Oh yeah since I have answered your questions why 't you answer mine about the living benefit, there was a nice article written by Nick Murray that happened to agree with me that I just read

[quote=bankrep1]I didn't say straddles I said buy calls with the interest again and again and again. You cannot lose money my strategy. It is exactly the same thing the insurance company does.

As far as the VA goes that depends on if you do an A share, B share, C share etc. It also depends on the performance of the investment you selected. If you might touch the money within a year or two, I would put you in a C share annuity (No CDSC), does that answer your question.[/quote]

How about pentalties coming out after only 17 months?  Will I get 100% of my money back after only 17 months?

What if I don't know if I'll need my money.  I might, but I don't know.  Is an annuity a good place to put it?

Why don't you have your client's buying CDs and using the interest to buy calls on a big index--say the OEX?

That's an easy two step dance--why put them into something that has a lot of moving parts like an annuity?

[quote=bankrep1]Oh yeah since I have answered your questions why 't you answer mine about the living benefit, there was a nice article written by Nick Murray that happened to agree with me that I just read[/quote]

Ah, Nick Murray--give him a few bucks and he'll show up anywhere and say anything.

In an entertaining way.

Not that there's anything wrong with that.

[quote=NASD Newbie]

[quote=bankrep1]I didn't say straddles I said buy calls with the interest again and again and again. You cannot lose money my strategy. It is exactly the same thing the insurance company does.

As far as the VA goes that depends on if you do an A share, B share, C share etc. It also depends on the performance of the investment you selected. If you might touch the money within a year or two, I would put you in a C share annuity (No CDSC), does that answer your question.[/quote]

How about pentalties coming out after only 17 months?  Will I get 100% of my money back after only 17 months?

C share annuity = no CDSC = no early withdrawal penalty.  Whether you will get 100% of your money back depends on the sub accounts you have invested in.  There is no way I would suggest a VA annuity to someone who has not made the commitment to leave the investment in for longer than 17 months.  In fact I wouldn't suggest you invest in a mutual fund either. 

What if I don't know if I'll need my money.  I might, but I don't know.  Is an annuity a good place to put it?

If you are so unsure as to if you are going to need your money and this risk adverse I would suggest you do not invest and put your money in a CD.....or better yet a Folgers coffee can in the back yard. That way you can go and play with your money any time you want to.

Why don't you have your client's buying CDs and using the interest to buy calls on a big index--say the OEX?

Interest on CDs is paid at maturity.  Do you want to have the clients wait a year or more to do this strategy?  Maybe they should just be in a Money Market account at the Bank. What kind of returns do we get on those deposits.  Seriously.  I haven't checked the bank rates in a few weeks.

That's an easy two step dance--why put them into something that has a lot of moving parts like an annuity?

EIAs no, but for a portion of a client's LONG TERM investments I don't think that a VA is always inappropriate.  If the client is sophisticated enough to understand puts and calls then this would be a viable strategy.  

 [/quote]

How about pentalties coming out after only 17 months? Will I get 100% of my money back after only 17 months?



Your in such a hurry, I said 0 penalties in a C share annuity



What if I don’t know if I’ll need my money. I might, but I don’t know. Is an annuity a good place to put it?



Maybe, maybe not



Why don’t you have your client’s buying CDs and using the interest to buy calls on a big index–say the OEX?



Because I know they will have better returns with mutual funds even inside a VA if they want a guarantee



That’s an easy two step dance–why put them into something that has a lot of moving parts like an annuity?

Just because you don’t understand it, doesn’t mean it’s complicated. I could explain a VA in 5 minutes if someone already understands how mutual funds work.

[quote=babbling looney] [quote=NASD Newbie]

[quote=bankrep1]I didn’t say straddles I said buy calls with the interest again and again and again. You cannot lose money my strategy. It is exactly the same thing the insurance company does. As far as the VA goes that depends on if you do an A share, B share, C share etc. It also depends on the performance of the investment you selected. If you might touch the money within a year or two, I would put you in a C share annuity (No CDSC), does that answer your question.[/quote]

How about pentalties coming out after only 17 months? Will I get 100% of my money back after only 17 months?

C share annuity = no CDSC = no early withdrawal penalty. Whether you will get 100% of your money back depends on the sub accounts you have invested in. There is no way I would suggest a VA annuity to someone who has not made the commitment to leave the investment in for longer than 17 months. In fact I wouldn’t suggest you invest in a mutual fund either.

What if I don’t know if I’ll need my money. I might, but I don’t know. Is an annuity a good place to put it?

If you are so unsure as to if you are going to need your money and this risk adverse I would suggest you do not invest and put your money in a CD…or better yet a Folgers coffee can in the back yard. That way you can go and play with your money any time you want to.

Why don’t you have your client’s buying CDs and using the interest to buy calls on a big index–say the OEX?

Interest on CDs is paid at maturity. Do you want to have the clients wait a year or more to do this strategy? Maybe they should just be in a Money Market account at the Bank. What kind of returns do we get on those deposits. Seriously. I haven’t checked the bank rates in a few weeks.

That’s an easy two step dance–why put them into something that has a lot of moving parts like an annuity?

EIAs no, but for a portion of a client’s LONG TERM investments I don’t think that a VA is always inappropriate. If the client is sophisticated enough to understand puts and calls then this would be a viable strategy.

[/quote]

[quote=bankrep1]

That's an easy two step dance--why put them into something that has a lot of moving parts like an annuity?
Just because you don't understand it, doesn't mean it's complicated. I could explain a VA in 5 minutes if someone already understands how mutual funds work.

[/quote]

Just what the world needs a illiterate punk who thinks he knows something.

I have forgotten more about variable annuities than you will ever know--and my question stands.

Why not just buy CDs and purchase calls with the interest--make your own EIA?

After all, the market always goes up so it's a sure way to riches.  No?

And by the way, please learn how to properly use the words your and you're before the end of the day.

[quote=babbling looney]

If the client is sophisticated enough to understand puts and calls then this would be a viable strategy.  

[/quote]

How sophisticated do you have to be for a variable annuity to be appropriate?

For that matter how sophisticated does one have to be to understand puts and calls?

As for using interest on CDs to buy the OEX.  Is it possible to know in advance how much interest you will be earning on a CD?

If so, why could that sum not be used to buy the OEX?  Surely your not saying that all the money the client has is what they used to buy their CD?

Why doesn't everybody do that--buy CDs for safety of principal and buy OEX calls for capital growth?  As "Earnings Always Go Up" hereafter referred to as EAGU--pronounced ego--has told us the market always goes up so that seems like as riskless a strategy as there could be.  Guaranteed return of principal and explosive growth opportunities.

When you have a winning plan it's so easy.  I guess EAGU must be really rich.  Don't you think?

No, stupid, you do not understand VAs.

Nothin' worse than a moron who thinks he's intelligent.

You’re supossed to read this, I don’t do EIA’s:



Because I know they will have better returns with mutual funds even if that’s inside a VA (if they want a guarantee)



You made it clear you don’t know how an EIA works and you refuse to offer any insight into why you think a VA with a living benefit within an IRA is a bad idea, so how do we know you really know more than I forgot.



I have not hidden my infinite wisdom about annuitties even though I don’t feel compelled to answer to you I find it, well satisfying to debate with you & tear apart your stereotypical answers



You sound like the guy who writes in our metro paper. He wrote VA’s are bad bad bad, then one day I open the paper and it says with my blessing I had my wife purchase a VA, now I know I have been telling you these are bad, but now they are good.



You see he finally read one of my many letters or emails that explained why a VA could be helpful, I doubt he even knew about living riders. How it could help someone who is risk adverse or financially uneducated (99.9% of our country) remain invested during a market downturn & achieve long term gains. He probably heard about surrender charges & high commissions and formed an opinion which was obviously wrong and dumb.    

[quote=bankrep1]

I have not hidden my infinite wisdom about annuitties even though I don't feel compelled to answer to you I find it, well satisfying to debate with you & tear apart your stereotypical answers

[/quote]

Why do you suppose the NASD and the SEC have dozens of investigaors and attornies on their staffs for the express purpose of fighting annuity fraud?

What is considered the fastest growing investment fraud in the United States?

Do the critics "just not get it?"  That punks like you, idiot who can't even write an error free sentence, get it but nobody else does.  Is that your point of view?

I think the NASD and SEC have to crack down annuity fraud, because anytime money comes into the picture people will do almost anything to get it. The fact is annuitties do pay high commissions and that probably is not going to go away.



I have seen a 90 year olds entire life savings be invested in a EIA with a 20 year CDSC (why do these products even exist)



I have seen 20 year olds with VA’s & people with high risk tolerances have VA’s in their IRA (Both big no no’s somebodys going to be fined & barred)



I think that is why they are cracking down. Not when they’re used for what they’re supposed to be used for. Kinda of like B shares, I know a guy who got fined for sticking 700K in B shares, he complained about it, and I asked him why he didn’t put it in A shares, he said the guy didn’t want to pay a load upfront (OK), why didn’t he put it in C shares. His answer was I have to eat (wrong answer) next.



I think the NASD and SEC should raise the bar on who can call themselves a financial advisor & who can sell investment products. A bit of education would go a long way I think.



As far as my grammar and typing skills I will say I just don’t spend enough time to go back and structure my sentences properly. You’re the only one whose ever cared and since it pisses you off, well I will continue to just type and not go back and correct things.

[quote=NASD Newbie]

[quote=cranky sob]

IF you understood EIA's, which you don't, you would know that if the market falls, you would still be at $100,000. The commissions are 9-10%, not 7%. Also, I get paid that 10% at a 100% payout rate, plus .25% in marketing reimbursement. Pretty neat, ain't it?

[/quote]

So, the investor gets his participation percentage of any increases in the index value, but does not suffer if the market pulls back?

If I give you $100,000 and the market goes straight down for three years then goes up in the fourth year will I be ahead at the end of the fourth year because of the increase in the fourth year?

Or am I still down because of the first three years--and the only way I'll get my $100,000 back is if I don't cash out until some later date?

[/quote]

You are typical of any NASD putz. You don't understand things that you have an opinion about.

Newkid,

I doubt you'll read this, since your thread has degraded into an EID love/hate fest after the second or third post, but here it goes anyway.

First of all, fix yourself some strong coffee and plan to read through some old posts for a couple of hours. You'll have to wade through a lot of (uhhh) stuff, but there are some good marketing tips within the previous posts.

Second, you have to realize that your current marketing plan hasn't worked, isn't working now, and continuing it will only get you fired. (This will establish the proper frame of mind.)

Third, whatever plan you implement, make sure you build on what you've achieved, so far. No sense in reinventing the wheel.

Fourth, establish a pipeline of qualified prospects. Generally, they should be divided into groups. For example, Group 1 would be qualified prospects you've contacted once, Group 2 would be those you've contacted twice, and so on. One marketing book for FA's stated that you can close 80% of those qualified prospects you've contacted 8 times. (Although that percentage is unrealistic {in my opinion}, aiming for it can only build your business.) So, maybe use 8 contacts as your cut-off point.

However, if you're past the point of building your business and you need to start bringing in assets now (i.e., only a couple of months away from being fired), get ready to cold call for 12-14 hours a day, Saturdays and Sundays. Pick only 1 or 2 investment products, become an expert in them, and start calling business owners. If you're located on the west coast, get in at 5-6 AM and start calling the east coast and work your way west and vice versa. 

(Yeah, yeah, I know. Calling on Sundays? A lot of businesses are open on Sundays. Determine which ones are and call them.)

Good luck!

[quote=NASD Newbie]

[quote=bankrep1]

I have not hidden my infinite wisdom about annuitties even though I don't feel compelled to answer to you I find it, well satisfying to debate with you & tear apart your stereotypical answers

[/quote]

That punks like you, idiot who can't even write an error free sentence, get it but nobody else does.  Is that your point of view?

[/quote]

I love the irony!  

In the exact same sentence that NASD IDIOT complains that someone can't write an error free sentence he makes AT LEAST one error.

Can you find it little man?  Do I need to point it out for you?

Thanks for the advice doberman,

I think that it is hard for anyone to get some good quality business in a market like this. I guess it is the dog days of summer.


Oh NASD newbie isn’t ‘investigaors’ supposed to be spelled 'investigators’

I suppose that University of Michigan degree in Financial Engineering is finally paying off.

Newkid,



Summer is tough, but if you work hard you can still pull in business. Also you’re lining up fall prospects. It is all about the pipeline.



Are you still in Michigan?

[quote=bankrep1]Newkid,

Summer is tough, but if you work hard you can still pull in business. Also you're lining up fall prospects. It is all about the pipeline.

[/quote]

And as we all know, earning always go up and as a result the market always goes up.

What, me worry?

You can’t start a sentence with And, even if it’s capitalized. Also the word is earnings not earning.