Nothing pisses me off more than proprietary annuities. Garbage way of keeping assets at your firm.

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"But it's such a great product and helps a lot of people!!"

- Management after telling me to not do so much advisory business

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I think the days of proprietary products being tied to distribution are going to be numbered. Can’t act in best interest and sell proprietary products. Doesn’t even matter if the product fits. The conflict is too great.

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But advisors who can only sell propriety products are beginning to see their business shrink. Clients have access to so much info nowadays they are doing their homework know what they want and what to expect. It’s a huge competitive disadvantage for some advisors whose company restricts them like that

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Our annuities are great and anyone who doesn't have one or doesn't want one is missing out!

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I would leave any firm offering any sort of proprietary product. Even in house money management is a conflict.

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If I sell a VA, all I have to do is tell compliance the client wants guaranteed income for life and therefore is in their best interest. Unless advisors are capped on how much they can sell per year the cycle will continue.

My previous firm is proprietary annuities(very vanilla though), paid more on proprietary funds, and 80%+ prop funds in the managed program. I'm very curious to see what they do moving forward

Related Posts

What do your teams do to keep it light in the audit room so you aren't just sitting in silence all day?

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I bring to the table over 20 plus years of extensive experience in steering Customer Relationship Management and Operations, Process Initiatives, Business Process Transformation & Controls, Process Improvements, Business Continuity Planning & Strategic Business Operations. I have innate sense of task prioritization, managerial aptitude and result oriented attitude towards accelerating organizational growth and that too in a high pressured, time bound and competitive environment.
Pls guide

Unable to apply to any role at Accenture. It says it already has my resume.

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Hey guys,

Wanted to check how is Angular going on in the market? Since I can see most of the React openings?

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How should I negotiate an offer for more money in an entry level paralegal job ?

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Considering moving to SF 😊 what website/app would you recommend to find apt rental virtually?

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From where do the EY HRs procure the resumes?

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Is it common for potential employers to ask to see your current compensation package with proof? Would you do it if asked?

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Does your firm provide an automatic raise each year of practice? Would you request for a raise if you have done exceptionally well and are paid below industry standards or is it just not the year to do so due to the pandemic?

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What's the expected job role for manager 1 in pwc ac Kolkata in advisory los . Is it equivalent to team lead or anything else ?

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Do Luxoft have offices in Noida. HR told me your work location will be remote india. Does it mean work from home.?

Hi fishes,
Has Any one have joined recently or anyone about to join with in this month. Kindly acknowledge. I have some queries related to joining.

Thanks

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How’s the Montreal office? Visiting tomorrow from NYC. I’m in Brain, DM if you want to holler :)

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Agency IT recruiter-
This market is BANANAS. How are you finding most of your placements?
LinkedIn Recruiter was my go-to but lately the response rate has been low. What board (or source) has been the most lucrative for you in this market?

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Hi 🐠, need your help/suggestions. We moved into our new townhouse 4 months ago and I’ve been noticing a car parked outside with 3-4 (young folks) people sitting in it for past 3-4 weeks. Today they took it to another level when someone from that group was peeing right in front of my backyard. When I was about to talk to them they left in a hurry. What should be doing? I’m first time homeowner so want to make sure I’m not doing anything wrong

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Hi Fishes,

Please help me choose one.

BCG - 16.5L (office based)
Nivoda - 21L ( remote) 5.5 work days a week.
Propertyguru - 20L (remote)



Shall I take a Big firm or choose mid size or startup considering the situation of recsission.
I'm new so don't know what to do.

Any advice would be helpful.

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Hello Fishes, I'm looking for a job change. I'm PMO Analyst with 3 years of experience. I have Google project management, GCP PCA and GCP ACE certifications. I'm also working on getting CAPM certification.

Do comment if you have a opening in your organization.

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anyone in agency life who made the decision to be a floater? thinking about asking but don’t wanna seem like i can’t play nice with others. i legit just like the rhythm of mixing things up and working with different people.

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Additional Posts in Financial Advisors

Married peeps, joint or separate checking accounts?

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I feel like I can't do anything efficiently. My managers give me really simple tasks and it takes me 16+ hours to complete them. No one has made a comment but I feel SO SLOW. Any advice?

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Has anybody come up with a way to purge the words “like”and “you know” out of somebody’s speech patterns? I don’t want to be insulting, I truly want to help. It’s not a young person either

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Edward Jones advisor with 30 million AUM and roughly 250k gross production. Been there for almost 4 years. Got an offer at Merrill Lynch to take over a 100 million dollar retirement transition plan in 5 years, or to join a 5 person Merrill Lynch team that manages a lot.

Pros to EJ: Have my own office, a year or two away from partnership, great office setting and client satisfaction.

Pros to Merrill: Bump in compensation, additional tools and services w banking, ability to take over assets.

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Would you say that you're genuinely liked by the majority of people at your office? I just don't really seem to vibe with many people...

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What benefits, perks, and other work life balance things would you like your firm to have in an ideal world?

I hate making mistakes and I'm so hard on myself and I can't stop crying about this thing that doesn't even matter!! I know we're not saving lives here so why does it feel like the end of the world

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What's the most effective way for a small RIA to recruit FAs who have a few years experience, want to break away from large/corporate firms? I'm a $70M fee-only (commissions for insurance) independent RIA with a generous comp schedule that enables FAs to own their own book while they grow. As the owner, my focus is to help FAs succeed; as a firm, our focus is on client service and helping them succeed. I can afford a small salary, but not benefits. I'm especially interested in female FAs.

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How do you separate work from your personal life? I struggle with being the perfect advisor to my clients and then having time to enjoy my life.

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Taking book recommendations :) What have you all been reading?

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Ever been so overwhelmed by the things you need to do that you end up doing none of it? And stress yourself out even more smh

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Does anyone use a digital notebook and/or digital pen? What is the best solution? Like to take notes by hand but don’t like retyping or referring back to all the time.

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Any tips for an introvert at a networking event? Find it hard to talk to people and keep a conversation going

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Has anyone heard of, or tried using, the Paladin Registry?

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Can some of you experienced folk recommend some good books for rookies? What are your favorites for investment strategies, marketing, selling, etc.?

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Do you make your bed before work? What’s your morning routine?

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Currently w TD Ameritrade Institutional (RIA) - manage some Brokeragelink accts @Fidelity as 3rd party. They now require you to sign a form stating you will not be compensated. Questions in comments.

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Has anyone ever thought of retiring early in a low cost country? Like Costa Rica or India

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If you were in a position to relocate, would you move to a locale where Baby Boomers are moving/retiring in a disproportionate #, w/the expectation your career success rate would be higher?

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Need some advice bc my work and personal life intertwine. Too much sometimes. Father is my boss. Wife is adamant that when folks come over they take off their shoes. Tried to ask my family...cont

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