Beware the Poison Pitch: How Seniors Are Still Being Targeted

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Beware of the poison pitch. I have been going after scams and frauds and long time, 26 years on air, much earlier than that when we started Markowski Investments. Remind everybody that was originally what we did. We went out to help people that were victimized by the Jordan Belfort’s of the world, the penny stock firms. And we had an account repair kit, which we still have talking about rebuilding accounts.

But what I’m seeing now, again, it’s it’s back. The attacks on senior citizens are picking up again. The pitches are still pretty much the same that they were 10 years ago, 20 years ago, 30 years ago. I’ve highlighted some of these and some of the things that we have.

gone after over the years. And I want to share with you some of the things and what to look out for. We uncovered this. Listen, assume you are selling to a 12-year-old who is blind yet smart. This is how an insurance marketing company, this how they were instructing their advisors.

advisors, know, the insurance companies will send them to these classes on how to deal with senior citizens that attend the seminars that they put together. And I am getting old because I’m getting invited to a lot of these seminars now. Getting invited to a lot of these things. The one call close instructs advisors to probe and disturb attendees by asking them questions.

that will sooner or later lead them to reveal their financial fears, which will help close the sale. Quote, probe, then disturb, then enhance the problem. Remember, they’ll change when you hit their fear, anger, and greed buttons. That’s always been the case. And that was a first week training program when I started working on Wall Street, teaching you greed and fear buttons.

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One other one here. This class being taught to insurance agents. They’re taught to intentionally terrify seminar attendees. They instruct the insurance salespeople and advisors to rely on stories, talk about the Great Depression and ask seniors if they can recall what happened to individuals who had funds in banks. Again.

Don’t mention that the FDIC protects bank deposits today. Again, most of the advice is horrible.

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And then this is what they tell them as well. While we are waiting for the monies in your CD to be transferred to the insurance company, I would like that you not mention a word of this to your kids. It’s part of the training program. Here’s another one. Piece of pie strategic coaching. Basically, this guy’s

talks about his proudness in selling financial products. Tactic, the company wants to teach insurance agents and advisors to begin a relationship that in a short time makes the prospect feel uncomfortable discussing any financial matters with their current advisor. After getting a senior assistant to attend a workshop that is scripted to a word, the objective is to terrify the prospective victim.

According to the website, after the second meeting in the three meeting process, the client is usually mortified 100 % of the time. Valid objections of prospects, such as liquidity, safety, and surrender charges, will not be problematic after the piece of pie system surrender charges, getting them to basically swap out of annuities and pay extraordinarily high fees. And the system used to dupe senior citizens of leaving that they were acting in their

best interests.

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Here’s another one.

They’re offering salesmen with ghostwritten books. They’re basically falsifying authors and experts and financial planning for their demographic. These people stand up in front of senior groups, hold up a book with their picture on it and say they wrote it. They’re basically telling people that they’re an expert and they wrote the book and they’re not. paid twenty five hundred bucks to get their name.

onto things. And again, this is here, there, and everywhere. Not to mention the fact, okay, that, you know, they’re collecting more and more information in a myriad of different ways. I don’t care if you’re, it’s your doctor, I don’t care what it may be, they start asking you about how much money you make, or what’s your bank account size. Don’t answer the question. Don’t, it’s just, it’s a lot.

of data mining is what it is and you will be targeted. Again, they have all sorts of leads that people can buy and they were actually, I we uncovered, what was it? Bank of America back in the day was actually buying lists of senior citizens that were in the early stages of Alzheimer’s and dementia. Annuities as well, people being sold.

Annuities and not understanding that certain annuities, know They think that they’re gonna start getting a check, but they don’t realize that there is a holding period before that check Starts coming in on a regular basis. I can go on and on and on Do your homework Okay It’s easier to do that nowadays and ask for help Ask for help if you have questions said get to our website

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contact us. That’s what we’re here for. That’s what we’ve been doing for a very long time. Watchdog on wallstreet.com