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  • DLP getting into whole life insurance

    I have invested in a couple of their funds and have been very pleased with my experience thus far.
    Watched their webinar last night (9/23/2021) and was disappointed to hear that they are now venturing into selling whole/universal life insurance.
    Almost half of the webinar was spent on their team extolling the virtues of whole life insurance. They were very vague on details but only had great things to say about the product.

    99% of the time whole life is the wrong "investment". I am hoping they provide a more objective analysis for potential clients.

    My continued investment with DLP funds will largely depend on how hard they market this new cash cow (for them).

  • #2
    Hmm maybe that explains their free DLP membership for WCI and POF:

    “It gets better, though. To grow the membership and bring in more high-income people like yourselves to the party, DLP offers the membership for free to readers of Physician on FIRE and the White Coat Investor.”


    https://www.physicianonfire.com/dlp-...ian+On+FIRE%29

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    • #3
      Well that doesn't sound good

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      • #4
        Originally posted by urologydoc View Post
        99% of the time whole life is the wrong "investment". I am hoping they provide a more objective analysis for potential clients.
        It’s a product that is meant to be sold. I doubt they’re going to tell a majority of people it isn’t a product for them.

        Comment


        • #5
          Originally posted by urologydoc View Post
          I have invested in a couple of their funds and have been very pleased with my experience thus far.
          Watched their webinar last night (9/23/2021) and was disappointed to hear that they are now venturing into selling whole/universal life insurance.
          Almost half of the webinar was spent on their team extolling the virtues of whole life insurance. They were very vague on details but only had great things to say about the product.

          99% of the time whole life is the wrong "investment". I am hoping they provide a more objective analysis for potential clients.

          My continued investment with DLP funds will largely depend on how hard they market this new cash cow (for them).


          on the other hand, I wonder if they will utilize the insurance products to increase returns by having the DLP funds underneath the insurance umbrella to minimize taxes, kind of like warren buffet

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          • #6
            Don’t confuse the responsibilities - investment products have no fiduciary responsibility to their purchasers. The responsibility lies either with you or an independent 3rd party fiduciary advisor. This is not a knock on the product, it is, just as Cord implied, a fact of life, kind of like you don’t really care whether Vanguard sells variable annuities (they do). So what?

            Like you, however, I do question whether WCI should continue to provide incentives for readers to use their product. This is apparently a new development, so not WCI’s fault that the members of the “empire” have no control over what their partners plan or decide to do with their businesses.
            Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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            • #7
              Yes, I’d be very interested in WCI and PoF reply to this if it is true that they are now promoting whole life insurance. I was about to invest with them and join the prosperity membership as alluded to on a recent PoF post. Doesn’t mean I won’t still do both as obviously both bloggers have invested some of their own money, but would be curious if their ringing endorsement has a different tune.

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              • #8
                Originally posted by JK View Post
                Yes, I’d be very interested in WCI and PoF reply to this if it is true that they are now promoting whole life insurance. I was about to invest with them and join the prosperity membership as alluded to on a recent PoF post. Doesn’t mean I won’t still do both as obviously both bloggers have invested some of their own money, but would be curious if their ringing endorsement has a different tune.
                I went and looked at the post and this part made me laugh:

                Originally posted by PoF Blog
                What I was told about this membership sounded too good to be true, and you know what they say about that. I decided I’d better check it out myself. I figured there must be “a catch” if they were offering what they told me they were.
                If you can't see that this is a product that is being sold to you then I don't know what to tell you.

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                • #9
                  Originally posted by JK View Post
                  Yes, I’d be very interested in WCI and PoF reply to this if it is true that they are now promoting whole life insurance. I was about to invest with them and join the prosperity membership as alluded to on a recent PoF post. Doesn’t mean I won’t still do both as obviously both bloggers have invested some of their own money, but would be curious if their ringing endorsement has a different tune.
                  Ok, when I heard about the aptly-named “prosperity membership”, just had to read the blog post. Kind of turned my stomach - this reminds me of the “free” retreats put on by insurance and mutual fund sales companies for their best “producers”. If PoF is still looking for the catch, count me very unimpressed with this thinly-disguised sales tactic and his ”search”.

                  Who do you think really ends up paying for these luxuries? And how difficult has it been to have 10% returns (internal or external) in the last few years, anyway? You guys are DOCTORS with a strong interest in FINANCE, please think about this. You should be able to figure it out on your own without being led into this “exclusive” club…why is it so easy to lure you guys by telling you how “special” you are to be “invited” to invest? This w/b funny if it weren’t so sad.
                  Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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                  • #10
                    Originally posted by jfoxcpacfp View Post
                    You guys are DOCTORS with a strong interest in FINANCE, please think about this. You should be able to figure it out on your own without being led into this “exclusive” club…why is it so easy to lure you guys by telling you how “special” you are to be “invited” to invest? This w/b funny if it weren’t so sad.
                    It's amazing how people can fall for the 'special investment not open to the public' when it involves them but can easily see how scammy it looks when it doesn't involve them.

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                    • #11
                      Sad to see PoF’s blog taking a hard Tony Robbins turn. It is not at all an inspiring vision of “retiring early.”

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                      • #12
                        Originally posted by Lithium View Post
                        Sad to see PoF’s blog taking a hard Tony Robbins turn. It is not at all an inspiring vision of “retiring early.”
                        It's lucrative for those hocking the product. I don't blame PoF as we all have our price.

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                        • #13
                          Originally posted by CordMcNally View Post

                          It's lucrative for those hocking the product. I don't blame PoF as we all have our price.
                          Obviously I’m not sure how much he is making off these affiliations but even though I don’t really enjoy clinical medicine, I think I’d rather stick to seeing patients than selling stuff. I still have to look at myself in the mirror every day.

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                          • #14
                            Originally posted by urologydoc View Post
                            I have invested in a couple of their funds and have been very pleased with my experience thus far.
                            Watched their webinar last night (9/23/2021) and was disappointed to hear that they are now venturing into selling whole/universal life insurance.
                            Almost half of the webinar was spent on their team extolling the virtues of whole life insurance. They were very vague on details but only had great things to say about the product.

                            99% of the time whole life is the wrong "investment". I am hoping they provide a more objective analysis for potential clients.

                            My continued investment with DLP funds will largely depend on how hard they market this new cash cow (for them).
                            Can you share a link for that? I saw the DLP plan for entering banking but did not see anything about insurance.

                            Comment


                            • #15
                              I’m willing to at least look at the product but think we are all right to be quite skeptical. I think the initial presentation was far too vague given the hot button topic especially for more sophisticated investors. If returns can be good and fees low and the product was made more as an investment vehicle with tax advantages it could work. Main downside is commissions which could be lower. underlying guaranteed returns are super low in most policies especially in todays bond market but if backed by their lending fund at 10% things start looking very good. Also DLP mentioned the whole loan on the policy thing. Having something for cash flow and helping with larger irregular investments (like real estate syndication deals, purchasing a new property with down payment not kept in cash etc) could be useful. HELOC or a margin loan also work for this (and my Schwab PAL rate was better than their examples). Also maybe a potential benefit for ultra high net worth individuals looking to get around some estate tax issues by having a trust then buy a death benefit. But I’m still very skeptical and will hold off on further investments until I see where DLP is going with the prosperity membership and Whole Life.

                              https://www.whitecoatinvestor.com/ap...ife-insurance/

                              I love the idea of an evergreen fund with syndications and I like the asset class overall. DLP has been responsive and returns have been great. But I just like the idea of a lean business that keeps fees as low as possible to pass maximal return to the investor. Real estate will always be more expensive to manage than a total market ETF but I’m watching very closely to see if there are alternatives with a better after tax return and lower expenses elsewhere in the syndication space.

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