Hand Money to an Annuity Specialist on the Internet? Are You Crazy!

Updated : Oct 13, 2019 in Articles

Hand Money to an Annuity Specialist on the Internet? Are You Crazy!


Dick: Hello I’m Dick. Eric; And I’m Eric and we’re the annuity guys. Dick: Eric, are folks crazy to go out on the Internet and actually hand their money to an annuity specialist? Eric: They must
be crazy for handing it through… for shoving it through the disk or drive. That’s the misnomer; people say I got this chunk of cash, you want me to give it to somebody? Dick: and folks feel like they’re doing something unusual or
something that’s crazy; but when you really start to analyze it
in terms of where that money goes and how that money is used effectively
for their purposes, it always goes to some other place. It goes to a custodian – a third
party. The advantage to working with someone on the Internet that is a true specialist is exactly
that. Eric: You can work with the best versus
just working with somebody that’s around the corner because they’re there and I think that’s the
challenge most people have to overcome. The reason this topic came up is people often cause we’ve referred to an advisor to them;
why did you not refer the local guy? Dick: Well, we love to. Eric: First of all… Dick: We’ve tried that. Eric: We would rather refer the best guy and I’ll tell you what, in our practice we redefine local. Local is not just in our neighborhood; local is fifty states Dick: Yes, because local is as quick as a click away. Eric: That’s right. Dick:
We can talk to an advisor; I can talk to an advisor in Texas; Allen or Rob. I can talk to them faster than I can get you Eric. Eric: That’s right. A lot of times we can say “hey, Paul…” and Paul is five dials away and me, I’m just stuck behind the door at the back. Dick: Eric! But that is the truth. and what we got to come back to folks is that technology today has changed
everything. It’s all leveled the playing field. You no
longer would consider looking around for someone to do an
organ transplant locally or you know a serious heart operation or you name it. When it comes to medical elective
surgeries, you’ll shop. You get on the internet. You do
your research and you jump on the airplane a go where it’s best. And next to… Eric: Well I was going to say how is
retirement planning starting now? Typically with you setting up a 401K
or retirement planner or your employer, it’s not like those dollars are just
sitting on your bosses top drawer You’re literally setting up those
accounts. Most often, they’re configured and then you’re in-charge in making the changes; you’re logging into TD Ameritrade or fidelity
or TRowe Price; and you’re manipulating those accounts. Those dollars are not sitting right there; you’re working with a place that’s
giving the tools to be more efficient, more affective. The planning tools are
there; everything’s online so you have immediate access. Dick: Right. Eric: The same as… Dick: Well, there’s been this consolidation in the annuity industry which is very similar in a sense that everything is coming down to the expert; down to the
specialist; down to that aggregator or the person who has the greatest access and
availability; and works with more folks and sees more
things. And their specialization, their abilities continue to grow and
increase; and the local person unfortunately
doesn’t have that same advantage. Eric: Right and we’ve seen many advisory and we always call them accumulation specialist that have done a great job helping you build
up your savings to a certain stage. Now it’s time for retirement, well you’re
accumulation specialist may not be the same guy that’s going to help you with retirement. Dick: It takes whole different skill set. And I come back to this whole thing about the healthcare. When it comes down to choosing a specialist, I look at financial situations in people’s lives is being on par,
it’s somewhere up there with those health care decision. This is going to be your entire retirement
and if you don’t work with somebody who really knows how to get it right in the first place, a having that local guy is not necessarily going to be the best answer. Eric: Yes and I guess I had never thought
about it being heart surgery probably don’t get to do too many do overs. They take the one out… Dick: There’s only one shot. Eric: Retirements much the same way. You want to compare the best way the first time. So working with somebody the best people possible should be first and foremost in your
retirement planning mindset than necessarily working with the guy around the corner. Dick: Right. And Eric when it comes to referrals, we do work with some folks from our website and we have our local practice but when it comes to referrals we’ve had to basically do the same thing. We’ve had to choose the best of the best!

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