Chad Owen (retirement advisor) speaks in a YouTube video about brokers scrambling to retain clients during market volatility, describing specific anecdotes involving annuity transfers and custodial friction (Wells Fargo/AXA) and criticizing brokers who use misleading or fear-based tactics. He contrasts that with his own sales practice: thorough disclosures, multi-appointment process, life licensing for annuity sales, and an emphasis on client suitability and ethics. He also mentions upgrading his pickup truck/office to reduce recording noise and invites viewers to subscribe to his site retirementrealize.com.
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Hello, guys. Chad, Owen, with retirement realize I apologize a little bit. As you guys know, I do all of my recording while I'm actually running appointments. And my truck is a little loud, so you kind of hear that background noise. But here's some good news. I am upgrading my office. In about a month and a half, I will have a brand new and F250 platinum truck. I'm gonna do that because it has sound insulation all inside, the doors and the windows. It's gonna be much quieter. So I appreciate you guys, but you know what? Once again, this is just what I do. This is my living. I do it just like you guys do. But want to share an interesting scenario. Man, it's amazing how desperate brokers are getting right now. I mean, it's like they're up against the wall, scrambling for business. And how many things they say that are. Where did you come up with that one? For example, I have a client I sold an annuity to last night, and he calls his broker to liquidate the accounts. And the brokers like, are you sure that guy's licensed? Well, how dumb is that? I've alliance brochures for this particular client. I have the alliance application. I have everything that's in there. If I'm not licensed, how am I getting all these materials? How am I doing the illustrations? You know, it's just a dumb comment that somebody makes, but it's also humor at the same time. Or. I also had a deal where we were moving money out of Wells Fargo, but Wells Fargo was the custodian of an AXA annuity. So we call axa. AXA is awesome. They're basically saying, hey, this is the form you need. No big deal. And then we submit the form to Wells Fargo. Oh, that's not the form you need. We need a different one. So we call AXA Backup. Nope. This is the exact form. Go back to Wells Fargo. No, that's not the form. And it drug out over 45 days. And it was the right. But they're just trying to hold on to this business. We talked to three different people. It was just amazing. Once again, the rescue efforts people are trying to put on right now to save business. Here's the reality. If your client feels like they're not secure or safe with actual market volatility, why are you trying to scramble like crazy to save the deal? Why are you making all sorts of things up to try and save the business? You know, it just. It's. It's not a great practice to do, especially when the client Wants to move the money. I mean, man, I've been doing this since really 2008. I've been selling annuities real heavy and I've never had a complaint anywhere. Why? Because I go over all the disclosures, I go over exactly how the product works. I make sure it's suitable for the client, I make sure they're happy with it, I make sure they understand, I explain it really well. I actually purposely schedule three hours in between appointments just to make sure I have plenty of time to be there. And that's not just the first appointment, that's a first, the second and the third appointment if need be. I'll take as much time as they need to feel comfortable with it. And if they don't, that's fine, we can move on. But to just flat out say, put all these really conservation efforts to try and get them not to move the money. Hey, if you're going to bring up great facts, bring them up, go for it. You know, if you think your product is truly better for them, then more power to you. But just to say flat out things you know are misrepresenting, misrepresenting or not not telling the whole truth or you're trying to put fear in the client because what if they're not licensed? What if they don't know what they're talking about? What if they don't? What if they don't do this? What if they don't do that? Well, what if you don't protect your client's money? What if you would actually be honest and straightforward with your clients and say, hey, here's the fees and the mutual funds, here's the fees in my brokerage account, here's the fees. And this, what if you are straightforward with that? You know, it's, it's just, it's funny if you're one of those brokers, don't be like that. I run into plenty of great brokers, real honest, real ethical, they truly have the best interest out for their client. But man, you guys that are just saying this false stuff, you're just hurting your own industry. Because when I point out the facts that we're not even allowed to talk about annuities unless we're life licensed, that we're not allowed to actually have the product information unless we're life licensed, we're actually licensed, then they're going, wow, I'm surprised they didn't know that. No, they knew that. They're just misrepresenting to try and get you to keep your money there. So guys play fair. I mean, I deal with you guys. I deal with brokers. Just play fair. I tell them, hey, you know what? If you want to put your money in stocks, bonds, and mutual funds, that's your prerogative. It's your retirement. It's your money. That's your decision. I'm just not the guy to help you. So I appreciate your time, guys. If you're on YouTube, subscribe, like, comment. It ring the bell. And if you want to go on to retirement, realize.com you can subscribe to the memberships. We have all the car courses that you can click on individually. But once again, I appreciate you guys. You have a great day, and happy selling. Talk to you later. Bye. Bye.
