Teacher Retiring After 32 Years

[marketing]

Client has an advisor, what are the best annuities I can use for this client for an amount in the range of $400,000. I would like to lure this one away from the advisor. She's thinking of useing an IRA.

 

[Indy007]

Sorry, I don't think anyone can make a suggestion based off of that. Can you provide more info? Net worth, amount of liquid assets, types of accounts owned, risk tolerance, goals for that money, age, etc? The more info the better.

I have certain annuities I use for certain situations, it all depends on their needs & goals.

 

[Norwayguy]

Sorry, I don't think anyone can make a suggestion based off of that. Can you provide more info? Net worth, amount of liquid assets, types of accounts owned, risk tolerance, goals for that money, age, etc? The more info the better.

I have certain annuities I use for certain situations, it all depends on their needs & goals.

X2 here..... Also the fact you mention the other advisor will be using an IRA shows a real lack of understanding. If these funds are qualified what other vehicle could it be moved to except if it is in an existing 403b plan AND you have a good competing product approved in that 403b plan.

 

[sman]

Client has an advisor, what are the best annuities I can use for this client for an amount in the range of $400,000. I would like to lure this one away from the advisor. She's thinking of useing an IRA.

Don't take this the wrong way, but the fact that you made the following comment:

She's thinking of useing an IRA

tells me you may be in over your head. An IRA is just a classification. It can be funded in many ways. Stocks, bonds (not municipal), mutual funds, ETF's, CD, annuity, etc.

Additionally, as others have stated, we don't have near enough information to advise as to which annuity may be best. Or even if an annuity would be best. My suggestion is either get some help with a more experienced advisor (and not one who believes in a one size fits all approach) or walk away. Investing someone's life savings isn't something to be entered into lightly.

 

[scagnt83]

Don't take this the wrong way, but the fact that you made the following comment:

She's thinking of useing an IRA

tells me you may be in over your head.

X2!

You need to bring someone in who knows what they are doing. There are 101 ways you can screw up this poor ladies life savings. Bring in an experienced agent and try to learn from them.

 

[Norwayguy]

X2!

You need to bring someone in who knows what they are doing. There are 101 ways you can screw up this poor ladies life savings. Bring in an experienced agent and try to learn from them.

Not to mention he said the lady has an advisor already. An experienced advisor will be able to block your attempt at stealing this case you will benefit by having an experienced mentor work with you on this case.

 

[Larry Tew]

An IRA is a tax treatment, not a product. Not to pile on, but get some help before you inadvertently mess something up.

 

[integrate]

What state are you in? Is this 400K in a fund currently? A MF or a 403(b) fixed account? Or is this going to be new money (some school system employees get a deferred pension or pension buyout)?
Definitely need a little more info because you don't stand a chance with the minimal knowledge you know now

 

[marketing]

Thanks, guys. we definitely put this to use

 

[Norwayguy]

Thanks, guys. we definitely put this to use

Anyone else think this response coupled with the original post is plain scary?