Insurance Agent Forum

[Yort23]

www.guaranteedsafe.com

They have been blasting out recruiting ads on the job boards and I was thinking about joining up with them. Any news or info would be helpful??

Or if you check out their site any thoughts would be helpful too. I want to make sure I do my due diligence.

They are also connected with www.prosperitysoftware.net. It looks like a financial planning software package, called The Shield, that helps you with your presentations. Any thoughts on that too would be helpful as the guy I am meeting with recommended I look at it and that most of the AP&AG reps use it and swear by it.

Thanks for anybodys help. It is much appreciated.

[midwestbroker]

I saw an ad for them in Senior Market Advisor talking about making $17,000 in commission per sale with "an exciting NEW life concept you've been waiting for."

"Show your clients how to generate $75,000+ tax free income with found money"

That ad was in the April 2007 magazine on page 77 if anyone wanted to see it.

[senior-advisor-indiana]

It would be nice to hear from someone who has actually used the shield.

[Yort23]

Is that a good or bad recommendation? or neither?

[midwestbroker]

Neither, just letting you know what they are advertising right now. I did not know if that was the reason you were looking into them.

I too would be curious to know about them.

[Yort23]

Thanks. I had not seen that particular ad. The one I seen just mentioned $100k + per year. $17K per sale seems like a lot. Has to be more to it.

[Yort23]

Interviewed in a group setting with Tom McDermott today. It was more informational than anything. Tom shared with us that they currently have over 100 agents at his FMO and that his top guy has already done over $8M this year alone because of their new software The Shield. He said the guy makes 10% commish and that he is currently in Hawaii for a month long vacation. Tom said that the software is making millionaires out of his people and we could do the same.

They seem to focus on Senior Market pushing Annuities and Stretch IRAs?? If join he expects for reps to pay for their training, leads, software, etc... It seemed like a big sales pitch to all of us. One guy said he just interviewed with NYL and that they had software too. Tom said that not the same because they are the only ones with front-end Point-of-Sale software and all others are back-end software. I don't know...

Any thoughts? Does this seem far-fetched making that kind of doh??

Thanks for any reply.

[James]

Wow another Million! Is everyone listening, oh where do I sign up, dang another million to go with the Million from Free Insurance, at this rate I'll be a Billionaire by the end of the year!

[healthagent]

I think the correct pitch would be "there will be millions of hundredaires"

[midwestbroker]

You could also make millions selling:

Real Estate (Haven't you seen the show Million Dollar Listing?)
Cars (Go to your nearest Ferrari Dealership)
Crack (Make your own upline!)

Or you could just sit at home, turn on your computer and make $5,000 an hour! Just send $39.95 to...

[senior-advisor-indiana]

Thats does sound like a lot of money, but I'm sure its easily done. I don't know if thier software has anything to do with it. I made 10k from one annuity sale. It was a cross sell to a current client. I was told thats the easiest way to sell annuities.

$8M in 3.5 months. Thats 571K a week. He would have to work in a bank or know alot of rich people. Well then again I think the shield is for HNW prospect so 571K could be only 1 sale a week. I wonder if my local bank sells that many CD's a week. I doubt it.

[dimpil1]

I'm getting info on the company from someone who worked there so I'll report back.

[Mr. Bill]

Wow! Finally a website link! How long have we waited for that?

I love how they prominently portray "Safely Earn 8-12% Return With No Risk!!"

If that doesn't send up a red flag, I don't know what will. Sounds like someone's entered the Clown Zone.

Oh, and while you're checking them out, why don't you ask them about the taxation of the annuity upon death, eh? Betcha they won't tell you!

[Charpress]

Originally Posted by Mr. Bill

I love how they prominently portray "Safely Earn 8-12% Return With No Risk!!"

Actually, that was an accurate statement (until the last several months) if someone was indexed to the S&P 500 in a fixed index annuity. I have the statements to prove it. I have one client who had an 18% return. Will he get that this year? No. But if you average out the S&P and you have a product with 100% participation rates and reasonable caps, then 8% is most definately realistic.

It might be true this year as well if someone indexes to a European or blended fund. So, another key is using products with a variety of indexing options and annual re-indexing ability.

[Mr. Bill]

While I agree in principle, you must admit it is misleading at best.

[annuity guru]

Ok, I can answer all of your questions concerning APA. I worked there for three years, in fact, I helped start it. There are only three people there since I left in 2004 (Tom, Al, and Nancy). Their biggest producer was a big producer before the shield so to say that it made him what he is, is false, but it did help. They are a small AFMO out of Raleigh that has a ton of turnover and is interested in override more than anything else. I know a ton of producers who have left because of the lack of service. As for working with Tom, he can do no wrong (in his eyes).

[annuity guru]

Originally Posted by Mr. Bill

Wow! Finally a website link! How long have we waited for that?

I love how they prominently portray "Safely Earn 8-12% Return With No Risk!!"

If that doesn't send up a red flag, I don't know what will. Sounds like someone's entered the Clown Zone.

Oh, and while you're checking them out, why don't you ask them about the taxation of the annuity upon death, eh? Betcha they won't tell you!

This is what is getting our industry in trouble. Even if it is true, it is not guaranteed and must be worded different. Indexed Annuities are designed to allow the client the opportunity to make a better than average return between 5% - 8%. Now, he may be talking about the "equity max" which has to do with life insurance and you really have to be careful with that.

[annuity guru]

Originally Posted by Charpress

Actually, that was an accurate statement (until the last several months) if someone was indexed to the S&P 500 in a fixed index annuity. I have the statements to prove it. I have one client who had an 18% return. Will he get that this year? No. But if you average out the S&P and you have a product with 100% participation rates and reasonable caps, then 8% is most definately realistic.

It might be true this year as well if someone indexes to a European or blended fund. So, another key is using products with a variety of indexing options and annual re-indexing ability.

I know clients who made those type of returns with the monthly pt to pt like the masterdex product. Those type of strategies are designed for up swing markets; however, long term it will average out to between 5% and 8%. You know as well as I do that caps do not stay put and will fluctuate every year unless you are in a two-tiered product where they have your money locked up. Long term average is 5%-8%.

[Mr. Bill]

As I have stated on previous posts, what's happened in the past really has no bearing on what will happen in the future. Read John Bogle if you want some real hard analysis.

FIAs will always make sense to an insurance company because they will keep the money locked up. Whether or not it makes sense to the client is a whole 'nother story.

I know The Shield is being marketed through other IMO/FMOs out there.

I never believed the AP&A folks were either asset protectors or advisors, I always thought they were just another FMO that was looking to throw a whole lotta money into FIAs.

Thanks for confirming!

[bkanter]

Back to AP&P does anyone know agents who are satisfied with them. They seems to have some good marketing materials (like a short 5 minute stretch IRA video that is on a small disk that can be handed out and put on a web site as a flash presentation.)

Thanks,

Bill