In recent day a new Fiduciary Rule has gone into effect. To sum up this rule it basically states that people in the insurance and financial sectors need to put the clients needs ahead of their own by only recommending products and services that are appropriate for the client’s situation and to disclose how the agent/broker is compensated. Honestly there needs to be a rule for this – I always just thought that was good business. Putting clients first is just the way we do business at my firm and there are no secrets on how we are compensated. Quite simply since we are not fee based, we are compensated by the companies should we enroll a client in a product. The compensation is explained up front and there is never a load on your investment. What this means to our clients is that every dollar they want deposited is credited at 100% to their investment.
Like all things we are not right for everyone, our focus is on preservation and distribution of ones accumulated assets. This does not mean we do not work with younger clients as at some point they will want to distribute and preserve their gains. What it does mean is contact us and have a discussion and we can decide together if we are a good fit. We often speak with clients who don’t know how to read their own statements and we are happy to educate and provide services. We expect loyalty not obedience from our clients as we are loyal to them. This is one of the many reasons many financial advisors, stockbrokers and many times other insurance agents contact myself or one of my associates to review and identify areas of exposure they themselves may not be familiar.
Many products we work with are already regulated and pricing and benefits are set by the insurance companies themselves. Whether you us or enroll on your own – you will pay the same price. However, using professionals like us, does not add anything to your cost, allows you to make sure you are purchasing the correct coverage and gives you the ability to consistently speak to the same person should questions or issues arise. Let’s face it, peace of mind adds value.
If you are starting out in life, between jobs, looking to enroll in Medicare or protect your assets from the high cost or care, even a simple review or question please do not hesitate to contact us or schedule an appointment online at: www.richardgweiss.com we look forward to being of service.
Short Term Health
In recent weeks we have been contact by several young men or more to the point their wives and “significant others” regarding the need for some type of health insurance. Many have tried going onto the Marketplace during open enrollment and did not understand what they were purchasing or did not see the value. Let’s face it, like my own sons they are not going to a doctor unless truly necessary and usually it is to the urgent care or the ER. Many in this category think they will just deal with the costs later as they can work out a payment plan or don’t have much to lose anyway. Honestly, I empathize with them as that is how I felt at that age. Who wants to spend money on something they think will never be used?
What many do not realized there is an entire product segment that is a great solution for this situation. The time spent working with providers to get things covered or make payment plans has value and the low cost of many of these plans is less than a nice dinner and drinks. Not to mention the piece of mind know if you are sick, not just hurt you have options. One of the nicest complements I have gotten recently is the stress reduction at home – not from the sense or relief of having insurance but knowing that they will not be asked everyday if this was taken care of today. Silly as that is it was one of the most honest benefits of their purchase.
Insurance can be very confusing and many people just don’t know who to ask. I am very fortunate that my children are starting off on their own and when they come to ask questions, they still don’t listen to me – but their friends do. Eventually you make a choice take care of it or don’t, everything always works out maybe not the way you want it to but let’s have the discussion so you know your choices and the potential consequences and benefits of those choices. Remember there is never any pressure or fee to have the conversation with me or my associates.
Thank you in advance and we look forward to working with you.