LauderdaleBAUS
Expert
- 30
Anyone here ever reported an agent? I am pretty close…
Was doing a rollover for 80k from ING, Quintaflex, guy gets 1% fixed. 50 year old male. Retiring in 10 years from the school system. Anyways, guy makes 1% fixed, nothing more, nothing less. He has switched with the same agent like 3 times, from Valic (which had higher fixed rates) and such. Guy had like 6 statements, so I combined them all for a transfer to an FIA, that has caps at 24% for Month to Month S&P 500, have had a few clients come back with their 12 month performance at 19% the past 12 months. Most were in the 12-13% range. Anyways, so we are doing the rollover. GUy is happy. I go see him 2-3 more times, we call ING, they say its going through, no trouble.
4 weeks later, 5k of the 80k came in, I call the guy to see if ING has called him, he says he decided to cancel the transfer because his agent told him that even though his statement said he is only making 1% fixed, that he is doing much better than that and to not worry about what the statement says and that he assures he is doing better than what it says…
Whats even worse is the client BELIEVED HIM! I told the guy, listen, your account says EXACTLY what your balance is, and from there we can easily calculate performance…he then told me that do not tell him what it says, he knows what it says..LOL
So wtf do I do? This guy is almost a nemesis, he has told many of his former clients that if they open an account with him when they are starting DROP, that they HAVE TO MOVE THEIR DROP MONEY INTO THE ACCOUNT. I am getting tired of this crap. He's making honest agents look bad. What would you do?
Was doing a rollover for 80k from ING, Quintaflex, guy gets 1% fixed. 50 year old male. Retiring in 10 years from the school system. Anyways, guy makes 1% fixed, nothing more, nothing less. He has switched with the same agent like 3 times, from Valic (which had higher fixed rates) and such. Guy had like 6 statements, so I combined them all for a transfer to an FIA, that has caps at 24% for Month to Month S&P 500, have had a few clients come back with their 12 month performance at 19% the past 12 months. Most were in the 12-13% range. Anyways, so we are doing the rollover. GUy is happy. I go see him 2-3 more times, we call ING, they say its going through, no trouble.
4 weeks later, 5k of the 80k came in, I call the guy to see if ING has called him, he says he decided to cancel the transfer because his agent told him that even though his statement said he is only making 1% fixed, that he is doing much better than that and to not worry about what the statement says and that he assures he is doing better than what it says…
Whats even worse is the client BELIEVED HIM! I told the guy, listen, your account says EXACTLY what your balance is, and from there we can easily calculate performance…he then told me that do not tell him what it says, he knows what it says..LOL
So wtf do I do? This guy is almost a nemesis, he has told many of his former clients that if they open an account with him when they are starting DROP, that they HAVE TO MOVE THEIR DROP MONEY INTO THE ACCOUNT. I am getting tired of this crap. He's making honest agents look bad. What would you do?
