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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Terry D who wrote (103244)	1/24/2006 2:45:46 PM
From: Knighty Tin	Respond to of 132070

I think it is a shrinking space. But my firm is larger than all the discounters put together, so there is a long way to go. I think it will always be around, just as there will always be full commission life insurance salesmen. But I believe the huge transition of assets from the baby boom to GenX will be disastrous for the full service firms. The real problem I see is that there is no performance. You cannot expect the firms to produce performance. There are exceptions. Our Energy Fund (managed futures) has performed since the Earth was cooling. But you have to have a net worth equal to that of the top 4% of Americans to qualify to buy it. That is why debt, insurance, annuities, etc. are assuming so much importance in the business. But insurance can be a can of worms. It is a great financial planning tool, and super if you die. But some of the payouts if you live are very weird. I hate debt with a passion. There is a place for annuities. I'm not in that place. <G>