Discussing investing around holidays celebrating loved ones

Love. Most cultures have a day to celebrate it. It’s that special bond people feel for each other, which includes a desire to protect the ones you love. Since you work in financial services, your ears may have perked up at the word “protect.”

Not all cultures celebrate the same holiday, of course. In many countries, February 14 is recognized as Valentine’s Day. In countries such as South Korea, there is also White Day, on March 14, when you give reciprocal gifts to those who gave you a Valentine’s gift. And if you are Welsh, you know St. Dwynwen’s Day

However your clients choose to commemorate loved ones, here are a few ideas you can try to spark conversations.

1. How are you celebrating the holiday? It’s a great conversation starter. It’s not a holiday with one gift-giver and one gift-receiver; each party should demonstrate their love for the other. What do they have in mind?

That idea sounded straightforward. They might even say “Thanks for reminding me.” Now for a few other ideas.

2. Protection. Is peace of mind a good gift? It’s unlikely they will buy their special someone life insurance. How would you wrap it? Talk of love, however, might lead to talk about security and protection of loved ones. You might have a conversation about how they are protecting their loved ones if something happened to them.

3. Love also means freedom from worry. Would you like to not worry about income? Recently retired clients are concerned about income. They aren’t collecting a salary anymore. Wouldn’t it be great to keep getting a monthly check during their retirement? They probably collect Social Security or another form of pension, but that extra check might be an annuity payment.

4. Love is forever. Keep the income flowing when you aren’t here. What happens if an income earner isn’t around? The bills keep coming in. For an older client, an annuity might make sense. It stays in the accumulation phase while they are alive. It converts to the distribution phase when they pass away. Their surviving spouse continues to collect an income.

5. Kids count too. Put away a little bit at a time. Grandparents sometimes send cards for Valentine’s Day and other holidays. This reminds those young relatives that they occupy a special place in their hearts. They could enclose a check, but it’s likely the money might be spent immediately. Instead, they could open a college savings plan containing a mutual fund and direct that check, along with birthday and holiday checks, in that direction. The money will add up.

6. Who makes money on these holidays? You have a client who’s grumpy about the commercial aspect of the holiday. They play down the impact of jewelry, flowers and other gifts. Remind them there are public companies in all these areas. They can invest money in them, being a part-owner of the company everyone spends with on these holidays.

Here’s the bottom line. We all need a reason to call or reach out to clients. Valentine’s Day and other romantic holidays are on the horizon. The airwaves will be filled with ads. Why not make the holiday a reason to call? One cautionary note: Be aware of the sensitivities across different cultures. Not everyone celebrates the same holidays.

Bryce Sanders is president of Perceptive Business Solutions Inc. His book, Captivating the Wealthy Investor, can be found on Amazon.

For more ways to engage with clients, try these MDRT member-exclusive ideas:


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