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Guest Sierra

Pay The Same

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Guest Sierra

As we know the VA/mutul fund vendors sell their products via sales agreements with broker dealers---this necessitates charging the buyer much more than what the vendors charge their employees for the same product. So just like GM/Ford are now selling their products to the public at the same price their ees pay why not apply the same goodwill to the 403(b) marketplace? Would it not be good for business?

 

Peace and hope,

Joel

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Sierra, you are too kind! Do you think the companies that sell VA/mutual funds are really good to their employees? I think it is an interesting question. When I was a sales recruiter for a business forms company I went to the sales/marketing hype conventions and saw how sales people seemed very gullible. They were quick to get excited about spending money to make money...and I suspect you are on to something, but a little different than your post...I believe the agents are probably getting screwed too. Teachers are too easy..a donut will buy them apparently..so the level of integrity and customer sophistication make it a messy business. And this is a good place to say so. At least we may be able to affect teacher awareness. Dan

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Joel,

 

Interesting idea, but...

 

1. Why would the investment industry lower their costs? Obviously many customers are willing to pay loads, M&E, etc. It would not increase business (most people on this site would not leave TIAA, Vanguard, etc.).

 

2. Ford and GM are desparate and are killing their future sales (anyone owning shares of MFs that include American car companies may want to think about this). The investment industry is alive and well. Not a good comparision.

 

Here's a better idea for the industry... Refunds of some expenses if their investments (funds, etc.) do worse than the industry average. This would keep current customers happy and attract people who are scared to invest even with Vanguard.

 

Take Care,

 

Chad

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