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Dec 7, 2010 11:14 pm

Nice,  if there is insurable interest, wonder if there was a way to set up coverage on the DI as part of your business transition plan. If you're both wirehouse employees,  I wonder if there is really insurable interest.

Dec 8, 2010 9:18 pm


Nice,  if there is insurable interest, wonder if there was a way to set up coverage on the DI as part of your business transition plan. If you're both wirehouse employees,  I wonder if there is really insurable interest.


Truthfully, i wasn't sure but was going to give it my best shot. I was paying her significanly more than my wire employer was paying her. Had she agreed, staying would have been contingent on insurable interest.

Big, thanks for the props!!!

Dec 10, 2010 4:29 pm


My SAs have access to all my numbers, including my commission runs. They know what i make. There are no secrets. It's always been that way.

A number of years ago I kept a promise to an SA that if he was successful as my SA then after two years i would do everything i could to get him into the training program. That two years went fast. He got into the program after i lobbied management and went on to become a very successful FA. This left me with an void, I needed a new assistant. As we went thru the process of hiring a few people who didn't work out  we hired a temp, Judy.

Judy would go on to become forever known as Judy the pyscho-bitch. There was something seriously wrong with Judy. She came to me and asked how i could be an FA with my horrible spelling. I responded that i could add and subtract like nobodies business and math is what counts. She was jealous of my suits, my  cars, my  bike, my wife, my kids, my house, my life style. She couldn't beleive that someone who is so obviously not very bright could make so much money. And, then as a temp, she started to demand some. This from a woman who sent letters out with white out, or misspellings,  couldn't be bothered to answer the phone, and was effing the FA in the next office during business hours. Added to this was her failure to file, as instructed, important compliance paperwork. Missing paperwork that got me called on the carpet. Singlehandedly in the course of three months this woman almost ruined my business. We fired Judy, and found the paperwork.  The moron in the next office said damn she was fun, why'd you have to fire her? My answer - your wife should know how much fun she was! That put us on the same page and on my say so the manager moved him to another part of the office.

One of the woman in the cage, a new employee, Kayla, agreed to a trial as my SA. It worked out great!!! Again, my business returned to the turnkey sales advisory practice it was designed to be. How good was she? The clients loved her. At Christmas the gifts would pour in for her. I asked clients, where's my gift? They responded; what did you do for us? Kayla worked with me for six years before going on to become the operations manager for the office. She took a pay cut to accept the position. I offered her an additional ten grand to stay with me. Her answer was something i could not have predicted: "If you fall off your motorcycle, where does that leave me and my family? With the bikes, the plane, the hang gliding, the boat racing,  you take way too many wild chances. I have to do what's best for my family long term." And so it went. I offered to buy life insurance on myself with her as beneficiary as there was insurable interest. She said she would agree if I guaranteed that any crash would kill me.  Gee, that's the same deal my wife has asked for!!  So, she left and i've gone through a series of assistants again. None were as good Kayla, and thankfully none as bad as Judy.

Tell me again, that i don't get it.

BTW, my wife and I are good friends with Kayla and her family. We vaca together and they're on the short list of people who can borrow Homer. I tried to get her husband to try hang gliding. My back side is still blistered from her email!! Speaking of emails, when I send her one I begin with "Still here." 


Jesus, that had to be rough BG.  I can relate to that situation you had with Judy...she reminds me of my ex-assistant at HSBC, she tried to sabotage my business because I was younger than her, making more money, and in a much higher position than her.

We got rid of her because she hated me and she was telling a few of my clients to go see another RM at a different branch...good riddance.