Estate Planning & Fixed Annuity Forum.
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Who sells what?
Broker-Dealers and their "Certified Clueless Clown" FINRA "Registered Representatives" have done great harm to the American public's Life Savings, 401Ks, IRAs and other Private Pension Plans by selling unsuitable Variable Annuities with little or no insurance training or understanding of risk management whatsoever. 

Variable Annuities are SOLD by STOCK BROKERS not Insurance Agents. 

The graphic below is an actual client statement, used with permission, that shows EXACTLY, in dollars and cents painful detail, why these products are per se' UNSUITABLE for persons over the age of 60.

It's these  jack assterisk "Registered Representatives" that you read about ALL THE TIME in the newspaper. Please understand these Certified Clueless Clowns had to get an insurance license to be able to sell the infamous bloated pig with lipstick known as a Variable Annuity but THEY ARE NOT insurance agents....they are Stock Brokers.

Many of them hide behind the letters CFP after their names to mask the fact they are actually commission paid salesmen of financial services and products just like... ALL "other" financial services advisors.

NOBODY is paid a salary or hourly rate in this business, unless you're an "employee agent" working at the incoming call center.

The actual statement below is your "Typical Variable Annuity."
Fiduciary Financial Consultant



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Reply with quote  #2 

$30,650 in premium paid into a Traditional Fixed Annuity that offers a 10% premium bonus would have produced the following results.

February 12th 2008 $30,650 premium PLUS 10% first year bonus equals a beginning year one Account Value of $33,715.

The GUARANTEED first year interest is 3%.

$33,715 PLUS 3% tax deferred interest equals an End of Year one (1) or on February 12th 2009 the client would have an Account Value of $34,726.

Now let me provide you some [eek] eye [eek] popping math.

The client who bought the FIXED Annuity on February 12th 2008 has $34,726 on February 12th 2009.

THE, Certified Clueless Clown, FINRA "Registered Representative" who sold the now 80 year old man the Variable Annuity cost his client $11,982 of his life savings in one year and on February 12th 2009 the client has only $18,668 dollars left.

That's a 39.09% LOSS in one year.

But it's actually worse than that.

The client with the Traditional FIXED Annuity will get ANOTHER 3% GUARANTEED interest on his $34,726 in year two (2) bringing his End of Year two (2) Account Value to $35,767 on February 12th 2010.

Now for the [eek] eye [eek] popping math:

Do you know what type of IMPOSSIBLE market gain the client with this bloated pig with lipstick Variable Annuity would have to get to just break EVEN with the FIXED Annuity next year? Feb 2009 to Feb 2010.

It's 86.24%....just to stay even.

Want to know the truth about money?

Money is plentiful for those who understand the 7 simple rules of its acquisition.

#1) Start saving.

#2) Control your expenditures.

#3) Guard your money from loss.

#4) Safely earn money on your money.

#5) Make your home a profitable investment.

#6) Insure a future income.

#7) Increase your ability to earn more money.

The Five Laws of Money.

#1) Money comes in increasing quantity to any person who will set aside not less than 10% of their earnings to create an estate for their future and that of their family.

#2) Money grows diligently and contently for the wise owner who finds for it profitable, safe and reliable investments.

#3) Money stays with the cautious owner who invests it under the advice of those wise in its handling.

#4) Money slips away from the person who invests it in businesses or purposes with which he is not familar or which are not appoved by those skilled in its keep.

#5) Money flees from the person who would force it to impossible earnings or who follows the alluring advice of tricksters and schemers or who trusts it to their own inexperience and romantic desires for investments.


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Reply with quote  #3 
Bumping to the top of the board because I "feel" like it!
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Gary D. Spicuzza,

The Trust Group
2435 U.S. Hwy. 19
Suite 125
Holiday, FL 34691

Office: 727-945-8599