American National Contract

[CFP83]

I have several very nice 401 K's that I want to utilize their non registered Group annuity product. These plans total several million dollars. Anyone who knows of where I can get a competitive contact let me know. My main IMO has gotten greedy when they saw the money they can make off of me on these sales.

 

[DHK]

Contact Tahoe Ray. He'll set you up well.

 

[///MJay]

The local Ohio National office here has a similar set up if you would like I can give you the information.

 

[CFP83]

interesting about Ohio National.....however being that I'm in Ohio, the oddity is that its a horrible state to sell ohio national in for independent advisors.....as I understand it, I have no other choice other than to go through a career GA and take a huge haircut.

I really like this ANICO product and the fact that they have their own TPA makes it an even better selling point.

 

[Tahoe Ray]

Contact Tahoe Ray. He'll set you up well.

Thanks, DHK. I appreciate the endorsement.

 

[scagnt83]

Not to take the endorsement away from Ray (he is a friend and an IMO I have referred people to before), but you can always contract direct with Anico too.

Also, they are hardly the only bundled non-registered group annuity. MoO, LFG, Principle, and Guardian all have really great products with lower fee structures than Anico. (and true 401k style comp vs. annuity style comp)
MoO is probably my favorite out of the 3. All 3 of those offer a bundled platform (meaning they do the admin for the plan).

But aren't you associated with a BD? If so, you will most likely have to run it through your BD anyways. So that opens up even more options to you if you want to go the registered route.

Also, on a technical note, Anico does not offer TPA services. But they do offer Bundled Admin services for their products. A true TPA is a third party who does admin on any product, not just their own.

 

[Ron Van D]

Not to take the endorsement away from Ray (he is a friend and an IMO I have referred people to before), but you can always contract direct with Anico too.

Also, they are hardly the only bundled non-registered group annuity. MoO, LFG, Principle, and Guardian all have really great products.
MoO is probably my favorite out of the 3. All 3 of those offer a bundled platform.

But aren't you associated with a BD? If so, you will most likely have to run it through your BD anyways. So that opens up even more options to you if you want to go the registered route.

Why is MOO your favorite?

 

[scagnt83]

Why is MOO your favorite?

Low Asset Fees. Low Admin costs (they used to offer free admin for accounts over $1mill.. not sure if they still do or not though). Plus they have great sub-account options and probably the best Fiduciary protection compared to the others... especially compared to Anico.

Anico's product is better suited to DB plans over DC plans imo. Mainly because of the lack of enhanced Fiduciary protection and a limited investment lineup.

----------

Also, I forgot to mentin that Ray might be able to pay a higher comp vs. direct, So I would still speak to him.

 

[CFP83]

Not to take the endorsement away from Ray (he is a friend and an IMO I have referred people to before), but you can always contract direct with Anico too.

Also, they are hardly the only bundled non-registered group annuity. MoO, LFG, Principle, and Guardian all have really great products with lower fee structures than Anico. (and true 401k style comp vs. annuity style comp)
MoO is probably my favorite out of the 3. All 3 of those offer a bundled platform (meaning they do the admin for the plan).

But aren't you associated with a BD? If so, you will most likely have to run it through your BD anyways. So that opens up even more options to you if you want to go the registered route.

Also, on a technical note, Anico does not offer TPA services. But they do offer Bundled Admin services for their products. A true TPA is a third party who does admin on any product, not just their own.

I appreciate this feedback....
Do the MoO plan and Principle plan require a securities license? I have an advisor friend who gave up his sec licenses and does a lot of biz with ANICO on their unregistered group annuity.....I was wondering if these would be options for him.

 

[scagnt83]

I appreciate this feedback....
Do the MoO plan and Principle plan require a securities license? I have an advisor friend who gave up his sec licenses and does a lot of biz with ANICO on their unregistered group annuity.....I was wondering if these would be options for him.

As long as he has passed a Securities exam at some point in his life MoO will allow him to sell it. Depending on OHs security laws Principle might let him sell it without having passed a securities exam. The registration does not have to be active, as long as he received a passing grade on the exam he is good to go.

I also have to second the ON recommendation. I would look into the comp on it, because often Group Annuity Comp is fairly standardized across states since it is a bit of a different animal. ON has a different comp structure than most, but then again so does Anico... but ONs is much better of you like trail income.