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Are equity-indexed annuities a good investment?

Rick Van Der Noord, certified financial planner in Greenville S.C.
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Rick Van Der Noord, certified financial planner in Greenville S.C.

Satire is defined as a genre of the arts in which abuses and shortcomings are held up to ridicule, often with the intent that some improvement would result. Our next guest hopes to provide us with a little satire today of what he sees as a popular fad in the financial services industry. And he’s hoping you will find the satire useful. Mike Switzer interviews Rick Van Der Noord, a certified financial planner in Greenville SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.