[quote=ManagedMoney] [quote=Bobby Hull]

[quote=AllREIT][quote=rialsoon]Bobby, unless you are God, I suggest some basic finance courses at an accredited college might be a real benefit to your clients. [/quote]

You might benefit from some troll dectection classes.

Bobby is a long time RR troll who uses a persona of an abusive though sucessful annuity shark to annoy and insult everything that moves.

If you ignore him, he will ignore you. The supposed annuities (with 24% CAGRs) that he claims to flog don't exist. Ignore him.


[/quote]

What's your email address? I'll send you a statement. Don't post it if you don't want to feel like an a$$hole, though.

[/quote]

Do your clients know that you send their statements out to complete strangers via the internet?  Have they given you permission to do that?
[/quote]

If it doesn't have their name on it is it their statement? Do you clients know that you ask stupid questions?

[quote=Indyone]Bobby, you could always do what I did when someone kept questioning my series 7 score...cover all names, account numbers, etc, scan the rest and post the image here.  I used www.theimagehosting.com to post the image free of charge.  That's the best way I know of to shut up doubters.[/quote]

I didn't know I could do that. I'm in a quandry, though. I don't want to help any of the a$$holes, but I DO want to rub their noses in it. I've got friends on this board who know what I do and can vouch for me and some of them are doing the same thing. If you want to PM your email address, I'll send you a PDF file.

BH, you don't have to send me a PDF...I know what you're using and can vouch numbers very close to what you're quoting.  I've added the L share to my lineup and the wholesaler is stopping by a week from tomorrow.  The only difference between me and you is that I'll take less up front for the 1% trail in year two.

Oh...and I'm a bit more PC...

[quote=Indyone]

BH, you don't have to send me a PDF...I know what you're using and can vouch numbers very close to what you're quoting.  I've added the L share to my lineup and the wholesaler is stopping by a week from tomorrow.  The only difference between me and you is that I'll take less up front for the 1% trail in year two.

Oh...and I'm a bit more PC...

[/quote]

I've been doing a little L share myself and am moving in that direction. It's not a bad payday and it's much easier to sell than a 7 product. Hell...I've even been selling 5 year surrender EIA's.

Thus far, I've got about 4 mil in L share VAs, which means $40K in trails and proper incentive to continue servicing these accounts...I'm glad you're seeing the light...

Hey, Joeda, your box is full again so I can't answer your question...

[quote=Bobby Hull][quote=ManagedMoney] [quote=Bobby Hull]

[quote=AllREIT][quote=rialsoon]Bobby, unless you are God, I suggest some basic finance courses at an accredited college might be a real benefit to your clients. [/quote]

You might benefit from some troll dectection classes.

Bobby is a long time RR troll who uses a persona of an abusive though sucessful annuity shark to annoy and insult everything that moves.

If you ignore him, he will ignore you. The supposed annuities (with 24% CAGRs) that he claims to flog don't exist. Ignore him.


[/quote]

What's your email address? I'll send you a statement. Don't post it if you don't want to feel like an a$$hole, though.

[/quote]

Do your clients know that you send their statements out to complete strangers via the internet?  Have they given you permission to do that?
[/quote]

If it doesn't have their name on it is it their statement? Do you clients know that you ask stupid questions?

[quote=Bobby Hull]

[quote=Indyone]Bobby, you could always do what I did when someone kept questioning my series 7 score…cover all names, account numbers, etc, scan the rest and post the image here.  I used www.theimagehosting.com to post the image free of charge.  That’s the best way I know of to shut up doubters.[/quote]

I didn't know I could do that. I'm in a quandry, though. I don't want to help any of the a$$holes, but I DO want to rub their noses in it. I've got friends on this board who know what I do and can vouch for me and some of them are doing the same thing. If you want to PM your email address, I'll send you a PDF file.

[quote=ManagedMoney] [quote=Bobby Hull][quote=ManagedMoney] [quote=Bobby Hull]

[quote=AllREIT][quote=rialsoon]Bobby, unless you are God, I suggest some basic finance courses at an accredited college might be a real benefit to your clients. [/quote]

You might benefit from some troll dectection classes.

Bobby is a long time RR troll who uses a persona of an abusive though sucessful annuity shark to annoy and insult everything that moves.

If you ignore him, he will ignore you. The supposed annuities (with 24% CAGRs) that he claims to flog don't exist. Ignore him.[/quote]

What's your email address? I'll send you a statement. Don't post it if you don't want to feel like an a$$hole, though.[/quote]

Do your clients know that you send their statements out to complete strangers via the internet?  Have they given you permission to do that?[/quote]

If it doesn't have their name on it is it their statement? Do you clients know that you ask stupid questions?[/quote]

If it doesn't have their name on it, then it isn't worth the paper it's been made up on.[/quote]

Statements aren't necessary.  Just look for subaccount performance numbers in that ballpark and you should be able to figure out what he's using.  I'm not going to do your homework for you, but it's not all that hard...it's a fairly popular VA.

If it doesn't have their name on it, then it isn't worth the paper it's been made up on.

What's the big deal here?  I do this all the time. I have a presentation booklet for "Sample Customer" made up using real statements and a real portfolio, with the personal information blacked out of course. It includes the Morningstar reports of each asset and lots of other nifty and impressive charts and graphs, stock intersection report etc etc.

It shows the prospect what type of reports and analysis of their accounts that they can expect when they become clients.   This was approved my my compliance department.  I update it every quarter.

[quote=Dust Bunny]

If it doesn’t have their name on it, then it isn’t worth the paper it’s been made up on.

What's the big deal here?  I do this all the time. I have a presentation booklet for "Sample Customer" made up using real statements and a real portfolio, with the personal information blacked out of course. It includes the Morningstar reports of each asset and lots of other nifty and impressive charts and graphs, stock intersection report etc etc.

It shows the prospect what type of reports and analysis of their accounts that they can expect when they become clients.   This was approved my my compliance department.  I update it every quarter.

I don't see the problem.  If we show a hypothetical illustration based on historical performances of a selected group of funds (with or without a load). You probably run these all the time.  How is this better than showing them an actual statement of a selection of mutual funds either within an annuity (with all charges factored in) or a portfolio statement?

As long as you still do the "past performance is no predictor, yada yada yada...." disclosures with the statements or with the reports based on actual accounts, don't you think it would be the same.

"Look at this hypothetical example Mr Client.  If we had been in these funds/annuity during period XX in these allocations XX this would have been the performance.  In fact many of my clients were allocated this way during the last market down turn. Of course past performance  blah blah blah blah" 

What is wrong with this?

Do you promise to make portfolio changes in the prospect’s account when

you make the change in the hypo? If so, that strikes me as a logistics

nightmare, and if not, it seems deceptive.

 I don't understand your question.  Do you not use hypothetical illustrations? Is it your idea that I should go and change every client's allocation when I run a new hypothetical illustration of historical performance? 

I promise to meet face to face with my clients at least 3 times a year for indepth portfolio reviews and contact them by phone if/when anything might need our immediate attention. 

What does that have to do with running a historical hypothetical illustration?

You mentioned that you update your hypo each month. How does that jibe

with the prospect/client that you pitched a different portfolio last month? By

the end of the year your hypo won’t look anything like last year’s prospect.



And for the record, no. I don’t use hypotheticals.

[quote=Philo Kvetch]You mentioned that you update your hypo each month. How does that jibe
with the prospect/client that you pitched a different portfolio last month? By
the end of the year your hypo won't look anything like last year's prospect.

And for the record, no. I don't use hypotheticals.[/quote]

Better check your reading comprehension.

I have a presentation booklet for "Sample Customer" made up using real statements and a real portfolio, with the personal information blacked out of course. It includes the Morningstar reports of each asset and lots of other nifty and impressive charts and graphs, stock intersection report etc etc.

It shows the prospect what type of reports and analysis of their accounts that they can expect when they become clients.   This was approved my my compliance department.  I update it every quarter

Nothing wrong with not using hypotheticals of historical returns of a mix of mutual funds if you don't want to.  I assume you also don't reference the 1-3-5-10 year returns on the investments that you are proposing?   How do you market investment products?

[quote=Indyone]

Thus far, I’ve got about 4 mil in L share VAs, which means $40K in trails and proper incentive to continue servicing these accounts…I’m glad you’re seeing the light…

Hey, Joeda, your box is full again so I can't answer your question...

Not every month. Every quarter. Sorry, my mistake.



Look, I’m not being confrontational. But follow me on this:



First of all, we’re ALL one correction away from an arbitration. Agreed?

Good. Now picture this.



Client’s Attorney- Now Ms Bunny, did you show my client this

hypothetical, which was compliance approved, of course?



DB-Why yes I did.



Atty-Is it the same today as it was nine months ago when you showed it

to my client?



DB-Well, no, I update it every quarter



Atty-I see. Did you make my client aware of the changes to your

recommendations when you made them?



DB-No, I didn’t.



Atty-And why not, Ms Bunny?



DB-Well, it wasn’t necessary.



Atty-I see Ms. Bunny…you have my client’s money so there’s no further

need to concern yourself with the cilent’s well-being.



And so forth, and so on. You get the idea.



In answer to your question, I very rarely use mutual funds, so hypos, at

least for me, are a non-issue.

I promise to meet face to face with my clients at least 3 times a year for indepth portfolio reviews and contact

Dust Bunny, I hope that your clients are all high networth and are all in fee-based accounts. 

[quote=Philo Kvetch]
In answer to your question, I very rarely use mutual funds, so hypos, at

least for me, are a non-issue.[/quote]



I don’t even use hypo’s. I tell people that past performance isn’t very
useful except for getting a flawed sense of potential future returns. I
tell clients the parable of the Turkey.

[quote]Every day the turkey gets fed a handful of grain by the farmer.
Some days he gets a little more and some days a little less, but in
general as he grew bigger he got more grain each day. He was a very fat
and happy turkey, content with life. Then came November 24th. [/quote]



So don’t read too much into past performance as it can tell you very little about the future, sometimes.



The best we can do is to say that in the past equity returns have been
X +/- s, bond returns have been X +/- s, other assets have been X +/- s
etc. And when combined into a diversified portfolio, the total risk
goes down.



As for dividends, they are when as and if declared, while interest payments are a little more deterministic

You actually tell that turkey nonsense to people? And they don’t look

disgusted and walk out?



Obviously your demographic extremely unsophisticated.