Should I Speak Up and Say Something?

[sloanclu01]

Tell dad to change his mind and not buy anything for now. To think it over. Then write him with another carrier and keep all of the commissions.

 

[asu47]

Tell dad to change his mind and not buy anything for now. To think it over. Then write him with another carrier and keep all of the commissions.

Kind of what were doing. He needs a 401k/profit sharing plan like stated a page back.

Were going to set that up, because he does need to dump 50-100k into something, because he does not like paying the government and will do whatever he can not to lol.

As for life insurance. He agrees that he wants to sit down and have a real discussion about it. He even told me that plan he laid out looked pretty good, its just the way he tried to sell it to my dad was a snake move. He may still buy something similar, but maybe for a lower premium. He liked the idea of using it for supplemental retirement income, but if theres no tax benefit, he doesn't want to sink 50k a year into it.

 

[scagnt83]

Quick point going back to the comp issue. It is very common practice in most career offices that mentors or managers do not split the comp on family business, at least not close family. Forget the whole "isnt 50% worth the education" bs. This is controlled business... whole different animal than normal clients.

The OP is 100% within is rights to bring up the issue with the mentor or management. Especially if he was specifically told otherwise.