2024 0313 – Power 3 Financial – WFG v. GFI: Industry insights with Money Mythbuster – [Matt Schloss] – [VIDEO-YouTube-46:08]

  • 2024 0313 – Power 3 Financial – WFG v. GFI: Industry insights with Money Mythbuster – [Matt Schloss]  —  [BonkNote]  —  [VIDEO-YouTube-46:08]
    • Matt Schloss – Money Mythbusters – Current GFI Agent, Former WFG Agent
  • Doug Andrew – LaserFund
  • WFG – Transamerica – IUL
  • 12 – Laser Fund – That’s the right way to do it.
  • Companies used – Nationwide – MPI – Transamerica – NLG, National Life Group – 
  • Nationwide – 20%, 30%
  • 15 – Eric Olson – WFG – GFI
    • Matt Directly mentored by Eric. More commission to the field, business ownership, Pinnacle (16k agents), 
    • Eric and Sandra don’t need the money.
  • 19 – Training – 
  • 21 – WFG = Practice Company
  • Companies high Recruiting activity giving the industry a bad name.
  • Training – Need to be to do the right thing.
  • 23 – Ryan Rush – Explanation too easy
  • Taking advantage of people
  • 27 – Look Back Period – Safety of Insurance industry
  • 27 – New Heights IUL didn’t perform
  • 28 – Annual Reviews
  • Is NLG Going to be your go to company? – New Options – CoreBridge – ANICO
  • 29 – Guidelines – Guideline Level Premium – 7-pay, 4-5 years – 7-pay resets in year 11 or..  for Increasing benefit. 
  • 30 – Guideline Single Premium – Don’t pay attention to it.  It’s the 7-pay broken down.
  • Increasing vs Level 
  • Target Premium – Commission based – I don’t give a shit.
  • Casey Dahl – Target Premium – Goal amount that they need to contribute to keep the policy in good standing. That’s your flexibility. Get your Target premium in and we’re solid.
  • Required Minimum – 
  • Minimum Premium – NLG – No-Lapse Guarantee
  • Target Premium – 
  • I don’t present the Level Death Benefit – People who do just want more commission.
  • Premium Finance – Kaizen – 
  • Kaizen – Bank Financing – You can screw somebody more with a Kaizen than an poorly structured IUL.
  • MPI – Curtis Ray – Taking the money out of the policy and putting in back in the policy.
    • The guy is full of shit.
    • Casey Dahl – So full of shit. 
    • Line of Credit is coming from his company – SunCor
    • People need to do their due diligence
    •  – Curtis Ray was going to come on the show. I can’t stand the guy.
  • Annual Statements – Are they confusing? Can be. Depends of the company. 
  • MPI – Curtis Ray – said the company statements have no meaning.  wrong.
    • Sells Mutual of Omaha – 
  • 7702 – Tax-free growth of the
  • 101
  • 72t
  • Annuities – Athene