Investments
What is the S&P500?
Matt, 41, just changed jobs.
He might have an old 401k!
"I don't want to pay for an appointment."
"No worries, the first appointment is totally complimentary."
"I have a financial advisor"
"It never hurts to have a 2nd opinion. I would love to set you up with a complimentary appointment to get another look at your investments."
OR
"When is the last time you two spoke?"
What is historically a better investment? CDs or stocks/bonds?
Stocks/bonds
How much does the stock market return?
It is variable and depends!
Historically, 7-12% annually.
*dont quote a member this*
Edwin, 64, is retiring next year.
She should meet with an advisor to discuss a retirement plan.
"I invest on my own."
"Good for you! Have you ever considered letting a professional take a 2nd look at your investments?"
"The stock market is risky."
"Sometimes it can be! We have plenty of safer options outside of the stock market to look into."
Are there investment options that are 100% principal protected?
Yes! Annuities can be 100% principal protected and are insured by their own system. Often earning much higher yields than CDs.
How often does the stock market have a positive return annually?
70-80%
*dont quote a member this*
Shawn, 48, has $400k in his savings&checking account.
He has potential to earn higher rates of return. He is also over the NCUA insurance limit
"I have CD's/moneymkt account, I am fine."
"That is a good start! CD's and moneymkts are good short-term strategies. If you have long term goals and want to look at investments with more growth potential, I would love to connect you to an investments rep."
"I don't have time to talk right now."
"That is okay. What is a better time for somebody from the investments team to give you a call?"
How should I transfer an investments lead?
Warm transfer via Genesis, DesertForce referrals with notes, emailing IC with details. You can also put appointments on my calendar. I don't have Teams access by the way!
What is the difference between an IRA, 401k, and brokerage account?
Walter, 66, is selling a house and moving states.
He might need to invest the excess funds from the proceeds!
OR
His old advisor might be in another state and he needs a new one!
"That sounds complicated."
"Investments can be complicated! That's why we have a team of professionals to take care of the logistics for you."
"This is a bad time to be in the market."
"Have you spoken with your advisor recently? If not, ours would be happy to address your concerns."
What are the fees like?
There is an ongoing management fee, we don't encourage MEC reps to discuss fees. They tend to be somewhere around 1-1.5% for a managed account. If we are charging more, it is for better service!
What is a bond and what are rates like?
Debt obligation between a buyer and seller, often an entity such as a company, municipality, or government.
Treasury bond rates are very similar to that of CDs, corporate bonds tend to pay higher interest than CDs and moneymkts. The price of bonds can also fluctuate.
Often have large minimums you can bypass with RJ.
Barbie, 75, is inheriting funds.
We have an opportunity to make a difference in this member's life during a time of grief. Delicately, offer services as Inherited IRA's can be a challenge. Often, the inheritee of the funds has no trust/relationship with the advisor of the funds.
"I invest in crypto."
"We don't work with crypto, but we have plenty of other options an investments rep would be happy to discuss with you."
"Just send me an email."
"There is perhaps too much to discuss to compose in a single email. What is a good time for an advisor to call you?"
How much money do I need to get started?
$25k for a client to call with an IC
$50k to meet with an advisor in the field
<$25k if younger and intention to contribute significantly
*529 plans ruled out in most cases*