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Apr 10, 2008 6:44 pm

Since I finally found a legitimate reason to add fixed annuities to my overall practice in 2008 I decided to take a look where my revenues are coming from this year.

  Annuity Revenues- 19% New managed money- 33% Trails on managed money- 32% Money market trails-    4% mutual fund trails-  4% mutual fund new biz -   7% misc.  1%     The 19% on annuity revenues is about half of what the "average" advisor has at my firm.  Not sure if that's good, bad or indifferent.   scrim          
Apr 10, 2008 8:56 pm

I would say that it is good that your annuity biz is half of your peers.  Bank advisors have the reputation of throwing everyone into an annuity.  Your breakdown shows that you aren’t one of those guys.   

  You picked a tough time to add fixed annuities.  CD rates must be REALLY bad at your bank.
Apr 10, 2008 9:01 pm

CD rates are pretty much between 2-3%.

  I think that's in line with what other banks are paying.   scrim
Apr 10, 2008 9:07 pm

[quote=scrim67]CD rates are pretty much between 2-3%.

  I think that's in line with what other banks are paying.   scrim[/quote]   I have found some people whose CD's have matured or have money market funds to go into preferred stocks.  Not exactly fee-based, but it's better to get the assets on the books and deal with it later.  With QDI, net yields on the preferreds are 6.5%...not too shabby for this market.
Apr 11, 2008 3:10 am

I’m doing a lot of that, too, snaggletooth. I’m able to offer a preferred for the bank I work at that’s in the mid 7’s & we’re considered a safe haven. What we’ll do when rates go the other direction, I don’t know… Thus far I’ve only done it w/ people who own bonds or preferred’s elsewhere.