Retirement Annuity Funds

[Zulik]

Oh dear, there is your problem right there. Well two problems... first he appears to be a tied agent which means he needs to punt the products of the company he represents, and secondly the criteria for making it into the top 10 is based purely on sales numbers. Absolutely no measure is made of the advice given or whether it is in the client's best interests or not, it is purely the amount sold!




A good salesman will always give the buyer what they want. Mirroring their desires is a successful sales method



I answered it already.

Oh I realise now that any broker tied to a single company is a no no.

The other thing I've learnt is that products evolve and are updated constantly.

I am currently moving some 10 year dinosaurs to fresh products that offer so much more.

The new concept of rewarding clients for placing more business with a specific company is fantastic for the consumer.

I believe they will be introducing short term insurance too.

I'm sure you know the company that I'm referring to.

 

[LancelotSA]

Oh I realise now that any broker tied to a single company is a no no.

The other thing I've learnt is that products evolve and are updated constantly.

I am currently moving some 10 year dinosaurs to fresh products that offer so much more.

The new concept of rewarding clients for placing more business with a specific company is fantastic for the consumer.

I believe they will be introducing short term insurance too.

I'm sure you know the company that I'm referring to.

Hmm, indeed I do know which company you are referring to. I am sure you know what you are doing but just be very careful and always look at the worst case scenario as well as the best case that you are probably being shown. I know a client who spent very little on their credit card, had a daughter who was admitted to hospital and as a result his premiums went up by almost 30% on the anniversary! Some of these things, like hospitalisation, you have no control over.

 

[Zulik]

Hmm, indeed I do know which company you are referring to. I am sure you know what you are doing but just be very careful and always look at the worst case scenario as well as the best case that you are probably being shown. I know a client who spent very little on their credit card, had a daughter who was admitted to hospital and as a result his premiums went up by almost 30% on the anniversary! Some of these things, like hospitalisation, you have no control over.

Oh yes consideration must be based on worst case scenario.

But thanks for the advice.

I appreciate your input.

 

[ponder]

LancelotSA, which company are you with?

Answer here or PM me. My experience with RA's has been been bad while I have had excellent returns with other investments.

 

[DJ...]

LancelotSA, which company are you with?

Answer here or PM me. My experience with RA's has been been bad while I have had excellent returns with other investments.

I think you'll find Lance taking issue with affiliated planners quite often. He's not tied to any specific company which from my own experience is far better...

 

[ArtemisX]

Advice on selecting a fund?

I've recently become a contractor and now need to manage my own pension. From everything I've read I'm pretty sold on RAs, mainly because of the tax benefit (I'm taxed close to 40%). What I find most daunting is selecting a fund from the multitude of options available. What should I be looking at when I want to decide on a fund? Can I view fund performances somewhere? I would like someone that manages it for me and need to have the flexibility to halt payments if needed (I'm going to be working overseas for a while).