Open MIC 3-17-16 Stock Market Manipulation

By | 2016-03-20T23:10:33+00:00 March 20th, 2016|Uncategorized|

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Editorial—Op Ed 

 Nothing will be more important for our industry and our product (FIA) than the information in the article enclosed.  It clearly explains why FIA will sky rocket and why we are all in the Cat’s Bird Seat.

I am not sure exactly how to frame this Op-Ed piece, I can’t remember when I have found anything regarding the stock market as distressing as this.  What we have all assumes as a free market economy where each of us could invest in American companies is just not so.  The article below clearly shows why and how the market has been propped up and what is keeping it from total decline. This is legal manipulation at its absolute worse.

Just like in the book, The Big Short, everyone was betting on status quo, keep the market flowing, always up.  Blomberg has clearly stated just exactly why the market has increased and the reason for it.

When the banking collapse occurred in 2008, the interest offered by the Federal Reserve dropped to almost nothing in an effort to stabilize the economy.  So many big companies have taken advantage (legally) from the low interest rates to maximize profits, build monstrous cash reserves, and to offer bonds at record low interest rates.

Here’s a breakdown of the cash reserves of American tech companies:

Apple: $178 billion

Microsoft: $90.2 billion

Google:  $64.4 billion

Cisco: $53 billion

Oracle: $44.7 billion

CNNMoney First published May 11, 2015: 1:38 AM ET

What did they do with the money they raised?  Build factories?  Hire more workers?  Grow the economy?

Congress set the table, the Federal Reserve served the main course and big American companies are eating until they burp.

This is possible the scariest thing I have ever read about the securities industry. If this is true, and I believe it to be, then it sets up our industry for a long long long run.

The single biggest reason the stock market has been artificially supported is because of corporate stock buy backs.

Why wouldn’t a company buy back its stock when interest rates are so low, almost any company in a growth cycle could issue bonds at extremely low interest, and use the money to re-purchase their own stock.

Does it get any simpler? Pay peanuts on bond interest issues, gain on stock valuation increase. Is this a license to print money?

Here is the question of the day. What happens when this artificial support lessons or stops all together? A giant BEAR market is what we will have.

The enclosed article from the most respected source I use (Bloomberg) says just that, the market is being propped up.

If we enter a Bear cycle and stay there, FIA will be the darling of the financial world, but along with that will come more restrictions on income riders and payouts. We just can’t have it both ways.

The enclosed article from Bloomberg is a fantastic insight into how markets can be manipulated by the simple act of a company buying back its own stock, I have made notes for you and marked important parts in red.

I think this article is worth studying and using, it says way more than anything I have read in a long time, I think it is the MOST important article I have read in the past year..….BB

(Click here and watch the video)


There’s Only One Buyer Keeping S&P 500’s Bull Market Alive

March 14, 2016 • Bloomberg News

Demand for U.S. shares among companies and individuals is diverging at a rate that may be without precedent, another sign of how crucial buybacks are in propping up the bull market as it enters its eighth year.


This next part is absolutely crucial…BB

Standard & Poor’s 500 Index constituents are poised to repurchase as much as $165 billion of stock this quarter, approaching a record reached in 2007.

The buying contrasts with rampant selling by clients of mutual and exchange-traded funds, who after pulling $40 billion since January are on pace for one of the biggest quarterly withdrawals ever.

Look at the fund outflows above in blue since January 2015

While past deviations haven’t spelled doom for equities, the impact has rarely been as stark as in the last two months, when American shares lurched to the worst start to a year on record as companies stepped away from the market while reporting earnings. Those results raise another question about the sustainability of repurchases, as profits declined for a third straight quarter, the longest streak in six years.

“Anytime when you’re relying solely on one thing to happen to keep the market going is a dangerous situation,” said Andrew Hopkins, director of equity research at Wilmington Trust Co., which oversees about $70 billion. “Over time, you come to the realization, ‘Look, these companies can’t grow. Borrowing money to buy back stocks is going to come to an end.”’


Volatile Year

While it’s debatable whether the involvement of retail investors is necessary for stocks to advance, it can’t be disputed that markets have become more turbulent in 2016, with the Chicago Board Options Exchange Volatility Index hovering at an average level that is 32 percent higher than last year.

The S&P 500 has posted daily swings of 1 percent or more in 26 of 48 trading sessions since December, a rate that if sustained would make 2016 the most volatile year since 1938.

Seven years of earnings growth has left chief executive officers flush with money to spend. Non-financial companies in the S&P 500 held more than $900 billion of cash on their balance sheets at the end of 2015, up from $870 billion a year earlier.

Companies executing repurchases through Bank of America Corp. have bought about $9 billion of shares in 2016, the second-busiest start to a year since the bull market began in 2009, the bank said in a research note last week. Other trading clients have been net sellers, with hedge funds leading the pack, dumping $3.5 billion.

Record Buybacks

Assuming Bank of America maintains a roughly 8 percent share in the total buyback pool since 2009 and the pace of transactions lasts through the end of March, corporate repurchases may reach $165 billion this quarter, data compiled by Bloomberg show.

That would bring the 12-month total above $590 billion, an amount that’s higher than the record $589 billion in 2007.

“Corporate buybacks are the sole demand for corporate equities in this market,” David Kostin, the chief U.S. equity strategist at Goldman Sachs Group Inc., said in a Feb. 23 Bloomberg Television interview. “It’s been a very challenging market this year in terms of some of the macro rotations, concerns about China and oil, which have encouraged fund managers to reduce their exposure.”

Should the current pace of withdrawals from mutual funds and ETFs last through the rest of March, outflows would hit $60 billion. That implies a gap with corporate buybacks of $225 billion, the widest in data going back to 1998.

Kostin said companies tend to enact a blackout period and restrict share repurchases in the month following the end of a calendar quarter, and come back once they’ve reported results. In a market where everyone else is selling, the ebb and flow of corporate actions have amplified volatility. The S&P 500 slumped 11 percent in the first six weeks of the year before staging a rebound that has since trimmed the drop to about 1 percent. The benchmark gauge slipped 0.4 percent at 9:55 a.m. in New York. (here is a perfect example of how the market in manipulated (legally) from the buyback rules….BB)

That companies continue to boost buybacks amid turmoil is a sign of confidence and the stabilization in stocks is likely to draw investors back, according to Joseph Tanious, an investment strategist at Bessemer Trust in Los Angeles, which oversees more than $100 billion.

“I’m willing to bet that after the rally we’ve had in the last few weeks, fund flows will follow suit,” he said. “You might see investors begin chasing that type of performance.”

Credit Conditions

S&P 500 companies have churned out more than $2 trillion of repurchases since 2009, helping sustain a rally where share prices almost tripled. Bolstering the outlook for debt-financed buybacks, credit stress has eased since February, with the extra yield demanded on investment-grade bonds over Treasuries narrowing by 36 basis points.

The growth rate of buybacks is slowing as profits are poised for a fourth quarter of declines. After rising an average (read this, what do you think is going to happen…BB) 37 percent in the previous five years, repurchases grew less than 4 percent in 2015. During the last two decades, there have been two times when earnings contractions lasted longer than now. Both led companies to slash buybacks, with the peak-to-trough drop reaching an average 62 percent.

While companies haven’t started tightening the purse strings yet, there are signs their ability to keep the market aloft is diminishing. Since reaching an all-time high in May, the S&P 500 has lost 5.1 percent and suffered two declines exceeding 10 percent.

Companies repurchasing the highest percentage of their shares have fared worse, dropping 9.1 percent.

“It’s definitely not sustainable that the only buyer is companies themselves,” said Vikas Gupta, Mumbai-based chief investment officer who helps oversee more than $8 billion at Arthveda Capital. “A lot of money needs to come back to the market. I’m just not sure if it’s going to happen next week, next quarter or in a year. That’s the part that’s unclear.” 

What is clear to me is that our product is going to be the “go to” product for the Baby Boomers…   “dead mortal cinch” (as my Dad used to say)….BB 





Senator Ron Johnson Moves to STOP Fiduciary Rule 


Dear Kim:  We’re still pressing hard on the fiduciary rule.  A link to the letter text and a press release with background on the letter are below.  Thank you for all of your help. 


Carol E. Foster

Legislative Assistant

Office of U.S. Senator Ron Johnson (WI)

Phone: (202) 224-5323

Fax: (202) 228-6965


Click  here to sign-up for Senator Johnson’s weekly newsletter



From: Palke, Brittni (HSGAC) On Behalf Of Press, HSGAC (HSGAC) Sent: Monday, March 14, 2016 1:28 PM Cc: Palke, Brittni (HSGAC) <>; McIlheran, Patrick (Ron Johnson) <> Subject: Johnson Continues Oversight of DOL Fiduciary Rule Process


For immediate release: March 14, 2016



Brittni Palke (202) 224-0382

Patrick McIlheran  (202) 228-6958


Johnson Continues Oversight of DOL Fiduciary Rule Process


WASHINGTON – Sen. Ron Johnson (R-Wis.), chairman of the Senate Homeland Security and Governmental Affairs Committee, sent a letter on Friday to Office of Management and Budget (OMB) Director Shaun Donovan and Office of Information and Regulatory Affairs (OIRA) Administrator Howard Shelanski regarding the OIRA’s review of the Labor Department’s fiduciary rule. In the letter, Johnson urged the OIRA to uphold its regulatory review obligations and to enforce the stringent standards for the regulatory process as set by multiple executive orders. Johnson urged the OIRA to return the rule to the Labor Department if the Labor Department did not remedy the deficiencies in the proposed rule that was released in April 2015.  

“The Labor Department’s rule is complex and overly burdensome and would harm low- and middle-income investors by raising the price of investment advice,” Johnson said.  “I hope the Office of Management and Budget thoroughly reviews the rule and does not rubber-stamp this regulatory overreach by the Obama Labor Department.” 

Johnson released a staff report in February 2016 that found that the Labor Department’s proposed rule did not comply with the requirements of Executive Orders 12866 and 13563.   From documents produced to the committee, Johnson found that the Labor Department failed to conduct a quantitative analysis of alternatives to the rule and did not adequately incorporate advice from other government experts at the Securities and Exchange Commission and Treasury Department. The documents show that the Labor Department sought to “build the case for why the rule is necessary” by identifying data that can be woven together “to demonstrate that there is a market failure and to monetize the potential benefits of fixing it.”  

Johnson’s letter can be found here.  The staff report can be found here.





More: Genworth saga

Genworth to settle suit over CEO disclosure for $219 million

Mar 13, 2016 | By Emma Orr and Lily Katz

Shareholders criticized the company’s LTCI disclosures. (LHP/Allison Bell)

(Bloomberg) — Genworth Financial Inc. (NYSE:GNW) agreed to a $219 million settlement to resolve a lawsuit brought by shareholders who accused the insurer and Chief Executive Officer Tom McInerney of securities violations tied to disclosures about the money-losing long-term care insurance (LTCI) business.

The company’s insurers will pay $150 million and Genworth will pay $69 million, the Richmond, Va.-based firm said in a statement Friday.

McInerney told investors in late 2013 that Genworth had adequate reserves for LTCI policies, which cover costs for home health aides and nursing home stays. The stock dropped 45 percent in 2014 after a review found that the company had underestimated the costs.

The insurer has said the claims in the lawsuit lacked merit. Genworth is “settling the lawsuit to avoid the burden, risk and expense of further litigation,” according to the statement.

The insurer’s payment is expected to be made into an escrow account this quarter, Genworth said. The company also said that legal fees and other expenses tied to the litigation will cost about $10 million pretax in the period. 


Attention: here is a great opportunity for you.

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$8 a lead for older leads. Any serious agent would give Kriss a call and see if a marketing opportunity is possible.

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We have a long history with Kriss, she does a great job.

Her website is below.


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2016 tax summary

Has RMD table also


Sales and Marketing

Here is a great marketing opportunity that will open new doors to a new market for you.  This will be the Retire Village drip next week.  Did you know this was International Women’s month….BB 

Women are Not Equal to Men in Retirement

A recent report from National Institute on Retirement shows shocking results regarding women in retirement. The report that women in retirement are 80% more likely than men to be impoverished.

The reasons are obvious, throughout a women’s working life their income is lower, less is contributed to Social Security for retirement and women live longer than men.

The study found that at all age groups women have substantially less income in retirement than men. For women age 65 and older, the data indicate that their typical income is 25% lower than men.

As men and women age, men’s income advantage widens to 44% by age 80 and older. Consequently, women were 80 percent more likely than men to be impoverished at age 65 and older, while women age 75 to 79 were three times more likely to fall below the poverty level as compared to men.

These findings are contained in a new report, Shortchanged in Retirement, The Continuing Challenges to Women’s Financial Future.

Here is the link:

Key points in the report showed:

  • Widowed women are twice as likely to be living in poverty than their male counterparts.
  • White and black women are almost twice as likely to be living in poverty than their male counterparts during retirement.
  • The median value in women’s Defined Contribution (pension) retirement accounts was one-third less than that of men.
  • Women who are widowed, divorced, and over age 70 rely on Social Security benefits for a majority of their income.
  • Black women rely largely on Social Security, while women of other ethnic groups also rely on wages to a large extent.


The report suggested several recommendations to help change the balance for women in retirement:

  • Strengthening Social Security benefits for women.
  • Increasing retirement plan coverage through auto enrollment in individual retirement accounts (auto-IRA).
  • Expanding utilization of the Saver’s Credit.
  • Increased development of state-sponsored savings plans.
  • Increasing defined contribution plan eligibility for part-time workers.
  • Providing spousal protections in defined contribution accounts.
  • Expanding defined benefit pension plans.


Women face a more difficult time saving for and earning retirement than men.

Please take a few minutes to view our video: Annuity Investing for Women:

Use the video to market directly to your female prospects.




Volatility and Longevity

That old saying, “the longer you live, the longer you live” seems to be much more pertinent.  As humans, American are living longer which translates to more time in the retirement portion of our lives.  Those of us looking for ways to continue our life style are faced with low interest rates and few options for a higher yield.  This is especially true when any opposition to market risk becomes a major part of the equation.

For several years we have had few choices of anything other than low interest rates and recent information form the Federal Reserve indicates interest rates may be even lower in the future.  All around the globe interest rates are low and in some economies (Japan) interest rates are not even zero, they are negative.A look at the stock market on any given day through the eyes of the nightly news shows what a complete mess it is perpetually in. This all adds up to real issues for those who are in retirement or soon to be. The idea of a “conservative” portfolio approach to retirement planning clearly has it’s draw backs.  A recent report from Wells Fargo clearly stated that being fully dependent on a bond approach to retirement might be an error.


For many in retirement the fear is not the yield (or lack of it) it is far worse, it is the fear of running out of money.  Being elderly and broke is about as stressful as it can get. For many retirees turning towards an “outsourced” method of retirement planning does have appeal. The selection of retirement management of funds through an annuity is a prime example of outsourcing, an idea gaining huge in popularity.

Many times in my columns I have discussed the advantages and disadvantages of annuities, now in looking at the cloudy future, the upside is far greater than the downside.

The downside really is just three things:

  1. Someone else gets to hold your money.
  2. Interest rates might peak and the annuity you selected might lag behind.
  3. Inflation, what happens if inflation eats away from spendable dollars?

These are very real considerations, however when you consider the advantages the decision becomes clear for most.  Annuities can provide income which a person (and spouse) can never outlive.  Annuities are conservative.  Annuities are guaranteed. Annuities are free from market risk.

Your decision to buy an annuity should not be made lightly, annuities are longer term commitments. Even though many banks offer and sell annuities, it is important to remember that an annuity is not guaranteed by any banking organization and they are not insured by the FDIC.  Annuities are insurance products and are regulated by each state department of insurance.

Annuities are also hard to understand by some people, the simple explanation is this, the insurance company holds and uses your money and in return provides you with contractual benefits.  It is as simple as that.  The key is the benefits, do they match up with your specific goals and desires?

Annuities sold by insurance agents are risk management vehicles, not portfolio growth vehicles.  If safety and security are important to you, an annuity might be able to help.  Ask questions, get a second opinion and make sure the annuity is exactly what you want it to be.

Questions this week regarding leads.   BTW…Thanks for the questions, they help all of us!


Nice share from Dwayne Hiltner Q:  Bill, I was in the bank the other day and there was a sign saying to ask about the new annuities they offered tied to the stock market but no downside, it was our product, what is going on?

A: For years we have been saying that the day is coming when the world would discover our product.  We went through criticism form BD, banks would not touch anything like that etc.   Well, the worm has turned.

The simple reason why it is good for us is this…..the more people being exposed to FIA means the more mainstream it will be, which is good for us.

Q:  Can we compete with the banks and the BD?  How can I as an independent agent ever compete with big banks?

A: The question should be asked in reverse; how can they compete with you?  Is that a silly answer, no, it is a very solid point, how can they compete with you?  The underlying answer is they can’t. Banks and BD cannot compete with us (using our system) because of our system.


Think about banks, what do you see when you are in the bank and standing in line?  You see interest arte offers and other services being offered.  Banks peddle product!

Banks sell products, period.  They pitch product first and last, that is their culture.

No examine a broker dealer, how do we compete with them, they have offices, they have latte machines, they have staff, how can we compete?

A: Put things in perspective, how are they able to afford that overhead?  How can they maintain their latte machine?  They must have sales that generate income every year, mutual funds with 12 b-1 fees, assets under management, managed accounts, new stocks subscriptions, buying and selling is their life blood and their only life blood.

What are FIAs?  Are they constant buy and sell?  No, they are long term buy and hold, exactly what the broker hates most, something that is not a continual fee machine.  

The only reason brokers are even selling our product is this:  the consumer is now demanding it; it is either provide the product or lose the business.

The last thing a broker wants to sell is a FIA! 

Now think of our and your approach to selling.  Do we offer product?  Do we offer latte?  Do we need to have reoccurring sales from the prospect?


We sell based on need and not on product, it is as simple as that.

Am I worried about the banks and BD increasing sales and becoming a strong competitor to me?  No, because they are not a competitor, they are the spear of the sword who is lining up zillions of prospects for me BECAUSE I don’t sell product, I sell needs based on the bets approach of all:

Fact Finding.

Every time they peddle a product, my business increases so more power to them, I hope their FIA sales double, triple and go to the moon, mine will be far ahead.

Hooray for them!

Anthony has more.


Big Truck Brothers

Hello Partners,

As I have said several times on Open Mic, the biggest threat to your business on a competitive basis is BD’s and banks embracing our business.  FIA sales up 30% for banks and 6% for BD’s (See attached article).  As an independent FIA income planner the sustainability of your business will be based on capitalization, marketing, case design, and sales process.

Capitalization: You need to have enough float in your personal and business accounts so that you can buy marketing in a way that you are calendar focused, not expense focused.  In other words, your only concern should be to fill the calendar, not the cost of the marketing.  A minimum of $100,000 in your personal account and $100,000 in your business account is an adequate float to put all your payments on auto pay so that you can focus 100% of your attention to monetization.

Marketing: You need to have more prospects than you can possibly get to and that typically must be done with a multi-faceted marketing strategy.  A combination of Radio, internet, workshop and/or drip systems will typically supply enough leads in any market to oversupply you with leads.  Your goal should be to get capitalized as quickly as possible so you can spend a minimum of $100,000 per year on marketing.

Case Design:  Proper case design is imperative for high average case sizes and closure rates.  Your case size and closure rate are key to efficiency, which is your ability maximize revenues from marketing expenses.  The foundation of case design is a comprehensive fact finder.  You can’t use information you don’t know about!  If anything, the case design sales process is probably the most important thing you can perfect in your business.  It takes almost the same amount of effort to sell a $100K FIA to a client with $1 million as it does to sell a $700K FIA to the same client but the financial impact to your business is devastating if you don’t sell the larger case.

Sales Process: A great case design is only as good as your ability to sell the solution to your prospects.

A focus on selling concept and getting your clients to buy concepts is an imperative segue into selling the 5 Step Sales Process:

  1. Sell the Fact Finder – Prospect Buys the Fact Finder
  2. Sell the Problem – Prospect Buys the Problem
  3. Sell the SolutionClient Buys the Solution (This is the point when you want your “Prospect” to transition to “client” status, not at the close!)
  4. Explain & Sell How the Product Supplies the Solution – Client Understands
  5. Close

A broker at a bank or with a BD will NEVER be able to operate with a Capitalization, Marketing, Case Design, and Sales Process the way and independent agent can.  They are limited by compliance, availability of product, intentional and/or accidental ignorance, and/or lack of innovation in the corporate or BD environment.

That being said, the sheer scale of the bank and BD world will squash the unestablished FIA agent with overwhelming competition and the perceived “credibility” of their institutions.

What are you doing today to be permanently established in this business tomorrow?

Thanks for the biz!

More: Nice share!

Ran into this yesterday. Broker with Ray James was proposing a SPIA/FIA income plan all with NY Life for nearly $1m. I used my knowledge to turn this situation around in my favor.

This was a generic planner, with generic products and a generic income plan. He didn’t need to put in 1m either. Matter of fact he only need to put in $300,000!… and an hour later I was doing paperwork on the client and saved him from a HUGE, HUGE mistake.

I tore this broker to pieces for making such a clueless recommendation.

He was careless and focused on comps clearly. Be an income planner people!







March 14th, 2016




Every week, we send you an update with any recent, important carrier changes to help you prepare for your week ahead so you’ll know exactly which carriers to be mindful of. Only those carriers that have changes are listed. Any interest rate adjustments, product changes and even new state product approvals are included with links to receive complete details.






Effective March 19, 2016 Athene Annuity will be making significant product enhancements to the Benefit 10. First, the penalty free withdrawal amount will be increased to 10% in all years, including the first year! Athene will also be increasing the Enhanced Benefits Rider True-Up Period from 5 to 10 years. And lastly interest rates and caps will be adjusted. Please click here for additional details.



F&G has extended their 5 year MYGA rate of 3.15% until March 18th.



Effective Monday, March 14, 2016 Legacy Americo LibertyMark and LibertyMark SE will now have available an optional enhanced death benefit rider.  The new heritage maximizer rider is available with non-bonus products only.  This rider will provide a death benefit that is 130% of the entire accumulation value with a current annual charge of .30.  If you have additional questions feel free to give First Annuity a call.  See the State Approval Matrix for availability of these features in your state! For additional information, please view the Heritage Maximizer insert and updated LibertyMark product training.


National Western

REMINDER!-NWL has a 1% commission incentive for all agents on cases received between February 15, 2016 and March 15, 2016. The policies need to be issued and paid by April 15, 2016. This incentive excludes Prevail Seven and all SPIAs.






Effective immediately, Athene Annuity is running a commission special on the industry’s #1 accumulation annuity, the Performance Elite Series. From now until April 8th, 2016 earn up to an additional 1% on all qualifying Athene Performance Elite production. Please see here for additional details.



F&G will be reducing the rate on their MYGA for all business received after March 11th.  Current rate is 3.15%, the new rate has not been determined yet.


North American

North American has announced a rate decrease on their RetireChoice and IncomeChoice products effective March 4, 2016.  Click here for a PDF file of the latest interest rates.










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If you are not using this “Free” resource you are missing out….did I mention it is free?


There is a ton of info here, it requires no password and it is up to date information.




David Townsend and I own, but we have a lot of marketing friends, friends that you might be better off if you knew them.  Sherilyn Orr at Retire Village and Infofuel, Anthony Owen at Annuity Agents Alliance, Kevin and Allison at FinAuction, Carl, Darin Tom and all the crew at First Annuity….and many more.


My opinion and/or numerous sources complied by me are used in preparing Open MIC.


I obtain information from many sources, print, internet, agent gossip and other media. I always try and provide the original source or the link but my note taking habitually is lacking.


Much of the content on Open MIC is written by me and is my personal opinion. You should never consider that I am an authority or expert on anything. Always consult professionals who are licensed to give correct advice regarding taxes and securities and other topics of great importance.

I probably know more than the average agent when it comes to marketing annuities and am fully licensed as an insurance salesman. I sell state approved annuity products provided by licensed insurance companies.

I am also NOT an economist by license, only by hobby. If you decide to make decisions based on my particular view of the world, you should have the information verified by licensed professionals or get your head examined.


Open MIC is and was created for the entertainment of our agents, family, friends, guests, industry spies and me. Be careful with the information contained in Open MIC and always get advice from licensed professionals. You never know, sometimes I might make something up….so always verify!

Also, the information I create myself and used in Open MIC is free; I assert no copyright or literary rights. Copy away.


Our competitors will copy Open MIC anyway so I might just as well give it away, saves so much mental anguish and sleepless nights.


Although we may promote and/or recommend the services offered by third party vendors, agents are ultimately responsible for the use of any material or services and agree to comply with the compliance requirements of their broker/dealer or registered investment advisor, (if applicable), and the insurance carriers they represent.

More Legal Stuff…

Be responsible… we cannot know your individual situation, always do your own due diligence before responding to any offer or investing any money.

I can’t accept responsibility for the profitability or legality of any published articles or opinions published in Open MIC. Nothing in these Open MIC notes should be considered personalized advice. Although I may answer your general questions, I am not licensed under securities laws to address your particular situation. No communication by me to you should be deemed as personalized advice.

And, although all of the articles have been selected for their content, however in the interests of balanced reporting we often publish articles we may not agree with, the publishing of such articles within Open MIC notes does NOT constitute a recommendation of the products or services mentioned or advertised within those articles.  

Did you know that since 2000, Boise State is 97-6 at home? In the past 10 years, Boise State is the winningest football team in division 1.  124 wins.

We make no compensation for the publishing (or hosting) of Open MIC Notes… fact it costs us for the phone “call in” system…oh well…



About the Author:

Bill Broich
Bill Broich is a well-known annuity expert with over 30 years of experience. He has written hundreds of articles on annuities and other financial topics, and has been a featured commentator on TV, Radio and the Internet. To follow Bill's profile, click here.