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Added for You - Annuities - Oversight Needed On Equity-Indexed Annuities
With all of the investment opportunities available, how does the novice make sense of it all? To start with the basics, it’s important to know what type of fund you are investing in, such as Mutual Funds and Hedge Funds. A Mutual Fund is an SEC-registered investment vehicle while a Hedge Fund is a non-regulated investment vehicle. While Mutual Funds only require small, minimum investments, are available to the general public, and are not limited either in number of investors or in number of funds that can be purchased, a Hedge Fund generally has a large, minimum investment required (often around $1 million), are limited to 499 investment partners, and inves
First, being classified as an investment will result in better disclosure of the risks involved with this product. Equity-Indexed Annuities are complex products. Many of the agents selling them don’t even understand their intricacies. Consumers are not adequately warned of the dangers they face in these products. Most
John F. Kennedy said, "Lofty words cannot construct an alliance or maintain it; only concrete deeds do that." Partnering and alliances are the terms used to describe mutually beneficial relationships. Partnering is the business paradigm for the next millennium. Relationships are the corner stone of any successful business. Outrageously Successful Relationships (OSRs) are the conduits for successful business growth. More people in business today should make the smart decision and make daily Relationship Bank Deposits, the concrete deeds Kennedy spoke of in 1963. You must make deposits before you can withdrawal.Throughout my adult life, people have
For almost 2 years now, I’ve been warning people against buying Equity-Indexed Annuities. Hopefully, my articles have caused agents all across the country to lose sales. That’s why I am regularly attacked and berated by agents. When I started, I was a ‘lone voice in the wilderness’. Now, the SEC and the NASD are interested in the situation. The national media are covering the story more regularly. The chorus of voices calling for change is growing. For example, The Wall Street Journal had an article on October 15th that echoed my complaints.
Greater regulation and oversight of these products is needed because, even though they are technically an insurance product, they are being sold as an investment. Anyone looking at their sales literature can plainly see that. With promises of market gains and the ‘guarantee’ that you won’t suffer any losses, this investment is promoted as the answer to all your concerns. Investors are buying it as an investment, not insurance. Therefore, they should be regulated as investments and not as insurance.
Investors will benefit if Equity-Indexed Annuities are classified as an investment. It will reduce, but not eliminate, the potential for abuse. Here’s why.
First, being classified as an investment will result in better disclosure of the risks involved with this product. Equity-Indexed Annuities are complex products. Many of the agents selling them don’t even understand their intricacies. Consumers are not adequately warned of the dangers they face in these products. Most
Don't you often wish that life was simpler? I do. In our fragmented world today, I so often find things far too complex.I started looking at the internet and its potentials about a year ago. To be honest it presented far too much information to consume before I got to the solution of what I was looking for. Had I not previously been in a job that required sifting through reams of information, I'd have been lost. I would have spent countless hours before finding guides to guides before finding where I wanted to be.OK, there are always options and one can always take a number of them before reaching a goal .... Each to their own. The point
For almost 2 years now, I’ve been warning people against buying Equity-Indexed Annuities. Hopefully, my articles have caused agents all across the country to lose sales. That’s why I am regularly attacked and berated by agents. When I started, I was a ‘lone voice in the wilderness’. Now, the SEC and the NASD are interested in the situation. The national media are covering the story more regularly. The chorus of voices calling for change is growing. For example, The Wall Street Journal had an article on October 15th that echoed my complaints.
Greater regulation and oversight of these products is needed because, even though they are technically an insurance product, they are being sold as an investment. Anyone looking at their sales literature can plainly see that. With promises of market gains and the ‘guarantee’ that you won’t suffer any losses, this investment is promoted as the answer to all your concerns. Investors are buying it as an investment, not insurance. Therefore, they should be regulated as investments and not as insurance.
Investors will benefit if Equity-Indexed Annuities are classified as an investment. It will reduce, but not eliminate, the potential for abuse. Here’s why.
First, being classified as an investment will result in better disclosure of the risks involved with this product. Equity-Indexed Annuities are complex products. Many of the agents selling them don’t even understand their intricacies. Consumers are not adequately warned of the dangers they face in these products. Most
Do you know that SMEs or the small and medium sized internet businesses can get dramatic sales from local pay per click ad campaigns? Search engines like Google and Yahoo offer online promotion programs that can actually help SMEs in achieving higher sales. These programs are not as expensive as you may have think of them, they are actually an excellent and economical way to advertise a site, product or services on the local marketplace.Local Listing and PPC for Better SalesGoogleSMEs catering to local market can depend on Google and Yahoo’s ad programs. How do these programs work? Google can offer you a to
Greater regulation and oversight of these products is needed because, even though they are technically an insurance product, they are being sold as an investment. Anyone looking at their sales literature can plainly see that. With promises of market gains and the ‘guarantee’ that you won’t suffer any losses, this investment is promoted as the answer to all your concerns. Investors are buying it as an investment, not insurance. Therefore, they should be regulated as investments and not as insurance.
Investors will benefit if Equity-Indexed Annuities are classified as an investment. It will reduce, but not eliminate, the potential for abuse. Here’s why.
First, being classified as an investment will result in better disclosure of the risks involved with this product. Equity-Indexed Annuities are complex products. Many of the agents selling them don’t even understand their intricacies. Consumers are not adequately warned of the dangers they face in these products. Most
Postcards are cheap to print and mail but they have one major weakness as far as direct response lead generation is concerned. They don’t have a physical response mechanism.Traditional letter packages contain a business reply card and maybe even a business reply envelope. But a postcard, unless it’s a double postcard, contains nothing that your prospect can mail back to you. Here are eight ways to generate that response anyway, ranked in order of likely effectiveness.1. Toll-free number to a live operator. Tell your prospect to pick up the phone and call you on your nickel. Have operators standing by to take orders and answer questions. their sales literature can plainly see that. With promises of market gains and the ‘guarantee’ that you won’t suffer any losses, this investment is promoted as the answer to all your concerns. Investors are buying it as an investment, not insurance. Therefore, they should be regulated as investments and not as insurance.
Investors will benefit if Equity-Indexed Annuities are classified as an investment. It will reduce, but not eliminate, the potential for abuse. Here’s why.
First, being classified as an investment will result in better disclosure of the risks involved with this product. Equity-Indexed Annuities are complex products. Many of the agents selling them don’t even understand their intricacies. Consumers are not adequately warned of the dangers they face in these products. Most
I've been doing business online since 1999. In that time, I've looked at several different options for ways to sell things online, and finally, in 2003, decided that I had wasted too much time in doing things the old-fashioned way (having customers call me with credit card numbers or mailing me a check), and that I was long overdue to finally use an online shopping cart as a way to sell products and services online.But, there seemed to be so many options out there. Where should I start?The first thing I had to do was find a merchant card provider. Since I do little face-to-face business, I chose a provider who deals almost exclusively with p
First, being classified as an investment will result in better disclosure of the risks involved with this product. Equity-Indexed Annuities are complex products. Many of the agents selling them don’t even understand their intricacies. Consumers are not adequately warned of the dangers they face in these products. Most think they can’t lose money in this investment and that’s simply not true.
For instance, many of those purchasing one of the most popular Equity-Indexed Annuities fail to realize that if they pull their money out of the contract when the contract matures that they won’t receive the index-related returns they thought they would. In fact, those wanting a lump sum from this specific product after 10 years would be GUARANTEED of making a total return of about 1.5% for the entire 10 year period. Few would ever buy this investment if they clearly understood that.
Second, those selling investments are required to make sure that the investment they sell is suitable for the person they’re selling it to. When a commission-based investment is sold, it is reviewed by compliance officers to verify suitability. Compliance officers closely scrutinize investment sales because it’s their job to protect their firm from lawsuits and regulatory fines. And they know that their firms may be audited by the SEC.
No compliance officer would approve the sale of an Equity-Indexed Annuity for 100% of a person’s investable assets—but I see those recommendations all the time. No compliance officer would approve of a transaction where the investor pays a large penalty on one annuity contract to transfer the money into an Equity-Indexed Annuity. This has become such a problem, though, that the NASD has issued warnings about it.
Third, the high commissions equity-indexed annuities offer create a huge conflict of interest for the advisor. If you were an advisor and had the choice of making 2% or 15% on an
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