Saturday, June 30, 2007

Tales from The Ripped (Off)- Advisors and Agents Speak Out

(Sorry about the all-over-the-place fonts, but these are "cut" from actual emails and I wanted to keep the authenticity.-td)

David H. gives We Set Appointments the big old thumbs down...

"Beware of this service. I paid $2,400 for what I was told would be 30 pre-set appointments. What I got in return was 5 pre-set appointments and 25 people who were told that I would be stopping by at such and such time. They were given a number to call to cancel the appointment. When this number was dialed it was a steady busy signal. I tried contacting the Better Business Bureau and the Attorney General to no avail. This shameful company is still in business to date. Beware of"

Dennis reports he has ..." had horendous results from various lead sources, and spent thousands of dollars. Do you know of a real worthwhile one that get results in the financial and insurance service industry. If so please pass it along to me. I have had empty promises so far. Thanks Dennis.

A ray of hope from JR:

This is the funniest yet- I may actually give a prize for this one!

Before the demise of Larry " I'm not a crook" Klein. I used a part of his system.

One of the solid, $18.00, verified leads, ended up being a 42 year old stripper, who wanted to know If I was interested in seeing her show.

That lead may have been the best and most qualified lead of the entire bunch. She has a job!

I’ve mainly tried to obtain leads over the internet for individual medical/health leads and have discontinued this from any lead source that sells them as I have found that all or most all sell even exclusive leads to any who will buy. I have proven this to myself by simply asking the prospect: How many phone calls have you received for you health insurance needs? Several years ago it was a good way to market but as time went on and more and more agents got on line (as well as lead sellers) the leads dropped in value dramatically and are a waste of time in my opinion. Direct mail still works for health leads as a 1% to 2% return nets fair to good results.

SR- Pearland, TX

If you consider using Ashton-Danbury leads, in a word, DON"T. Poor service, no feedback, and worst of all, no appointments. Very unprofessional. JS-Virginia

Any more happy or horror stories? Send them to me at: or



I'm Not Larry said...


I'm having a hard time seeing how this blog is any different than the "screwedbylarry" blog... You seem to be unable to tell a story without trashing someone else...

I thought the purpose of this blog was to provide us with info that we can use to help us do better... Not just another blog that talks about how we can get screwed (especially by LK)...

TD said...

I post what people send in- their evaluations and comments. Perhaps I am wrong but INFO also includes personal experiences, testimonials, and kudos.

I am not "trashing" or tageting any particular company. I just wrote an article with tips on how to choose a lead source.

I didn't trash anyone in the article- these are legitimate pointers you can apply to ANY lead service you might wish to check out.

It was in direct response to someone asking me "so how can I tell if this is a real lead service or not?"

I allow any advisor who wants to to post true stories. How is that trashing? If the shoe fits...

Also INL- since Javelin is one of the more aggressive lead companies in terms of marketing and calling people, it is understandable that many of the emails I get deal with them.

Don't you think there is some value in letting potential clients know about the companies they MIGHT do business with.

This is NOTHING like SBL, which was originally intended for employees and people who LOST MONEY.

However, since LK continues to target unsuspecting agents and advisors and offer crap, you can be assured his name WILL pop up from time to time.

You might want to back up and look at the other content a bit before you start crabbing at me.

Another suggestion: You might also give me ideas for future topics.

What is hot and burning for you right now? Seminars? Direct mail?
Lead lists? What is it that you want information about, anyway?

I am glad to accomodate but you seem hellbent on ferreting out any mention of Javelin, even though ZI get about 20 emails a day asking about them.

Bad news sometimes travels very slowly on the Internet.


I'm Not Larry said...


How sad it is that what you post is representative of what you are receiving...

I'd be happy to add suggestions to help people do better... However, what I won't do is help agents do better at the expense of retirees...

What do I mean by that?? Well, I believe with every fiber of my being that people that are going to "advise" retirees on what they should be doing with their hard-earned money should have more than just a life insurance license... Why? Because a retiree can't afford to make mistakes with their retirement assets and when they make a mistake with an annuity with a long surrender period (and a high surrender charge), I believe that they've been harmed... So, I won't help someone that only has a life insurance license so that they can do this sort of thing...

That said, I will walk across broken glass to help a life insurance person makes it painfully clear to their prospects/clients that the only thing they have to offer is an annuity (and that their recommendation does not include a comparison to a broad variety of securities to ensure that their recommendation is the thing that is best for the client)... Unfortunately, I've not met that person yet, so I don't have to spend much time/effort helping them out.

So who do I help?? I help anyone that is willing to get a Series 7 and 65/66 along with an insurance license so that I know that the prospect/client at least has a chance to receive the best possible solution for them... Do these licenses mean that they will get good advice?? Clearly, no, but it is a good start.

Sadly, what I hear far too often is that registered reps are giving up their NASD licenses and, as a result, only offer fixed and equity indexed annuities to their clients... What is their #1 reason for this? They say that it is because of all of the BS put on them by their BDs compliance department... So, what do I say to that?? Well.... Boo hoo...

To restate their reasoning in a way that isn't quite as flattering... They would rather have nobody looking over their shoulder and sell lots of the wrong things than have some oversight and sell not quite as much of the right things. If that isn't true, please consider one fact...

A person that holds an NASD license and a life insurance license can still sell fixed and equity indexed annuities... So why don't they? Because they can't justify the sale to their OSJ...

Sorry for the rant, but I feel just as strongly about this as you do about helping people see that companies like NFJavelin are a ripoff...