Even the most successful advisors appreciate the value of a good sales idea. These are a few favorites from MDRT members:
Kick into high-gear
I like to compare financial plans to soccer teams. In soccer, can you imagine what would result if your team consists of all offensive players or all defensive players? No matter how many goals an all-offensive team kicks in, they will lose the game if they allow more goals by the opposing team. Likewise, even if an all-defensive team plays extremely well, they will lose if they can’t score. A good team must balance offense and defense to win. Financial plans are similar to the soccer team. We need to have adequate strategies in the form of portfolios and matching products as a way of positioning the right player at the right place on the field.
For example, the investment asset that accompanies risks for aggressive returns on financial leverage is like the offensive player; saving for children’s tuition is the midfielder, guaranteed funds that function steadily and faithfully as a protection shield for dangerous situations are the defense players; and finally, the retirement fund that provides protection throughout the final stage of life is the goalie. To win the game of financial soccer, people should seek the advice of a financial expert to learn how to set the strategies (portfolios) with adequate players (products). — Se Hwan Kang, past MDRT member
4 C’s of wealth
I walk my clients through a wealth concept called “the four C’s” with flash cards, revealing each card one at a time. The first C is “creation,” i.e., income or salary. The second C is “consumption,” using that created wealth for things like food, clothing and shelter. I leave the third C hidden until the end. The fourth C is “conservation,” which is creation minus consumption, your bottom line. “What are the three hindrances that can stop conservation?” I ask. Death, retirement or disability. That is when I reveal the third C: “continuation.” “Having insurance,” I tell them, “eliminates the hindrances and preserves the entire cycle of your wealth.” — Jayang Nagrecha, 14-year MDRT member
