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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 12:59am
Also, Fidelity Guarantee Life has a MYGA special right now on a 5 year. 3.25% per year to the client, and commission is (I think) 2.5% or 3.0% to the agent (no trail).
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 7:30am
1 yr brokered CDs are at 2%
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 7:54am
Originally posted by bc2051 bc2051 wrote:

1 yr brokered CDs are at 2%
us 1 yr treasury is also 2%
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 12:33pm
He asked about fixed annuities.
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 3:02pm
Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 7:03pm
Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?

Brokered CDs have market fluctuations and fixed annuities don’t.
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 7:14pm
Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?

Brokered CDs have market fluctuations and fixed annuities don’t.


Touché. Do these fixed annuities have surrenders or no? I’m in a “training wheel” world when it comes to this type of annuity
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D.H.K. View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote D.H.K. Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 8:25pm
Yes.
Fear does not exist in this dojo, does it? NO, SENSEI!
Pain does not exist in this dojo, does it? NO, SENSEI!
Defeat does not exist in this dojo, does it? NO, SENSEI!
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RIArules View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RIArules Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 8:32pm
Yeah, but what kind of market fluctuations are you really worried about with 1 year maturities??
We may "rob you slowly," but you're not going to see that shit.

Edward Jones Newb, Circa September 2016
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 8:35pm
Originally posted by RIArules RIArules wrote:

Yeah, but what kind of market fluctuations are you really worried about with 1 year maturities??


#1 with Diet Coke super-sized. I think you, or whoever said it first, was right. Don’t shit-slam the guy in an annuity. Can’t see how anyone sells a 3-5 yr annuity at 2% right now
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 9:09pm
Originally posted by RIArules RIArules wrote:

Yeah, but what kind of market fluctuations are you really worried about with 1 year maturities??

I thought we were talking 5 year?
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 9:10pm
Originally posted by bc2051 bc2051 wrote:

Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?

Brokered CDs have market fluctuations and fixed annuities don’t.


Touché. Do these fixed annuities have surrenders or no? I’m in a “training wheel” world when it comes to this type of annuity

Yes
10% free withdrawal.
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 9:27pm
Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?

Brokered CDs have market fluctuations and fixed annuities don’t.


Touché. Do these fixed annuities have surrenders or no? I’m in a “training wheel” world when it comes to this type of annuity

Yes
10% free withdrawal.


I was halfway being sarcastic, but EJ fixed annuities do suck. Just to be clear tho, we’re talking 1 yr CDs vs 3-5 yr annuities both at 2%. I’ll deal with fluctuations
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Feb/22/2018 at 10:00pm
Originally posted by bc2051 bc2051 wrote:

Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?

Brokered CDs have market fluctuations and fixed annuities don’t.


Touché. Do these fixed annuities have surrenders or no? I’m in a “training wheel” world when it comes to this type of annuity

Yes
10% free withdrawal.


I was halfway being sarcastic, but EJ fixed annuities do suck. Just to be clear tho, we’re talking 1 yr CDs vs 3-5 yr annuities both at 2%. I’ll deal with fluctuations

We have a 3 year on our platform paying 2.7% I think.
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2018 at 12:15am
Originally posted by Iamlegend Iamlegend wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

He asked about fixed annuities.


I get that, but how do you put someone in a 3-5 yr annuity at the same rate as a 1 yr CD.....to get paid better?

Brokered CDs have market fluctuations and fixed annuities don’t.
 
This is one answer.  But I've been using the Pac Life product myself.  Similar or slightly better rate.  Allows 10% free each year.  And *IF* rates keep going up, they can bump the rate up.  If rates go down, they are guaranteed the current rate for the surrender period.
 
A buddy of mine uses that Security Benefit Rate Track product.  Pretty cool concept.  If LIBOR moves, it moves. 
 
I haven't used the Fidelity product.  But let's be realistic.  3.25% is more than 50% better than 2.0%.  That's a big move in rates to make up that kind of ground in the next 5 years.  If you are talking big money, 1.25% difference in interest is a big deal. 
 
The other products, like the flexible premium ones...they are for small accounts.  I'm not doing brokered CDs for a Roth IRA contribution.  It is what it is.  And you certainly aren't going to DCA into a CD.
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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B24 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2018 at 6:56am
Originally posted by helado helado wrote:

Also, Fidelity Guarantee Life has a MYGA special right now on a 5 year. 3.25% per year to the client, and commission is (I think) 2.5% or 3.0% to the agent (no trail).


I've sold a shit load of these over the past few years. It was usually 3.15%, but they would run specials at 3.25%.
"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Sporsfreak, 09/20/16

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Darngoner Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2018 at 7:16am
Some people need to get off their moral high horse. Just admit you’re doing for the money and if you don’t you’re either lying to me or lying to yourself. If you want to go into a business where the aim is to help people financial services isn’t for you. You service clients well and take care of their needs because service begets business.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2018 at 7:45am
Originally posted by Darngoner Darngoner wrote:

Some people need to get off their moral high horse. Just admit you’re doing for the money and if you don’t you’re either lying to me or lying to yourself. If you want to go into a business where the aim is to help people financial services isn’t for you. You service clients well and take care of their needs because service begets business.

No one sells fixed annuities for the money. If you wanted to do something for the money, we would do an A share or advisory.
At WFA the comp on a fixed annuity is 2% and no trail. I do brokered CDs quite a bit lately as well. A few weeks ago I did 200k in short term CDs for a client and my comp was less than $100 I think. I usually don’t even look at the comp or know exactly what it is because it is about doing what fits for the particular client.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2018 at 8:20am
Originally posted by Darngoner Darngoner wrote:

Some people need to get off their moral high horse. Just admit you’re doing for the money and if you don’t you’re either lying to me or lying to yourself. If you want to go into a business where the aim is to help people financial services isn’t for you. You service clients well and take care of their needs because service begets business.


You’re a welcome addition to the industry. We need more like you
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Macduff Quote  Post ReplyReply Direct Link To This Post Posted: Feb/23/2018 at 8:46am
Originally posted by Iamlegend Iamlegend wrote:

Originally posted by Darngoner Darngoner wrote:

Some people need to get off their moral high horse. Just admit you’re doing for the money and if you don’t you’re either lying to me or lying to yourself. If you want to go into a business where the aim is to help people financial services isn’t for you. You service clients well and take care of their needs because service begets business.

No one sells fixed annuities for the money. If you wanted to do something for the money, we would do an A share or advisory.
At WFA the comp on a fixed annuity is 2% and no trail. I do brokered CDs quite a bit lately as well. A few weeks ago I did 200k in short term CDs for a client and my comp was less than $100 I think. I usually don’t even look at the comp or know exactly what it is because it is about doing what fits for the particular client.

I do brokered CD's occasionally and I can't stand them. Going forward, I'm not going to do them unless the client has other money with me. The short duration CD's end up being a loss for me in most instances because of the $40 fee that my BD charges. If I'm making money elsewhere then I'll eat it but I'm not going to be doing only CD's for anybody. 

Sorry, I'm just frustrated by the last client for whom I bought CD's. 
“I was born for the storm, and a calm does not suit me.”

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