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There are several important things to remember when meeting with prospects. I could probably go on and on about what is important, but there are certain things I feel are most crucial to remember when meeting with prospects. We coach our advisors on these processes on a daily basis which allows them to have more successful appointments and ultimately, more successful practices.
The independent industry doesn't do a really good job of surveying it's field force regarding what they look for in an Independent Marketing Organization (IMO). Having been around the business for more than 20 years, and having talked with thousands of insurance agents regarding their wishes and wants, I thought I'd put together a listing of the top field requests I've heard over the past few years.
A very basic way to understand how Indexed Universal Life (IUL) credits interest is to think of it like a very simple game where you flip a coin 10 times. There are then two ways to play the game. In Game 1 you win $100 for every head, and lose $100 for every tail. Game 2 awards you $70 for every head, but you lose nothing for every tail.
Financial advisors often make simple mistakes that they can correct to improve their businesses. These mistakes reduce their potential and can cause business to slow, or even worse, start to decline. Here are the top six mistakes you should avoid making in your financial services business.
Selling indexed universal life over the phone is relatively easy if you have access to products that overcome the big objections to buying life insurance. The first objection to IUL that you’ll typically hear is that it is expensive. Here's why IUL isn't as expensive as your prospects think.
Why is it that some financial advisors are successful at creating ravings that consistently lead new prospects to their doorstep, while others struggle? The struggling advisors don’t ask? Maybe. However, asking alone doesn’t create raving-fan billboards.
Indexed Universal Life provides clients with premium flexibility, so that if a situation arises where it becomes difficult for clients to make a full contribution, they can adjust the premium down to more manageable levels. IUL policies also offer death benefit flexibility. You can structure the policy to provide more death beneﬁt during the contribution period, or the client could have a lower initial death beneﬁt that grows as contributions are made.
During the more than 20 years I’ve been in the financial services industry, I’ve been fortunate to meet hundreds upon hundreds of financial advisors and insurance agents across the country and in various stages in the business. From the eager newbies to the sage veterans, I’ve visited with them all and here are the seven reasons I’ve found that top producers have more success in the business.
When you are making recommendations and or advising a prospect or client regarding transactions involving their qualified funds after June 9, 2017 you are acting as fiduciary. You will be required by law to act in a prudent manner and with loyalty to your client or prospect regardless of the impact on your agency or the companies you represent. You must always act in the client's best interest, not yours or that of the company you represent.
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