my employment in detail in the past...as much as you troll this forum, I'm sure you could locate it.

[quote=Knows Wall St.]As I said, he drifted to the career.

[/quote]

As opposed to Putzy, who was attracted by the same things, but failed at it and had to settle for a lower paying management slot....

Even though I am now in the insurance side of the biz, I was and am attracted to this work because it involves a lot of problem solving and 'macroscopic' thinking.  It's hard to get bored uncovering problems, generating solutions and persuading others to take action on those ideas.

Also, it was rewarding to be in a career that generates some respect from others.  There is a sort of 'cache' that comes with being an advisor.

Why else?  Hmmmmm..........it is a good feeling when you make money for your clients or help remove some of their stress concerning financial matters.  When I hear "thank you" from a client, it feels very good indeed.

This business generally attracts either very smart people, or those who have some outstanding traits (relative to many other careers) which makes them interesting to interact with and learn from. 

'Intangibles' sales provide a unique challenge to sell concepts, which is a very intellectually stimulating process for me.

I get free lunches several times a week for just showing up and letting some wholesaler sing and dance for me (I'm usually embarassed for them).  I figure this is an additional $1000 plus in benefit.  I also get to eat pretty swanky frequently.

“I figure this is an additional $1000 plus in annual benefit”

I ignore the jerks here.  Actually, it seems like just one who keeps getting booted and then picks a new name.

How lonely is this guy?  He comes back to a place where people despise him and where the moderators trash him.

He likes abuse. 

Best thing is that jerks like Putsy/NASD/Maven are OUT of this business never to return.

I was looking for a career that had the following characteristics:

1)Opportunity to make a lot of money
2)Make a positive difference in the lives of others
3)Get paid to produce as opposed to putting in time
4)No boss
5)Ability to go to child's baseball game Tuesday at 3:00 without having to ask permission

[quote=anonymous]

I was looking for a career that had the following characteristics:

1)Opportunity to make a lot of money
2)Make a positive difference in the lives of others
3)Get paid to produce as opposed to putting in time
4)No boss
5)Ability to go to child's baseball game Tuesday at 3:00 without having to ask permission

In June of this year, I paid a $2,000,000 death claim to a woman with 3 children under the age of 4.   She's a stay at home mom.  Her husband was an attorney.  The policy was in force for less than 3 months.  They had no coverage except a small group policy through his employer before he met me.

He didn't want to meet with me because he handled his own investments and "Life insurance is a waste of money.  I'm just going to invest the money instead."  Fortunately, I've been around long enough to ignore the B.S.

I'm the best thing that ever happened to that family.   I don't think that she cares if the Roth IRAs that they also bought outperform the S&P 500.

I’m here for the large commissions, so I can buy a lot of things with the money.

[quote=anonymous]

In June of this year, I paid a $2,000,000 death claim to a woman with 3 children under the age of 4. She’s a stay at home mom. Her husband was an attorney. The policy was in force for less than 3 months. They had no coverage except a small group policy through his employer before he met me.

He didn’t want to meet with me because he handled his own investments and “Life insurance is a waste of money. I’m just going to invest the money instead.” Fortunately, I’ve been around long enough to ignore the B.S.

I’m the best thing that ever happened to that family. I don’t think that she cares if the Roth IRAs that they also bought outperform the S&P 500.

[quote=Knows Wall St.]What was too good to turn down, other than the lure of not having to prospect[/quote]

And just how much prospecting does a compliance manager at a wirehouse do? 

Selling insurance is filling out applications.  Clients come into the meeting knowing they need to buy insurance so the agent does little more than put little sticker things next to where signatures are to go on the paperwork.

When they die and their heirs receive the death benefit it is because the deceased bought the policy and the salesman got the little stickers in the right places.

Nothing less, very little more.

Sales people are one of the highest payed professions according to the authors of the millionaire next door, there job involves more than pushing paper. That is a managers job, let’s see how many reports I can make with this excell thing. Oh neat, 20 different graphs this will impress people. Did I just sum up your job?

If you remove all the salesman, the economy dries up. If you remove all the old men with dogs, noone notices.

[quote=anonymous]

In June of this year, I paid a $2,000,000 death claim to a woman with 3 children under the age of 4.   She's a stay at home mom.  Her husband was an attorney.  The policy was in force for less than 3 months.  They had no coverage except a small group policy through his employer before he met me.

He didn't want to meet with me because he handled his own investments and "Life insurance is a waste of money.  I'm just going to invest the money instead."  Fortunately, I've been around long enough to ignore the B.S.

I'm the best thing that ever happened to that family.   I don't think that she cares if the Roth IRAs that they also bought outperform the S&P 500.

[/quote]

Outstanding.  Excellent.  We can all aspire to take care of people the way you did.  Wonderful.  Best wishes for much continued success.

[quote=vbrainy][quote=anonymous]

In June of this year, I paid a $2,000,000 death claim to a woman with 3 children under the age of 4.   She's a stay at home mom.  Her husband was an attorney.  The policy was in force for less than 3 months.  They had no coverage except a small group policy through his employer before he met me.

He didn't want to meet with me because he handled his own investments and "Life insurance is a waste of money.  I'm just going to invest the money instead."  Fortunately, I've been around long enough to ignore the B.S.

I'm the best thing that ever happened to that family.   I don't think that she cares if the Roth IRAs that they also bought outperform the S&P 500.

[/quote]

Outstanding.  Excellent.  We can all aspire to take care of people the way you did.  Wonderful.  Best wishes for much continued success.

[/quote]

Sooooo....we only take care of people when someone dies?

[quote=Helter Skelter]I'm here for the large commissions, so I can buy a lot of things with the money. [/quote]

You won't last.  If you can look yourself in the mirror after ripping people off with "large commissions" you will be a lonely person.

Most of your early clients are your family and friends.  You have to go to Christmas parties for the rest of your life.  Can you face these people after ripping them off.  Do you think they will not find out that you overcharged them?

Getting rich at the expense of others?  Without providing them with value?  Good luck.  Most of us would hate ourselves for doing that.

Oh yeah, but we have a conscience.

A sign of functional illiteracy is the inabilty to recognize when tongues are firmly inserted in cheeks.



A second sign is using those little icon things because you’re not
smart enough to realize that humor is best when it’s dry, mature, and
unexpected.

[quote=vbrainy]

[quote=Helter Skelter]I'm here for the large commissions, so I can buy a lot of things with the money. [/quote]

You won't last.  If you can look yourself in the mirror after ripping people off with "large commissions" you will be a lonely person.

Most of your early clients are your family and friends.  You have to go to Christmas parties for the rest of your life.  Can you face these people after ripping them off.  Do you think they will not find out that you overcharged them?

Getting rich at the expense of others?  Without providing them with value?  Good luck.  Most of us would hate ourselves for doing that.

Oh yeah, but we have a conscience.

[/quote]

It's too late...I've already lasted. Everybody who gets rich does so at the expense of others. Where do you think the money comes from?

"Selling insurance is filling out applications.  Clients come into the meeting knowing they need to buy insurance so the agent does little more than put little sticker things next to where signatures are to go on the paperwork."

You're a fool if you believe that.  What you said may very well be true for items like car and homeowner's insurance.  Adequate amounts of life and disability insurance are definitely items that are sold and not bought.   If these were items that were bought, there would be no reason for the insurance companies to have to pay the large commissions that they do. 

In the case of my dead client, he had no interest in life insurance and refused to talk about it in our first couple of meetings.  There was one hell of a lot of arm twisting to get him to buy the coverage. 

I can always get people to invest.  This is easy.  Investing is just moving money from one pocket to another.  Insurance is sold. 

[quote=Knows Wall St.]A second sign is using those little icon things because you're not smart enough to realize that humor is best when it's dry, mature, and unexpected.
[/quote]

Says the guy who finds humor in dressing up a dog...

[quote=Helter Skelter][quote=vbrainy]

[quote=Helter Skelter]I'm here for the large commissions, so I can buy a lot of things with the money. [/quote]

You won't last.  If you can look yourself in the mirror after ripping people off with "large commissions" you will be a lonely person.

Most of your early clients are your family and friends.  You have to go to Christmas parties for the rest of your life.  Can you face these people after ripping them off.  Do you think they will not find out that you overcharged them?

Getting rich at the expense of others?  Without providing them with value?  Good luck.  Most of us would hate ourselves for doing that.

Oh yeah, but we have a conscience.

[/quote]

It's too late...I've already lasted. Everybody who gets rich does so at the expense of others. Where do you think the money comes from?

[/quote]

Well, goody for you.

When you get to the gates of hell, tell Ken Lay hi.

[quote=vbrainy][quote=Helter Skelter][quote=vbrainy]

[quote=Helter Skelter]I'm here for the large commissions, so I can buy a lot of things with the money. [/quote]

You won't last.  If you can look yourself in the mirror after ripping people off with "large commissions" you will be a lonely person.

Most of your early clients are your family and friends.  You have to go to Christmas parties for the rest of your life.  Can you face these people after ripping them off.  Do you think they will not find out that you overcharged them?

Getting rich at the expense of others?  Without providing them with value?  Good luck.  Most of us would hate ourselves for doing that.

Oh yeah, but we have a conscience.

[/quote]

It's too late...I've already lasted. Everybody who gets rich does so at the expense of others. Where do you think the money comes from?

[/quote]

Well, goody for you.

When you get to the gates of hell, tell Ken Lay hi.

[/quote]

At least he's honest.  I'm here for the money too, in addition to all the other aspects of this work.  Having read Helter Skelter/knucklehead/Dirk Diggler's posts for quite awhile I get the impression that he is candid and upfront with his clients and seeks out clients that fit his product.  So what if annuities pay large commissions?  So what if he likes that fact?  Is making a nice profit (as long as the business is ethical) a bad thing?

Let me guess vbrainy, you're here for philanthropic reasons right?  I bet if you were to elucidate your intentions for getting into this business, making a lot of money would be dead last right (rolls eyes)?

Pull the plank out of your eye vbrainy.  Save the fire and brimstone for church..................where it belongs.  Learn to appreciate honesty (especially when executed in a slightly humorous tounge in cheek manner). 

You don't have to agree with his business model or investment philosophy but save the "damned to Hell" Bullsh*t for the sheep farm.

[quote=vbrainy]

[quote=Helter Skelter]I'm here for the large commissions, so I can buy a lot of things with the money. [/quote]

You won't last.  If you can look yourself in the mirror after ripping people off with "large commissions" you will be a lonely person.

Most of your early clients are your family and friends.  You have to go to Christmas parties for the rest of your life.  Can you face these people after ripping them off.  Do you think they will not find out that you overcharged them?

Getting rich at the expense of others?  Without providing them with value?  Good luck.  Most of us would hate ourselves for doing that.

Oh yeah, but we have a conscience.

[/quote]

How in the **** did large commissions get translated to "ripping people off"?

If you do not accept that brokers that out perform and are better than you are motivated by the things money can buy then you're going to have a long and bitter life ahead of you. Stop assuming his methods of business are immoral!

Large commissions come from large tickets. People who write small tickets don't relate to that.

There is nothing wrong with making money, as long as you do it honestly.

So, did you sell the annuity with the big comission because it best fit your client?  Or did you sell it to make the most money for yourself?

Was there no other product that would have better fit your client?

Do you choose one annuity over another just because the comission is higher?

Go ahead and try to fool yourself.  If you think you can rip people off with no consequences, take a hard look at the Kennedy family.

[quote=vbrainy]

There is nothing wrong with making money, as long as you do it honestly.

So, did you sell the annuity with the big comission because it best fit your client?  Or did you sell it to make the most money for yourself?

Was there no other product that would have better fit your client?

Do you choose one annuity over another just because the comission is higher?

Go ahead and try to fool yourself.  If you think you can rip people off with no consequences, take a hard look at the Kennedy family.

[/quote]

I find people who fit my product...something you'll never have the guts to do.

[quote=Helter Skelter][quote=vbrainy]

There is nothing wrong with making money, as long as you do it honestly.

So, did you sell the annuity with the big comission because it best fit your client?  Or did you sell it to make the most money for yourself?

Was there no other product that would have better fit your client?

Do you choose one annuity over another just because the comission is higher?

Go ahead and try to fool yourself.  If you think you can rip people off with no consequences, take a hard look at the Kennedy family.

[/quote]

I find people who fit my product...something you'll never have the guts to do.

[/quote]

Aren't you the numnuts who didn't even know what "fee based business" was.  Go wipe your nose.  And call your two clients.

[quote=vbrainy][quote=Helter Skelter][quote=vbrainy]

There is nothing wrong with making money, as long as you do it honestly.

So, did you sell the annuity with the big comission because it best fit your client?  Or did you sell it to make the most money for yourself?

Was there no other product that would have better fit your client?

Do you choose one annuity over another just because the comission is higher?

Go ahead and try to fool yourself.  If you think you can rip people off with no consequences, take a hard look at the Kennedy family.

[/quote]

I find people who fit my product...something you'll never have the guts to do.

[/quote]

Aren't you the numnuts who didn't even know what "fee based business" was.  Go wipe your nose.  And call your two clients.

[/quote]

Nope. I'm the guy who thinks that the term "fee-based" sounds illogical and that people who use the term are stupid. Asset-based fees sounds logical. You spelled "numbnuts" wrong, young lady.

 . . .oh did you just have to go down to your car and check the spelling of 'NUMBNUTS" because someone had carved it into the paint with their key.

Leave it there.  Celebrate your worthlessness.

You have nothing else to celebrate.

[quote=vbrainy]

 Go ahead and try to fool yourself.  If you think you can rip people off with no consequences, take a hard look at the Kennedy family.

[/quote] ?

I am here to pick up the pieces in the event my husband dies young or falls ill, as well as to make my own book.   I am the families insurance policy

How many famillies are you the insurance policy for?

Mine only.   My husbands success dictated I follow him into the business.  Otherwise how would we protect his assets if he becomes unable to continue?

I am doing it for the money.  I am good at finding companies that pay the highest in commission.  I'd feel bad if I mistakenly illustrated a product incorrectly.  Other than that, I'm doing it for the money...and I happen to help alot of people while doing so.

That's why most people do what they do.  Example:  doctors & lawyers

[quote=F.B.]Mine only.   My husbands success dictated I follow him into the business.  Otherwise how would we protect his assets if he becomes unable to continue?[/quote]

How many husbands do you have?

There are people who run car dealerships selling high end mercedez, ferrari,

etc… Do you think they should close shop because they feel that these rich

folks should be driving Saturns or Buicks instead? You are a businessman

aren’t you?

[quote=Soon 2 B Gone]

How many husbands do you have?

If you're not money motivated you're in the wrong business. As for selling annuities, if you work for a company that sells annuities and only annuities, well then, that's your job. Make as much money as you can at it.

If a young couple walks into a BMW dealer and it becomes evident fairly early in the process that they are really stretching themselves financially to buy the car, it's not the car dealer's place to lecture them on money management and tell them they'd be a lot better off down at the KIA store. It's the BMW salesman's job to get that unit across the curb and off the dealer's lot. As long as the customer qualifies for financing that salesman has his marching orders. As for annuity salespeople, same thing, to a point. As long as there has been full disclosure, and the customer wants the product, it's their job to close the case. Why is this a problem?

[quote=BondGuy]

If you're not money motivated you're in the wrong business. As for selling annuities, if you work for a company that sells annuities and only annuities, well then, that's your job. Make as much money as you can at it.

If a young couple walks into a BMW dealer and it becomes evident fairly early in the process that they are really stretching themselves financially to buy the car, it's not the car dealer's place to lecture them on money management and tell them they'd be a lot better off down at the KIA store. It's the BMW salesman's job to get that unit across the curb and off the dealer's lot. As long as the customer qualifies for financing that salesman has his marching orders. As for annuity salespeople, same thing, to a point. As long as there has been full disclosure, and the customer wants the product, it's their job to close the case. Why is this a problem?