by Guest » Sun Feb 07, 2010 01:42 am
Google Annuities Obama New York times
Read it for yourself! this is hilarious! This has to just piss the stock brokers and variable annuity pushers off. I personally think it is hilarious!
"There are also stockbrokers and financial planners standing in the way. Once money goes into an annuity, they can’t earn commissions from trading it anymore and may not be able to charge fees for managing it. Financial advisers have a charming term for this phenomenon — annuicide. You insure, and their revenue dies. So, many of them will try to talk you out of it."
"Still, all of this attention from the president is a stunning turn of events for a rather unloved product. Many consumers reflexively run in fear when salesmen turn up pitching high-cost and complex variable annuities, which evolved from their simpler siblings decades ago. Today, the Securities and Exchange Commission maintains an extensive warning document on its Web site for investors considering the variable variety."
Read it for yourself! this is hilarious! This has to just piss the stock brokers and variable annuity pushers off. I personally think it is hilarious!
"There are also stockbrokers and financial planners standing in the way. Once money goes into an annuity, they can’t earn commissions from trading it anymore and may not be able to charge fees for managing it. Financial advisers have a charming term for this phenomenon — annuicide. You insure, and their revenue dies. So, many of them will try to talk you out of it."
"Still, all of this attention from the president is a stunning turn of events for a rather unloved product. Many consumers reflexively run in fear when salesmen turn up pitching high-cost and complex variable annuities, which evolved from their simpler siblings decades ago. Today, the Securities and Exchange Commission maintains an extensive warning document on its Web site for investors considering the variable variety."
Posted: Sun Feb 07, 2010 06:35 pm Post Subject:
Disturbing? BNTRS?
Posted: Sun Feb 07, 2010 10:38 pm Post Subject:
So much so I haven't been able to sleep at night ;)
I guess if I'm not swinging a pick axe at the securities industry, I'm one of them :O
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