Considering Foresters Equity Services for My BD

[bukev1]

Currently with a high cost BD paying about 3-4k per year. This Foresters outfit is significantly lower priced and has access to basically the same fund families. Foresters tailors more to lower end producers who focus more on insurance services and other lines.

Any other agents have experience with Foresters or any other low cost BD's that they could you recommend?

THX.

 

[ScottLFB]

The agents I have referred over there for the exact reasons you mentioned have only had positive things to say about Foresters Equity Services.

It's nice to have a B/D that is Fixed Index Annuity friendly that doesn't take a haircut off the top if their Agents do write outside of their portfolio. It's funny how B/Ds made the big stink about FIAs and now some of the Biggest are allowing their agents to sell FIAs as long as it's through them so they can make .50-1% off the top..

 

[Norwayguy]

The agents I have referred over there for the exact reasons you mentioned have only had positive things to say about Foresters Equity Services.

It's nice to have a B/D that is Fixed Index Annuity friendly that doesn't take a haircut off the top if their Agents do write outside of their portfolio. It's funny how B/Ds made the big stink about FIAs and now some of the Biggest are allowing their agents to sell FIAs as long as it's through them so they can make .50-1% off the top..

Its not funny...When FINRA said "What if these FIAs are deemed to be securities and you are not regulating your Advisors you could be found to be in the wrong was just cover for the B/Ds to stick their greedy fingers in the pie.

 

[annuityseller]

Just another reason for having a series 65 license!!!!

 

[Norwayguy]

Just another reason for having a series 65 license!!!!

You still have yours...last time we talked it sounded like it hadn't been worth it to you...I've thought about it and then I've turned around and have been selling more fixed products to small consumers where I can really help someone and earn an ok commission doing it.

 

[sPetersPi]

You still have yours...last time we talked it sounded like it hadn't been worth it to you...I've thought about it and then I've turned around and have been selling more fixed products to small consumers where I can really help someone and earn an ok commission doing it.

It can be somewhat of a juggling act for smaller companies to get a balance maximizing income while remaining... moral.

 

[Norwayguy]

It can be somewhat of a juggling act for smaller companies to get a balance maximizing income while remaining... moral.

Well the B/D I was with certainly failed on that when this FIA stuff came out they said they would entertain adding FIAs other than what was already approved if it met certain requirements in length of surrender period and a bunch of other stuff....I notice the annuities they provided from their own carrier was on the list but all but 2 failed the requirements they wanted of other carriers FIAs.