Make the case for whole life vs. term insurance
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...
Tag Archives: advising clients
The scientific connection of how stories sell
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...
Is it necessary to scare clients about income replacement?
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...
Sell the plan, not the product
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)...
How to protect clients’ finances from addiction
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...
How to get your advice followed by clients
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...
Why women will become an even bigger force in the wealth management market
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...
Time to retire the word retirement?
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...
My trick to making things simple for clients
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...
Why life insurance is dignity planning
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...
3 effective sales ideas from around the world
Even the most successful advisors appreciate the value of a good sales idea. These are a few favorites from MDRT members: Let’s do lunch “I invite clients who have referred me a...
Don’t overlook this crucial behavior when working with clients
There are so many things advisors can do to connect with clients. The most important tactic is a simple one, said William T. O’Donnell, MSFS, a Past MDRT President and...
10 responses to whole life insurance objections
You’re a successful insurance professional. The advantages of whole life over term insurance are obvious to you. Yet, that’s not always the case with prospects and clients. They comparison shop...
Two of the biggest fears for people in retirement
Talking about what keeps clients up at night — the top 5 fears — is critical for an early discussion. Fear No. 1 is outliving their money, and it is two-pronged....
How a client’s insurance needs change over time
Many people shop around for the best price on gasoline, yet they might not do the same for their insurance. They buy a homeowner’s policy at the same time they...
