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We used an RIA. The only designation where I can sue him if he gives me bad advice. He is required by law to look out for your benefit. All the rest of the designations, you are SOL. Especially with the new changes made this administration.
We pay 1.25% per year. He shopped the products, I got a good deal on my life/LTC cause the company only sells to fee based. So no big commission.
Had an Roth annuity, that was ready to start paying out after 10 years. ING. No more interest to gain. We didn't need the cash flow. Had $700,00 in it. RIA got us a new annuity with a 15% bonus, It also continues to pay an interest depending on stock market, (guarantee no lower than 4% cap is 10%) while being turned on. Pays out $43,000+ once a year to another account and RIA invests that money. All Tax free since all the money came from a Roth originally. No big commission here unlike original back in 2004 from a non fee based planner. We were told he would of gotten about $22,000.00 for selling us the original annuity.
So fee based Planners tell you what to do but not how to do it? WTH are you paying for? Glad I used an RIA.
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