Financial Planning or Product Pitch? How to Spot the Difference!

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Well, we've all gotten those seminar mailers.

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You probably got them, too.

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I got one recently.

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I want to talk about this week.

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Is it financial planning or a product pitch?

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How can you tell the difference?

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Welcome to something more with Chris Boyd.

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Chris Boyd is a certified financial planner, practitioner

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and senior vice president, financial advisor at Wealth

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Enhancement Group, one of the nation's largest registered

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investment advisors.

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We call it something more because we'd like

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to talk not only about those important dollar

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and cents issues, but also the quality of

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life issues that make the money matters matter.

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Here he is, your fulfillment facilitator, your partner

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in prosperity, advising clients on Cape Cod and

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across the country.

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Here's your host, Jay Christopher Boyd.

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Welcome, everybody.

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I'm Chris Boyd, and I'm here with Russ

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Ball and Jeff Perry.

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And we are all of the AMR team

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at Wealth Enhancement.

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Glad to have you with us.

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And I thought we would do an episode

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for a change on these webinar seminar invitations

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that I got one in the mail.

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And as I was reviewing it, I was

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thinking, I don't know, you know, this is

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not really financial planning.

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You know, it's funny.

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We've done these kind of events, a dinner

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event.

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Sure.

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And, you know, I think the challenges and

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sometimes people get these and they really do

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wonder, am I going to be sold products?

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Am I going to?

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Is there a big pitch?

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Is it a heavy sale?

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Like, are they going to twist my arm?

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Right.

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Is there a timeshare involved?

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Yeah, kind of.

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Right.

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You know, feels like that.

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So we we do when we do this

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kind of stuff.

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We're trying to educate people and draw them

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into being interested in whether we could be

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a resource to them.

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OK.

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However, I came across this this recent flyer,

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and it talked about talking about some recent

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events and doing some planning, financial planning.

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So I looked at the advisor who was

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giving the financial planning seminar.

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Is that the right word?

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Well, I noticed he's not a financial planner.

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He's talking about financial planning, but he's an

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insurance agent.

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Not the first time we saw this.

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So now that's not to say that someone

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who is an insurance agent couldn't possibly actually

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do a financial plan.

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But I'd say that's a red flag, right?

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You know, maybe it's not someone who is

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truly a fiduciary doing planning as the basis

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of, you know, what they might recommend.

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So I went through the.

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The materials and started looking at they had

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a variety of bullets, free dinner, I saw

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that.

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Yeah.

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Yeah.

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Everyone likes free dinner.

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Is it free?

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Yeah.

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Well, anyway.

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Yeah.

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But but it really comes down to there

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were a couple of things.

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And I thought not everything were mentioned in

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the the the series of discussions would be.

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Suggest an annuity sale, but there were a

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few things that caught my eye as indicating

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this is probably going to result in an

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annuity recommendation.

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Yeah.

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So on the one hand, talking about taxes,

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talking about the big, beautiful bill.

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Well, that's probably some good information that's relevant

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to understand.

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You know what's changed?

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What are the details?

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That's probably useful, right?

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Mm hmm.

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Might apply to people talking about strategies like

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Roth conversions.

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These are these are helpful.

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These are they could be good at times.

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These can be good techniques and tactics and

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the the way we might want to try

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to navigate our personal tax forecast.

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Right.

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One of the topics was about market volatility.

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And that catches my eye because I know

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one of the hooks that often is used

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to talk about the purchase of a annuity

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with a long surrender charge cost.

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Can be stop the losses, have market access,

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be protected without downside risk.

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Now, what do you think?

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Sounds good to be true.

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It sounds too good to be true.

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And it is now it's not to say

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that there aren't products that can provide us

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downside risk mitigation, but it comes at a

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cost.

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We don't get full participation in the upside

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or there can be high internal costs in

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a product.

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Right.

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So there can be a variety of ways.

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But this often is the hook for maybe

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an equity indexed annuity or some kind of

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variable annuity with lifetime guarantees that are an

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income stream.

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But I have to stay in the product.

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We had an individual in here the other

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day had a variable annuity, bought it after

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the market downturn.

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Reasonable, you know, of 2008.

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Right.

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And understandable, you know, after a big market

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disruption, this might have more appeal to you.

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You know, fortunately, in this instance, it wasn't

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a big part of their wealth.

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So it was a compliment to other things

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they did.

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But if you're in a position where you're

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drawn into this kind of thing and you

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say, oh, I don't want that, you can

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have a variable annuity that has four percent

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embedded costs annually as a drain on performance.

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No wonder the guaranteed cost or performance is

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going to be better.

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You know, it has this artificial account that

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will grow by a certain percentage and then

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you can take five percent or something, some

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percentage off of that for life.

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Well, you're paying embedded expenses as part of

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how you get that feature, which is going

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to be a guaranteed income.

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Right.

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And, you know, you end up in that

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product for 30 years, paying four percent per

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year.

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Or you pay a big fee to get

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out of it.

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Or you pay a big fee to get

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out of it oftentimes.

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So whether it's a very and a variable

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product, one that's sold by prospectus, they at

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least disclose to me how much am I

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paying for these various features?

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And then annuity, it's hard to find, but

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yeah, we can find it.

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But it's hard to legally disclose it.

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But you're probably not going to bury it

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in a tissue paper.

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Yeah.

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Right.

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And then for the equity indexed annuity, a

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fixed product, an insurance product not sold by

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prospectus, not one sold through a broker dealer

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or something that has a, you know, any

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sorry.

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FINRA showing my age FINRA oversight or SEC

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oversight.

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It it's not disclosed that we don't know

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what those costs are, as I always say,

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if if if one hand, they're disclosing it

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and it's pretty high cost and the other

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hand, they're not disclosing it.

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Do you think it's going to be higher

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or lower?

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You know, I think it's going to be

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higher embedded costs for sure.

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So anyway, that was one caught my eye.

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Watch out for things like stock market losses

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or market, you know, eliminate market risk or

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something to that effect.

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That's a that's a indication.

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Yeah, another loss is, you know, another topic

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was about Social Security timing, and that's a

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good planning topic.

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I think one that we all have to

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give thought to and strategize around.

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But then there was retirement income.

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There it is.

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Yeah.

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You want to take that?

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No.

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All these things do go together.

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I can when reading the bullet points on

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the invitation to me, this just looks like

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a cut and paste from his from the

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presentation plan.

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This is it all.

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It's all going to lead to if you're

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worried about these things and you want some

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guaranteed income and you don't want to worry

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about market volatility, so forth.

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Yeah.

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And if Social Security is not going to

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be enough, it might even go away and

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fear based stuff or fear based.

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That's a good point.

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I hadn't even thought about that as the

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hook there.

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Yeah.

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Well, I said when to take it.

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Is it safe?

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Will it be there for your future?

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Yeah.

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You don't have to worry about it because

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I have something for you.

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And that's a guaranteed stream of income for

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the rest of your life.

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You don't have to worry about it.

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The market can do whatever it wants.

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Social Security can do whatever it wants.

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Oh, that sounds good.

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And we have a we have a plan

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for you.

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And this is not to say that an

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annuity can't be a useful tool as part

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of your use from time, if it's appropriate.

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Yeah.

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So I don't want to be like Fisher

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saying never, ever, you know, but I kind

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of feel like Fisher a little bit more.

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You know, it's something to be very guarded

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about because there are these embedded costs and

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there's a lot of abuse of this.

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So how do you know people have gotten

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in?

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I mean, people have gotten in trouble.

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These these types of companies, I don't know

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if this one has, but.

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Companies like this have been in the news

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from time to time where they've been reprimanded

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for like pushing that line too far to

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being a financial advisor.

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So how do you know if the the

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person you're going to work with is is

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reputable, has at least has a good reputation,

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has has been how they've been dealt with

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in the past, have have other clients, have

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other people complained about whether or not they've

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they're doing things ethically and above board.

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So there's no perfect solution to identify that.

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But one possibility is this.

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You can look up something called broker check.

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Now, broker check is a tool put out

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through FINRA for people who are registered as

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either securities licenses or even I think you

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can get someone who has an investment advisory

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license to show up under broker check.

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But if not, there's another tool.

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What is that one called?

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Advisor.

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Advisor.

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Info.

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Advisor.

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Info dot SEC dot gov.

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00:11:07,680 --> 00:11:08,160
Right.

280
00:11:08,560 --> 00:11:08,900
OK.

281
00:11:09,300 --> 00:11:12,380
And that can give you some insight as

282
00:11:12,380 --> 00:11:17,500
to the the the veracity or the the

283
00:11:17,500 --> 00:11:19,980
quality of the if there's complaints, at least

284
00:11:19,980 --> 00:11:22,980
doesn't it doesn't guarantee that the person is

285
00:11:22,980 --> 00:11:23,340
ethical.

286
00:11:23,920 --> 00:11:26,520
It just indicates whether they've had complaints.

287
00:11:26,960 --> 00:11:27,200
Right.

288
00:11:27,980 --> 00:11:29,760
So that'd be step one.

289
00:11:29,800 --> 00:11:32,580
Look for something that indicates whether there's a

290
00:11:32,580 --> 00:11:35,520
good resource to say, is this person had

291
00:11:35,520 --> 00:11:36,560
past problems?

292
00:11:37,780 --> 00:11:39,100
Now, that's one.

293
00:11:39,300 --> 00:11:41,520
Now, number two, you could.

294
00:11:42,000 --> 00:11:44,820
And of course, you know, not not everything

295
00:11:44,820 --> 00:11:47,580
is definitive, but it's a red flag, you

296
00:11:47,580 --> 00:11:47,960
know what I mean?

297
00:11:48,260 --> 00:11:50,060
If just because someone had a complaint could

298
00:11:50,060 --> 00:11:53,580
was irrational and it was not, you know,

299
00:11:53,620 --> 00:11:55,520
a reasonable complaint or anything.

300
00:11:55,820 --> 00:11:58,160
But but generally, I think that's a.

301
00:11:59,360 --> 00:12:01,060
It would be a concern to me if

302
00:12:01,060 --> 00:12:02,560
I'm dealing with someone who's had these kind

303
00:12:02,560 --> 00:12:03,520
of issues in the past.

304
00:12:03,620 --> 00:12:03,920
Right.

305
00:12:04,400 --> 00:12:07,940
So I'd be reluctant to or I'd be

306
00:12:07,940 --> 00:12:08,960
at least on guard.

307
00:12:09,220 --> 00:12:09,440
Right.

308
00:12:09,620 --> 00:12:11,960
Why pick someone who's had these kind of

309
00:12:11,960 --> 00:12:14,360
issues if you can avoid it?

310
00:12:14,880 --> 00:12:17,280
So the other thing I would look at

311
00:12:17,280 --> 00:12:24,080
is maybe their CFP CFP experience, their credentials.

312
00:12:24,840 --> 00:12:25,980
Do they have a CFP?

313
00:12:26,380 --> 00:12:28,760
Are they a CHFC if they're coming out

314
00:12:28,760 --> 00:12:29,960
of the insurance industry?

315
00:12:30,440 --> 00:12:32,380
Are they if they're coming out of a

316
00:12:32,380 --> 00:12:33,220
CPA world?

317
00:12:33,220 --> 00:12:35,160
Do they have the PFS?

318
00:12:35,520 --> 00:12:39,660
These are quality credentials that take time to

319
00:12:39,660 --> 00:12:43,760
obtain and do indicate an inclination to do

320
00:12:43,760 --> 00:12:48,420
financial planning as the way they approach.

321
00:12:48,800 --> 00:12:50,560
It's not an absolute, but again, it's at

322
00:12:50,560 --> 00:12:51,040
least to help.

323
00:12:51,400 --> 00:12:55,060
And if they're a CFP, for example, do

324
00:12:55,060 --> 00:12:57,040
they have a blemish that the CFP board

325
00:12:57,040 --> 00:12:58,520
has identified?

326
00:12:58,940 --> 00:13:02,240
You know, an issue, any complaint of something

327
00:13:02,240 --> 00:13:02,780
like that.

328
00:13:04,120 --> 00:13:05,760
You know, Jeff, you talk about some things

329
00:13:05,760 --> 00:13:08,360
to ask your advisor all the time.

330
00:13:08,700 --> 00:13:08,880
Yeah.

331
00:13:09,160 --> 00:13:09,640
Three things.

332
00:13:09,880 --> 00:13:10,500
Three things.

333
00:13:10,600 --> 00:13:12,220
And if you happen to go to a

334
00:13:12,220 --> 00:13:14,560
dinner like this because you like pork tenderloin,

335
00:13:14,660 --> 00:13:17,560
for example, and you want the free meal,

336
00:13:17,940 --> 00:13:20,380
maybe for your entertainment, if nothing else, raise

337
00:13:20,380 --> 00:13:23,220
your hand and say, I have three questions.

338
00:13:24,280 --> 00:13:26,740
Number one, are you a fiduciary, which means

339
00:13:26,740 --> 00:13:29,980
an ethical and legal standard that you have

340
00:13:29,980 --> 00:13:33,000
to, meaning the person, the advisor or this

341
00:13:33,000 --> 00:13:36,300
person, the salesman, they have to act in

342
00:13:36,300 --> 00:13:39,340
your best interest, not just what is suitable,

343
00:13:39,660 --> 00:13:41,420
not just it's not horrible.

344
00:13:41,980 --> 00:13:45,180
They have to know you, get to know

345
00:13:45,180 --> 00:13:46,360
you, and they have to act in your

346
00:13:46,360 --> 00:13:46,940
best interest.

347
00:13:47,100 --> 00:13:48,180
So are you a fiduciary?

348
00:13:50,080 --> 00:13:51,800
This one we're talking about, we're not going

349
00:13:51,800 --> 00:13:54,160
to give a name, but the answer is

350
00:13:54,160 --> 00:13:55,920
no, probably.

351
00:13:56,500 --> 00:13:56,600
Right.

352
00:13:56,600 --> 00:13:58,660
They might dance around it and say, no,

353
00:13:58,700 --> 00:14:00,220
I have this license over here or this,

354
00:14:00,340 --> 00:14:00,460
that.

355
00:14:00,800 --> 00:14:02,240
But if they don't give you a straight

356
00:14:02,240 --> 00:14:03,460
answer, are you a fiduciary?

357
00:14:03,640 --> 00:14:04,680
I would be skeptical.

358
00:14:05,440 --> 00:14:07,700
Number two, which is really going to apply

359
00:14:07,700 --> 00:14:08,100
here.

360
00:14:08,720 --> 00:14:12,520
How are you compensated for this financial plan,

361
00:14:12,600 --> 00:14:14,160
for this advice, for this product?

362
00:14:14,720 --> 00:14:16,180
And if they can't, I mean, when we

363
00:14:16,180 --> 00:14:19,160
get that question, we tell people during the

364
00:14:19,160 --> 00:14:22,400
introductory process what our fee is quickly.

365
00:14:22,400 --> 00:14:25,680
But if somebody can't answer you in 30

366
00:14:25,680 --> 00:14:28,820
seconds or they answer you and you have

367
00:14:28,820 --> 00:14:29,980
no idea what they said.

368
00:14:30,540 --> 00:14:30,680
Yeah.

369
00:14:31,040 --> 00:14:31,320
Yeah.

370
00:14:31,380 --> 00:14:33,600
I mean, that's really raise a red flag.

371
00:14:33,680 --> 00:14:35,260
I mean, someone's likely to answer that saying,

372
00:14:35,380 --> 00:14:36,760
oh, I get paid a commission if if

373
00:14:36,760 --> 00:14:38,480
you buy a product, that's fine.

374
00:14:38,560 --> 00:14:41,500
How much is your how does that?

375
00:14:41,560 --> 00:14:42,560
What's that translate to?

376
00:14:43,260 --> 00:14:46,080
Is sometimes helpful to understand because that's right.

377
00:14:46,900 --> 00:14:49,660
How long a term product can affect how

378
00:14:49,660 --> 00:14:50,940
much they get compensated.

379
00:14:50,940 --> 00:14:51,500
That's right.

380
00:14:51,660 --> 00:14:52,640
The details on it.

381
00:14:53,280 --> 00:14:55,480
Well, just make me think that often, you

382
00:14:55,480 --> 00:14:59,100
know, with these commission based products, it's like

383
00:14:59,100 --> 00:15:01,420
especially if they're marketing themselves as a financial

384
00:15:01,420 --> 00:15:03,020
planner, you think, OK, well, that person is

385
00:15:03,020 --> 00:15:04,140
going to be my point of contact.

386
00:15:04,260 --> 00:15:05,300
I'm going to be talking to this person.

387
00:15:05,340 --> 00:15:07,000
We're going to be reviewing this a lot

388
00:15:07,000 --> 00:15:08,460
of time with these commission based products.

389
00:15:08,460 --> 00:15:09,920
It's like they sell a product.

390
00:15:10,360 --> 00:15:11,120
And that's kind of it.

391
00:15:11,380 --> 00:15:13,320
You know, there's not a lot of there's

392
00:15:13,320 --> 00:15:16,600
not any plan for additional interaction necessarily.

393
00:15:17,060 --> 00:15:18,360
You know, if there's an issue, maybe call

394
00:15:18,360 --> 00:15:19,780
them, but maybe we call them and they're

395
00:15:19,780 --> 00:15:20,760
working for a different company.

396
00:15:21,100 --> 00:15:22,120
So that happens a lot.

397
00:15:22,220 --> 00:15:23,220
I mean, we see that a lot, too.

398
00:15:23,400 --> 00:15:25,600
A lot of turnover in this particular industry.

399
00:15:26,240 --> 00:15:28,520
And so are you a fiduciary?

400
00:15:28,620 --> 00:15:29,600
How are you compensated?

401
00:15:30,100 --> 00:15:31,840
And where are my funds held?

402
00:15:32,400 --> 00:15:33,960
Yeah, the custodian.

403
00:15:34,340 --> 00:15:35,700
And I'm going to add in just a

404
00:15:35,700 --> 00:15:36,960
couple of quick commentaries.

405
00:15:37,060 --> 00:15:38,720
If you're looking for a financial plan.

406
00:15:39,820 --> 00:15:42,060
Work with a team that has a CFP

407
00:15:42,060 --> 00:15:43,700
at the top of the totem pole.

408
00:15:43,920 --> 00:15:45,280
You know, everybody in the office is in

409
00:15:45,280 --> 00:15:47,560
a CFP in most most offices.

410
00:15:48,000 --> 00:15:50,960
But I know you are, Chris, and I.

411
00:15:53,020 --> 00:15:55,460
So work, work with people who have these

412
00:15:55,460 --> 00:15:58,960
credentials, they're not only a demonstration of competence

413
00:15:58,960 --> 00:16:02,580
and experience, but there's also standards that they

414
00:16:02,580 --> 00:16:02,860
are.

415
00:16:04,080 --> 00:16:07,980
Yeah, there's ethical standards, there's experience, there's education,

416
00:16:08,140 --> 00:16:10,220
ongoing education and so forth.

417
00:16:10,820 --> 00:16:11,480
Yeah, absolutely.

418
00:16:12,020 --> 00:16:14,280
And just just go into these things.

419
00:16:14,460 --> 00:16:16,200
I hate to say it because but it's

420
00:16:16,200 --> 00:16:17,080
the whole world now.

421
00:16:17,080 --> 00:16:19,400
Go into these things skeptical.

422
00:16:20,180 --> 00:16:20,300
Yeah.

423
00:16:20,360 --> 00:16:22,020
And I think in this kind of scenario

424
00:16:22,020 --> 00:16:23,540
where they're talking about a financial plan, I

425
00:16:23,540 --> 00:16:26,040
think it's reasonable to say, will you provide

426
00:16:26,040 --> 00:16:29,160
me of an actual comprehensive financial plan?

427
00:16:30,220 --> 00:16:31,380
What does that look like?

428
00:16:31,440 --> 00:16:32,320
You know, that kind of thing.

429
00:16:32,820 --> 00:16:34,200
Elaborate on what that is.

430
00:16:34,400 --> 00:16:34,560
You know.

431
00:16:34,620 --> 00:16:34,800
Yeah.

432
00:16:35,180 --> 00:16:37,780
But the problem with that, the problem with

433
00:16:37,780 --> 00:16:40,680
that is unless someone is a client of

434
00:16:40,680 --> 00:16:43,620
a good financial planner, you might not know

435
00:16:43,620 --> 00:16:44,240
what to look for.

436
00:16:44,240 --> 00:16:46,680
They'll give you a printout and then they'll

437
00:16:46,680 --> 00:16:47,920
call it a financial plan.

438
00:16:48,300 --> 00:16:50,060
Yeah, yeah, that's a good point.

439
00:16:50,400 --> 00:16:54,360
So it's and there's nothing wrong with pausing.

440
00:16:55,080 --> 00:16:56,600
You know, things sound really good when you

441
00:16:56,600 --> 00:16:59,520
have a professional who's, you know, done this

442
00:16:59,520 --> 00:17:01,920
a thousand times and knows all the objections

443
00:17:01,920 --> 00:17:04,160
and has all the answers memorized, all the

444
00:17:04,160 --> 00:17:05,240
questions that might come up.

445
00:17:07,079 --> 00:17:09,660
But, you know, if it sounds good, that's

446
00:17:09,660 --> 00:17:09,900
fine.

447
00:17:09,960 --> 00:17:12,200
But get some advice from a fiduciary, from

448
00:17:12,200 --> 00:17:14,800
a financial planner who doesn't have who doesn't

449
00:17:14,800 --> 00:17:16,700
have a horse in that race, so to

450
00:17:16,700 --> 00:17:17,020
speak.

451
00:17:17,339 --> 00:17:18,180
Yeah, yeah.

452
00:17:18,359 --> 00:17:19,339
And get a second opinion.

453
00:17:20,859 --> 00:17:21,920
You know, it's interesting to me.

454
00:17:22,200 --> 00:17:25,240
I was surprised to find that there's no

455
00:17:25,240 --> 00:17:28,520
insurance equivalent to the broker check.

456
00:17:29,520 --> 00:17:32,580
There's no there's like something by the National

457
00:17:32,580 --> 00:17:34,260
Association of Insurance.

458
00:17:36,360 --> 00:17:39,000
I feel it as commissioners or something, but

459
00:17:40,740 --> 00:17:43,800
there's if there's nothing that actually gives you

460
00:17:43,800 --> 00:17:46,600
useful insight as to has this person had

461
00:17:46,600 --> 00:17:47,160
complaints?

462
00:17:47,740 --> 00:17:47,900
Yeah.

463
00:17:49,040 --> 00:17:52,760
Well, doctor, doctor, insured producer or they're not,

464
00:17:52,900 --> 00:17:53,280
you know what I mean?

465
00:17:53,300 --> 00:17:54,480
That's kind of the extent.

466
00:17:54,620 --> 00:17:56,620
It just tells you how long or whatever

467
00:17:56,620 --> 00:17:58,080
and not a whole lot of insight.

468
00:17:58,680 --> 00:18:00,400
Doctors, lawyers, CFPs.

469
00:18:00,800 --> 00:18:03,220
I mean, you can check them for their

470
00:18:03,220 --> 00:18:06,300
for their complaint records and their educational history

471
00:18:06,300 --> 00:18:08,340
and how long they've been at each firm.

472
00:18:08,340 --> 00:18:09,700
You know, all the things like you were

473
00:18:09,700 --> 00:18:12,060
mentioning, Russ, you can actually see like how

474
00:18:12,060 --> 00:18:14,420
much experience does this person have and have

475
00:18:14,420 --> 00:18:15,440
they had a rule violation?

476
00:18:15,580 --> 00:18:17,600
Have they had a, you know, a misstep?

477
00:18:18,480 --> 00:18:20,500
And you should, you know, you should check

478
00:18:20,500 --> 00:18:22,240
out your doctors, lawyers and financial planners.

479
00:18:22,420 --> 00:18:25,100
But it's it's concerning when someone is pitching

480
00:18:25,100 --> 00:18:28,780
you something that it's very difficult to really

481
00:18:28,780 --> 00:18:32,100
understand what the product is in their own

482
00:18:32,100 --> 00:18:32,480
history.

483
00:18:33,900 --> 00:18:35,300
Well, I guess it's one of those instances

484
00:18:35,300 --> 00:18:39,340
buyer beware, you know, just be be alert.

485
00:18:39,680 --> 00:18:41,040
You know, you have you do have to

486
00:18:41,040 --> 00:18:42,020
be a little bit.

487
00:18:43,640 --> 00:18:45,820
Skeptical, you know, a little bit cautious.

488
00:18:46,280 --> 00:18:48,840
It is a big trust factor when you're

489
00:18:48,840 --> 00:18:50,620
working with a financial professional.

490
00:18:51,340 --> 00:18:53,260
We all recognize that.

491
00:18:53,420 --> 00:18:57,220
And, you know, if you're feeling rushed, that's

492
00:18:57,220 --> 00:18:57,940
an indication.

493
00:18:59,000 --> 00:19:01,860
If you feel like you don't fully understand

494
00:19:01,860 --> 00:19:05,060
what's being suggested, how it's being proposed as

495
00:19:05,060 --> 00:19:06,700
solutions, how it works.

496
00:19:07,480 --> 00:19:09,780
Don't just say, well, you seem like you

497
00:19:09,780 --> 00:19:11,700
understand it or I have.

498
00:19:11,980 --> 00:19:15,360
I trust you as much as we love

499
00:19:15,360 --> 00:19:15,520
it.

500
00:19:15,560 --> 00:19:17,200
We want people to trust us.

501
00:19:17,500 --> 00:19:20,500
We want them to understand what's being recommended

502
00:19:20,500 --> 00:19:21,160
and why.

503
00:19:21,760 --> 00:19:24,460
And I don't want them to feel frustrated

504
00:19:24,460 --> 00:19:28,260
if they buy something or do something, they

505
00:19:28,260 --> 00:19:29,200
go down a path.

506
00:19:29,340 --> 00:19:30,300
They don't understand.

507
00:19:30,860 --> 00:19:32,180
And then it doesn't work the way they

508
00:19:32,180 --> 00:19:32,760
expect it.

509
00:19:33,120 --> 00:19:36,020
You really want to have clear expectations.

510
00:19:36,020 --> 00:19:38,740
And that takes education and that takes time.

511
00:19:39,420 --> 00:19:42,800
So work with a professional who will care

512
00:19:42,800 --> 00:19:44,300
enough to do that process.

513
00:19:44,800 --> 00:19:48,260
Keep you educated along the way.

514
00:19:49,100 --> 00:19:51,660
So and if annuity is right for you,

515
00:19:51,900 --> 00:19:55,140
your financial advisor, who's a fiduciary, can help

516
00:19:55,140 --> 00:19:55,660
you get one.

517
00:19:55,980 --> 00:19:56,720
There you go.

518
00:19:56,840 --> 00:19:58,380
It's not only sold by salesmen.

519
00:19:59,020 --> 00:20:02,800
Yeah, there are there are actually products that

520
00:20:02,800 --> 00:20:05,840
are non-commissioned products that you can get

521
00:20:05,840 --> 00:20:06,600
access to.

522
00:20:07,140 --> 00:20:08,840
Otherwise, you know, in our case, we can

523
00:20:08,840 --> 00:20:13,300
work with your professional, your insurance professional to

524
00:20:13,300 --> 00:20:16,000
help you find the right product that fits

525
00:20:16,000 --> 00:20:17,520
into your financial plan as well.

526
00:20:18,660 --> 00:20:19,860
So in any case, all right.

527
00:20:19,900 --> 00:20:20,340
Thanks, guys.

528
00:20:20,400 --> 00:20:21,340
This was a good discussion.

529
00:20:21,440 --> 00:20:22,140
My little rant.

530
00:20:22,340 --> 00:20:24,900
If you do have questions, don't hesitate to

531
00:20:24,900 --> 00:20:25,360
reach out.

532
00:20:25,500 --> 00:20:27,900
If you're unsure whether something is a good

533
00:20:27,900 --> 00:20:30,040
fit for you, maybe whether you've been put

534
00:20:30,040 --> 00:20:31,740
in a product and you don't know quite

535
00:20:32,400 --> 00:20:34,060
work with this product, is this a good

536
00:20:34,060 --> 00:20:36,980
fit or just how it fits into the

537
00:20:36,980 --> 00:20:38,520
context of everything else?

538
00:20:39,000 --> 00:20:40,000
Do a financial plan.

539
00:20:40,260 --> 00:20:42,180
Let us help you in the context of

540
00:20:42,180 --> 00:20:43,260
how it all fits together.

541
00:20:43,660 --> 00:20:46,400
Until next time, everybody keeps driving for something

542
00:20:46,400 --> 00:20:46,680
more.

543
00:20:48,260 --> 00:20:50,040
Thank you for listening to something more with

544
00:20:50,040 --> 00:20:50,760
Chris Boyd.

545
00:20:51,040 --> 00:20:53,200
Call us for help, whether it's for financial

546
00:20:53,200 --> 00:20:57,140
planning or portfolio management insurance concerns or those

547
00:20:57,140 --> 00:20:59,180
quality of life issues that make the money

548
00:20:59,180 --> 00:21:00,280
matters matter.

549
00:21:00,280 --> 00:21:01,640
Whatever's on your mind.

550
00:21:01,760 --> 00:21:03,880
Visit us at something more with Chris Boyd

551
00:21:03,880 --> 00:21:06,600
dot com or call us toll free at

552
00:21:06,600 --> 00:21:09,740
eight six six seven seven one eight nine

553
00:21:09,740 --> 00:21:10,740
zero one.

554
00:21:10,980 --> 00:21:14,160
Or send us your questions to AMR dash

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info at Wealth Enhancement dot com.

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You're listening to something more with Chris Boyd

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Financial Talk Show Wealth Enhancement Advisory Services and

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00:21:21,340 --> 00:21:23,460
Jay Christopher Boyd provide investment advice on an

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individual basis to clients.

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Only proper advice depends on a complete analysis

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of all facts and circumstances.

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The information given on this program is general

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financial comments and cannot be relied upon as

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pertaining to your specific situation.

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Wealth Enhancement Group cannot guarantee that using the

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information from this show will generate profits or

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00:21:38,240 --> 00:21:39,360
ensure freedom from loss.

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Listeners should consult their own financial advisors or

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conduct their own due diligence before making any

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financial decisions.