Institutional Sales cuts

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Anonymous said:
Consider yourself lucky that you can get out if you choose (or are forced out). The beauty of getting out sooner rather that later is the interest rate environment we are currently in. With the rates so low your lump sum is at it's highest point. If rates go up (even a little bit) it could mean hundreds of thousands of dollars less for you and suddenly you realized you worked 2 or 3 years for nothing. Start interviewing financial advisers, weed through the bad ones till you find a good one you can trust. Good luck and congratulations on making it to retirement eligible. Life is too short to be miserable my friend.
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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
 




Anonymous said:
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
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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
 




Anonymous said:
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
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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!
 




Anonymous said:
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!
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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?
 








Anonymous said:
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?
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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!
 








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




















Anonymous said:
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!
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Unless we take over AZ. They have IR as well.
 




















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