Financial professional Chris Hernandez is living the dream, but it didn’t start that way. “October 1, 2008, was my first day on the job. I was excited and ready to serve,” says Hernandez of Strategic Capital in Austin, Texas. “I soon realized that I began my career in the worst economic time since the Great Depression. And I failed completely.”
Between October 6 and 10, 2008, the Standard & Poor’s 500 Index fell more than 20% and the country tumbled into the Great Recession. By 2010, Hernandez was ready to quit and find a more stable career.
However, his wife Veronica and a veteran financial professional convinced him to stick with it. He did. And he came through the crash with a clear understanding of how annuities can help clients.
Clients and Financial Professionals Can Benefit from Annuities
“I saw how important annuities were as the crash was happening. The people I met who already owned annuities weren’t as concerned with the downturn, unlike those who didn’t have annuities.”
During his first few years in the business, Hernandez worked with many teachers. He found their pensions helped ease their retirement worries. So he decided to model his income planning after the state pension program. “I took this into the private sector where I ask my clients what they need their guaranteed income base to be. Then I use some of their assets to buy annuities,” he says.