Annuity Intelligence

Annuity Intelligence Each year over $200 billion in annuities are bought by consumers. member SIPC. PhilMoor Financial Group and Brokers International Financial Services, LLC.

We are here to help educate the public on the pros and cons of products and help them make the most appropriate decision for their goals. Securities and Investment Advisory Services offered through Brokers International Financial Services, LLC. are not affiliated companies. Fixed Annuities are long term insurance contacts and there is a surrender charge imposed generally during the first 5 to 7 ye

ars that you own the annuity contract. Withdrawals prior to age 59-1/2 may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Any guarantees of the annuity are backed by the financial strength of the underlying insurance company. Indexed annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company. Surrender charges apply if not held to the end of the term. Withdrawals are taxed as ordinary income and, if taken prior to 59 ½, a 10% federal tax penalty. Investors are cautioned to carefully review an indexed annuity for its features, costs, risks, and how the variables are calculated. Please consider the investment objectives, risks, charges, and expenses carefully before investing in Variable Annuities. The prospectus, which contains this and other information about the variable annuity contract and the underlying investment options, can be obtained from the insurance company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest. The investment return and principal value of the variable annuity investment options are not guaranteed. Variable annuity sub-accounts fluctuate with changes in market conditions. The principal may be worth more or less than the original amount invested when the annuity is surrendered.

09/04/2020

PhilMoor is launching 2 new services; first is directed to this community "PhilMoor 401(k)" and the second is directed to other financial planners or insurance agents "PhilMoor Legacy". I will explain each briefly and the "why I am launching them".

I have been lucky enough to work at a few different firms since I have been in the business, this enabled me to gather wide ranging view of financial services, how the business works, and some major pitfalls. One glaring weaknesses I have found, and has been confirmed from the majority of my clients and prospects, is the weakness of the service provided from 401k plans.

For most people, the only "advisor" relationship they receive before retirement is from their 401k rep. Arguably, the relationship is most important PRIOR to retirement. NOT ALL REPS ARE BAD. But just because of the nature of that business(meet once per year), its difficult for reps to build relationships with clients. Also, if their rep has built his/her business around 401k plans, that could be hundreds if not 1000s of clients that they represent. From my experience working on plans and hearing from clients, the relationship is almost always very surface level. My goal is to change that.

PhilMoor 401k will provide access to cost saving retirement solutions, that will let business owners typically save $. Employees will receive monthly online appointment registration to schedule segmented time with an advisor, immediate online access to our planning and aggregation portal which can be accessed via smartphone or computer, complementary planning(retirement, estate, insurance), weekly market commentary via newsletter, and the option to get your taxes done at a reduced rate. We are leveraging tech to help create a better relationship. As an employer, this is designed to help you save money and empower your people. If they can clear their heads and reduce fear around money, they will be happier and probably more productive. As an employee or individual, you can build and foster a productive planning focused relationship prior to retirement and have a resource that knows where you are and where you want to go.

Second, "PhilMoor Legacy". I have an extensive insurance background. Most people buy insurance, and rarely hear from their insurance broker again unless it is an policy that gets renewed annually. There are a few issues with this, especially in the life insurance space. Products change, rates change, if you have a permanent policy, the lifetime performance is critical to the original plan. My goal is to leverage technology to change the stigma of insurance servicing. I created a subscription based model in which I will help advisors service their life insurance policies in a systematic predictable way. This includes illustration requests, receipt of premium notices(make sure the clients pay their premium). The option to send comprehensive reviews every 2 or 3 years and replacement recommendations if there is a better solution on the market. This model will help clients stay attuned to their protection needs, plan properly and will provide better client advocacy for advisors.

If you have insurance in place, an haven't heard from your agent, I would be happy to take over servicing and provide a review.

If you know anyone that would benefit from the above solutions, please let me know.

Referrals are always welcome!

03/17/2020

Coronavirus will continue to dramatically influence our every day lives. We are in uncharted waters in the US. We are forced to make changes in our daily activities, family life, work life and school life. The financial markets are reacting. No one can escape the widespread effects of this pandemic. After taking a minute to contemplate the implications, I decided that the best possible thing I could do is attempt to provide financial education to as many people as possible. Actions you take during turbulent periods can have lifelong effects, both positive and negative. My goal is to help you control the fear that may be gripping you, helping you move forward over the next 6 months to year with a clear path.

"Life Insurance By Michael" is dedicated to my life insurance business. As many of you know, I am a fully licensed advisor(series 7, 66, 24). You can see my other page "PhilMoor Financial Group" on Facebook. I have met with hundreds if not thousands of families during my nine year career; ranging from young families to highly successful business people. The one fundamental takeaway I have is, creating a plan and having the discipline to follow that plan separates those who are successful or not.

Over the next 4 weeks, starting on Thursday 3/19, I will be hosting webinars EVERY DAY AT NOON EASTERN discussing what you can do to navigate this unrest with regards to your finances. The topics will vary on given days and will include: taxes, sequence of returns, past history of markets, estate implications of untimely death, protecting assets and others.

These webinars will of course be free and are strictly informational. If you wish to have a more comprehensive discussion, you will have the opportunity to email, message, or call me to schedule some time. You will also have the opportunity to ask me questions during the webinars.

I want to help, and this seems like the best possible thing for me to do. In turn, I need your help. I will be advertising these webinars on Facebook to the general public but word of mouth or sharing my messages will help as well.

These webinars will be run through ZOOM, and I will be posting the registration links to my website along with instructions every day.

If you have any questions, please message me on Facebook, email me at [email protected] or call me at 908.892.6856.

02/04/2020

I was comparing term quote rates for a client this weekend. The least expensive carrier was $x. This policy has extremely limited conversion options, both product and duration.

A policy with the same death benefit, convertible for all policy years, to any product on the carrier platform, was only $6 per YEAR more expensive.

Make sure you are reading the fine print.

If you want a free review of your current insurance, feel free to DM me.

p.s. If you read this, please share it. People NEED to know that their policies could be limited. I have seen this small contractual difference literally save a family's financial future.

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