403(b) Agent Offers 10% Bonus, Free Lunch and Guaranteed Returns

For those of you who think ASPPA’s position that advisors shouldn’t be fiduciaries I present the #1 Midland National sales rep in Arizona for 403(b)’s. He promises the following on his Facebook page “Is your stock account dropping like a rock? Our accounts have NEVER lost 1 penny for anyone. Come into Cameron Financial Group today and put a turnakit around the bleeding. We can GUARANTEE you 7% on ALL your money for the next 10 years!!!”

So there you have it – its that easy to earn 7%. Here is a recent flyer from the same group left at a district office for teachers and school employees. This is what ASPPA now endorses and what Brian Graff wants to fight to protect. Is this really what ASPPA wants to support? Should our school employees really be subjected to this non-fiduciary behavior?

Think this guy is a fiduciary?
Kindle

6 thoughts on “403(b) Agent Offers 10% Bonus, Free Lunch and Guaranteed Returns”

  1. With all the commissions this jackass is getting off his clients in addition to what I suspect is an expensive and long-term surrender fee schedule plus the internal expenses of whatever type of insurance/annuity product he’s pushing, this lunch definitely ain’t free.

    I don’t know which is worse, people like this calling themselves advisors or the poor people that fall for his pitch.

    Besides this guy clearly not being a fiduciary, he should not be allowed near anyone’s money.

    Thanks for exposing the crap, Scott, but man it pisses me off.

  2. Nice post! Safe, guaranteed, no risk, and no cost! I’ve been working with 403b participants in TX since 2005…slowly but surely convincing the masses that there is a better way. Kind Regards, MDP

  3. I love the disclosures on the brochure! I would have ordered a filet mignon instead for lunch and tossed a banana peel under his shoes. Poor teachers! unreal..keep getting the good word out Scott. Sincerely..Nick

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