Adjusting retirement planning for older clients who lose their jobs
We have a client who is very specialized in what she does who lost her job. Great news for her: She was a good saver. But at the same time, we had her on...
We have a client who is very specialized in what she does who lost her job. Great news for her: She was a good saver. But at the same time, we had her on...
Figuring out the difference between a financial delegator and a do-it-yourselfer (DIYer) can tremendously impact your income as a financial advisor. For me, the more I work with financial delegators,...
Stocks are exciting. Insurance is boring. At least that’s the way many clients feel. Day trading stocks on your phone is not that different from gambling. Fortunately, many people understand...
We do not charge fees at the first meeting. We bring the client in and see what they’re doing and talk to them and then say, “In order to create...
Qualifying for Top of the Table is simple — although not easy. If you put in the time, this technique works. I ask clients three questions, which helps me qualify...
Prospects often think buying term insurance is sufficient. Why would they pay more to get the same coverage? Here’s an analogy that helps make the point. Rent-to-own is a concept within...
Ever wonder how a client makes the decision to hire a financial advisor? You might think they decide based on experience, reputation, advertising or cost. Those sound logical. What if...
I think clients respect us more when you take a direct approach when discussing income replacement — not to scare them but just to be realistic. One of the questions I...
It’s time to go beyond transactional advice to strategic advice. It’s not about the products. Those are only tools to ensure foundations are strong. For instance, superannuation, similar to a 401(k)...
InvestmentNews did a survey in which 36% of the advisors who were polled said that their clients have been impacted by the opioid epidemic. Let me tell you why that...
It can be difficult to guide clients away from the wrong path and onto the right one. Joel Wymer, a two-year MDRT member from Kent, Ohio, recommends doing it in...
We are about to come into the largest transfer of worldwide wealth in the history of humankind. All of this money has the opportunity to come into your practices or...
What’s in a name? For those entering retirement, the names and language financial advisors use can mean a lot, according to the book “What Retirees Want: A Holistic View of...
I’ve always liked to make things simple using a conceptual connection with the client’s point of view. I would label that as conceptual selling. Using illustrations, word pictures, parables and...
It was 1988. I was going door to door selling life insurance policies. A few months into the business, I had to deliver my first death claim check. The $10,000 check...