Page 49 - Know-So Money, Hope-So Money, Retirement Secrets Wall Street Doesn't Want You to Know

It shouldn’t surprise you that your broker or anyone else doesn’t like
anything he views as having the possibility of taking your accounts
away from him or her. It’s like ripping the braces off his kid’s teeth (or
that’s the way he/she may see it!) I have not met many brokers who
don’t sell FIAs who actually understand them themselves, much less
have the ability to be able to fairly and accurately explain them to their

clients. In any event, who are you trying to please? You or your broker?

5. “My broker told me your commissions are too high.”

This one is truly amusing. I don’t mind telling you that my commission
for the longest term and highest paying contract I have averages about
.6% (point six percent) per year in compensation. More often than not,
the broker who is telling you not to buy because of high commissions is
in all likelihood being paid as much as 1.5%-2% per year, or two to
three times what I get paid plus two to three times that in hidden fees!*

Further, all these fees are deducted from your funds. That means
whether you make money or lose money, YOU will pay the fees! So, if
you have $100,000 in the market you paid around $30,000-$40,000 in
fees over the past 10 years!

With a Fixed Index Annuity, the commission is paid directly by the
insurance company. Not a penny comes out of your funds as long as
you abide by the terms of the contract, unless you elect additional
benefits available for a fully disclosed charge. 100% of your money is
working and growing for you. The only time you would ever be

charged is if you take your money out early, in which case the insurance

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