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Old 08-02-2010, 01:05 PM   #61
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And how do people get invited to these things?
I get invites in the mail. Apparently, the lists being bought are not screnned too well, since I still get them a couple times a year. Usually, I don't identify myself, I just see what's going on. However, I did go to one held by an insurance guy that said, and I quote: "Think of your whole life insurance policy cash value as the BOND portion of your portfolio"...........

He was a real "winner".........
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Old 08-02-2010, 01:07 PM   #62
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Originally Posted by FinanceDude View Post
I get invites in the mail. Apparently, the lists being bought are not screnned too well, since I still get them a couple times a year. Usually, I don't identify myself, I just see what's going on. However, I did go to one held by an insurance guy that said, and I quote: "Think of your whole life insurance policy cash value as the BOND portion of your portfolio"...........

He was a real "winner".........
My mom works for a large insurance company in the Milwaukee area that we won't name and um... that's how they sell it to everyone. Then they encourage you to borrow from it.

I'm curious what behavior gets your name/address on these lists; are there things I can avoid or embrace that will see my names start to show up?
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Old 08-02-2010, 01:08 PM   #63
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"Think of your whole life insurance policy cash value as the BOND portion of your portfolio"...
Oh boy, and someone probably fell for that...
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Old 08-02-2010, 01:59 PM   #64
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My mom works for a large insurance company in the Milwaukee area that we won't name and um... that's how they sell it to everyone. Then they encourage you to borrow from it.
Well insurance is NOT an investment, the NAIC would have a heart attack if they heard anyone say that via a complaint, and they would lose their license.

I know which company that is........your secret is safe with me..........but no, he wasn't an agent from that company..........

Quote:
I'm curious what behavior gets your name/address on these lists; are there things I can avoid or embrace that will see my names start to show up?
Mostly they are screened either by zip code or property values. I used to get more but I guess the economy is bad so maybe less freebies.........
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Old 08-02-2010, 02:04 PM   #65
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Oh boy, and someone probably fell for that...
Hopefully, noone did. After the seminar, I talked to the guy. Turns out he had only been an agent for less than a year, and this is the seminar his company GAVE HIM to put on..........
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Old 08-02-2010, 02:04 PM   #66
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I get quite a few invites and they are always for the "55+" crowd. Maybe AARP sells my name/address??
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Old 08-02-2010, 02:05 PM   #67
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I'm still getting them, which is strange because I am licensed.

Pretty nice places too, I've eaten my fair share of free steaks at Mortons and Ruth Chris.

Presentations are nothing terrible, mostly selling managed accounts from the large wirehouses.
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Old 08-02-2010, 06:51 PM   #68
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Do they check names against a list of people they know they invited?
What would be the reason? They just want to give their spiel to as many folks as possible and know that the math is on their side. If they make 1 sale per 20 invitations (or whatever the number is),they can make enough to be able to finance the next dinnerfest and keep a bit for themselves.

What other sales opportunity on a Tuesday afternoon can a fella give his best sales effort to several dozen potential prospects who believe that they have been especially selected to hear his wisdom?
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Old 08-10-2010, 03:06 PM   #69
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No free lunch.

Well I said I'd report on my experience so here goes. I did NOT expect such a long presentation (American Tax Advisors). I did not get my meal until 2.5 hours after arriving. Key observations:

1. If you're self-conscious about such things don't go in shorts and no socks (I'm not.). (I did have on a collared polo shirt instead of a tee shirt; my form of dressing up.)
2. Though a bunch of stuff was touched over the bottom line was: Fixed Indexed Annuities. (Part 1 was how much safer fixed annuities were than the stock market; Part 2 was "but hey why not capture the stock market during the "good" times!". )
3. The word "bonds" was never used. You were either 100% in the stock market (you were stupid), you were 100% in CDs (you were not very smart), or you were in annuities (you were smart).
4. I actually had a very good prime rib lunch. (If it's still lunch at 1:45 PM when you arrive at 11:15! )
5. I expected there to just be a sign up sheet for the free 1-on-1 consultation; I didn't expect them to come around to each of us with a calendar attempting to sign us up.
6. There was some "slight of hand" thing about getting LTC money by handing over a bunch of cash (not making insurance payments). You either got payments toward LTC if needed or the cash back with interest if not. I did not understand what this was but don't plan of making any direct queries (did ask for material via a form we filled out).

Most of what was presented was technically true, but there was so much that wasn't covered that would be needed to tell the complete story. So anyway now I can say "been there, done that"; but never again!

t.r.
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