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How To Transfer an IRA in Only 7 Days By Using a Virtually Unknown Secret That Very Few Agents Even Know." Excerpt from Bill Broich Approach Annuity Selling System.
When you want to move an IRA to your control and it is at a custodial such as a stockbroker or some other controlled situation you can do this to stop the competition from re-capturing and conserving the business.
How to do it.
Prepare in advance these items: · Have the insurance company who is receiving the new IRA funds open the new IRA account in the client’s name and issue a policy number. They all will do this. · A pre-written letter to the custodial (brokerage house, insurance company, bank) telling them to cancel the account and send the client the money. Make certain that in the letter is the statement that this is a rollover IRA and DO NOT withhold taxes. THIS IS AN IRA ROLLOVER. · A prewritten letter under the client’s name to the stockbroker notifying him that the client is ending their business relationship. (keep until needed, some brokerage houses require the stockbroker to sign off, use this if needed)
1. Have the client sign all the letters 2. Have the IRA funds sent directly to the client. (funds can be in the client’s possession for 60 days without disqualification) 3. When they arrive enter the new account number on the check. It is perfectly ok to deposit the IRA funds in their own checking account and write themselves a check via the custodial. 4. Send the funds to the new custodial
This process will allow you to rollover IRA funds in a very short time and receive compensation quickly. My average to compensation is 7 business days.
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