Senior Market Advisor January 01, 2009
Cover Story
Family affairs
You have worked hard to build a solid roster of ideal clients, and perhaps you continue to do a good job of attracting new people that fit your ideal client profile. But are you neglecting the family? Not your immediate family, but the families of
Feature
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A foundation of fixed annuities
When financial markets behave unpredictably, investors tend to flock to products that offer predictability. So it's no surprise that amid all the recent financial upheaval, interest in traditional fixed annuities appears to be surging. Fixed
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LTCI: Regarding referrals
Here's an easy decision. Would you rather generate new long term care insurance business by: A) buying lists and cold-calling strangers who may or may not be qualified for your product and services, or B) meeting with qualified prospects to
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Mastering lead generation
If getting a steady stream of new customers is vital to business growth, then reliable lead generation is the fuel that kick-starts the process. Consider that before you can add a name to the "new client" file, that person was a prospect
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The secret of powerful presentations
Be a problem solver, not a product pusher The first step to successful presentations, whether it be at seminars to a group of prospects or a first appointment, is know who you are, what you offer and why you are more qualified to help that prospect
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2009 CEO Outlook
2009 CEO Outlook
Up Front
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A bold new year
We know the news about the economy and most of it isn't good. Everywhere you look, companies are tightening their belts, asking for bailout money and downsizing. But there's always that silver lining. As we step into the new year,
That's Life
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The three "W"s of every new year
As we mark the beginning of another new year, we should use this time as one of reflection and change. As we review the past year and embrace a new one, there is no better time for advisors to encourage clients to re-examine their financial plans.
Coach's Corner
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Confirmation calls: A key to a full house
I've seen response rates on a national basis really increase for direct mail campaigns. This increase is always very predictable when we have the type of market volatility we've seen lately. People are scared and in search of answers
Profitable Practice
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Pursuing the American Dream...with hard work
Every business, to remain in business, must be structured to generate profits. The American Dream is built around one theme: "Nothing happens until somebody sells something." My job, as a professional sales person, is to initiate
LTCI Insider
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Sizing up the statistics on LTC
Q: It's very helpful to be familiar with significant statistics when talking to a prospect. Can you please provide a short list that I can use? A: Providing relevant statistics really helps in the sale. It indicates that you are educated
Annuity Advisor
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Not learning from a near miss
The representative pleaded with the consumer to pull back from the stock market, sell today and pocket those gains, and place at least some money in a no-market-risk place. Reluctantly, the consumer took the representative's advice, got out of
Marketing Playbook
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Six techniques of top producers (part 3)
Market yourself every day. Very few top producers wait around for a prospect to call them. Nearly every big producer possesses an ego that suggests effortless success, but when you force them to be honest, they always admit they're scared
Practice Management
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Overcoming the fears and getting to business
What's your reaction when I suggest cooking a hamburger in your exhaust pipe? If you're like most, you have an immediate negative reaction. It's a natural response to something that hasn't been tried before. The human brain
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Doing the work to maintain your current clients
In the financial services industry, it's very easy to spend most of your time and resources on marketing for new clients. There's nothing wrong with that, but it's also very important that you continue to maintain a good
Ethics in Action
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Get ready to soar -- again
According to classic mythology, the phoenix was a bird with beautiful gold and red tail feathers. Near the end of its 600- to 800-year lifespan, it built a nest of cinnamon twigs. Then it set the twigs on fire, reducing itself and its nest to ashes.
The Motivated Seller
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Conceive, believe and achieve
I am frequently asked what I think the single most important factor is in determining the success or failure of a salesperson. My response is often met with surprise, because most people expect me to say something about the necessity of hard work
Compliance Watch
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Take time for continuity planning
The solo practitioner needs to consider and reevaluate their firms' business continuity plan. FINRA rules control how these plans should be created and ultimately distributed to your customers. The purpose of the FINRA requirement, found in
The Close
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We are 21st Century problem solvers
Many columnists discuss the challenges Americans are facing and will face in the future, and sometimes they make these problems seem overwhelming. How can you use that emotion to help your prospects and clients? I use that feeling as a tool to
Seniors Speak Out
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How much do your children or grandchildren know about your retirement plan?
Well, that's a good question that I hadn't given enough thought to. I'm pretty fit for my age, but you never know, do you? Since you have me thinking about, I plan to call my daughter and have a talk with her about the finances.
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What are the best and worst attributes you look for (or look to avoid) in an advisor?
For me, it's honesty. I want a straight shooter. I have been burned in some investment opportunities over the years, so I put my top priority in an advisor as being somebody I have faith to do right by me. As you can guess, dishonesty is the
New Products
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New products
Fixed annuities ING Fixed Annuities The new ING IncomeProtector Withdrawal Benefit, a revamped version of previous offerings, now provides a 7 percent compounding roll-up during the first 10 years of the deferral phase and an annual ratchet
Red Flag Reminder
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NASAA/AARP unleash volunteer seminar watchdogs
"Free lunch" seminars will be under even greater scrutiny due to a new program to be launched by AARP and the North American Securities Administrators Association (NASAA). Under the program, AARP is recruiting "Free Lunch
