It has taken the newly retired Catherine a little while to find the time to sit down and share her thoughts about her conversion to 10X. She is just back from some travels and has been keeping herself busy as she adjusts to retirement, she says.
Now that she has time to think about it, her story – which she describes as a short one – is worth sharing.
Catherine got a lot of close-up experience of the savings and investment industry during her career in the branch and private banking space of one of the country's big banks for 41 years.
“Within the private banking space we had financial advisers based in our offices to whom we had to provide regular business leads,” she says, adding that almost all of these advisors themselves earned enough to qualify as private banking clients as a result of their annual commission incomes for sales and the amount of business written and invested with the various investment companies.
So, when she made the decision to retire, Catherine says, she had a good idea of the sort of money these advisers earned.
“I was aware of the commission fees paid to financial advisers and the various fund managers, and had seen first-hand the incomes earned off of these commissions.”
She says fees were one of her particular concerns when she started getting quotes at the beginning of the process of choosing her annuity provider.