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Message
Financial consultant question
Posted on 8/1/12 at 8:00 pm
Posted on 8/1/12 at 8:00 pm
My friend from high school recently called me up out of the blue and wants to talk to me about finances. He is a financial consultant now I guess. I told him I would meet with him Friday out of respect for our past friendship. I literally hadn't spoken to him in over 5 years. I'm good with my money and like where I'm at financially. What should I expect from him in this meeting? Is this like a hard sale type situation? Is he gonna want to know my personal financial situation or just offer me his services? I believe he is with Northwestern Mutual.
6
Posted on 8/1/12 at 8:07 pm to PillPusher
The last line is everything...he will try to sell you some kind of life insurance.
Posted on 8/1/12 at 8:08 pm to PillPusher
Depends on who he works for and how good he is at what he does. It could be just a hard sell, but if he is worth a shite, he will take the time to try and understand your financial program.
At the end of the day, you will be able to tell if it will be worth your time very quickly. If he isn't hard selling you, the. At the minimum you get a free look into your financial program from a fresh set of eyes, and could be opened to some new avenues you haven't thought of.
If he is actually good at doing financial planning, it will be worth your time. Unfortunately there are lot of people that ruin the profession for a lot of others.
At the end of the day, you will be able to tell if it will be worth your time very quickly. If he isn't hard selling you, the. At the minimum you get a free look into your financial program from a fresh set of eyes, and could be opened to some new avenues you haven't thought of.
If he is actually good at doing financial planning, it will be worth your time. Unfortunately there are lot of people that ruin the profession for a lot of others.
This post was edited on 8/1/12 at 8:11 pm
Posted on 8/1/12 at 8:23 pm to PillPusher
Northwestern Mutual + Friend/Family Cold Calling = Life Insurance
Posted on 8/1/12 at 10:26 pm to PillPusher
NWM seems to have some competitive rates on term life, but you will def get sold on some whole life.
Posted on 8/2/12 at 8:30 am to PillPusher
Tell him you are not interested in life insurance, but you would be interested in learning about long-term care insurance. Northwestern Mutual has some of the best plans available, and long-term care insurance will likely prove more beneficial to you than life insurance.
Posted on 8/3/12 at 6:00 pm to PillPusher
just thought I would bump this to see how the lunch went. Did he actually try to do his job, or did he just push products and act like the rest of the dolts in this industry that ruin it for the rest of us?
Posted on 8/3/12 at 6:41 pm to GoCrazyAuburn
quote:
just thought I would bump this to see how the lunch went
It actually wasn't as bad as I thought it was going to be. We talked about some goals and such. He took some numbers from me and told me he would follow up with a few plans he thought I might like that would fit my needs. Nothing was forced.
Posted on 8/3/12 at 8:10 pm to PillPusher
I bet he tried to sell you disability insurance.
Posted on 8/4/12 at 11:42 am to PillPusher
Good to hear. Hopefully he has some good stuff to show you.
Posted on 8/4/12 at 11:43 am to urinetrouble
Do you have something against disability insurance?
Posted on 8/5/12 at 3:35 pm to urinetrouble
quote:
I bet he tried to sell you disability insurance.
Dude, this saved my life. In fact, retired at 52 was not in my plans, but I did and living very good due to having disability insurance. I'm pulling full SSD which is $2351 a month and what that doesn't make up for what I used to make, the insurance has picked that up till I reach the age of 70. Also, that insurance has picked up full payment for 1/2 million on life insurance till I'm 70. All that at a cost of $27 a month thru work. Now, I pay nothing.
In fact, I will not have to touch any of my retirement funds till I hit 70. SWEET! 
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