I don’t have a problem with somebody making a commission if they have truly helped me. I do have a problem with somebody making a commission off something that isn’t really a good product for me and they know it.

I hope I have become wiser now and closely examine before buying, unlike I did a few years ago with my IRA. Fortunately I came out even in the end, but it cost me 15,000 in commissions for no net gain in 5 years. Admittedly this was in 2000-2006. Running it on my own I am now making consistent profit. Admittedly it is easier in this market.

As an RN I have seen many times surgeons go trolling through the charts searching for a likely candidate when their schedules get light. This is usually somebody who was NOT a candidate when their schedule was full. Somebody elderly, alone, who absolutely believes anything the doctor tells them…..I hate this practice, the outcome is seldom good. As always buyer beware.

But, Scott is right. Even doctors and lawyers are salesmen. If you ever doubt that, go see a surgeon when you have back pain. I bet the recommendation will be surgery. The chiropractor will recommend back cracking, and the physical therapist will push rehab. Everyone has a conflict of interest. It comes down to the consumer making an informed decision.

What I don’t like about commissions is commissions (or relevant pressuring) designed to sell certain products over others. Like mutual funds. If their fee is taking part of my overall profits, I’d prefer that–then they have an interest in me actually making money. As long as they’re smart enough to know what that is.

The problem is that people who don’t take the time to research their finances probably have no idea who is a good salesman wanting to help them and who is a bad salesman wanting to get the sale. Your reputation may have clout among the more knowledgeable, but for an average joe like me, I will have no idea how to verify how good you are except for what your co-salesmen say. In addition if you want to find a financial adviser, you just want to leave everything to them – how do they know their portfolio is supposed to be doing better if the adviser doesn’t tell them?

I think it’s great that your father-in-law contributed – he sounds like a really great hard-working guy. I have also read “How to Lie with Statistics” and it’s important to know exactly what a statistic is saying. Instead of using a statistic, take this statement into account – “I’ll bet a majority of salesmen are dishonest.”

The insurance rates are filed with the states’ department of insurance. Unless a company doesn’t sell through agents, period, the rate is the same whether you buy directly from the insurance company or go through an agent. If you use an agent, the agent earns a commission. If you go to the insurance company directly, they just pocket the commission themselves or give their phone reps a smaller split.

Those Internet sites that let you compare rates and buy insurance at the same time? They ARE agents, just agents with a large Internet marketing budget.

Your father in law sounds like a solid agent. I’m always happy to hear about insurance professionals with integrity. I just hope the Internet doesn’t wipe them out.

This might be WAY off topic – but I was reading about how Mitt Romney complained that it was un-American the way Huckabee was making attack comments at Romney’s religion. I have to disagree. Criticizing and injecting your views and opinion is indeed VERY American.

Just my two cents.

-Raymond