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Thursday, August 25, 2016

Partnering with CPAs to Cultivate New Clients

By: Oscar Toledo, Director of Sales and Marketing, Partners Advantage

The economic times of today make many financial professionals searching for ways to find new prospects. One way to help fill up your appointment book throughout the year is to team up with a CPA. Accountants are typically eager to become partners, as it can be a beneficial relationship for both of you. 

Here are six steps that could potentially help you establish a successful working relationship with a CPA that will benefit everyone; the client, the accounting professional, and you.

Step 1: Prepare your interview with the CPA
Before you meet with a CPA, you need to prepare. Create a bio sheet or brochure that best describes your services and added value. This, along with your business card, is the only thing you need to leave behind. If you don’t have a bio sheet or brochure but wish to create one, this is an opportunity for you to review all your marketing programs and update them as needed. Along with this, you need to perfect your elevator speech.  

Keep in mind; they need to understand how you will help the client relationship and the steps you will take to enhance their reputation.  A great question you can ask the CPA is, “Are you concerned with what’s best for your clients?”

Step 2: Develop a plan
Create a list of professionals in your area and do your homework on this list. Check their social media sites, find common bonds and interests, and determine their fit on your team. Develop a drip campaign of scheduled contacts with these industry professionals. Consider upcoming meetings you may be hosting such as an agent training for your downline agents or a client seminar and invite these professionals to attend.  

Step 3: Work your plan
Consider unscheduled in-person meetings.  Keep them short; 10 minutes or less. You can also schedule these meetings if preferred. It’s important to have a purpose such as providing client approved pieces and discussing new tax developments.  

Step 4: Do unto others
A crucial step in building and maintaining a strong network is making an effort to give quality referrals. You have to give referrals if you expect to get them. Consider coming in with a list of clients that are in need of a CPA. Taking the time to dig deep into your current and prospective client base allows you to better pinpoint the clients you are looking for and improve your success of offering a combined solution that fits their personal and financial needs.

Many clients will find a package deal of expertise very appealing and will hopefully rely upon both of you and your individual knowledge as their needs and goals change. 

Step Five: Be patient
Be realistic – relationships take time. Don’t expect referrals right away. A trusting, quality relationship is not one you create overnight, but putting forth effort will build a strong foundation. 

Step Six: Monitor results
You should monitor results over time and consider repeating steps 1-5 as needed. Keep the dialogue with the CPA office open and ongoing. Consider scheduling standing quarterly meetings to discuss industry updates and the relationship.

Putting effort into this relationship can help create a profitable referral system. When combined with deliberate planning and a strategy, you can create a solid foundation where your referral network can continue to grow. 


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For financial professional use only.  Not for use with the public.

This material is intended to provide general information only. It is not intended to render legal, accounting, Social Security or tax advice, and the services of those professionals should be sought. Financial professionals who utilize this material may be able to identify potential retirement income gaps and introduce products, such as fixed annuities, as potential solutions. The testimonial may not be representative of the experience of other financial professionals and is no guarantee of future success.  

Always follow your firm's policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm's employment process.

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Thursday, August 18, 2016



Education That Causes Sales and CE Coming to the Midwest and Southeast

The Partners Advantage Great 8 Boot Camps are coming to:
Omaha - August 23
Des Moines - August 24
Chicago - August 25
Minneapolis - August 26

These full-day workshops will focus on education to expand your knowledge and fuel your sales success, including:
  • Proven strategies in selling indexed universal life insurance
  • Consumer study group language that works
  • Your smart solution for legacy assets
  • The asset-based LTC opportunity
  • Case studies and sales ideas
Then in September we are headed to:
Atlanta, GA - September 13
Charlotte, NC - September 14
Orlando, FL - September 15

Attendees will receive a WebCE® Voucher good for one complimentary CE Course!*
(Good for up to 15 hours of CE credit, depending on the course selected.)

Led by nationally recognized indexed product educator Charlie Gipple CLU®, ChFC®, the workshops focus on "Education That Causes Sales." Walk away with techniques and information you can immediately implement!

LEARN MORE HERE.

The event is open to licensed financial professionals and hosted by Partners Advantage.

For financial professional use only. Not for use with consumers.

*This voucher is good for one (1) complimentary CE course. Not available for some specialty courses or packages. This voucher includes the course material, exam, grading the exam, certificate of completion and state reporting, where required. Additional charges for paper materials, shipping, and state filing fees may apply. The course and exam must be completed within 12 months of course selection. Some states limit the number of CE hours that may be taken through self-study or correspondence. Be sure to check your state requirements before ordering.

The testimonials may not be representative of the experience of other financial professionals and are not a guarantee of future success. The financial professionals who provided these testimonials did not receive any compensation for providing these comments.

The third party information and opinions included in these presentations have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Partners Advantage. Although we may promote and/or recommend the services offered by these companies, financial professionals are ultimately responsible for the use of any materials or services and agree to comply with the compliance requirements of their broker/dealer and registered investment advisor, if applicable, and the insurance carriers they represent.

Tuition fee for each Great 8 Boot Camp attendee is $100. The fee, payable in U.S. dollars, reserves your seat. A USD $100 advance deposit per participant is fully refunded to attendees who are present for the entirety of the meeting. The tuition is payable to Partners Advantage on or before the first day of the Great 8 Boot Camp and can be made via acceptable credit cards for tuition payments (VISA, MasterCard, American Express, Discover). 24-hour notice must be given prior to event for full refund. The manner of reimbursement will generally coincide with the manner in which the tuition was paid within a reasonable amount of time following the event when attendance can be validated.

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Thursday, August 11, 2016

Charlie Gipple to Speak at the 2016 MDRT® Top of the Table

FOR IMMEDIATE RELEASE

Charlie Gipple to Speak at the 2016 MDRT® Top of the Table

Riverside, CA (August 2, 2016) – Partners Advantage is pleased to announce its Senior Vice President for Sales and Marketing Charlie Gipple, CLU, ChFC, will be a speaker at MDRT's Top of the Table annual meeting. This year's conference will be hosted in Quebec City, Quebec, Canada, Sept. 21-24.

Gipple will be addressing the "Seven Secrets to Effective Communication" on Sept. 22, during the event's Ten X Talks at the Top segment. His presentation provides insights on how to improve presentation, public speaking, storytelling and influencing skills. 

"I am honored to be part of the distinguished program at the 2016 Top of the Table event," stated Gipple. "This is an extraordinary event that brings together some of the best in the business and helps them to become better."

Gipple is a specialist in index products, financial markets, financial legislation, behavioral finance and the positioning of insurance products. He is well-known in the industry as a keynote speaker on these topics. At Partners Advantage, he manages all sales, marketing, recruiting, agent training and sales support activities across all company segments driving a focus on Education That Causes Sales.

As an index product thought leader, Gipple regularly authors articles about index universal life insurance and index annuity products. His expertise has been featured in Broker World, LifeHealthPro, InvestmentNews, Financial Advisor, Insurance News Net, National Underwriter and numerous other media outlets. He has also made appearances on thestreet.com and AM Best TV. Gipple joined Partners Advantage in 2015.


About Partners Advantage Insurance Services
Partners Advantage Insurance Services, LLC, is among the top national insurance marketing organizations in the country with 70 associates located in offices across the United States. The company's Advantage Division is a one-stop brokerage for licensed agents and agencies throughout the United States who sell annuities, life insurance and linked benefit products. The company's Platinum and Premier Divisions work to enhance insurance marketing organizations and agencies throughout the country. The corporate headquarters for Partners Advantage is located in Riverside, CA. Regional offices are located in Huntington Beach, CA, Palm Beach, FL, Sioux City, IA, Ada, MN, Florham Park, NJ, Houston, TX and Henderson, NV. For more information about Partners Advantage, visit www.PartnersAdvantage.com.


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Thursday, August 4, 2016

Partners Advantage Perspectives: How Our Organization is Preparing for the DOL Fiduciary Rule

By: James Wong, President
Partners Advantage Insurance Services, LLC

As it pertains to annuity business, it appears to us that life insurance only licensed agents will likely need to have one key IMO relationship. At Partners Advantage, we will likely have more select and deeper relationships with financial professionals and agencies due to the heightened risks all the way through the distribution chain. The fact that we already have well-trained compliance/suitability structure in place and a general counsel on our senior management team will be a benefit. We plan to increase staffing in this area  to adhere to regulations and support our distribution network. We anticipate IMOs will need to be structured more like a broker-dealer in the future, having additional reviews, checkpoints and monitoring (while continuing to offer professional development, marketing support and sales training).

We are having many conversations with our key carriers and they are looking to provide enhanced solutions within their core distribution. Having equity ownership in an RIA over many years has been beneficial for our organization and it may also be a part of the solution as we move forward.

Life insurance has been and will continue to be a key part of our business moving forward. We see the protection story becoming even more relevant in the future. Our structure and large staff enables us to also help other organizations expand and diversify their offerings through life insurance. Our track record of providing knowledgeable in-house underwriting and advanced markets experience will be the focal point. In a world of compressed margins and more oversight, we hope to capitalize on technology to help agencies and agents streamline the process and create a better customer buying experience.

We look forward to continuing to grow our business through our support of independent insurance professionals and agencies such that together we can meet the needs within our industry.



For financial professional use only.  Not for use with the public.

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Tuesday, August 2, 2016

FOR IMMEDIATE RELEASE

Charlie Gipple to Speak at the 2016 MDRT® Top of the Table

Riverside, CA (August 2, 2016) Partners Advantage is pleased to announce its Senior Vice President for Sales and Marketing Charlie Gipple, CLU, ChFC, will be a speaker at MDRT's Top of the Table annual meeting. This year's conference will be hosted in Quebec City, Quebec, Canada, Sept. 21-24.

Gipple will be addressing the "Seven Secrets to Effective Communication" on Sept. 22, during the event's Ten X Talks at the Top segment. His presentation provides insights on how to improve presentation, public speaking, storytelling and influencing skills.

"I am honored to be part of the distinguished program at the 2016 Top of the Table event," stated Gipple. "This is an extraordinary event that brings together some of the best in the business and helps them to become better."

Gipple is a specialist in index products, financial markets, financial legislation, behavioral finance and the positioning of insurance products. He is well-known in the industry as a keynote speaker on these topics. At Partners Advantage, he manages all sales, marketing, recruiting, agent training and sales support activities across all company segments driving a focus on Education That Causes Sales.

As an index product thought leader, Gipple regularly authors articles about index universal life insurance and index annuity products. His expertise has been featured in Broker World, LifeHealthPro, InvestmentNews, Financial Advisor, Insurance News Net, National Underwriter and numerous other media outlets. He has also made appearances on thestreet.com and AM Best TV. Gipple joined Partners Advantage in 2015.


About Partners Advantage Insurance Services
Partners Advantage Insurance Services, LLC, is among the top national insurance marketing organizations in the country with 70 associates located in offices across the United States. The company's Advantage Division is a one-stop brokerage for licensed agents and agencies throughout the United States who sell annuities, life insurance and linked benefit products. The company's Platinum and Premier Divisions work to enhance insurance marketing organizations and agencies throughout the country. The corporate headquarters for Partners Advantage is located in Riverside, CA. Regional offices are located in Huntington Beach, CA, Palm Beach, FL, Sioux City, IA, Ada, MN, Florham Park, NJ, Houston, TX and Henderson, NV. For more information about Partners Advantage, visit www.PartnersAdvantage.com.


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Thursday, July 28, 2016

Putting in the Work to Discover Success

Inspirational Thought for the Week
By Oscar Toledo, Director of Sales & Marketing

Growing up, they don’t tell you how many hours of studying is required to get straight A's, or when applying for a job, you aren’t told the amount of successful projects you have to complete to climb up to your ideal position.

When you hear about the most successful people in the world, whether it’s in business, sports, or entertainment, there is always one common factor among them all.

Day after day after day, they put in the WORK.

Tomorrow morning, think about what you want to accomplish that day. Think about what you want from life.

Will you do whatever it takes, including sacrificing free time now so that you reap the reward later?

I know what it’s like to feel stuck, to fail, and to have people around you doubt your capabilities. But I will never know what it feels like to quit.

Today, is yours for the taking, make it a day for which your future self will thank you.


For Financial Professional use only. Not for use with consumers.


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Thursday, July 21, 2016

"Experts" Hate Annuities - Clients Disagree

I was most of the way through my fourth seminar of the week, just wrapping up with a discussion on “sequence of returns risk” as one of the five retirement risks and I was about to enter the last part of the seminar where I propose potential solutions to this risk.  I went on to discuss that the conventional “rule” for withdrawing money from a securities portfolio is 4% adjusted for inflation (i.e. if you have $1 million at retirement then the first year of retirement you can withdraw $40,000 per year). I then went on to explain an alternative solution which can often times allow one retiring at 65 to withdraw maybe 5% of their “income value” guaranteed* for the life of the client. 

At this point I had to introduce the audience to the harsh reality that this potential solution is (hold your breath!), an annuity.  I told the audience what I just explained was a Fixed Indexed Annuity (FIA) with a Guaranteed Lifetime Withdrawal Benefit (GLWB).  After doing this, you would never guess what the reaction was from the audience, again, for the fourth time that week.  Here is what they did; they nodded their heads in agreement and wrote down on their notepads the words, Fixed Indexed Annuity!

Not dramatic, but the point is that consumers’ disgust toward low annuity rates and annuities in general was more in my head than any of the clients’ heads.  That is because over the last 16 years the stock market has been chopped in half twice!  The consumers in the room know that all too well and they are also familiar with the historically low rates on bank savings products. I believe that while discussing annuities with clients you should have a conversation about the relativity of annuities to what the clients do know (market, bank-type products, etc.).  And we should be confident in discussing this “relativity” because when the market was being chopped in half, clients with retirement dollars in an FIA would not have lost any of their premium or interest.** 

Consumers also appear to disagree with what the financial “experts” like Suze Orman and Ken Fisher say about annuities.  In fact, 78% of people who own annuities are satisfied with their access to their money.1 More than 80% of fixed annuity buyers are happy with their purchase2, which is a very high happiness factor among financial products.

Even in light of the challenges we face with the Department of Labor’s Fiduciary Rule, I am confident we will adjust and FIAs will continue to be a mainstay of our industry.  However, in the short run we will likely experience some changes with the FIA product line. For financial professionals that may have their businesses highly concentrated on FIAs, I would propose a way to “smooth out” the volatility in your practice. I propose Life Insurance!  If you don’t like underwriting, there are attractive Simplified Issue Life Insurance products.  There are also Single Premium Whole Life products and Single Premium Indexed Universal Life products, which offer an attractive alternative to FIAs, when the client doesn't need the money during their lifetime. 

I can comfortably assure you that if you know FIAs, it's not a very far leap to also learn and write IUL.  I have taken this leap myself and at the time I had less educational resources and support than what you have when you partner with a marketing organization with a strong training platform. This is what we at Partners Advantage specializes in -  Education that Causes Sales. I encourage you to prepare for the future of our industry and continue to broaden your knowledge to truly serve your clients needs. 



For financial professional use only.  Not for use with the public.

* Guarantees are backed by the Financial Strength and claims-paying ability of issuing company.
**Insurance and annuity products: Are not deposits. Are not guaranteed by a bank or its affiliates.  May decrease in value. Are not insured by the FDIC or any other federal government agency.

1 Genworth The Future of Retirement Income Study 2014
2 LIMRA Study – August 2012 http://www.limra.com/newscenter/newsarchive/archivedetails.aspx?prid=257

Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of premium and credited interest, and the reassurance of a death benefit for beneficiaries.
An income rider or benefit (sometimes called Guaranteed Lifetime Withdrawal benefits, or GLWB) is an additional feature available with some annuities and generally optional and come with additional costs. Income benefits are designed to provide income options above and beyond the standard annuitization or free withdrawal features in annuities.

Pursuant to IRS Circular 230, Partners Advantage Insurance Services and their representatives do not give tax or legal advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Encourage your clients to consult their tax advisor or attorney.

The information contained in this article is not intended to serve as tax or legal advice and is not intended to provide financial or legal advice and does not address individual circumstances. 

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