Comments for davidmacchiablog.com http://davidmacchiablog.com Sat, 14 Aug 2010 10:30:35 -0700 http://wordpress.org/?v=2.9.1 hourly 1 Comment on Interview with Francois Gadenne: The Executive Director of the Retirement Income Industry Association Talks About How RIIA Emerged, the Future of Retirement Income, and RIIA’s Role in Helping to Define It. by Web site of the state - State web - State of connecticut judicial web site http://davidmacchiablog.com/?p=42&cpage=1#comment-7764 Web site of the state - State web - State of connecticut judicial web site Sat, 14 Aug 2010 10:30:35 +0000 http://davidmacchiablog.com/?p=42#comment-7764 [...] Interview with Francois Gadenne: The Executive Director of the 3 Apr 2007. In this interview with Retirement Income Industry Association (RIIA).. As the shift progresses, the part of the market best answered by specific. needed to properly place retirement assets into a distribution mode... Pingback from François Gadenne Adds “Guest Blogger” to His Already.davidmacchiablog.com/?p=42 - Interview with Francois Gadenne: The Executive Director of the [...] [...] Interview with Francois Gadenne: The Executive Director of the 3 Apr 2007. In this interview with Retirement Income Industry Association (RIIA).. As the shift progresses, the part of the market best answered by specific. needed to properly place retirement assets into a distribution mode… Pingback from François Gadenne Adds “Guest Blogger” to His Already.davidmacchiablog.com/?p=42 – Interview with Francois Gadenne: The Executive Director of the [...]

]]> Comment on My analysis of the complaint against agent Michael DelMonico by Jim http://davidmacchiablog.com/?p=9&cpage=1#comment-7763 Jim Mon, 28 Jun 2010 14:25:43 +0000 http://davidmacchiablog.com/?p=9#comment-7763 David, you are spot on. National Ethics Bureau is a meaningless designation used to impart a false sense of ethical responsibility and expertise to an agent. The truth is that anyone can purchase membership in this organization. David, you are spot on. National Ethics Bureau is a meaningless designation used to impart a false sense of ethical responsibility and expertise to an agent. The truth is that anyone can purchase membership in this organization.

]]> Comment on Now on YouTube.com: A Stark Example of Why the Indexed Annuity Industry is Destined to Implode Unless it Tackles the Misleading Marketing That is Behind Much of Its Product Sales by Compare Annuities http://davidmacchiablog.com/?p=147&cpage=1#comment-7738 Compare Annuities Fri, 26 Mar 2010 09:20:53 +0000 http://davidmacchiablog.com/?p=147#comment-7738 You can have immediate annuities or deferred annuities that areequity indexed annuities,annuities,compare annuities . The variable annuities often offer the option of varying the payment when the market increases once you annuitize the product.immediate annuity,fixed annuities,immediate annuities You can have immediate annuities or deferred annuities that areequity indexed annuities,annuities,compare annuities . The variable annuities often offer the option of varying the payment when the market increases once you annuitize the product.immediate annuity,fixed annuities,immediate annuities

]]> Comment on Part One: A Deadly Cocktail? The “Extreme Makeover” of Annuity Agents into Registered Investment Advisors by Deferredannuity http://davidmacchiablog.com/?p=169&cpage=1#comment-7551 Deferredannuity Thu, 04 Mar 2010 09:02:17 +0000 http://davidmacchiablog.com/?p=169#comment-7551 You can have immediate annuities or deferred annuities that areequity indexed annuities,annuities,compare annuities . The variable annuities often offer the option of varying the payment when the market increases once you annuitize the product.immediate annuity,fixed annuities,immediate annuities You can have immediate annuities or deferred annuities that areequity indexed annuities,annuities,compare annuities . The variable annuities often offer the option of varying the payment when the market increases once you annuitize the product.immediate annuity,fixed annuities,immediate annuities

]]> Comment on Interview with ING’s Harry Stout. President of US Retail Annuity Business Cites Transparency as Key to Sales Growth; Predicts Fixed and Variable Annuities to “Harmonize” in Terms of Regulation, Selling Practices, Disclosure & Licensing by ofigennoe http://davidmacchiablog.com/?p=138&cpage=1#comment-7294 ofigennoe Wed, 03 Feb 2010 11:22:27 +0000 http://davidmacchiablog.com/?p=138#comment-7294 Восхитительно Восхитительно

]]> Comment on An Overview of the Blog by Mike Mazzola, Founder of Advanced Financial & Consulting Group http://davidmacchiablog.com/?p=5&cpage=1#comment-5926 Mike Mazzola, Founder of Advanced Financial & Consulting Group Sat, 25 Jul 2009 20:12:23 +0000 http://davidmacchiablog.com/?p=5#comment-5926 Aloha David, I subscribed to your Blog several weeks ago and the subscription was acknowleged. However, I have not received any of your blog writings at this point. Whos should I contact to rectify? Mahalo Mike Aloha David,

I subscribed to your Blog several weeks ago and the subscription was acknowleged. However, I have not received any of your blog writings at this point. Whos should I contact to rectify?

Mahalo

Mike

]]> Comment on The SEC Rules Indexed Annuities Are Indeed Securities; Which Companies Will Now Leverage the Obama Success Model? by Bob Richards http://davidmacchiablog.com/?p=202&cpage=1#comment-3515 Bob Richards Fri, 26 Dec 2008 21:26:34 +0000 http://davidmacchiablog.com/?p=202#comment-3515 A bigger deal has been made of this EIA as a security thing than necessary. Any agent can just go get an RIA certificate. Its no big deal. You take the series 7 exam (the requirement in most states) and then send about $150 and an application to your state. Within weeks, all of the EIA issuers will offer a fee-based EIA for RIAs. (The RIA certificate also enables the agent to sell fee-based variable annuities and get into the money management business). Yes, it's a change from geting the usurious 8% commission up front and instead getting 1% annually, and this is all likely good as it will drive the scum agents who caused this out of the business. If this is too much work or the agent cant pass the series 7 exam, GOOD. He's not the guy that should be discussing finances with any consumer. Not that I think the SEC is right, but let's make lemonade out of lemons. A bigger deal has been made of this EIA as a security thing than necessary. Any agent can just go get an RIA certificate. Its no big deal. You take the series 7 exam (the requirement in most states) and then send about $150 and an application to your state. Within weeks, all of the EIA issuers will offer a fee-based EIA for RIAs. (The RIA certificate also enables the agent to sell fee-based variable annuities and get into the money management business).
Yes, it’s a change from geting the usurious 8% commission up front and instead getting 1% annually, and this is all likely good as it will drive the scum agents who caused this out of the business. If this is too much work or the agent cant pass the series 7 exam, GOOD. He’s not the guy that should be discussing finances with any consumer. Not that I think the SEC is right, but let’s make lemonade out of lemons.

]]> Comment on The SEC Rules Indexed Annuities Are Indeed Securities; Which Companies Will Now Leverage the Obama Success Model? by David Macchia http://davidmacchiablog.com/?p=202&cpage=1#comment-3442 David Macchia Thu, 18 Dec 2008 14:50:01 +0000 http://davidmacchiablog.com/?p=202#comment-3442 In Response to David Sanderford, Thank you for your comment. The less-than-consumer-oriented features of indexed annuity contracts that you reference are widely acknowledged and will continue to disappear over time. It’s really an old rant. For me, suitability and quality investor education are the important issues. One can be critical of many financial products and the manner in which they are marketed. Do you doubt that many investors felt they would achieve greater benefits than they actually did receive from target date and target income mutual funds? The truth is, all product types have their place. What we need is unbiased education around various products that leaves each industry's biases behind. Then we can move toward a more strategic framework that beneficially combines the best aspect of different products. In Response to David Sanderford,

Thank you for your comment. The less-than-consumer-oriented features of indexed annuity contracts that you reference are widely acknowledged and will continue to disappear over time. It’s really an old rant.
For me, suitability and quality investor education are the important issues. One can be critical of many financial products and the manner in which they are marketed. Do you doubt that many investors felt they would achieve greater benefits than they actually did receive from target date and target income mutual funds? The truth is, all product types have their place. What we need is unbiased education around various products that leaves each industry’s biases behind. Then we can move toward a more strategic framework that beneficially combines the best aspect of different products.

]]> Comment on The SEC Rules Indexed Annuities Are Indeed Securities; Which Companies Will Now Leverage the Obama Success Model? by David Sanderford http://davidmacchiablog.com/?p=202&cpage=1#comment-3381 David Sanderford Wed, 17 Dec 2008 21:52:59 +0000 http://davidmacchiablog.com/?p=202#comment-3381 The Dateline segment on EIAs was weak and did not capture the very real tragedy taking place in the inappropriate sales of equity index annuities. To blame the SEC action on media distortion is weak in its own fashion -- and disregards the use of predatory senior marketing techniques, the 14 year "break even" schedules, multi-level marketing abuse that requires a ridiculous level of commissions that in turn produces unconscienable contract fees. The sale of EIAs with "bonuses" that have no intrinsic value, with market value adjustment features (that when combined with high withdrawal fees) that put credited interest in "double jeopardy" of being forfeit, join to make EIA totally incomprensive to the average prospect. Granted, the recent market fall makes any product not directly tied to market results look good by comparison -- but a majority of the EIA sales are still not reasonably suitable for the customers to whom they are sold. The industry that makes and sells these products have waged a legal and public relations war against the proposed rule, solely to profit further at the public's expense. The Dateline segment on EIAs was weak and did not capture the very real tragedy taking place in the inappropriate sales of equity index annuities.

To blame the SEC action on media distortion is weak in its own fashion — and disregards the use of predatory senior marketing techniques, the 14 year “break even” schedules, multi-level marketing abuse that requires a ridiculous level of commissions that in turn produces unconscienable contract fees.

The sale of EIAs with “bonuses” that have no intrinsic value, with market value adjustment features (that when combined with high withdrawal fees) that put credited interest in “double jeopardy” of being forfeit, join to make EIA totally incomprensive to the average prospect.

Granted, the recent market fall makes any product not directly tied to market results look good by comparison — but a majority of the EIA sales are still not reasonably suitable for the customers to whom they are sold.

The industry that makes and sells these products have waged a legal and public relations war against the proposed rule, solely to profit further at the public’s expense.

]]> Comment on The SEC Rules Indexed Annuities Are Indeed Securities; Which Companies Will Now Leverage the Obama Success Model? by Ray Ohlson http://davidmacchiablog.com/?p=202&cpage=1#comment-3373 Ray Ohlson Wed, 17 Dec 2008 20:00:25 +0000 http://davidmacchiablog.com/?p=202#comment-3373 David, Hope you are doing well. great article Ray Ohlson David,
Hope you are doing well. great article
Ray Ohlson

]]> Comment on Interview with MetLife’s Garth Bernard: Advocate of Income Annuities Pulls No Punches About Industry’s Need to Step-Up and Wear the Mantle by Curtis Cloke, CLTC, LUTCF (Founder of "Thrive Income Distribution System™" http://davidmacchiablog.com/?p=26&cpage=1#comment-1856 Curtis Cloke, CLTC, LUTCF (Founder of "Thrive Income Distribution System™" Tue, 11 Nov 2008 12:18:55 +0000 http://davidmacchiablog.com/?p=26#comment-1856 I believe that Mr. Benard is right on track. I have been creating strategies for income distribution utilizing laddered designated period payout annuities for the past 10 years. Apparently Mr. Ambrose (commenter to this article) has not been told that when annuities are annuitized as a designated period payment contract, the purchase in no way gives up the assets or the income. The entire sum of all deposits and all gain from the contract is fully and contractually paid back to the purchaser or the purchaser's heirs if the purchaser should die. These very specialized single premium deferred INCOME annuities are not very well known but are the focus of discussion around the board rooms of many major insurance companies as I write this comment. As Garth indicates in this article, the need for innovation of these incredibly power income tools, is right on the money. The single premium deferred INCOME annuity products I am referring to provides rates of return very similar to alternative fixed income vehicles (currently rates ranging from 5.2 - 6.2%). I do not think that these rates that provide contractual income with full return of basis, hold a back seat to any other contractual fixed income alternative. Moreover, because annuities that are annuitized allow "exclusion ratio" tax treatment upon payout, these products have significant tax advantages in comparison to other fixed income alternatives. The last two points using these products is that when you utilize designated period payouts as the strategy, you control the taxable “exclusion ratio” for each and every payout period you ladder in the retirement plan. By coordinating with the current standard deduction of the retiree, you can actual create early periods of retirement income where the net tax is zero when NQ funds are utilized. Lastly, you can control the portfolio portion of the total assets used to purchase the laddered income payout contracts vs. the assets left to invest so that you can create the perfect storm of never allowing a the total portfolio value of a retiree’s balance to dip in total value. We build most of our retirement plans using this strategy to actual increase the portfolio value of the retiree with no market risk to the income. As Garth indicates in this article, we as an industry have much to do to solve the income needs of our clients and annuities do play a significant role. (Founder “Thrive Income Distribution System™”) I believe that Mr. Benard is right on track. I have been creating strategies for income distribution utilizing laddered designated period payout annuities for the past 10 years. Apparently Mr. Ambrose (commenter to this article) has not been told that when annuities are annuitized as a designated period payment contract, the purchase in no way gives up the assets or the income. The entire sum of all deposits and all gain from the contract is fully and contractually paid back to the purchaser or the purchaser’s heirs if the purchaser should die. These very specialized single premium deferred INCOME annuities are not very well known but are the focus of discussion around the board rooms of many major insurance companies as I write this comment. As Garth indicates in this article, the need for innovation of these incredibly power income tools, is right on the money. The single premium deferred INCOME annuity products I am referring to provides rates of return very similar to alternative fixed income vehicles (currently rates ranging from 5.2 – 6.2%). I do not think that these rates that provide contractual income with full return of basis, hold a back seat to any other contractual fixed income alternative. Moreover, because annuities that are annuitized allow “exclusion ratio” tax treatment upon payout, these products have significant tax advantages in comparison to other fixed income alternatives. The last two points using these products is that when you utilize designated period payouts as the strategy, you control the taxable “exclusion ratio” for each and every payout period you ladder in the retirement plan. By coordinating with the current standard deduction of the retiree, you can actual create early periods of retirement income where the net tax is zero when NQ funds are utilized. Lastly, you can control the portfolio portion of the total assets used to purchase the laddered income payout contracts vs. the assets left to invest so that you can create the perfect storm of never allowing a the total portfolio value of a retiree’s balance to dip in total value. We build most of our retirement plans using this strategy to actual increase the portfolio value of the retiree with no market risk to the income.

As Garth indicates in this article, we as an industry have much to do to solve the income needs of our clients and annuities do play a significant role.

(Founder “Thrive Income Distribution System™”)

]]> Comment on Financial Services Needs a “Compliant YouTube” by Seanna http://davidmacchiablog.com/?p=18&cpage=1#comment-1854 Seanna Mon, 27 Oct 2008 12:52:37 +0000 http://davidmacchiablog.com/?p=18#comment-1854 Well written article. Well written article.

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