Where do you guys go with new money under an advisory minimum for a year or so? Multiple clients saving 5-10k per month. A sh., C sh., ETF’s, other? Believe it or not, I don’t push WL insurance to all

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Posting as :
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👆LOL👆

Sounds like the strategy of the guy from the networking breakfast, who has a cousin with a subscription to Money Magazine, is debating and wants my input on.

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@mcadam I am a CFP and not a huge fan of WL, or IUL for that matter. But 5%-6% tax free for high income earners is appealing to high earners, many of whom are not on this thread....And if SHTF and client passes, his wife his happy his advisor got him WL and not passive index ETF's like some people on pitch. (Remember: if you are reading this thread, you will, at some point, die. I guarantee it)
Also, when rates rise over the next decade, it will be hard to justify an extremely low cap rate on the IUL, if the cap rate doesn't change with interest rates.
There is no silver bullet. There is no bad product. What is in your tool box? If you need a hammer but pick up a skill saw, it doesn't work. Every tool has its place. There are only advisors who think their tool (WL, indexes, whatever) fits every need. Those people give this business a bad rep.

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UITs are an option.

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👆ditto

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Also, who, WHO uses whole life in this day and age?
CDs are probably best.

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Suck it up and buy a no-load fund, mark unsolicited. Switch to advisory when the minimum is met with subsequent deposits. Explain the costs and potential capital gains upfront. Client will appreciate it.
How much money are you going to make on an account that is below the advisory minimum anyway?

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@McAdam, what exactly do you know about WL? If you knew what most savvy individuals know, you would probably have lots of WL yourself.

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If it's needed for use in under 2 years, CDs.

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Invesco C share, no CDSC and they still get market participation

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I would advise putting him in a C share. Assuming his Time horizon is greater than 2+ yrs... The advisory fee plus the mutual fund expenses are going to be very similar to when I see you share would cost. After the CDSC charge expires you and slowly transition those dollars into the advisory account.

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Nope. But after the brainwashing they sure seem to think so.

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Betterment for Advisors

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Long time horizon, non-qual money, advisory minimum 50k. Sorry, should’ve been a bit clearer.

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Cash until minimum, then open advisory account. Could also do naked VA for tax-deferral. Pru and Jackson have decent options in that space.

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Advisory min$2,500.00... 3.5% fee. Allocate into individual stocks... watch closely cap downside at 7%... take profits at 20%. When markets in correction go to cash. Link personal bank send money when needed.

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Our managed accounts at 25k to open

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DCA into C share w no CDSC until mins met

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NYLife I know that's your bread and butter, but are there real benefits to WL in terms of investment value as compared to IULs? (Genuine question)

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Your advisory minimum is $25k. You can have the account traded at $20k.

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Find a new firm. Our minimum is 1k at 1.25% fee. That is a total of 12.50 to you a year, but it’s the best for the client!! Hell, charge 1.75%. Put them in the same model as someone with the same risk at 1MM of assets. Whether you like it or not (not you so much but your firm) you are a fiduciary and should act appropriate. So I would use an ETF model.

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