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OK, I have to bring up this radio spot that I hear every day.
A group of agents/RIA's advertise on my favorite radio show, and the host of my favorite show even narrates the spot from time to time. it goes something like this:
"are you contributing to a 401k that you know nothing about? Do you know how much you are paying in fees? wouldn't it be nice to have an investment approach that guaranteed that you would never lose a cent? call my guys at BLah Blah investment group. They will come to you and never charge a fee to our listeners. the best part you ask? what if I told you that you could have a guaranteed 12% gain every single year. That's the bare minimum, and in other years even more"
So basically is this legal? These guys are in my market and they are publicly advertising that they can guarantee 12%. I am not kidding here, they flat out say 12% is the bare minimum you can gain in one of their products.
Before they started saying that 12% line I was sure that they were pitching IUL, but since even the most greasy salesman would guarantee an IUL for 12% a year I can only imagine that they are pitching viaticals or something....
A group of agents/RIA's advertise on my favorite radio show, and the host of my favorite show even narrates the spot from time to time. it goes something like this:
"are you contributing to a 401k that you know nothing about? Do you know how much you are paying in fees? wouldn't it be nice to have an investment approach that guaranteed that you would never lose a cent? call my guys at BLah Blah investment group. They will come to you and never charge a fee to our listeners. the best part you ask? what if I told you that you could have a guaranteed 12% gain every single year. That's the bare minimum, and in other years even more"
So basically is this legal? These guys are in my market and they are publicly advertising that they can guarantee 12%. I am not kidding here, they flat out say 12% is the bare minimum you can gain in one of their products.
Before they started saying that 12% line I was sure that they were pitching IUL, but since even the most greasy salesman would guarantee an IUL for 12% a year I can only imagine that they are pitching viaticals or something....