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  #1  
Old 04-01-2018, 01:37 PM
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LittleDog LittleDog is offline
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Question Paraday

I have noticed a lot of newspaper ads for this company as well as billboards. This has got to cost a pretty penny. I was playing golf with a person who had on a Paraday visor and shirt. I asked her how they could afford all those ads. She said they had many clients so could afford it. How many can they have when they are just a local company? She also told me that those seminars are free for attendees.

I do not have any investments with this company and if I did I would be a little concerned where they were getting all this money for those ads. Just curious.

John
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  #2  
Old 04-01-2018, 02:59 PM
Wiotte Wiotte is offline
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Default Paraday

Quote:
Originally Posted by LittleDog View Post
I have noticed a lot of newspaper ads for this company as well as billboards. This has got to cost a pretty penny. I was playing golf with a person who had on a Paraday visor and shirt. I asked her how they could afford all those ads. She said they had many clients so could afford it. How many can they have when they are just a local company? She also told me that those seminars are free for attendees.



I do not have any investments with this company and if I did I would be a little concerned where they were getting all this money for those ads. Just curious.



John


Do a search on the commission rate for annuity brokers, then you’ll know how he can afford those billboards.
Broker 1 Retiree 0

BTW, annuities are not investments.

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  #3  
Old 04-01-2018, 03:08 PM
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manaboutown manaboutown is online now
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Life insurance and annuity peddlers...I just checked their website. They have a "Paraday Learning Lounge" for their "seminars". lol
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  #4  
Old 04-01-2018, 06:08 PM
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vinricci vinricci is offline
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Went to one of his seminars a while back. Not impressed. Each table is seeded with one of their present clients. Presentation never mentioned what Parady actually did with your money, instead it repeated ad nauseum how several Christmas's ago Mr Parady used the co pa you credit card to pay off several peoples layaways. When I asked the couple seated at our table who had been Parady clients what was being done with their money, they had no idea but they liked him.
  #5  
Old 04-01-2018, 06:36 PM
biker1 biker1 is offline
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I have been to a few of their seminars. I did not find the content particularly deep and it is clearly aimed at making people comfortable with the organization (but I am always looking for detailed presentations). They bring in a fair number of guest speakers. They primarily sell annuities and insurance but also have a financial advisor business at what I believe is an above typical percentage fee. The commissions on annuities can be pretty attractive and that can fund a lot of efforts to attract even more new business. I suspect they are pretty good at analysis of your financial situation and showing you that annuities will be appropriate. The real question is do you want to use annuities and insurance - there are other options. Their chocolate chip cookies are pretty tasty. I am not a customer.

Quote:
Originally Posted by LittleDog View Post
I have noticed a lot of newspaper ads for this company as well as billboards. This has got to cost a pretty penny. I was playing golf with a person who had on a Paraday visor and shirt. I asked her how they could afford all those ads. She said they had many clients so could afford it. How many can they have when they are just a local company? She also told me that those seminars are free for attendees.

I do not have any investments with this company and if I did I would be a little concerned where they were getting all this money for those ads. Just curious.

John
  #6  
Old 04-02-2018, 05:16 AM
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They are annuity salesmen selling high commission products. The only person an annuity makes sense for is a compulsive gambler who will go through all their money unless it is tied up where they can get at it. Or someone who knows for a fact that they will far outlive the actuarial tables for their current age. And the biggest downside is your investment money is now tied to a single insurance company. Zero diversification.
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  #7  
Old 04-02-2018, 05:52 AM
mrf6969 mrf6969 is offline
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My Villages investment counselor has several hundred clients, has a modest home, does drive an upscale car. He does not take lavish vacations and is a personal friend. I asked him about Parody not long ago. He said he really could not ethically comment but only winked and stated, "yes it does make one wonder how they can afford their high priced advertising".
For me I think this Parody outfit has found a soft target.
  #8  
Old 04-02-2018, 06:16 AM
biker1 biker1 is offline
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It goes beyond that. Some people just want a guaranteed income stream and annuities are one way to generate that. Diversification can be achieved through multiple annuities. I doubt those who have annuities have all of their money tied up in them so there will automatically be some diversification. They are not a vehicle that I would use but I can see how they might be attractive to some.

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Originally Posted by l2ridehd View Post
They are annuity salesmen selling high commission products. The only person an annuity makes sense for is a compulsive gambler who will go through all their money unless it is tied up where they can get at it. Or someone who knows for a fact that they will far outlive the actuarial tables for their current age. And the biggest downside is your investment money is now tied to a single insurance company. Zero diversification.
  #9  
Old 04-02-2018, 06:29 AM
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karostay karostay is offline
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Quote:
Originally Posted by LittleDog View Post
I have noticed a lot of newspaper ads for this company as well as billboards. This has got to cost a pretty penny. I was playing golf with a person who had on a Paraday visor and shirt. I asked her how they could afford all those ads. She said they had many clients so could afford it. How many can they have when they are just a local company? She also told me that those seminars are free for attendees.

I do not have any investments with this company and if I did I would be a little concerned where they were getting all this money for those ads. Just curious.

John
I've been wondering that myself great question
Billboards all over the place ,full page newspaper adds
Tv exposure ,Store front offices and Villages rent isn't cheap.
Money is coming from someone somewhere
Like to hear a clients prospective
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  #10  
Old 04-02-2018, 06:32 AM
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l2ridehd l2ridehd is offline
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Quote:
Originally Posted by biker1 View Post
It goes beyond that. Some people just want a guaranteed income stream and annuities are one way to generate that. Diversification can be achieved through multiple annuities. I doubt those who have annuities have all of their money tied up in them so there will automatically be some diversification. They are not a vehicle that I would use but I can see how they might be attractive to some.
So I divide my funds by 4 and get 4 annuities. That is still VERY limited diversification. Any decent mutual fund will have 30 to 100 stocks and the same number of bonds. Take 100K and one puts the money in an annuity and the other into say Vanguard Wellington fund. Person A has one, maybe two insurance companies. Person B has 50 plus stocks and even more bonds. Look at the rate of return for both products over the past 30 years. Pretty close. And the person in Wellington leave 100K plus to his heirs where the person with annuity has zero. And in my opinion, Wellington by itself is no where near diversified enough.

I personally see almost no situation where an annuity is a good option for anyone except the person selling it. Again, a gambler, someone not capable of managing any money, or someone who has a family history of over 100 year old relatives. There just is no good case to be made for them. Probably less then 1% of the retired population should be in an annuity.
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