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Old 01-11-2019, 01:04 PM   #41
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Not sure if 500, 502 or 505 are different enough to even waste breath on.
Its not other then he was only able to read off a script and did not even know the answer to his question
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Old 01-11-2019, 01:31 PM   #42
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About once a quarter we get an invite to these held at a very nice restaurant. I have been tempted to go, but I don't feel comfortable going to waste someone else's time (I am getting a good meal out of it so I do not see it as a waste of time). I'd probably bring my tablet and surf the web or play games during the presentation portion, totally ignore it, and try to run out as fast as possible. Also, I get enough cold calls from folks interested in separating me from my money, I do not need more coming.


Of course, as the saying goes, "never say never..."
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Old 01-11-2019, 01:38 PM   #43
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Just got back from the mailbox. DW got two free dinner offers, two different "advisor" groups. Both mailings were clearly from the same market firm.

This is out of control.
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Old 01-11-2019, 03:25 PM   #44
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Its not other then he was only able to read off a script and did not even know the answer to his question
I'm guessing that if you asked 100 forum members that the vast majority would have said 500.
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Old 01-11-2019, 03:43 PM   #45
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Never thought about going for the "free" food and treating the pitch as "entertainment" of sorts. Maybe if we are bored sometime. But like spam, direct mailing, or many other marketing techniques, it catches enough business for them to make it worth their time. Just not sure it is worth ours...but I'm actually tempted to be a plate licker now.
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Old 01-11-2019, 03:45 PM   #46
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I'm just hugely thankful that we don't get such solicitations... I'm sure that DW would want to go to get the "free" lunch or dinner.
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Old 01-11-2019, 03:51 PM   #47
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I have gone to a couple of the more expensive ones. Guilty, but good food.
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Old 01-11-2019, 03:52 PM   #48
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I'm just hugely thankful that we don't get such solicitations... I'm sure that DW would want to go to get the "free" lunch or dinner.
I get the mail every day and I throw the free dinner invites away before I come back in so she can't see them.
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Old 01-11-2019, 04:03 PM   #49
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DW and I attended our first variable annuity steak dinner a couple weeks ago. While I resisted the temptation for my invitations she approached it with the same zeal she did with timeshare hucksters in Florida. How could we lose.
Dressed to the nines she drug my ragged tail to the dinner. We soon were seated next to another couple at a table for four. Nice. However it was soon apparent that they were shills and we were the mark. They've been retired for 24 years and still attending these functions?

The presenter started with charts showing the volatility to stock market returns and how this could kill your retirement. What set off the BS detector was when the presenter asked about what advisors tell you to do when the market tanks, the carefully spotted shills ALL responded - "Stay the Course". The couple at our table then informed us they had lost fortune in 2009 and this guys father saved them from further loses.

Ouch. I bit my tongue and took copious notes through the rest of the presentation. Long story short- never lose money and capture a portion of the stock market returns. Yeah we all know those numbers. Invest a huge chunk in treasuries (or CD's) a portion in S&P 500 covered by the interest on the treasuries etc..... and you'll beat this high fee proposition.

Since they bought me a decent steak I saw no need to call them out. However when pressed DW simply told the shills at our table that I must be a financial genius because she never saw any losses in the stock market because we didn't sell at a loss. EVER. And I thought she wasn't paying attention.
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Old 01-11-2019, 04:11 PM   #50
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DW and I attended our first variable annuity steak dinner a couple weeks ago.
Have not been to a variable annuity steak dinner....They are all Fixed Index Annuity dinners.....
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Old 01-11-2019, 04:20 PM   #51
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^^^^ I'm sure that they would be glad to sell you either.... or both.
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Old 01-11-2019, 05:29 PM   #52
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...We soon were seated next to another couple at a table for four. Nice. However it was soon apparent that they were shills and we were the mark...
Interesting. Never thought they'd team up two-on-two. A few plants in the audience maybe, but your own personal shills? Wow!

I wonder how much they pay the shills. Maybe a good side hustle there...

Actually, at the two of these I've been to (one time share, one annuity sales pitch) I actually felt bad for the other couples seated near us. Especially if they ask questions. Maybe I still feel it's rude to contradict the presenter who just bought me dinner. I don't want to come out and say "this is BS" so I'll say something like "I don't really see how the numbers would work for us."

I guess they count on us marks being polite like that.
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Old 01-11-2019, 05:42 PM   #53
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Interesting. Never thought they'd team up two-on-two. A few plants in the audience maybe, but your own personal shills? Wow!

I wonder how much they pay the shills. Maybe a good side hustle there...

Actually, at the two of these I've been to (one time share, one annuity sales pitch) I actually felt bad for the other couples seated near us. Especially if they ask questions. Maybe I still feel it's rude to contradict the presenter who just bought me dinner. I don't want to come out and say "this is BS" so I'll say something like "I don't really see how the numbers would work for us."

I guess they count on us marks being polite like that.
Yeah, I concluded that we'll take this presentation under advisement. I am surprised that there has been no follow up. They dropped at least a hundred bucks on us for no good reason. It confirms that there must be a heck of a commission for the conversions.
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