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We are on the eve of the most anticipated time of the year: Summer. The days are longer, more relaxed, nights are quiet and we exhale a bit- so how do we maintain the business momentum between Memorial Day and Labor Day? Clients want to enjoy the warmer days as much as we do….. can we create opportunities to see those clients during the 3 months of vacations, parties, weddings, and graduations that pull them in different directions? Yes- we modify our thinking a bit from the structured client appointments we have throughout the rest of the year, to one of appreciation: client appreciation. Take your client list and segment it into several categories based on, for example, age ranges, occupations, geographic areas of your city where your clients live and plan client appreciation events to say thank you. This also allows you to stay in front of them during the time of year where we see the most decline in business.
- These events can be simple (a Thursday night from 6-9pm wine and cheese event with a local sommelier presenting information about different wines, a Tuesday late morning from 11am-1pm with the local greenhouse gardener presenting ideas for a lush garden, ) to a more elaborate event of a sit down lunch or dinner with you as the speaker, taking 15 minutes to speak on the current retirement planning landscape. The ticket to all of these events is for your client to bring a friend or neighbor. These are not intended to be selling workshops but rather a social time to gather and for you, their trusted advisor, to say thank you and meet the friend accompanying them: a very easy non-threatening way to get referrals. Are you engaging with your clients at times other than the annual reviews? If not, it’s time to plan something social to say thank you. Business arises from these client appreciation events as well as client retention- clients don’t tend to leave a financial advisor when they feel important and valued.
The Next Big Thing in Annuities: If you’re not talking with your clients about QLACs, expect that your competition is. Learn how big this opportunity really is!
Upcoming Events
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Plan now to attend
As a financial, investment, retirement, or accounting professional, long-term care planning can be challenging–specifically because it may not be the primary focus of your practice. In fact, you may even avoid it. Yet at the same time, learning about long-term care could be one of the most crucial ways to serve your clients. A potential exposure so great, it could render all other strategies meaningless.
Join us for a free webinar and learn options available for your clients with the Care Solutions–a portfolio of asset-based LTC products that can provide tax advantages and benefits even if care is never needed.
During this webinar you will learn:
- How certain annuities can benefit from the Pension Protection Act and provide income tax free withdrawals for LTC
- About products that issue all the way up to age 85
- How to use qualified money to gain long-term care benefits
- How to speak with your clients about a negative topic (LTC) in a positive way
This learning opportunity will give you the ‘nuts and bolts’ of our products and arm you with the knowledge you need to succeed. At the same time, you will gain a level of comfort and learn how to broach this at times difficult topic with your clients.
Register today! |
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| Chris Huntsman
Development Wholesaler, Care Solutions
Sales Desk: 800-275-5101
www.oneamerica.com |
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 Featured Speaker:
Chris Huntsman – Development Wholesaler, OneAmerica
Full Product Webinar:
– Client presentation (advisors only)
– Asset-Care (hybrid life/LTC)
– Annuity Care (hybrid fixed annuity/LTC)
Click Date/Time to Register for Webinar:
* All times Eastern
Friday, June 3rd at 11:00 AM
Friday, June 17th at 11:00 AM
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For company and recruiting use only. Not for public distribution.
Products and services provided by The State Life Insurance Company, Indianapolis, Indiana. Products not available in all states or may vary by state. |
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© 2010 OneAmerica Financial Partners, Inc. All rights reserved. OneAmerica® and the OneAmerica banner are all registered trademarks of OneAmerica Financial Partners, Inc. |
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Is anyone content with the interest rates on CDs at banks? Why would someone choose a CD over other safe money ideas? Certainly a CD is appropriate if the money has a definite intention: the client is saving that money for a trip, down payment on a home, a new deck/pool in the backyard next year- you see the picture. Short term safety with a short term intended use makes a CD very attractive and safe with no worry of principal loss regardless of market conditions. The interest rate is surely unattractive, however, but the knowledge that the client’s “money with a purpose” will be there when the event arises equals a perfect match. Does every client with a CD have an intended use for their lump sum of money? The answer is no, and most often does not have an intended purpose for it, but as we hear so often, ” I just don’t want to risk it.” Average CD interest rates currently are 2.35% for a 5 year CD and 1.84% for a 3 year CD. (source: Monitor Bank Rates April 2016) What does this all mean? There are alternatives to CDs for money that is without purpose, money that needs to be saved safely, and clients are mostly unaware of the alternatives.
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CDs have us pay tax on money we aren’t using. (Those interest rates are pre-tax- yielding less after taxes are paid- do we remind clients of this?)
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CDs don’t allow us to access our money without a penalty- there is no liquidity available. (Are clients aware they truly are ‘locking up their money’?)
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CDs don’t avoid probate at the time of death, unless held in a trust. (The client dies, how do their loved ones gain access to the CD?)
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Ask your next clients/prospects 3 questions:
1. How do you feel about the interest you’re receiving on your safe money at the bank? (This will tell you if they keep larger amounts there.)
2. Is that money intended for something specific soon, like a trip or home remodeling? (If the answer is as expected, no- we just don’t want to risk losing it and don’t know of any safe alternatives)
3. I have a few ideas to share with you that have been interesting and appropriate for some of my other clients, allowing them to not pay tax on money they’re not using, giving them access to some liquidity and a simpler way to pass that money to loved ones when that time comes. When can we get together ?
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It is imperative to explore all financial options for the clients- why let a client lapse or surrender a policy when determining there is an alternative. Life Settlements- Life Insurance , like every other asset, has a Market Value. Before your client considers letting a policy go, call us to discuss the specifics. And interestingly, all policy types are considered now for Life Settlements- even convertible term insurance. The reality is: you will set yourself apart from other advisors and agents by educating clients on Life Settlements and the options for the unwanted/unneeded life insurance. Clients remember you told them about an idea that others did not- and isn’t that what we want as agents and financial advisors? To be distinguished as unique, with different and compelling ideas for clients provides them with more than the average agent.
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Are you aware within Fixed Indexed Annuities and Indexed Life Insurance there are 100% participation in the various indices up to the caps? Are you aware there are uncapped (yes uncapped) index strategies allowing the client the full index performance less a spread? Why is any of this important? Because clients have told this industry after 2008 that they no longer can endure the wild rides with their money. They have firmly said they are aware they need some exposure to the non-guaranteed markets, but they now also know they must be more diligent with safety, as their individual lives are uncertain and when retirement happens often is not by choice but more by circumstance.
See the attached White Paper by Allianz Life Insurance Company “Reclaiming the Future”
Looking for the latest 2016 tax summary guide? Download here
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How will you guide your clients and prospects this year with new ideas? As we have known and anticipated for the last several years, interest rates are now on the way back up, and retirement income will be affected if bonds are the primary source. Have you considered the importance of showing a client what a guaranteed income would look like, one that has the opportunities to increase as the index performs?
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