Institutional Sales cuts

You nailed it. I went out on 12/31/11 as WYE legacy so had a nice lump sum and got the WYE retiree health plan although just got a booklet of gibberish yesterday saying ALL retirees will be on the PFE health plan staring in 2015. I guess I'd better get out the KY Jelly.

PS - I interviewed 8 financial advisers and asked each for a proposal based on a guess of my lump sum. The worst was Fidelity. I exclude them immediately. They LOVE annuities and Mutual Funds which benefit them more than you. 2 LPL guys tried selling me an annuity - one for 60% of my lump, one for 30%. They get an insane commission on an annuity. No thanks, it's dead money. I narrowed it down to 2 of them and I'm very happy. Still have a balance of more than I started with and drawing 6.5% income after his fees - plus every single bit of it is liquid or TOD as opposed to annuity.

Start early, don't sign anything until you've talked to several people and good luck...

 

unless you are a financial idiot with no self discipline, take the lump 100% of the time

consider

scenario a: dolt reviews figures and likes the larger annuity payout - dolt and wife eaten by sharks first week of retirement…kids get zero

secnario b: take the lump and put most of it in liquid cash like instruments with a bit in bonds. this time former worker and wife are killed in surfing accident…kids get the assets

there's a reason everyone, including the legacy company want you to take the annuity

take the lump

 

Absolutely correct. Annuities are only in your favor if there is a guarantee you will live for 30 yrs after you begin the annuity. Many do, many don't. True, it's fixed income, but you can do the same on your own with your 401K, Ira's etc.
They wouldn't exist if the companies weren't making big profits on them. Take the lump, invest it in some good index funds, and you'll be fine.

 

My first question to any financial genius is whose retirement are you more focused on. Mine or yours. A good honest one is with his weight in gold, the greedy are nothing more than scam artists and parasites. Never forget bernie

 

So true. Finding a good one is golden. Mine's not cheap, but worth every penny. It's a % of my money and that's it. He trades based on what is good for my portfolio (based on my risk tolerance/age/etc). I love people who make decisions based only on fees. You can argue that someone "only" taking .25% is being overpaid!! I also personally prefer someone with a major institution, but that's me. I'm sure there are good independent ones also but you have to be careful. Just because you get a statement doesn't necessarily mean it's all there! Just watch a few episodes of American Greed to see what can happen.

 

It is a shame that you all are still around. From my understanding, you are going to take over Eliquis in the hospitals. BMS is not cutting it and relies on you! I am quite sad to see this happen because there is nothing accomplished aside from what the PHR/DSRs already do. You are welcome for making your quotas!

 

Hey genius, as hospital reps. Eliquis is already our responsibility. You may want to look at some data to see the sales trajectory since IS came on board. All those hospital accounts putting Eliquis on formulary since IS came on board would probably be due to the PC reps. right?

 

Do we know when Zyvox is fully LOE yet? Any word about cuts since they made us cancel dinner programs? What additional product(s) are we getting in 2015?

 

We are going to lose Zyvox in early 2015. We are going to have plenty of work to do with Eliquis and Prevnar. We will also be adding on another product in the future. Be confident in your position as we are finally the place to be! We are the only ones who are fully trained and confident in the hospitals. They need us. Unlike the old days, we now stand apart from others. Trust me, we are solid for a long time!

 

Ha, trust me. Love it!

 

Name 10 big-time hospitals in Chicago, LA, Boston, NYC, Houston, Philly that allow reps in the door.

 

Shhhhh. You're talking about the industry's 3rd biggest secret.

 

Nothing happening. I was with my manager today and he said it's the other divisions that crazy stuff is happening. For once, it is not us!

 

All of them. Just walk in the front door. It's open to the public.

 

Cut this year? Probably not.

 

Unless we take over AZ. They have IR as well.

 

Who has got a call tomorrow?

 

Everyone!

 

All divisions have a call tomorrow . It's call company transparency even if it not a direct effect on you.

 

When is the cluster 2 call?