Jones annuity payout
I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.
Sounds low compared to what?I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.
Sounds low compared to what?[/quote] It's my understanding that VA sales at other firms carry a much larger gross commission. With that being said, get over the Jones vitriole. If you have so much a problem with it 52, quit.[quote=52new]I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.
If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.
Some firms payout 6%, some 4%, some 2% with a 1% trail.
[quote=52new]I sold a Lincoln Choice plus VA, 100,000 face. My gross was $2750, net $1100. Is that about what you folks get? The payout seems awful low to me.[/quote]
Unless you want to pay your own light bill and lease and phones, and assistant, and everything else, that sounds about right. In fact, if my calculations are correct, it looks like you’re on a 40% payout. Actually sounds pretty solid.
My only question is the 275 bps commish. I recently sold a Lincoln Choice VA and it paid 5%. Was the client over 80??? But when all is said and done, it sounds about right.
He sold an A share annuity that charges the client 3.5% upfront at the $100K breakpoint with a 2.75% dealer concession and a 25bps trail starting at the 13th month. If he put i4Life on it the trail goes up to 50bps. He netted 40% of that.
52 - in answer to your question - you got paid exactly what the prospectus stipulates. It would suprise me to hear that a non Jones FA does A share annuities, so you may not get an apples to apples comparison. Had you done a B share you would have been paid more. 4.75% + a 25 bps trail in month 13 through the 7th year and then a 1% trail years 8 & up. Of course the client would be paying more in expenses, but you'd have been paid better. And yes, other firms get paid better than we do on annuity tickets. Something to look forward to when you leave us. We'll miss you.[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]
Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs.
I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.
[quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]
You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on.
[quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]
You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]
I don’t need to know where you came from to know you are a piker, piker. I doubt anyone selling skin cream in the mall made 6 figures, liar.
I believe EDJ is the only firm that offers A Share annuitiesWTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client).
Is this an EDJ thing?
Actually, he's been the most successful person at everything that he's ever done for the past 50 years. I just can't figure with all of his success how/why he would have to start in a brand new industry from ground zero. I'm assuming that he is now the top Jones producer in the country. (unless somewhere along the line he stopped being the best)[quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]
You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]
I don’t need to know where you came from to know you are a piker, piker. I doubt anyone selling skin cream in the mall made 6 figures, liar.
[quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]
You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]
Liar
[quote=iceco1d]WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client).
Is this an EDJ thing?
[/quote]
It means basicly nothing to the clients vs mutual funds… but it does play a key role in 2 things… Fees/Surrenders/Compensation.
A share annuity Pays about 5 to 6% to the firm/indy producer. 7 year surrender typically, lowest M&E expense.
B Share annuity, which is typically a Bonus annuity. 7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%. higher M&E expense to make up for the bonus.
C Share annuity, very rare. typically a 1 to 3 year annuity, with small or no surrender charges. Highest M&E fees.
L Share annuity is an inbetween hybrid. very popular at wirehouses. 3 to 5 year surrenders with comp just shy of 5% on some. I think lincoln paid 5.75%
[quote=B24] [quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]
You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]
Liar[/quote]
F-ck you and your koolade drinking bed pal. But keep answering my posts. I love insulting losers.
[quote=iceco1d] WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). Is this an EDJ thing?
[/quote]
you are the biggest piker on this board. you and your multiple screennames. shut up icehole.
You're still a liar.[quote=B24] [quote=52new] [quote=SometimesNowhere]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]Know your RR forum characters, @$$hole. Just like when you said it about Moraen, you’ve got the wrong guy. I am far from a kool-aid drinker, I am frequently critical of my firm. However I, unlike you, will leave if/when I find a better opportunity that meets my needs. I am a piker hater, though, and you are a piker. Go back to your cozy $34k a year salary selling washing machines or managing your mall kiosk or whatever it was that you did before and quit embarrassing our profession.[/quote]
You are welcome to kiss my ass anytime, provided you give me half an hour to draw a crowd. The industry I came from is none of your business. But I still make six figures from it and I don’t care to waste my time talking to useless pos’s like you. If you don’t like my post, then move on. [/quote]
Liar[/quote]
F-ck you and your koolade drinking bed pal. But keep answering my posts. I love insulting losers.
[quote=aeromaks] [quote=iceco1d]WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client).
Is this an EDJ thing?
[/quote]
It means basicly nothing to the clients vs mutual funds.... but it does play a key role in 2 things... Fees/Surrenders/Compensation.
A share annuity Pays about 5 to 6% to the firm/indy producer. 7 year surrender typically, lowest M&E expense.
B Share annuity, which is typically a Bonus annuity. 7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%. higher M&E expense to make up for the bonus.
C Share annuity, very rare. typically a 1 to 3 year annuity, with small or no surrender charges. Highest M&E fees.
L Share annuity is an inbetween hybrid. very popular at wirehouses. 3 to 5 year surrenders with comp just shy of 5% on some. I think lincoln paid 5.75%
[/quote] You're pretty close with the A & B share annuity thing. At Jones, there is no surrender schedule with an A share. It is by far the cheapest way to put big money into an annuity. The lower M&E will save a ton of money over the client's lifetime. Payout to the advisor is almost identical to an A share mutual fund with the exception of the $1MM breakpoint where the commission is still 1%. As for the B share, we don't do bonus annuities at Jones. We do a traditional annuity contract. 7 year surrender with a 1.25ish M&E. Commission is 4.75 or 5%. Payout is 40% under $100K and 35% or less over $100K. The reasoning for the drop in payout is that Jones believes the A share pricing structure is better for more than $100K. We've only got one provider, well two if you count SunAmerica, with a C share and I've never used it. It think it works just like a C share fund. 1% commission with a little bit higher M&E than a B share and it pays a higher trail. No CDSC fee if I remember right. I don't know that I've ever talked with another FA who has sold a C share annuity. We don't have the L share. I wish we did. I'd like to have something between the A & B surrender schedule.[quote=Spaceman Spiff][quote=aeromaks] [quote=iceco1d]WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client).
Is this an EDJ thing?
[/quote]
It means basicly nothing to the clients vs mutual funds.... but it does play a key role in 2 things... Fees/Surrenders/Compensation.
A share annuity Pays about 5 to 6% to the firm/indy producer. 7 year surrender typically, lowest M&E expense.
B Share annuity, which is typically a Bonus annuity. 7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%. higher M&E expense to make up for the bonus.
C Share annuity, very rare. typically a 1 to 3 year annuity, with small or no surrender charges. Highest M&E fees.
L Share annuity is an inbetween hybrid. very popular at wirehouses. 3 to 5 year surrenders with comp just shy of 5% on some. I think lincoln paid 5.75%
[/quote] You're pretty close with the A & B share annuity thing. At Jones, there is no surrender schedule with an A share. It is by far the cheapest way to put big money into an annuity. The lower M&E will save a ton of money over the client's lifetime. Payout to the advisor is almost identical to an A share mutual fund with the exception of the $1MM breakpoint where the commission is still 1%. As for the B share, we don't do bonus annuities at Jones. We do a traditional annuity contract. 7 year surrender with a 1.25ish M&E. Commission is 4.75 or 5%. Payout is 40% under $100K and 35% or less over $100K. The reasoning for the drop in payout is that Jones believes the A share pricing structure is better for more than $100K. We've only got one provider, well two if you count SunAmerica, with a C share and I've never used it. It think it works just like a C share fund. 1% commission with a little bit higher M&E than a B share and it pays a higher trail. No CDSC fee if I remember right. I don't know that I've ever talked with another FA who has sold a C share annuity. We don't have the L share. I wish we did. I'd like to have something between the A & B surrender schedule. [/quote] Couple of observations: B share is not the same as a bonus product. I don't do bonus products but do use B share products. The cheapest way to put money into a VA may not be the best way. The cheapest way would not be to start out 3.5% in the hole. For example Prudential has a B share product that reduces the M & E from 1.25% to .65% after 7 years. My assumption would be that these days many contracts would be written with living benefit riders which increase the costs inside the contract. If you are looking at cost there is a cost for that and not putting it on a contract would be cheaper, but would it be better?? I would have to say having a limited amount of providers may be easier on the FA but it seems to have a chilling effect on the consumer. The more choices you have the more competitive and better job that you can do for your client. I don't use L or C shares with my clients but could if I chose to.[quote=Spaceman Spiff] [quote=aeromaks] [quote=iceco1d]WTF are these “A” and “B” share annuities? And a front end load going in? I have no clue what’s going on here. I’ve only ever heard of an “L” share; aside from that, I basically see different “Series” of annuities from different companies, all with like 3 - 5 payout options (but with no implication on fees/surrender period/etc. to the client). Is this an EDJ thing?
[/quote]
It means basicly nothing to the clients vs mutual funds… but it does play a key role in 2 things… Fees/Surrenders/Compensation.
A share annuity Pays about 5 to 6% to the firm/indy producer. 7 year surrender typically, lowest M&E expense.
B Share annuity, which is typically a Bonus annuity. 7 to 10 year surrender. pays a bonus to the client, typically up to 5%, Prudential paid 7%. higher M&E expense to make up for the bonus.
C Share annuity, very rare. typically a 1 to 3 year annuity, with small or no surrender charges. Highest M&E fees.
L Share annuity is an inbetween hybrid. very popular at wirehouses. 3 to 5 year surrenders with comp just shy of 5% on some. I think lincoln paid 5.75%
[/quote]You’re pretty close with the A & B share annuity thing. At Jones, there is no surrender schedule with an A share. It is by far the cheapest way to put big money into an annuity. The lower M&E will save a ton of money over the client’s lifetime. Payout to the advisor is almost identical to an A share mutual fund with the exception of the $1MM breakpoint where the commission is still 1%.
As for the B share, we don’t do bonus annuities at Jones. We do a traditional annuity contract. 7 year surrender with a 1.25ish M&E. Commission is 4.75 or 5%. Payout is 40% under $100K and 35% or less over $100K. The reasoning for the drop in payout is that Jones believes the A share pricing structure is better for more than $100K.
We’ve only got one provider, well two if you count SunAmerica, with a C share and I’ve never used it. It think it works just like a C share fund. 1% commission with a little bit higher M&E than a B share and it pays a higher trail. No CDSC fee if I remember right. I don’t know that I’ve ever talked with another FA who has sold a C share annuity.
We don’t have the L share. I wish we did. I’d like to have something between the A & B surrender schedule. [/quote]
Wrong dummy. Pull a hypo on a protective B share VA with a 10 year look back at 200k. Tell me which performs better.
You are as dumb as a box of rocks.
You're correct on the Protective B share, but only because they have that loyalty credit in year 8. That's the only B share annuity that I'll use. And it's only good up to the $250K breakpoint.
Wrong dummy. Pull a hypo on a protective B share VA with a 10 year look back at 200k. Tell me which performs better.
You are as dumb as a box of rocks.
You're correct on the Protective B share, but only because they have that loyalty credit in year 8. That's the only B share annuity that I'll use. And it's only good up to the $250K breakpoint. [/quote] I know I'm right. I know you talk out of your arse. You pass along your stupid opinions as though they are fact. You are a bigoted fool.[quote=hotair1]
Wrong dummy. Pull a hypo on a protective B share VA with a 10 year look back at 200k. Tell me which performs better.
You are as dumb as a box of rocks.
I agree with you, so I’m a bigoted fool?
ALL of us pass along our stupid opinions as though they are fact around here. I'm assuming the bigoted fool has to do with my comments on the volt thread. My comments there certainly did strike a nerve or two. Am I safe to assume that you are not in agreement with me? That wouldn't suprise me. Most of our society isn't.[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]
worked for Jones for 2 years and he just realized he has a sh*t payout…
this is comedy.
[quote=Still@jones]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]worked for Jones for 2 years and he just realized he has a sh*t payout…this is comedy.[/quote]
I worked there 15 weeks and failed. I love the dead though.
[quote=fired@jones] [quote=Still@jones]
[quote=52new]If you koolade drinkers don’t like my comments, ignore them. I say what I please. I would like to know what other firms payout is for Variable Annuities. If you don’t know then wait for a reply.[/quote]worked for Jones for 2 years and he just realized he has a sh*t payout…this is comedy.[/quote]
I worked there 15 weeks and failed. I love the dead though.[/quote]
Me too…except I lasted 19 weeks.
What a crap company, huh?
Jones is the only company in the industry with differing payouts for different products? I find that amazing.
Jones has a philosophy. They back it up with payouts. If you don't like it or don't agree with it, you can leave. It's really pretty simple.It just bothers me that when I know I am doing the right thing, I actually get penalized with the payout. For example, I've got some clients in short-duration muni funds for savings. Not only is the pay from the fund company lower (understandably), but then Jones cuts my pay even further. Should I have put them in an A-share? I think not. This is where the policy falls short. At least now with Advisory, the issue is somewhat resolved. But there are many situations where neither A shares nor Advisory Solutions would be appropriate.
[quote=B24]
It just bothers me that when I know I am doing the right thing, I actually get penalized with the payout. For example, I've got some clients in short-duration muni funds for savings. Not only is the pay from the fund company lower (understandably), but then Jones cuts my pay even further. Should I have put them in an A-share? I think not. This is where the policy falls short. At least now with Advisory, the issue is somewhat resolved. But there are many situations where neither A shares nor Advisory Solutions would be appropriate.
[/quote] It's just a matter of time before you move B24.....[quote=noggin][quote=B24]
It just bothers me that when I know I am doing the right thing, I actually get penalized with the payout. For example, I've got some clients in short-duration muni funds for savings. Not only is the pay from the fund company lower (understandably), but then Jones cuts my pay even further. Should I have put them in an A-share? I think not. This is where the policy falls short. At least now with Advisory, the issue is somewhat resolved. But there are many situations where neither A shares nor Advisory Solutions would be appropriate.
[/quote] It's just a matter of time before you move B24.....[/quote]I think it might be one of the most highly anticipated things to happen on this forum.
[quote=Moraen] [quote=noggin][quote=B24]
It just bothers me that when I know I am doing the right thing, I actually get penalized with the payout. For example, I've got some clients in short-duration muni funds for savings. Not only is the pay from the fund company lower (understandably), but then Jones cuts my pay even further. Should I have put them in an A-share? I think not. This is where the policy falls short. At least now with Advisory, the issue is somewhat resolved. But there are many situations where neither A shares nor Advisory Solutions would be appropriate.
[/quote] It's just a matter of time before you move B24.....[/quote]I think it might be one of the most highly anticipated things to happen on this forum.
[/quote] As much as the final episode of Beavis and Butthead.
I was thinking more like the final episode of Seinfeld…
Do you mean his move will be a big let down?
[quote=Wet_Blanket]
Do you mean his move will be a big let down?
[/quote]Beat me to it.
[quote=Wet_Blanket]
Do you mean his move will be a big let down?
[/quote] I'm going to Primerica.Do you mean his move will be a big let down?
[/quote] I'm going to Primerica.[/quote] Talk about achieving the pinnacle of comedy. Perfection![quote=B24][quote=Wet_Blanket]
Do you mean his move will be a big let down?
[/quote] I'm going to Primerica.[/quote]Major points....
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