People who have viewed our website may have noticed an absence of “testimonials”. Over the years I
have collected many positive comments from satisfied clients. In fact, in the late 70’s when I was but a
rookie agent, a request for a “client approval letter” was embedded into the sales track we were taught.
I had accumulated a book of them in a nice letter binder which I proudly showed to new prospects to
establish credibility. Back then, every appointment was face to face and usually in the client’s home and
usually at night. In fact, the “insurance biz” hadn’t changed very much since I was a child in the 50’s.
Times have changed.
I did not keep these letters and they would serve little purpose now after so much time has passed. Also,
as good as they were, they were solicited testimonials and not as powerful as unsolicited testimonials.
As the years progressed and simple financial issues with basic solutions turned into complicated, highly
personal financial issues calling for customized rather than “cookie cutter” solutions, client satisfaction
was expressed verbally or by clients referring me to friends and relatives.
I have delivered death claims to grieving parents of a murdered son, widows who were enabled to keep
their homes and send their kids to college, husbands with little children whose wives had committed
suicide, and business partners who were enabled to buy out their deceased partner’s widow, keep the
business intact, and the widow made whole. How do you put these situations into a “testimonial” to be
used on a website for commercial use? The answer is you don’t. But I have had all the people involved in the above situations thank me for my service.
Less dramatically, perhaps, I have had clients who I had placed in Fixed Indexed Annuities call and thank me for conserving their account values and saving them from the substantial losses they otherwise would have suffered last year had they stayed in the market. I even had one widow, who did not take my advice, lose 20% of her retirement account. She told me “things were going so well, I though it would continue”. Her broker, who charged her a 3% fee on top of the 20% loss, told her in true broker fashion
– “don’t worry, it will come back”. Really? And what about the RMD’s booking permanent losses? (More on this in another post)
There is one unsolicited testimonial, however, I did receive almost 20 years ago which I can share with
you as it is not too tragic or personal and I won’t be betraying any confidences. I have deleted specific
names of people and firms.
And here it is:
Testimonial
Gregory J. Poulos 8-6-04
4115 Blackhawk Plaza Circle
Danville, CA 94506
Dear Mr. Poulos,
Two weeks ago, today I met with you and (my CPA) in his office and I will probably celebrate that date
forever. It was a turning point in my life, and I am so grateful for your encouragement and for your
knowledge in recommending a financial manager and broker I can trust. It was a pleasure to learn about
your interest in history and the journey that brought you to your present career. Even before anything
was finalized as far as choosing a broker, I felt confident that my problem could actually be solved.
(My CPA) returned from his backpack on the 29 th and contacted (trusted broker #1). It was disappointing to learn that he would not be able to handle my account because of taking over another broker within (same firm). When I told you that I had taken my statements and letters to the branch manager at the (local branch of said firm) and he was unwilling to help me, you said that the manager was “protecting his firm and his broker, not the client.” I realize that it is not fair to judge all (said firm) branches because of my particular misfortunes.
With only two days left before I planned to drive to Idaho, I decided to wait until my return in early
September to transfer my accounts, assuming that my current broker couldn’t cause any more problems
in the time remaining. I was wrong. In order to be sure that he understood I did not want him to invest
any of the money from (deceased husband’s) IRA, I agreed to meet him when he was visiting the
(nearby) office and delivered that message. Even though my requests have been denied in the past I was
amazed to receive a statement in the mail several days later that after I had met with him, he bought
$87,000 worth of (XYZ) high yield fund leaving just enough cash in the IRA account to pay the RMD. He never told me he was going to do that.
(My CPA) called on Friday to tell me you had recommended (trusted broker #2 at another firm), who
was willing to help me that same day. Your choice was excellent. He spent time going over statements
and has followed up with a really aggressive move to reverse the unauthorized $87,000 purchase. He
has sent a letter to me which I am to sign and mail to the (other location) office branch manager
requesting that the purchase be cancelled by August 18 in order to avoid legal action. He assured me
that I do not have to speak with either the broker or branch manager and that if legal action is
necessary, he and his firm will get me through the process. I could never do that on my own!
This “roller coaster ride” isn’t over yet but I have confidence in what is happening, and I am extremely
grateful to you for your very significant part in solving a problem that has troubled me for some time.
Thank you for doing for a stranger what a broker and branch manager would not do even though I had
reason to expect honesty and fair dealings from them in a financial relationship. I believe I was correct in calling your career a form of ministry. I am very fortunate to have known (my CPA) for 28 years and to have the benefit of his help with taxes and his willingness to contact you on my behalf. I will always
remember meeting you in his office on August 6 and the tremendous feeling of relief that came from
that event.
Sincerely,
Jane Doe
