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Chink in the armor of American Funds

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Feb 23, 2010 10:11 pm

I smoked every fund they have by performance and risk. WTF does one need AF? All you’re doing is supporting an army of people on your clients dime. I drive a quad cab short bed Ram. I could run over their cars just like their funds

Feb 23, 2010 10:17 pm

I would love to have a 68 ram air cherry red white top convertible Firebird and or a cherry red white top convertible 63 Vet.

Feb 23, 2010 10:25 pm

[quote=HAcoreRD][quote=Spud34][quote=Spaceman Spiff]

We have a new wholesaler.  Maybe 37-38 years old.  He lives in Kansas.  I'm on the very eastern edge of his territory.  Think I'll see him more than once or twice a year?  Dude pulls up in a BMW 7 series.  Now, I know you're in your car a ton, but can we at least show some sort of restraint in the purchase of your automobile?  That's the kind of stuff that gets under my skin. [/quote]  It is the same sort of thing with you Jones guys.  It just burns my arse to see a Jones FA pull up in his '87 Tarus, wearing his J.C. Penney polyester suit, then begins spouting off how he works for the greatest company in the industry...    LOL, just having some fun.[/quote] I know it is OT, but this brings up a good point and something I have been bouncing around.  What kind of car IS suitable for an FA.  I can afford an 05 or 06 3 series Bimmer, but does it send the right message or the wrong one?  I could get a bland Taurus, but does that take away credibility?  Being that I will be going to A LOT of homes what should I be driving to convey professionalism and success, without looking arrogant and wasteful.[/quote]   Successful people want to work with successful people.  A car doesn't denote success, but it doesn't detract from it either.  I drive a 7 series, and to the best of my knowledge, it has never hurt me with a client or prospect. 
Feb 23, 2010 10:36 pm

I’d go with a Vespa…nothing says sporty like an Italian sportbike…

Feb 23, 2010 10:46 pm

[quote=QB] [quote=HAcoreRD][quote=Spud34][quote=Spaceman Spiff]

We have a new wholesaler. Maybe 37-38 years old. He lives in Kansas. I’m on the very eastern edge of his territory. Think I’ll see him more than once or twice a year? Dude pulls up in a BMW 7 series. Now, I know you’re in your car a ton, but can we at least show some sort of restraint in the purchase of your automobile? That’s the kind of stuff that gets under my skin. [/quote]

It is the same sort of thing with you Jones guys. It just burns my arse to see a Jones FA pull up in his '87 Tarus, wearing his J.C. Penney polyester suit, then begins spouting off how he works for the greatest company in the industry… LOL, just having some fun.[/quote]





I know it is OT, but this brings up a good point and something I have been bouncing around. What kind of car IS suitable for an FA. I can afford an 05 or 06 3 series Bimmer, but does it send the right message or the wrong one? I could get a bland Taurus, but does that take away credibility? Being that I will be going to A LOT of homes what should I be driving to convey professionalism and success, without looking arrogant and wasteful.[/quote]













Successful people want to work with successful people. A car doesn’t denote success, but it doesn’t detract from it either. I drive a 7 series, and to the best of my knowledge, it has never hurt me with a client or prospect.

[/quote]



I believe you should drive a nice car in this business. Image is important and your clients or prospects will appreciate and respect you more if you don’t show up in a shatbox. I’m not saying you need a 7 series, but a nice looking newer car should do the trick.   



For the record, I drive a new Accord. It’s not flashy, but I agree that cars are depreciating assets and I’d rather spend my cash on something else.



Any yes, that ZR-1 is awesome. Unfortunately I would have my license revoked within 24 hours of owning that thing.
Feb 23, 2010 11:10 pm
Gaddock:

I smoked every fund they have by performance and risk. WTF does one need AF? All you’re doing is supporting an army of people on your clients dime. I drive a quad cab short bed Ram. I could run over their cars just like their funds

 
Feb 23, 2010 11:17 pm

How about this ? Listed $18,900 .... Looks high end but it's a 2003...
Feb 23, 2010 11:22 pm

I actually considered a Range Rover until I found out how bad the fuel mileage ratings were and how high the insurance rates were.

I’m really considering an 06 325xi. AWD is a big plus in my neck of the woods.

Feb 23, 2010 11:41 pm

[quote=Squash1]









How about this ? Listed $18,900 … Looks high end but it’s a 2003…[/quote]





Nice looking truck…brutal gas mileage and expensive to fix
Feb 23, 2010 11:57 pm

My commute is 3.7 miles each way… So gas isn’t an issue… But the fact that it is a ford is…would rather get one of these… if only they would come down in price

  or this might set you apart for $20K less than the Jag
Feb 24, 2010 12:10 am

If I was buying today on a budget, I’m a fan of the impala. Not much difference from '06 to '10, so you can buy the $10k version, spray a little “new car smell” fragrance and people will think you bought a new one.



Does anyone know of a fund family that has paralleled American Funds performance?

Feb 24, 2010 12:18 am

'Vette looks sweet....my older brother had a '59 about 30 plus years ago that he foolishly sold...I've never let him live it down.....

Anyway, back to American Funds...they are ok in some areas, mediocre in many, and I see them in every 401k plan I've ever looked at= that may be a big reason why they're so huge.   I don't know about anyone else, but I can't name any American Fund wholesaler that has ever covered my territory, and I've been in the business 17 years.
Feb 24, 2010 12:36 am

The wholesaler in my area has been here for 10-15 years... Worth millions(combo of Job and family money)

Lawrence: Not really, you could say FT, but I hate them too, you could say First Eagle but they only have 4-5 funds(well 2 are almost the same)... Nobody needs a generalist ok at everything fund company....Fund familys are like that good high school basketball player.. Looks really good against the current talent but when they get to college half of them disappear and the half that don't only 10% of those make it to the pros(as like a 6th man).. So as a fund family American is very good(compared to other big fund companies) but as you open up the realm(etfs,etc) you find out that they are good for someone to throw money in and never really do anything with(401ks) but compared to what you can do with other investments they fail by comparison..
Feb 24, 2010 12:48 am

[quote=Squash1]My commute is 3.7 miles each way… So gas isn’t an issue… But the fact that it is a ford is…would rather get one of these… if only they would come down in price

  or this might set you apart for $20K less than the Jag [/quote]   I say "GO YUGO!!"  LOL, probably the majority of folks on here will have to Google Yugo to even know what that is!  Nothing paints the aire of professionalism like a Yugo!
Feb 24, 2010 12:59 am

Buy and drive a car that reflects your clientele.  If you work with blue collar business owners who drive pickups, they aren’t gonna give two sh!ts you’re driving a 7 series. 

  My clients tend to be very good savers and couldn't care less what kind of car I drive.  They are very well off and realize sinking money into a depreciating asset isn't smart.  So I plan on driving my VW into the ground and buying a used Honda/Acura when the time comes.
Feb 24, 2010 2:32 am

[quote=Ron 14]

1987 Huffy Dirt Bike, no seat, is the way to go.

[/quote]   Ron If someone wants to know what it feels like to sit on a bike with no seat Windy could probably give them a pretty good explanation from his Sat nights in boys town. 
Feb 24, 2010 2:37 am

For those still door knocking try something reasonable:

    When you get to Seg 3 make your house calls in something a little nicer:  
Feb 24, 2010 2:39 am

Here is a pic from me and my American Funds wholesaler a few years ago when I closed that $25 a month 529 DCA.

 
Feb 24, 2010 2:43 am

Are you the blonde chick in the back, LA?

Feb 24, 2010 2:45 am

I drive a 2007 Caddy CTS.  Can afford whatever I want but its a nice image car and not a German badge of prick.  Anything else is too flashy.  Are you guys really driving Honda accords and going after big money? Crazy.  That’s okay for a guy just started out but a vet?