psychology of selling — offshore business mehdi’s methods ...mehdi fakharzadeh mehdi...

Serving Financial Advisors Worldwide

thePsychology of Selling — The First 8 Minutes (Part 2) ... 9

Offshore Business Planning ... 13

Mehdi’s Methods — For Record Sales, Don’t Forget Product Knowledge ... 17

Compete, Don’t Compare ... 19

Vol. 12 No. 5 • May 2011 www.IARFC.orgOfficial IARFC Publication

Back to the Future: Doing Business the Old-Fashioned, Relationship Way

Donna Graber

Introduction By

Compiled by the renowned media advocateEdwin P. Morrow

Forrest Wallace Cato

Fast-TrackSuccess SystemWORKBOOK

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Legendary Skills and Techniques of one of The World’s

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It only takes a few great ideas to make a dramatic increase in your income.

This is the most outstanding and simple system, and it can make a monumental difference in the

career of the life agent who will place these simple tools to work on a regular basis.

— Guy Baker, 2010 President of the MDRT

With this system by the MDRT role model, you are holding a success system that can take you to greatness. I have personally been on many platforms with Mehdi and he is the best. You can be very busy, but only with the right sales

system can you be highly productive. — Garry Kinder, CLU, RFC, CSA,

Author, Lecturer and Consultant

IARFC Quantity ListPrice MemberPrice Desired

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IARFC Press, FinancialPlanningBuilding,2507NorthVerityParkway,P.O.Box42506,Middletown,OH45042-0506 Fax:5134245752|Forquestions:8005329060

Financial Planning Building2507 North Verity Parkway

P.O. Box 42506Middletown, OH 45042-0506

800 532 9060 • Fax 513 424 5752www.IARFC.org

Edwin P. Morrow,Chairman&CEOCLU, ChFC, CFP®, RFC®

[email protected]

H. Stephen Bailey,PresidentLUTCF, CEBA, CEP, CSA, RFC®

[email protected]

Lester W. Anderson,V.P.MBA, RFC®

[email protected]

Wilma G. AndersonRFC®

[email protected]

Jeffrey ChiewDBA, CLU, ChFC, CFP®, RFC®

[email protected]

Edward J. Ledford,V.P.CLU, RFC®

[email protected]

Inshan MeahjohnBA Hons Mgt, MABE, RFC®

[email protected]

Michael W. MoellerMA, CFP®, CFS, ChFC, RFC®

[email protected]

William L. MoorePharm D., CLU, ChFC, FIC, RFC®

[email protected]

William J. Nelson,SecretaryRFC®

[email protected]

Rosilyn H. OvertonMS, Ph.D., CFP®, RFC®

[email protected]

Jeffrey H. RattinerCPA, CFP®, MBA, RFC®

[email protected]

Ruben Ruiz,TreasurerChFC, CLU, MSFS, RFC®

[email protected]

BOARD OF DIRECTORS

2 New IARFC Members

2 Calendar of Events

3 Spotlight On IARFC Benefits — We Have a New Look byAmyPrimeau

5 From the Chairman’s Desk — I’m Angry

7 Register Profile: Donna Graber — BacktotheFuture:DoingBusinesstheOld-Fashioned,RelationshipWay

9 Psychology Of Selling — The First 8 Minutes (Part 2) byMichaelLovas

11 Critical Illness Insurance Fills The Gap GetInOnTheGroundFloorOfThisAbout-To-ExplodeMarket byWilmaAnderson

13 Offshore Business Planning byEdMorrow

15 Compliance-Friendly Marketing — CommonMistakesAdvisorsMakeWithClientEventsandHowToAvoidThem byKatherineVessenes

17 Mehdi’s Methods — For Record Sales Don’t Forget Product Knowledge

18 Why Nobody Reads Your Brochure byMaribethKuzmeski

19 Compete, Don’t Compare byBillMoore

20 New Era Survival Guide For Investors byBarryFerguson

23 What Is The Strategy? byNormTrainor

24 Who REALLY Needs An End Of Life Plan? byChristopherHill

26 A Morality Story For Our Times byHalFliegelman

27 Business Mirrors Life — WhenGreatCustomerServiceStartsToGrateOnMe byHeshReinfeld

• I N T H I S I S S U E •

The Register is published monthly by the International Association of Registered Financial Consultants ©2011, 2507 North Verity Parkway, Middletown, Ohio 45042-0506. It includes articles and advice on technical subjects, economic events, regulatory actions and practice management. The IARFC makes no claim as to accuracy and does not guarantee or endorse any product or service that may be advertised or featured. Articles, comments and letters are welcomed by e-mail to: Wendy M. Kennedy, Editorial Coordinator, [email protected] SSN 1556-4045 Periodicals Postage Paid at Mansfield, Ohio.

POSTMASTER: Send address changes to: P.O. Box 42506, Middletown, Ohio 45042-0506

The Register | May 2011 Page 1

Thisistheadvicewegivetoallouradvisorclients:We’veseenitoverandoverformanyyears,thestaffisthefirstandlastfaceyourclientseversee.Thus,theycanserveasbusinessenhancersorobstacles.And,itallcomesdowntotheirabilitytomakeyourclientsandprospectsfeelcomfortableandimportant.So,giveyourassociatestrainingininterpersonalskills.Teachthemhowtospeedreadpeopleandbuildrapportwitheachpersonwhocomesintotheoffice.

Michael Lovas, C.Ht Colbert, WA

Acourseofstudythatwouldhelpwealthadvisorsishowtoidentifyand

evaluateclientassetsthatcanbeconvertedtocapitalassetsifneeded.IntheApril2001issueofInvestment

Newsitwasreportedthatover$7.4trillionofassetswereheldbyfamilieswithincomesof$100,000andanet

worthofatleast$500,000.Theseassetsarecomprisedofart,rarecoins,

stamps,antiques,collectorautos,estatejewelry,etc.Manyofthese

items,whichhavebeenacquiredorinheritedoveralifetime,aresimply

ignoredby99%ofadvisors.

Mostadvisorsarelookingfornewcashassetsorlooktoreposition

capitalassets(movefromstockstoETFstoannuities)tocreaterevenue.

AdvisorswhoarepatientandCREATIVEwillbeabletohelpmany

clientsinthere-capitalizationoftangibleassetstoprovideclientswith

fundsforretirementorotherexpenses.Theresultisrevenuefor

boththeclientandtheadvisor.

Burnett Marus, RFC® Richardson, TX

IARFC Leaders and Financial Industry Experts were asked for their insight and advice on issues facing consultants in today’s economy.

This month’s Round Up question:

Which course of study would you recommend for staff associates?

COACHESORNER

TheIARFCispleasedtoprovidecontactinformationonpersonswhooffercoaching,mentoringortutoringservices.

SomeextendfreetimeoradiscounttoIARFCmembers.Thislistingisnotanendorsementorguarantee—asRFCsarequalifiedtojudgewhocanhelpthemintheareaswhereservicesaremostimportant.Thisrosterisalphabeticalbylastname.

Wilma Anderson, RFC®

Long Term Care & Critical Illnesswww.LTCcoach.com

[email protected]

Max BolkaComprehensive Business Consulting

[email protected]

8004723288

Forrest Wallace Cato, RFMA, RFC®

Media Advocate & Publicistwww.CatoMakesYouFamous.com

[email protected]

Mark Gremler, RFC®

Billion Dollar Mentoringwww.billiondollarmentoring.com

[email protected]

Christopher Hill, RFC®

End of Life Plan — Education, Training and Marketing

[email protected]

7039178501

Maribeth Kuzmeski, MBAPractice Management & Marketing

[email protected]

8473674066

CALENDAR OF EVENTS

Fee-Based Planning for Business ClientsCallforDatesandVenues

Ultimate Power Producers Conference May5-6,Denver,CO

MDRT Annual Conference June5-8,Atlanta,GA

CE @ Sea Southern Caribbean Cruise June26–July3,2011

IDA Dragon Awards August4-7,Seoul,Korea

NEW IARFC MEMBERS

DaleD.Carey,RFC®,WAElizabethA.Delude,RFC®,VAJeffreyP.Ferretta,RFC®,CAKarenY.Geiger,RFC®,OHRobertE.Grace,RFC®,FLJonathanS.Kuttin,RFC®,NYDavidS.Mirolli,RFC®,GARayG.Reese,RFC®,MODanielB.Shock,RFC®,FLJamesD.Stillman,RFC®,NCJohnDavidTaylor,RFC®,MICraigS.Wright,RFC®,OH

Members Who Recommended New Members

WilmaAnderson,RFC®PeterD’Arruda,RFC®

WilliamP.Martin,RFC®

JohnBryanPhilpott,RFC®

DoraSiegferth,RFC®

Referror of the Month Wilma Anderson, RFC®

The IARFC is proud of our members and in reverence we would like to remember our passing members:

James M. Moore, Jr., RFC®

Lincolnton, NC

Page 2 The Register | May 2011

Spotlight on IARFC Benefits:

We Have a New Look

Amy Primeau, Domestic Membership Chair

IARFC Member Services: [email protected] or call 800 532 9060 x34

Haveyouloggedontowww.IARFC.orginthepastcoupleofmonths?Didyouthinkyouwereonthewrongsite?Nottoworry!WerolledouttheredesignedIARFCwebsiteinmid-February.Manyhourshavebeenputintothedevelopmentofthenewwebsite.Theresultisabright,crisperlookingwebsite.ThehomepagegivesyouaquickglanceatwhatiscurrentlyhappeningwithIARFC.ThecoverofthecurrentRegisterandanIARFCNewscolumnareontheleft.Youcaneasilybrowsethis,clickinganyofthelinksformoreinformation.Thecolumnontherighthighlightsupcomingevents.

Thebiggestchangetothewebsiteisthelogininformation.Inthepast,yourlastnameservedasyourusername.Thiscreatedproblemsforpeoplewithcommonlastnames,suchasSmithorJones.Inanefforttomakeyourprofilemoresecure,thenewwebsiterequiresane-mailaddresstologin.Youwillfindtheloginareaintheupperrightcornerofthehomepage.Enteryoure-mailaddressandyourpassword,andyouwillbeabletologin.Youmaynotbeabletologinifwedonothaveane-mailaddressonfileforyou.Pleasecallmeandgivemeyoure-mailaddressbyphone.Icanupdateyourprofilewhileyouareonthephone.Youwouldthenbeabletologin.Thee-mailaddressweuseforyourlogininformationisthee-mailaddressyouprovidedonyourmostrecentrenewalform.Wehavestressedtheimportanceofincludingyoure-mailaddressontherenewalforminthepast,butitisevenmoreimportantnow.Intheabsenceofabusinesse-mail,youcanuseyourpersonale-mail.Ifyoudonothaveane-mailaccountatall,thereareplentyofservicesyoucanusetosetupanaccountatnocost(suchasYahoo,Hotmail,andGmail).

Ifyoucannotrememberyourpassword,clickonthe‘ForgotUsernameorPassword’linkinthelogininformation.Youwillbeaskedtoenteryouremailaddress,andthepasswordwillbeemailedtoyouwithinafewminutes.

Youwillfindallofthevaluableinformationfromthepreviouswebsitehasbeenretained:Consumerarticles,memberbenefitsinformation,archivesoftheRegisterandtheJournal of Personal Finance,FinancialCalculators,MembershipInformation,andtheMembershipRenewalform.

HaveyoualreadyjoinedourgrouponLinkedIn?Itisnoweasierthanever.Clickonthe‘in’logoonourhomepage,andanewwindowwillopentakingyoutoLinkedIn.YouwillbeaskedtosigninifyoualreadyhaveaLinkedInaccount,ortocreateoneifyoudon’t.

Wearestillworkingonaddingfeaturestothewebsite.Wehopetohavetheonlinestorefunctioningbeforelong.Withthestore,youwillbeabletoorderanyoftheitemsavailableintheMemberBenefitsbook.Wealsohopetoenableyoutorenewonline,andeventoapplyformembershiponline.

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Themediaisbecomingtoodelightedwithbadnews.Theyloveit—certainlybecauseitcontributestoratings—moreattentionfromreaders,listenersandviewersandthatleadstoincreasedadvertisingrevenue.Buttheyaremovingfarbeyondreporting—tocreatingthebadnews…andtoglorifyinginit.

Icansympathizewithareporterwhoiswatchinghisorher401(k)plandissolve,orseeingthevalueoftheircompany’sstockinrapiddecline,orthemarketvalueoftheirresidenceshrinkbelowthebalanceofthemortgage.Thistypeofeventmakeseveryoneangry.Angrywithforcestheycannotcontrol,andangrywiththemselvesforacceptingtoomuchriskandfailingtoreasonablydiversifytheirholdings.AndintheserespectsIamabitupsetwithmyself.

Buttoabsolutelylovetheopportunityfor24-hourreportingoftsunamisinIndonesiaortheearthquake,tsunamiandnuclearmeltdowninJapanisunconscionable.WhycontinuetofrightentheAmericanpublicwiththeremotepossibilitythatnuclearfalloutfromtheDiiachiplantwillpermanentlydamageAmericans?Whyshowthesamescenesofdevastatingwreckagefromthetsunamiwaves…overandover…fordays?WhynoreportingonthevalianteffortsoftheJapaneseworkerstoaddresstheproblems?

Surroundingthe6nuclearplantsaredozensofredemergencyvehicles.Wherearethevideoclipsofthoseworkersandwhereisthereportingonwhatthosehundredsofworkersaretryingtoaccomplish?MysuggestiontoAndersonCooperwhopontificatesfromafaristhis.“Putonahazmatsuitandgoupclosewithyourcamerasandtelluswhatisreallyhappening!”Iamtiredofexpertsfrom10,000milesawaytellinguswhatmighthappen,eveniftheyarefromMIT.

WhyshouldthesemediapunditsassumethattheJapanesegovernmentofficialsarewoefullystupid,ill-informedoroutrightliars?Ihavegreatrespectforthoseleaders,andfranklyItrustthemagreatdealmorethansomeofthosehereintheU.S.Furthermore,Iwouldbetthatsome

ofthemhavebeenalotclosertothereactorsthanhaveAndersonCooperandSanjayGupta,whoistrainedasaneurosurgeon,notasanuclearexposuremedicalexpert.

Now,themediahasshiftedtoLibyawhereitisopenlyandaggressivelysupportingtherebelliousgroups.TheymaypresentabetteroptionforthetotalcitizenrythanMuammarGaddafi—butisCNNqualifiedtoassessthat?Whatifthenextroundofrulersisworse?Theproperjobofthemediaistoobserve,researchandreport—nottakesides,andnotusetheirTVcamerastoinciterebellionanddiscord.

FirsttheU.S.wascriticizedfornotparticipatingmilitarilyinLibya.Thenitwascriticizedasbeingtooaggressive.Nextitwasblamedfortargetingthegoodcolonel.Mediarepresentativesrushedtothesceneformorebroadcasts—effectivelyreducingthetargetingopportunitiessincewecouldnotaimmissilestostrikethespotfromwhereCNNwasbroadcasting.

Whatthemediawantsisreal timecoverage—eventswhiletheyhappen….Groundshaking…waterfloodinganddestroyingpropertyandpeople…nuclearfumes…tanksinflamesondesertroads.Isthemediareportingonly—oraretheyencouragingactivityforthesakeofratings?

Meanwhilethereportingondomesticissuesiswoefullyinadequate.Havethesecommentatorsreadandabsorbedtheprovisionsofthe2000-pagehealthcarebill?HavetheyevaluatedthetruecostofTARPandhowitrelatestotheballooningsalariesandbonusesofbankofficers?

TheylovepresentingvideoclipsofBernieMadoffandAllenStanford—greatPonzischemers—buthavetheyeverexposedtheworld’sgreatestPonzischeme—theU.S.SocialSecuritysystem,andthetheftofallthereservesbyU.S.Congress?

From the

Chairman’s Desk…

Scan this QR code with your smartphone

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which can include subjects relating to practice management, delivery of professional services, portfolio management or financial product application and service.

10. As an applicant for registration, I understand and agree that my RFC designation with the IARFC will not become effective until submission of all required documentation in proper order and upon written acceptance by the IARFC.

11. I understand that all IARFC Certificates of Registration remain the property of the Association and must be destroyed or returned to the Association should my membership or the right to display the designation certificate be suspended or terminated.

12. I understand that continuation of the RFC designation requires 40 hours of CE per year, which commences January of the year following acceptance.

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Please recommend associates or colleagues for the RFC designation — or the Financial Planning Process™ course:

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insurancecompanieswerenothiringwomen—butsomeofthemknewtheyneededtostart.Iwon’tboreyouwiththeweirdstoriesoftheMutualofOmahaguywhosatthereandwatchedmeasIansweredquestionsfromataperecorderortheEquitableofIowaGuywhoguaranteedHEwouldmakemesuccessful(myOWNboss,remember?).

ApparentlyItestedwellforthefieldbuttheonlyonewhokeptmecomingbackwasMikeMartinatEquitableLifeAssurance.HehadbeentoameetingwiththenCEOCoyEklundandcamebackhomepumpeduptohirewomen.Yearslaterhetoldmethestoryofwhatwasgoingonbehindthescenes.EverytimeImetwithhimhewouldgivememorestufftoreadandstudy.Itwentonfortwomonths.Withthelastbatch(thelicensingbooks,Ithinkitwas)Ifinallysaid,“Now,ifIcompletethisI’mhired,right?”ApparentlyhewentintotheBranchmanager’sofficeandsaid—nowwhatdoIdo?—andthemanagersaid,“Hireher!”.IhadastronginterestintaxreductionsoIworkedwithteachersand

learnedtodesignbusinesspensionplans.Ialsocalledcoldmortgageleads—whew!Stillmakesmeshiver!

Ihadacoupleofblessingsgoingformeintheearlytimes.First,Miketrainedmethesamewayhetrainedallhismaleagents.Mike’swife,MC,wasabigsupporter—whichwasgoodsincejointworktrainingwithawomanwassomethingnew.InNovemberofmy3rdyear,EddieFeimanchallengedmetoqualifyforMDRT,blesshisbigol’heart.Igotmyadvancedtrainingthere.Anotherblessing—IhiredAnneLloyd.Shewasmy‘keyagent’—theonepersonwhoreallyhelpsyoubuildyourorganization—goodonthephone,willingtohelpotherreps.ShehadgonetocollegeafterherkidsweregrownanddecidedtointerviewwithmeontheSUcampusbecauseIwasoneofonlytwowomeninterviewing.

SothiskidfromthesticksofNJ(believeme,thereWERE‘sticks’inNJthen...)withadegreeinvoiceperformanceand3foreignlanguages,fewtonocontacts,norealsalesbackground—gotstarted.Itisamazingto

Ienteredthefinancialfieldin1974fortworeasons—tobemyownboss(andmakemyownmistakes?)andtohelppeople.Mybusinessmodeltodayhasevolved,butnottohaveabilliondollarsofassetsundermanagementandmakemoreandmoremoney.Iwanttoknowwhomyclientsare,whotheirfamiliesare,whatisimportanttothem,whatkeepsthemupatnight,tobewiththemwhentheyareillorwhentheyarecelebrating.Thepracticeisstructuredsowecandothistypeofworkandstillmakeagoodliving.

Asmyeducationandexperienceincreased,itwasclearthatthebestfitformewasaboutiquepractice.I’dalreadysuccessfullydonethebigcompanymanagerthingwithEquitable—andIlearnedalot.Ididn’ttakethepromotionsofferedandwentsoloinstead.LuckilyIdiscoveredayoungmanwhohassimilargoals,ethicsandattributesandwehavethrownourbusinesslivestogetheroverthepast9years.Mydaughterisalsointhefieldandperhapsthetwoofthemwillworktogethersomeday.

Alittlebackgroundorhistory—Iwasajuniorhighschoolmusicteacher—bydefault.TrainedasaMezzooperasingerandrealizingIhadnodesiretoclawmywayupinthatprofession,Itaughtforthreeyears,lovedtheclassroomandgaveitupbecauseofadministratorsandthreatstocancelthemusicprogram(threatswhichcontinuetoday,I’msadtosay).Musicsavedmylifeinhighschool.Severalstudentshavestayedintouchformorethan20years.Wehadalotoffun.OtherolderhistoryincludedadmissionsofficeclericalworkasanSUundergradwork-studyprogramandbusingtablesattheFarHillsInnrestaurantinhighschool—allgreattrainingforproblem-solvingandlearningtothinkonyourfeet!

So,it’slate1973andIamlookingtomakeacareerchange.WhatdoIdo?IknownothingofjobswhereIcouldbemyownbossorrunthingswiththebackgroundIhad.SoIgotoanemploymentagency.TheyaskmeifIcantype.Idosomethingtotallyoutofcharacter.Ilie.Isay“No,can’ttype”.Sotheysentmetointerviewwithinsurancecompanies.Nowinthe1970s

Profile Interview

Donna GraberBack to the Future: Doing Business the Old-Fashioned, Relationship Way

The Register | May 2011

AlongthewayIhadacoupleofkids.WecalledthemEqui-KidsafterakickthecompanywasontocalleverythingEqui-thisandEqui-that.Whenthemarriagebrokeupwesplitcustody.WhentheywerewithJackIworked.Whentheywerewithmewehungoutanddidfunstuff.Theyareawesomeyoungpeopletodayandverytall.Ilookupatthem.Payback,IsuspectfromwhenmysisterandIusedtopatourmotherontheheadduetohersmallerstature.Nowmytwocandothattome!

In2003wedidsomepsychologicalpersonalitytestingandfoundoutthatrelationshipswerethemostimportantthingforbothmeandbusinesspartnerTimothyMorgan.Wehad600clientsatthetime.Youcan’thaveameaningfulrelationshipwith600people.Sowedownsized—to25.Wehelpedsomefindnewadvisorsandkeptafewwhowantedtostaybutdon’trequiremuchattention.Weprovidefullservicefortheplanningclients.WebegantobuildanentirelynewkindofpracticeintheRIA.AFamilyOfficeServicespracticeforaffluentclientswhowantedtodelegateoversightresponsibilitiessotheycouldenjoylifeandthethingstheycouldnotdelegateliketheirfamilyrelationships,healthandfitness,friendships,travel,etc.

Let’sseeifIcanadequatelydescribehowthatworked.Ohyes,bunnytrail—Iwentbacktoschoolin1996,gotalawdegreewithaconcentrationintaxandtookthebarexamin2000.Thathelpsourkindofpracticealot.SomeoftheplanningwedoforclientsintheRIArequiresalegalbackground.Wedon’tdrawdocumentsandwedon’tdoincometaxes,butwedoreviewalotoftaxreturnslookingforopportunitiestoreducetaxesandforanyerrorsandIreviewestatedocumentsandhelpclientspreparetogototheattorney.Helpingclientsunderstandtheirdocumentsandconnectthemwiththeirvaluesandselectstrategiesthatwillhelpthemmeettheirgoalsisverysatisfyingwork.Onepriorityisgettingasmuchoftheestatetothekidsaspossibleandoftentothegrandchildrenaswell.

OurRIAdoescomprehensivefinancialandestateplanning—nomoneymanagement.OvertheyearswefoundwehadtowriteourownsoftwarespreadsheetsfortheRIAtokeepthingscomprehensiveyetsimpleandunderstandable.TheBackRoomTechnicianhasbeenastapleofthepracticeforabout30years.Singlewomen(orsingleagain)andwidowsespeciallyseemtovaluethetypeofhand-holdingserviceweprovide.Spendingtimewiththemmakesthisfeel

likeit’snotevenwork!Theyareabouthalfofourcurrentclientbaseof43.

AsIamgettingolder—andamfinanciallyabletoretireeventhoughIhavenoplanstodoso—Irealizewewillneedanotherlawyerinthefirm.TheadvisortimethathastobededicatedtoeverincreasingcompliancemakesthisaverydifferentbusinessthantheoneIenteredin1974.Oneofourapprenticesisinterestedinlaw.We’llseehowthatgoes.Currentlythepracticerunswith2-3yearapprenticesfromtheSyracuseUniversitybusinessandpublicrelationsschool.AfirminPittsburghdoingthiswellwasourmentorandmodel.Wegetsomebrightmindsandtheygetalotofhigh-leveltraining.I’mhavingsomefunteachingagraduatefinancialplanningcourseandretirementplanningseminarsforprofessorsandstaffthroughourRIA.Rightnowthebusinessschoolisworkingoninstitutingafull-fledgedCFPprogram.Onthemoneymanagementside,Iambeginningtothinkweneedanotherassociate.Findingsomeonewhoiswillingtostepawayfromthemoretransactionalsideofthebusinessandembracefee-basedincome—butwhostillknowshowtohelpclientsmakeeffectivedecisions—thatwilltakesomesearching.

Weworkreallyhardabouthalftheyearandspendalotoftheothertimeinvolvedwithvolunteering.Ihaveastronginterestinhomelessnessandspent14yearsvolunteeringwithourlocalRescueMission’sPlannedGivingCommittee.TimMorgan,my34yearoldotherbusinesshalf,isheavilyinvolvedinscouting.Herunsascouttroopthathasgrownfrom12to50underhisleadership,takesthekidscampingeverymonth(ifyouwanttoknowwhenitisgoingtorainorsnow,justcheckhiscampingschedule!).Timhasseveralyoungmen“eagling”eachyearandistheyoungestmemberoftheLongshoreCouncilScoutingBoardandheadsupmembership.IthinkanEagleScoutmakesagreatethicalpartner!Hiseconomicseducationandhistoricalmoneymanagementresultsdon’thurteither!

Ifyouthinkthereissomethinginthisarticlethatinterestsyou,givemeacallordropmeanemail.IwouldlovetoseemoreadvisorsadoptthisbusinessmodelandIprobablydon’thaveenoughyearslefttopaybackalltheno-stringsattachedhelpI’vegottenoverthepast30+years!

Contact: 315 423 [email protected]

seehowthingsevolvedsincethen.Awomanhittingsomeofthehigherproductionandmanagementdevelopmentlevelsputmeonthecompanyradar.Iwasaskedtospeakatanationalwomen’sconferencein1978.Thenstartedrunningmydistrictasafinancialplanninggroupintheearly1980s(aftergettingtheChFCdesignation).Evengottodoakeynotespeech(Iwasthetokenwomanspeaker)inArizonaforthetopmanagersin1987.Therewereascary500+peopleintheroomandafterthetalktheywerefightingoverthehandouts—“HowtoRunaFinancialPlanningDistrict”.Theopeningwordsofthetalkarestillverytruetoday“IHATErejection!”That’swhyILOVEfinancialplanning!

In1982Iwasintroduced(atMDRT?)toEdMorrowandhiscompany,FinancialPlanningConsultants.NotwantingtoreinventthewheelwhenweformedanindependentRIA,weaffiliatedwiththemintheearlyyears.TheirPracticeBuildersoftwareisstillourmainorganizingprogram.IwroteasongforaCPSannualmeetingaboutthetransactionsideofthebusinesstothetuneof“WillYouStillLoveMeTomorrow”—“ButWillYouCallMeTomorrow”andrealizedthatamovetoafinancialplanningbusinessmodelwasworthfightingfor.Amazingthatsomehomeofficepeoplethoughtyoucouldn’tmakeanymoneydoingplanning.OnepersonevenwantedtobanournewlyacquiredChFCdesignations.

Speakingofhigherups,Iknowthat’showIgothere.Puttingonefootinfrontoftheother,workingreallylonghoursandlisteningtomyultimateleader.TherehasbeenahedgeofprotectionaroundmefromthebeginningandIamvery,verythankful.The Footprints in the Sandpassageismystory.ForexamplejustasIwasheadingtolawschoolin1996,ourlocalclassicalradiostationacceptedaproposalforustododailyradiovignettesabouttax,lawandfinance.Wediditasacommunityservice.Theydidn’tpaymeandIdidn’tpaythem.Noadvertising,justeducation.Still,someofthepeoplewholistenedregularlysoughtusout—usuallybycallingmyhomephoneandasking“AreyoutheDonnaGraberonPlanningSense—Oh,Irecognizeyourvoice—canIcomeinandtalktoyou?”Ifyou’veeverdoneradioyouknowthatweirdthingshappen.Likestandingatthecornedbeefcaseinthegrocerystoreandsayingtotheotherwomanthere—Iwonderwheretheleanercutsare.Andsheturnsandsays—“You’reDonnaGraberaren’tyou?”.Ahumblingexperience.Apparentlyitwassuccessfulathelpingpeoplechangetheirfinanciallivesforthebetter.


Thesecondthingtounderstandistheobjective.Ifyouaresellinghighvalueproductsandservices,yourobjectiveisNOTtomakeasale.Therelationshipandsubsequentintroductionsarefarmorevaluablethanmerelyonesale.And,actually,it’snotjustoneobjective,butratheraseriesofobjectives:

1.Showyourselfasbeingsafe.2.Establishtrust.3.Makeastrongpersonal

connection.4.Provethatyouarearesource

tohelptheclientthinkthroughtoughquestions.

5.Causethatclienttoreflectonandthinkaboutyourconversationthroughthenext24hours.

Ifyoucanaccomplishthoseobjectives,youwillhavemadeyourconnection,demonstratedyourcredibilityandavoidedalienatingyourselffromthatperson.

Questions Rule

Themosteffectivetoolyoucanusetoaccomplishallofthoseobjectivesisquestions—ah,butwhichquestions?Becausepersonalitytypesandvaluesdifferfrompersontoperson,it’snoteasytoknowwhatwillbethemosteffectivequestionstoask.So,I’mgoingtoteachyouaprocessthatwillhelpyouquicklyseewhich

questionsaretherightonesattherighttime.

It’sano-brainertwo-stepprocess,sojustenjoythe

conversation.Startbyaskingsimpleshort-answerquestions.They

allowtheprospecttoexpandhisthinkingoutsideofthesolution

boxandintomoreareasofhislifeandmoreaspectsofhis

business.And,thewayyoudothatistomakeasimplestatement

first,thenaskthequestion.

InPartOneofthisseries(theRegister,February2011),Iexplainedtheveryfirstobjectiveinaconversationwithapotentialclient.Today,we’regoingtolookmoredeeplyintotheprocess—howtouseverysimplepsychologytohelppeoplesay“Yes”toyou.

Thefirstthingyouneedtounderstandisthatpeopledonotlikebeingputintoabox.Thatmakesthemfeeltrapped.And,there’saplagueofitinthefinancialindustry.Ithappenswhenyoujumptothesolutionbeforetheprospecthasfinishedexpressingtheproblem.Ifyoujumpinbeforehe’sfinished,youaredragginghimintowhatiscalledthe“SolutionBox.”Assoonasyoudothat,youaretakingthefocusoffhelpingtheprospectandforcingitonhelpingyourself.Unlessyou’resellingunimportantconsumerproducts(tubesocks,pencils,printerink,hairproducts,vitamins…)theprospectwillfeelmanipulatedandtrapped.Thisisespeciallytruetodaywhentheconsumerfeelssobetrayedbythefinancialindustry.(see Edelman Trust Barometer)

Psychology of Selling The First 8 Minutes (Part 2)

Category Dangerous “Solution Box” Set-Up StatementConsultative Questions

No “Box” Attempt

FinancialPlanningService ■Areyoutiredofmarketvolatilityyet?

■Howmuchmoneyhaveyoulostinthestockmarket?

■Howmanyofyourinvestmentsaretotallysafe?

■Howmuchmoneycanyouaffordtoloseinthestockmarket?

■Doyouconsideritimportanttohavefinancialprotectionforyouandyourfamily?

■Thefinancialindustryisreallyconfusing.

■Therearemanydifferentwaystoinvest.

■Intheolddays,justaboutallyouhadforinvestmentswerestocksandbonds.Today,youhaveahugeselectionofdifferentthingstochoosefrom.

■Haveyounoticedthat?Hasanyoneeverexplainedtoyouwhy?

■Didyoueverwonderhowsomanysmartpeoplecouldbesowrongsooften?

■Areyoufamiliarwiththedifferentcategories?

■Mostpeoplehaveamutualfund.Isthatpartofyourportfolio?

Insurance ■Doyoueverloseanysleepthinkingyourinsurancemightnotbeuptodate?

■Doyouknowanyonewhohassufferedfromtoolittleinsurancecoverage?

■Areyou100%confidentthatyouhaveenoughinsurancecoverage?

■What’stheworstthingthatcouldhappenifyoudidn’thaveenoughinsurance?

■Insuranceisacollectionofproducts(ortools)intendedtopayyoumoneywhenyousufferaloss.

■Insuranceisnotforeveryone.

■Hasanyoneeverexplainedtoyouhowitworks?

■Wouldyoubeopentofindingoutifit’srightforyou?


Thestatementsetsupthequestion.But,thequestionsaremorereflective.They’refriendlier.Theydonotaimatthesolution.Thinkofthemashelpinghandsguidingtheclientthroughaprocessofsituationalthinking.Firstthegeneraltopic.Nextaslightlymorespecificsituation(determinedbytheprospect).Theyincludereflectivepauses.Seethetableshown.Theleftsideshowsyouthequestionsnottoask,andtherightsideshowtheonesyoushoulduse.Justmixandmatchthem.

Why does this approach to questions work?

Becausewhenyouaskthem,you’renottalkingaboutyourself.However,theygiveyoutheopportunitytodemonstratetoyourprospectthatyou’renotoutforaquicksale.Youdemonstratethatyouknowhowtolistenandhonestlywanttohearwhathe/shehastosay.Youdemonstrateyourexperienceandwisdom.Youmightthinkaboutitlikethis—anyonewhowillhavethatconversationwithyouisstilllookingforanadvisorhe/shecantrust.Isthatyou?

Your IARFC Reward.Ifyouwanttolearnmoreabouthowtoincreaseyourcredibilitywithyourtargetaudiences,justcopythisparagraphintoanemailandsendittomeat:[email protected]:“6ThingsYouCanDotoEnhanceYourCommunicationCredibility.”

Michael Lovasistheauthoroftenbooks,threecolumns,andathousandarticlesonProfessionalCredibilityandthePsychologyofCommunicationinthefinancialindustry.He’stheco-founderofAboutPeopleandthepioneerofCredibilityMarketing.FindMichael’sbooksat:http://www.aboutpeople.com.

Contact: 509 465 5599 [email protected]

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Thepolicypaysuponthefirstdiagnosisofseveralmajorillnesses,includingcancer,heartdisease,stroke,Alzheimer’sdiseaseandorganfailure.Benefitswillvarybetweencarriers.Onceleadinginsurer’spolicy,forinstance,willpayuponthefirstdiagnosisof12majorillnesses.

Whenacritical illnessisfirstdiagnosedbytheclient’sowndoctor,theinsurancecompanypaysthepolicyholderalumpsumequaltothestatedbenefitintheirCIpolicy.Yourclientneverhastoworryabouttheinsurerdeterminingwhetherornottheyaretrulydisabled,orthattheydon’tneedlong-termcare.Themoneytheyreceivefromtheinsurancecompanycanbeusedforanythingtheywant,whetherit’stopayfortheirmedicalexpenses,businessexpenses,orpersonalexpenses.

Yourclientorclient’sdoctorwon’tneedtosubmitatreatmentplanorongoingclaimformsliketheydoforlongtermcareinsuranceordisabilityinsurance.It’sonce-and-it’sdone!Withlongtermcarepoliciesaclaimformhastobesubmittedeachmonthforservicesperformedorgiven,andthepolicyholderstillhastoalwayshealth-qualifytoreceivetheirbenefitsfromtheLTCpolicy.ACritical Illness policypaysyourclientalumpsumandtheycanusethatmoneyforanythingtheychoose.

TheCritical Illness policyiseasytouseandexplain.Itsstraightforwardsimplicitywillappealtoallofyourclientsandprospects.

Tohelpyourclientsandprospectsdecidehowmuchcoveragetheymightneed,askthemhowmuchthefamilywouldneedforthreemonthsoflivingexpenses—orforthreemonthsofoperatingexpensesifyourclientisabusinessowner.(Doctors,dentists,chiropractorsandotherself-employedprofessionalswithongoingoverheadexpensesareexcellentprospects.)Mostpeoplewillneedsomewherebetween$25,000and$150,000topaytheirbillsforthefirst90daysaftertheyhaveanillness.Theminimumbenefitforacriticalillnesspolicyis$10,000inmostStates;themaximumcoverageisnormally$500,000,thoughupto$1millioncanbeissued.

OnlyafewcarriersdominatetheUSmarket,includingAmericanGeneral,ProtectiveLife,Assurity,andMutualofOmaha.Whileunderwritingisn’tasexhaustiveasitistoapplyforanLTCorDIplan,Critical Illness policies—(exceptforsmallerfaceamounts)—arealwaysunderwritten.Underwriterswillaskapplicantsifthey’vehadanyimmediatefamilymemberswho’vehadaheartattack,stroke,cancer,etc.andit’suseful

MostAmericansarefacingabiginsurancegapthey’renotevenawareof.Andbyshowingyourclientshowtofillthatgap,youandyourclientcanbothbenefit.

Mostpeoplewhoarestrickenbyamajorillness,likecancer,heartdisease,strokeormultiplesclerosisaregoingtohavebigbillstocover,eveniftheyhavesolidhealthinsurance.Largerdeductiblesandcoveragelimitationsarebecomingmorecommonwithhealthplans—butthat’sjustthestart.Sincemostfolkshavelittleornodisabilityinsuranceandperhapsnolong-termcareinsuranceatall,they’regoingtohavebigout-of-pocketcostswhentheyhavetomissworkforashort30-,60-or90-dayrecovery,orenteranursinghomeforalongerrecoveryperiod.

EvenpeoplewhodohaveDIorLTCIwillfaceacashcrunchuntiltheusual60-or90-dayeliminationperiodendsandtheirbenefitsbegin.

Theeffectsonafamily’sfinancialresourcescanbedevastating.Arecentstudyshowedpayingforillness-relatedcostswereresponsibleforone-halfofallmortgageforeclosures.

Fortunately,there’sananswer:Critical Illness insurance.ThisrelativelynewproductintheU.S.canplugthatgap.WhiletheproducthasnotbeensoldheavilyhereintheStatesyet,itisverypopularincountriesliketheUnitedKingdom,Japan,AustraliaandCanada.Andnowit’sstartingtogrowquicklyhere.

You can easily earn extra commissions, and increase your client base by learning how to sell this product.

Thepolicy’ssimplicityappealstoprospectsandclientsandAgentswhoaresometimeshesitanttolookatanewproducttosell.Trustme…it’saneasysale—ifyouknowtherighttechniquesandquestionstoask.

Here’showthisformof“financial recovery insurance”works.

Critical Illness Insurance Fills the GapGet In On The Ground Floor of This About-To Explode Market


afterwards.Ifthereisanydenial,it’snowherenearasstrongastheresistancetopurchasinglongtermcareinsurance.

Askyourprospectsiftheyknowsomeoneintheirfamilywho’shadaheartattack,cancerorastroke…andsurvived.Thenaskthemifacheckfor$50,000wouldhavemadearealdifferencetotheirpeaceofmindinrecovery,knowingthattheirfamilywouldnotsuffer.Thatcheckfromtheinsurancecompanycouldmeanthattheydon’thavetoworryabouthowtopaytheirbillsduringtheirrecoveryperiod.Studiesshowthatpeoplewhoaren’tunderfinancialstresswillhealfaster.

There’salsolesssalesresistancebecausecritical illnesspremiumsmightbelowerthanLTCpremiums.Atypicalpolicycarriesa$2,200premium,withanaverage70%first-yearcommissionand4%renewalcommissionspaidtothewritingagent.So,ifyoucansell45policiesayearyou’llearnalmost$70,000moreincomeduringyourfirstyearsellingcriticalillnessinsurance.

Financial Recovery Insurance

Thebuying“sweetspot”forcritical illness insuranceisage35to60.

Youngerpeoplethan35yearsoldmightnotbeasinterestedingettingapolicyunlessthey’vealreadyseensomeillnessintheirfamily,orperhapstheirbestfriendhashadanearlyheartattack.MentypicallybuyCriticalIllnessinsurancebeforeage45,womentypicallybuyCriticalIllnesspoliciesAFTERage45.Yes,it’sstrange,buttrue!Somefolksintheirsixtiesmayhaveahardertimehealth-qualifyingduringtheapplicationprocesssobesuretotakeagoodhealthhistorybeforeyoufillouttheapplicationpaperwork.EverycompanythatwritesCriticalIllnessinsurancewillhaveaProducer’sGuidesobesuretogetoneandcarryitwithyouonyourappointments.

Positionthecritical illnesspolicyas“financial recovery insurance”.Withtoday’smedicaladvances,morepeoplearesurvivingaseriousillnessandgoingbacktoworkafterrecovery.Whilethey’rerecovering,theirmonthlybillswillalwayskeepcominginthemail.Havingacritical illness insurance policycanhelptoavoidafinancialblowtoafamily.Thattax-freecheckcanmakeabigdifference.Itmayevenspellthedifferencebetweenkeepingandlosingtheirhome.

Thistypeofpositioninginyoursalesprocesswilldefuseaclient’sdenial,andit’samoreoptimisticscenario.Every

clientandprospectrealizesthatsomethingcouldindeedhappentohimorherthatwasunexpectedandunplanned.Nooneplanstohaveaheartattackorstrokeorcancer.Byhavingcritical illness insurance,thechecktheyreceivecanmaketheirlifealoteasierfinanciallyduringtherecoveryprocess.

Youcanstartsellingthesepoliciestoyourexistingclientsduringtheirannualreview.Andyoucanreachouttonewclientsthroughdirectmailandadvertising.Oneenterprisingagentwhoadvertisedwithatombstoneadinaregionalmedicaljournalisgetting45physicianinquiries/leadsamonth.YoucouldusethesamestrategyinthemonthlymagazineornewsletterfromyourState’sbarassociationtoo.

It’s hard to stand out from the crowd unless you have something different to offer. Critical illness insurance gives you a unique product that meets a real consumer need.

Takeadvantageofthisopportunitynow,beforeeveryoneelsegetsonthebandwagon.PositionyourselfastheAdvisorwithan‘Edge’overyourcompetitors!

Wilma G. Anderson,RFC®theLTCCoach,isAmerica’sleadingLTCIsalestrainerandapracticingproducerwhohaspersonallysoldover7,000long-term-carepolicies.Sheofferspersonalizedcoachingsessions,workshops,androutinelygivesspeechesaboutlongtermcare,criticalillness,theVAAid&Attendancepension,andhowtosurviveretirementpitfalls.LetWilmashowyouhowtosellmoreLTCI,criticalillnessinsurance,annuities,andinvestmentstotheseniormarketwithlesseffort!


fortheagenttohavealistofthemostcommonillnessesorconditionswhichcaneliminatetheirclientfromtheUnderwritingprocess.Thiswillhelptheagent’splacementratioimmensely.

NewonthemarketfromAmericanGeneralisanAccidentExpensepolicywhichisaguaranteedissue,andthenCriticalIllnesscoveragecanbeaddedasariderforupto$25,000ofbenefits.UniquetothisCritical Illness riderishavingtoonlyanswerwhetherornotyouhavehadcancer,astroke,oraheartattack.Ifthose3questionsareanswered‘No’,thenyour client’s policy will be issued.

Everycompanyrequiresapplicantstobeundertheageof65whentheyapply.Someinsurerswillkeepthepolicyinforceforyourclient’slifetime,andbesuretoknowifthepolicybenefitsmaybecutinhalfafterage65or70.

OneofthebiggestobjectionsprospectiveclientshavewithpurchasinganLTCpolicyisthatifthepolicyisn’tused,themoneyspentonpremiumswillbe“wasted.”Critical IllnesspolicieswhichhaveaReturnofPremiumriderprovideabuilt-inanswertothatobjection.Withthisrider,ifyourclientdoesnotuseanybenefits,thepremiumsthatwerepaid-inwillberefundedtotheestateaftertheinsured’sdeath.AmericanGeneralincludesthisbenefitautomaticallyinitsbasepolicy.

Be sure to also look at the Critical Illness policies that are designed on life policy chassis.Afterthedeathofthepolicyholder,therearelifeinsurancebenefitsthatwillbepaid.Theonlygrayarea,sotospeak,inthesetypesofpoliciesarewhetherornottheCriticalIllnessbenefitspaidtoapolicyholderareconsideredtax-free.Withastand-aloneCritical Illness policy,thepaidbenefitsareconsideredtax-free,unlessthepremiumswerepaidbyacorporation.

Making the Pitch

LTCcanbeadifficultsaleformanyagentsbecauseit’snecessarytobringupsomanyemotionsaroundaginganddisability.Itcanbetoughtobreakthroughthedenialofaprospectthatitwon’teverhappentothem.

ButmanypeoplewhoruleoutLTCIpoliciesforthemselvesareopentoconsideringCritical Illnessinsurance.Youmightthinkitwouldbringupsimilardenialstories,butitdoesn’t.Yourclientorprospectcancertainlyimaginehavinganillness,becausetheyfully expect to go back to workornormalactivities

Wilma G. Anderson, RFC®


Transfer of Funds

Therearemanyrestrictionsandrequirementsplacedonattemptstotransferfundsfromonecountrytoanother.Somenations,noworlater,restricttheexportoffundsunlessthereisafulldisclosureandpropereconomicjustification.Thelargertheamountofmoneyinvolved,thegreaterwillbethelikelihoodofrestrictions.

However,itisveryclearthatitismucheasiertotransferfundsfromonenationtoanotherwhenthetransactionismadefromonecompanytoanother.

Transfertoanoffshoretrustmayalsoattractlessattention,regulationandrestrictions,sincetherearepresumedtobelegitimateestateplanningmotives.

Using Offshore Trusts

ATrust Agreementisawrittencontractthatdeterminesthereceipt,administration,investmentanddisbursementoffunds.ThesetransactionsarealloutlinedinthelanguageandprovisionsoftheinitialAgreement.

Irrevocable Trusts.Sometrustagreementsareirrevocable,meaningthatonceestablished,thetermscannotbemodifiedbythegrantor.Thisirrevocablestatusprovidessubstantialprotectionandtaxbenefits,butitrequiresconsiderablethoughtmustbegiven,beforeexecution,

tothetermsandlanguageofthetrust.Thetrustmustbeincompliancewiththelawsofthejurisdictionwherethe

trustistobeadministered,thelocationofthedocument’sexecutionandthelocationofthedistributionrecipients.

Revocable Trusts.Thistypeoftrustcanbechangedorterminatedbythegrantor.Thismakestheproceedsreachableorattachable.However,thedocumentcancausethetrusttobeconvertedfromrevocabletoan

irrevocablestatusuponthedeathofthegrantor.

Grantor.Thisisthepersonwhocausesthetrusttobecreated.Itisnormally(butnotalways)thewealthiestpersoninthefamily.Insomesituations,thegrantorcanbeacorporation—eitherdomesticorforeign.

Situs.Thisisthelocationofthetrust.Itisoften(butnotalways)thelocationofthepersonorcorporationthatservesasthetrustee.

Trustee.ThisistheindividualorcorporationthatischargedintheTrustAgreementwiththeresponsibilitytooperatethetrust.ThetrusteemaybechangedatalaterdateonlyifthereisareasonoriftheoriginalTrustAgreementgrantstheauthoritytoanotherparty(suchasaTrustProtector)todoso.

Trust Protector.Thispersonisgrantedauthoritytochangethetrustee—amovethatmaybesuggestedbasedonpoorperformanceorifthetrustislikelytobechallengedorsuedanditisdesirabletohaveitlocatedelsewhere—suchasacountrythatsignificantlyprotectsatrustfromlegalattachmentorseizure.TheTrustProtectorcannormallyalsoreplacetheTrustFinancialAdvisorforpoorserviceorincapacitytocontinueservice.

Trust Financial Advisor.Thispersonisusuallythefinancialconsultantorfirmthatisresponsibleforinitiatingthetrustcreationthroughfinancialbusinessandestateplanning.Thispartyisoftenlicensedasalifeinsuranceagentand/orasecuritiesbroker.Theappointmentservestodesignatewhothegrantorwishedtohaveprovideinsuranceandinvestmentguidancetothetrustandtofuturebeneficiaries.

Beneficiaries.Thesearethepersonswhocanreceivebenefitsfromthetrust.Inmanycasesthetrustrestrictsthefashionandtermsofwhichbenefitsaretobepaid.Thisprovisionmayofferverysubstantialprotection,taxandadministrativebenefits.

Income Beneficiary.Apartywhoreceivesagreementsofincomefromthetrust—butnotportionsofthetrustprincipal.Thismaycausetheavoidanceofestateorincometaxontheprincipalandtheincomebeneficiarywouldhavetaxableincomeonlytotheextentofincomereceived,consideringthejurisdictionwherepaid—whichmaycausetheincometobetaxfree.

Manybusinessownersarelookingforawaytopositionassetsoutsideoftheirprimarycountry.Theremaybeseveralreasonsforthisinterest:

■Liability Protection—thecompanyortheCEOmaybesuedforanyreason–abusinesstransaction,environmentalchallenge,apersonaleventofsometype(suchasadivorceortortcase),orevenaregulatory/legislativechange.

■Political Diversification—thereisalwaysapossibilitythatfuturechangesingovernmentmaycausetheseizureoffunds.Thishaspreviouslyhappenedinmanycountries,suchasU.S.,Germany,Cuba,Russia.Nearlyeverycountryhashadacoupd’étatorrevolutionthathascausedamonetaryseizureofdomesticassets.

■ Privacy—withtheglobalincreaseinterrorismandkidnapping,themorepropertyorfundsthatareretainedinone’sprimarycountry,themoretheyincreasethevisibilitytoattractsuchdangeroustransgressions.

■Offshore Business—tocreateoracquireabusinessentitythatwilloffsetorcomplimentthecurrentbusinessactivity,suchastoacquirerawmaterials,facilitateimports,reduceproductioncosts,orfacilitatecollections.

Offshore Business Planning


Charitable Trusts.Incountrieswithsubstantialestatetaxrates,manydonorsliketomakeadonationtoacharitabletrust,whichcancontroltheultimatedisbursaloffunds.Anexampleisthetrustcreatedin1896byAlfredNobelthatannuallyawardstheNobelprizes.

Acharitabletrustcanprovidelivingbenefits(income)forthenamedfamilybeneficiariesandtheprincipaldivertedforcharitablepurposeslater.Therecanthusbeseveralmotives:assetprotection,incometaxdeduction,estatetaxsavings,increasingfamilybeneficiaryincomeandultimatecharitabledonationdesignatedforspecificpurposes.

Substantialcharitabletrusts,liketheFordFoundationandmanytrustsoffamousfamilies(Rockefeller,BillGates,etc.)alsoprovidelongtermopportunityforfamilymemberstobeinvolvedincharitabledistributiondecisions.

Offshore Is Not Offload

Somepersonsbelievethattolocateacompany,atrustorprivatefundsoffshoreistogiveawaycontrolofflexibility.Thatisnotthecaseatall.Whatoffshoretrustprotectedinvestmentsgenerallymeansislesstaxes,moresecurityandgreatercontrol.

Ed MorrowisthechairmanandchiefexecutiveoftheIARFCandhasbeenapracticingfinancialadvisorforfortyyears.HisadviceandsystemsareusedbythousandsoffinancialadvisorsintheU.S.andacrosstheworld.AstheCEOoftheIARFCheisoneofthedevelopersoftheFinancialPlanningProcesscoursematerialsandafrequentinstructor,bothnationallyandinmanycountries.

Contact: 800 666 1656 ext. [email protected]

Principal Beneficiary.Apartywhowillreceivetheremainingproceedsofthetrust—generallyfollowingthedeathofoneormoreIncomeBeneficiaries.

Spendthrift Provisions.Somegrantorsareworriedthatachild,grandchildorevengreat-grandchildwillnothavegoodmoneyhabits.Theymightevenbesuedbycreditorsorex-spousesandneedtobeprotected.Thistypeoftrustclausecanempoweratrusteetowithholdpaymentsthatare“excessive.”

Loans from a Trust.Atrustagreementcanpermitloanstobemadefromatrust,andinterestatcurrentratesisnormallycharged.Loanproceedsaregenerallyfreeofincometax.Interestmightbedeductibletotheborrowerandtaxabletothetrust—basedonthejurisdictioninvolved.

Loans by a Trust.Atrustagreementcanpermitthetrusteetousetheassetsofthetrustascollateraltomakealoan—suchastopurchaserealestate,startabusinessoragainstlifeinsurancecashvalues.

Withdrawal of Initial Grants.Sometrustagreementspermitthegrantortowithdrawfundsoriginallycontributedtothetrust.Suchwithdrawals,ifpermitted,aregenerallyconsideredataxfreerefund.

Online quote, bind and certificate delivery in minutes

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Common Mistakes Advisors Make With Client Events and How to Avoid Them

by Katherine Vessenes, JD, CFP®, RFC®

COMPLIANCE-FRIENDLY MARKETING

Overthelastfiveyears,smallandlargesocialeventshavebecomeevenmorepopularasameanstomarkettonewandexistingclients.TheseareoftenreferredtoasClientAppreciationorClientEducationevents.

Unfortunately,manyadvisorsarespendingseriousmoneyontheseeventsandnotgettingasgoodareturnontheirinvestmentastheyshould.

Withtheaveragecostperprospectoftheseevents,runningbetween$100and$500percouple,itisessentialthatyouhaveasmanypeopleaspossibleshowupattheseevents,haveagreattime,telltheirfriendsandthenshowupatyourofficeforaninitialmeeting.

Herearethetop5mistakesweseeadvisorsmakingwiththeirclientevents,andhowyoucanavoidthem:

1. The advisor didn’t “sell” or market the event.

Unfortunately,thisisnotacaseofwhatIcall“FieldofDreams”marketing.Youcannotjustbuilditandhavethemcome.Youmusttellyourclientswhatyouaredoing,whytheywillenjoytheevent,what’sinitforthemandencouragethemtoattendandbringguests.Inshort,youhavetomarkettheevent.

Ihaveseenthisstorymanytimes:Takeoneofourclients,whomIwillcallGeorge,anadvisorinNewportBeach.Heonlyworkswithabout40wealthyclientsperyear.HismajormarketingeventincludedinvitinghiswealthywomenclientstoacharityfashionshowinHollywood.ThiswasagreateventastheyonlyhadhighprofiledesignerslikeChannelandPrada,andmanymoviestarsattended.ItwasjustthekindofeventmostwomenwouldgivetheirfavoriteLouboutinstoattend.

Georgeboughtanentiretable,whichprobablycosthimabout$10,000andheinvited20women,thinkinghewouldgetadozentoshowupatthisWOWevent.Actualturnout:two!

Tofillouttherestofthetable,heinvitedallthesecretariesathischurchtoattend.Theywereverygrateful,butnoneofthemhadhisminimumof$2,000,000toinvest!Thismeanthespent$5,000perexistingclientandhistotalnewclientswas:0!Thiswasaveryexpensivemarketingmistake.

WhenIaskedhimhowheinvitedthem,hesaidhesentthemoneletteronhiscorporatestationery!Nowondertheydidn’trespond—theyprobablypitchedtheletterbeforeopeningit.Mostofhisattendeesprobablywouldhavecome,iftheyhadknownaboutit!WhatcouldwelearnfromGeorge’sexperience?

Solution:

■ Takethetimetocreateamini-marketingplanforyourevent.

■ Thinkintermsoftakingayeartomarketthiskindofevent.Itmightincludeasmanyas18differentmessagesortouchestogettherightkindofturnout.Smallerorlessexpensiveevents,mighttake6monthsandadozenormore“touches”topromotethemtoyourclientsandprospects.

■ Amini-marketingplanforsuchaneventmightlooklikethis:

•12mentionsinthemonthlynewsletters,includingphotosfromthelastevent.

•Averbalmentionduringyourannualreview:“NowbesuretosavetheTuesdaybeforeThanksgiving—wearehostingacelebrityfashionshowandIwanttomakesureyouandafriendcancome.”

•Avoicemail2monthsinadvance,askingtheclientto“holdthedate”.

•Awrittenpartyinvitation—thinkofonethatisasniceasaweddinginvitation,sentabout4weeksinadvance.

•Anothercallfromstafftogetaheadcount,about3weeksbeforetheevent.

•Ane-mailaboutaweekinadvancetosendthemdirectionstotheevent.

•Aphonecallthenightbeforetoremindthemoftheevent.

2. The advisor doesn’t train their staff

(and spouse) to work the event.

Lastsummerwedidagapanalysisandbusinessplan(aSWOOP®)foranadvisor,Steve,whobuilthisentire,multi-milliondollarpracticeoutofhostingdinnerseminarsforprospects.Hewaseasilyspending$500percouple.Sotherewasalotofmoneyandhistimeonthelineforthesetoworkaswellaspossible.

Steve,broughthispara-planner,Jim,andhisadministrativeassistant,KC,tohelphimmanagetheevent.Jimshowsupatthisnicerestaurant,belliesuptothebar,bringsoutanovelandthenspendstherestoftheeveningdrinkinginthebackoftheroom,thesameroomwheretheguestswerehavingdinner.

IwassooutragedwhenIheardthisstory,thatItoldSteve,IwouldhavefiredJimonthespot.Inretrospect,theproblemwasmorewithSteve,theadvisor,thanwithJim.

Steveshouldhavetrainedhisstaffwhattodoattheseevents.Hereiswhatstaffandspousesneedtoknowaboutworkinganevent:

■ First,thisisnotaparty.Weareworkinginanicelocation,butwearestillworking.


■ Second,staff’sjobistopressthefleshandtouchbasewithasmanypeopleaspossible.Youwantclientsandprospectstofeellovedupandlikethisisanexclusiveparty—notabusinessmeeting.

■ Third,staffdoesnotdrinkattheseevents.Thisisnotaparty(rulenumber1).Staffstartsdrinkinganditnotonlycostsyoumoney,buttheygetsloppyintheirconversationsandsaythingsthatarenotgoodforyouorforbusiness.

■ Fourth,thisisagreattimeforyoutocheerleadyourstaffandforthemtocheerleadyou.Anytimetheycansay:YouwillloveworkingwithKatherine,sheisoneofthetopadvisorsinthecountry,ithelpsmaketheclosealittleeasier.

3. Advisors did not plan ahead and use name tags.

Thereasonyouwantnametagsforlargereventsissimple:eventhebestofadvisorsmayhaveamemoryglitchwhenitcomestoalotofclientsallatonce.Theyarealsogoodforyourclients,astheyinterfacewitheachother.Ithelpsstaffandclientsrememberotherclient’snames.

4. Advisors don’t set aside time to follow up with their new prospects immediately after the event.

Oneofourclients,alargefinancialplanningfirmof12advisors,hadamajorgolfingeventforclientsandprospects.Witha

hundredclientsandguests,golfing,lessonswithaproandlunch,itprobablyranthemover$15,000.Thedayaftertheevent,alltheadvisorswerebacktoworkasnormal.Noneofthemfollowedupwiththeirnewprospects!Theyjustblewthrough$15,000!Theyhadmanyfullywarmedupprospectsandtheyletthemfallthroughthecracks.Whatawaste.

Hereiswhattheyshouldhavedone:theyshouldhavesetasideanentireday,foreachadvisor,thedayafterthisevent.Thedaywouldhavebeenspentbyeachadvisorfollowingupwiththeprospectsattheevent.Inotherwords:theyshouldbedialingfordollarswhiletheprospectsarehot,andfeelingobligatedthatyouspentalotofmoneyonthemforafundayofgolfing.

HereisthescriptthatIwoulduse:

“Hi Bob, this is Katherine Vessenes — I am following up after meeting you at golf yesterday. Did you have a good time? (let them talk). What did you think about the teaching pro? (let them talk some more). I am glad Alan Martin brought you. We have worked with him a long time and he thought I would enjoy getting to know you. Do you have some time next week? I would like to get together for coffee and get to hear about your business. Will Tuesday or Thursday work better for you?”

Thepurposeofthenextmeetingisanoff-sitemeeting,justforcoffee,tohearmoreabouttheprospect.Attheendofthecoffee,youinvitethemtoyouroffice,tohearmoreaboutyouandwhatyoudo.

Afterspendingmostofthecoffeemeetingtalkingaboutthemselves,mostpeoplewillfeelobligatedtoreturnthefavorandgettoknowyou,too.

5. The advisor doesn’t close for the next meeting.

Manyadvisorsareholdingeducationalevents,andgivingtheirclientsandprospectssomegreatinformation.Unfortunately,themostimportantpartofthismeetingisto“close”forhavingtheattendeesmeetyouinyouroffice.Ifyoudon’tdothiswell,youwillspendalotoftimeandmoneyandnotgetagoodreturnonyourinvestment.

Longago,Ifoundtheevaluationformasthebestwaytogetpeopletorespondtomeetingwithmeaftertheevent.

HereisthescriptIuse:“I am passing out an evaluation form. Your comments here are very helpful to me, and help me do a better job at my next presentation. At the bottom you will see there is a place to check for more information, to set up a meeting, or “no thanks!”. Some of you are thinking this was a great free dinner, but I am not interested in your service. That’s fine — we won’t bother you.

However,mostofyoucoulduseasecondopiniononyourfinances.Sowewillsetatimetomeetandgettoknowyoubetterandansweryourquestions.Thisisagoodtimetofindoutifweareagoodfitforyouandyouareagoodfitforus.Thereisnochargeorobligationforthismeeting.”

Ihopethese5suggestionscanhelpyouleverageyournextevent.Andthegoodnews:theselittlenuancesdon’tcostyouanymoremoney,buttheycanhelpyougetabetterreturnonyourmarketingdollars.

Katherine Vessenes,JD,CFP®,RFC,presidentofVestmentAdvisors,speaksnationallytothousandsofadvisorseveryyear,givingthemabumpertobumpersystemtobreakdownbarriersandbuilduptheirbusiness.

ThecreatoroftheNO-SellSale(R),sheisconsideredthecountry’sleadingconsultantonbuildingamultimillion-dollarbusiness(Dearborn)andthecountry’sbestknownauthorityonthelegalandethicalissuesoffinancialadvisors(Bloomberg).




and expect this. The prospect wants you to guide, counsel, inform, explain, advise, suggest, and recommend. But if a prospect thinks you are only pushing some product or just trying to make another sale then you are not going to succeed with that prospect.

WaltonW.Rogers,2009MDRTPresidenttoldtheRegister,“Mehdikeepseverythingsimple,straightforward,anddirect.Heisalwaysquickandto-the-pointwithhisclientsandwithhis‘students’.”His‘students’arefinancialprofessionalsaroundtheworld.YoucanuseMehdi’sfast-trackmethodsandraiseyourproductiontoMDRTstandardsorbeyond.ManytopproducersaroundtheworldresultedbystudyingandthenusingMehdi’smethods.Hismethodsareuniversallyaccepted.Thissaleslegendisespeciallyappreciatedforhisgeneroussharingoftheknowledgeandskillthathasresultedfromhisrenowned60-plusyearsofexperience.HebeganhiscareerasadebitagentintheoftendangerousandinfamousNewYorkslumareaknownasHell’sKitchen.

AftercontinuousextensiveinterviewswithMehdi Fakharzadeh,theIARFCPressdocumentedover200provenmethodsthatMehdiuseseffectivelyduringtoday’stougheconomictimeswheremostallmarketsaredepressed.Heexplainshowyoucanalsousehismethodstoadvanceyourpractice,servemoreclients,andimproveyoursales.ThefollowingbriefcontentissummarizedfromtheIARFCbookMehdi’sFast-Track Sales WorkbooknowavailabletoIARFCmembersatadiscountedprice.(SeeorderingdetailsifyouwouldliketoobtainanduseMehdi’spowerfulmethods).Mehdiexplainshowtocustomizeeachofthesesotheywillallbemosteffectiveforyou.

Money In Your Bank Account

Don’t overlook the importance of product knowledge. I have made, and continue to make, many sales simply because I have product benefit knowledge. These sales were ‘given to me.’ I did not have to work

hard for these sales. Often little work was involved. Some people, when they agree to see you, are already interested and they simply want accurate and complete product knowledge. Can you acquire and maintain accurate and complete product knowledge that is always up-to-date? This becomes a part of your specialty knowledge. This helps make you valuable to your clients and prospects. You also need to know the key facts about products that you do not sell. Never attempt to fake product knowledge. Don’t try to get-by with limited product knowledge. If you are not the expert then who is? I have known many sales people who faked product knowledge or had only limited product knowledge. Every top producer I have known always had complete product knowledge.

Phil Calandra,RFC®Co-founderandCEOofCalandraFinancialGroup,LLCinAtlanta,Georgia.Philisa6yearMDRTmember,with4TopoftheTableand1CourtoftheTablequalifications.HehasauthorednumerousarticlesandWhitePaperspublishedthroughoutthefinancialpress.Philandhiswife/partnerJenniferCalandrahostFinancialStraightTalkonWCFO1160AMinAtlanta.

Contact: 678 218 5925phil@calandrafinancialgroup.comwww.calandrafinancialgroup.com

Eighty-nineyearoldMehdi Fakharzadeh, RFC®,isabelovedand“very-veryactive”MDRTandIARFChero.Plus,heisamultiaward-winningfinancialservicesleader!Hewalkstohisofficedaily,drivesinbig-citytraffic,exercisesregularly,andtravelsinternationallyteachingothershowtousehismethodsthathavemademanymillions.“MisterMehdi”isfamousforbeingoneoftheworld’smostsuccessfulfinancialprofessionalsforover30consecutiveyears.

Afterthedeathofhisclosefriend,Ben Feldman,whowasformerlytheworld’sgreatestlivinginsurancesalesproducer,“MisterMehdi”repositionedhimselffrominsuranceagenttofinancialplannerandadvancedtobecometherecognizedworld-widesaleschampion.

AccordingtothePacific-RimSpeakersAssociation,“ThesalesmasterMehdiFakharzadehisalsothereigning‘mostbookedfinancialspeaker’worldwide,andhasrepeatedlyspokenin47countries.”

Mehdiisequallybeloved,trusted,andwelcomedbyhisclients.“MisterMehdi”haslong-termrelationshipswithhisclients.Formanyofhisclientsheisconsideredtobepartofthefamily.Heevenstillservesclientsheacquiredduringhisfirstyearasaninsuranceagent.

Mehdisays,

My clients are intelligent people. Seek intelligent people for your prospects. Always be on the lookout for intelligent people because they care, reason, and think. Not one intelligent person on this earth appreciates sales pressure, fear tactics, or incomplete disclosure. They want to trust you. They feel entitled to reasonable time to be sufficiently informed and to consider the facts and their options before making a decision. They want to be properly informed by a qualified person.

It is OK if you take control and move the process along but you can only do this if you are trusted. Many prospects appreciate this

Mehdi’s Methodsfor Record SalesDon’t Forget Your Product Knowledge

Phil Calandra, RFC®


Bill Nelson, RFC®

Why have some advisors increased their production of Variable Universal Life by as much as ten-fold?

Would you benefit from learning new techniques to gather a steady flow of new affluent clients?

Could you use a few extra dollars of personal income (say $100,000) next year?

Enroll in Bill Nelson’s LIFE School and find out how he sold a billion dollars of permanent life insurance — in 15 months!

937 506 [email protected]

Weareattractedtoreal,authenticmarketingandportrayalsofwhatyoudoandwhoyouare.So,takeouttheperfect-nesstoyourmarketingandreplaceitwithyou.Createablogwithyourwords,userealpictures,createavideo.Showthemtherealyou.Youmaybesurprisedathowmuchmoreattractiveyouare—withoutanyofthefluff!

Maribeth Kuzmeski,MBA,RFC®isthePresidentoftheconsultingfirm,RedZoneMarketing,foundedin1994.Maribethandherfirmpersonallyconsultsomeofthenation’stopproducingagentsandadvisors.Shehaswritten5booksincludingthenewbestseller,…And The Clients Went Wild!(Wiley,2010)andThe Connectors(Wiley,2009).ShehasspokenattheMillionDollarRoundTableandhascreatedmanymarketinginitiativesforbrokerdealers,mutualfundandinsurancecompanies.MaribethisalsoamediacontributorappearingonFox,ABCNews,NBC,The Wall Street Journal,The New York Times,EntrepreneurandForbes.Contact: 847 367 [email protected]

I’vebeentryingforyearstodeterminewhysomemarketing,ingeneral,issimplynoteffective.Infact,sometimesmarketinghastheexactoppositeeffectthanwhatisdesired.Caseinpoint—thecompanybrochure.Somefirmsworkforhours,days,andmonthstocreatetheperfectbrochurewiththebestwritingandlayout.Yetlatertheydiscoverthattheycouldhaveinsertedaswearwordinsidewithoutasinglepersonnoticing(Idon’tactuallyrecommendtryingsuchathingthough).Whydon’ttheybotherreadingthispiecethatyoupouredyourcreativeblood,sweat,andtearsinto?

Theobjectiveofmostmarketingcollateralistopresentadistinctivecompanyfilledwithuniquebenefitsthatacustomerneedsandwants.Ultimately,thegoalistohaveabrochuresocompellinginnaturethatpeoplereadthroughitandthendecidetheyHAVEtodobusinesswiththefirm!Buttherealityis,peoplearen’treadingmostbrochures(orothermarketingmaterials,forthatmatter)becausetheyknowexactlywhyitisbeingpresentedtothem.To“sell”them.

Abrochureorevenyourwebsite,filledwithperfectlycreatedmarketingphrasesandpicturesofmodelsandoceanwaveshittingtheshore,certainlyareaestheticallypleasing.Butinordertocompelpeopletoreadyourbrochureandfindoutmoreaboutyourfirm,yourmessagemustsoundandbeauthentic.Thatistrulyattractive.Marketingtodayshouldbe…

…asauthenticasyouare.Thewordsyouuseshouldbethewordsyourclientsandprospectswouldusetodescribetheirchallenges,solutionsandbenefits.Notperfectwordsandperfectpictures.Peoplewanttoworkwithsomeonetheyarecomfortablewith,someonetheycantrust.Insales,lessofthepitchandmoreoftheinformalconversationalapproachhasproventobemoresuccessful.Andthat’swhatweneedmoreoftoday.

Why Nobody Reads Your Brochure

(or any other marketing materials)

Maribeth Kuzmeski, MBA, RFC®

CAREER OPPORTUNITYSearching for Financial Planning Managing Partner(s) and Personal Producer(s)

Candidate(s)shouldpossessRFC®,CFP®,ChFCorCPAcredentials,haveLife&HealthInsurance,Securities7,63,65,24,RealEstateorMortgageBrokerageLicenses,somemanagementexperience,andanetworkofclients/contactsintheLongIslandbusinesscommunity.OpportunityalsoavailableinTucson,AZ.

Contact us today:[email protected] | (631) 979-6161 x 102 | www.designcapital.com

LET OUR STRENGTHS BE YOUR ADVANTAGE.

Compete, Don’t Compare

However,itiseasytobecomedistractedbytitlesanddesignations.Yoursaleisfirsttrustandcapacity.Makethissale,andon-goingsuccessisverylikelyinfactitisassured!

What are your Goals?

Manypersonshavethemistakennotionthatsuccessistheachievementofaparticularincomeornetworth.Thoseareonlytrackingtools,measuringdevices.

Eachofusmeasuressuccessdifferently.However,wecanallagreethatsuccesstodayisn’tmeasuredbywhatwehaveearned.It’smeasuredbywhatweare,comparedtowhatwecouldbe.Inotherwords,measure your individual success by comparing it to your real potential — your best self.

Forexampleifyourgoalistoacquiretwonewhigh,levelclientseverymonth,thenyourpracticewillgrowexponentially.Sure,youwillacquiresomesmallerclients,andsomeofthemmightlaterturnouttobecomemoresubstantialcustomers,withyourhelp.Butyoumustmasterthose“salesskills”inpresentingyourselfeffectively.

Beforeyournextsalescallremindyourselfofwhoyouare—andbecauseofyourcarefulpreparationandprofessionalpresentation,youwillpresentyourself—atyourbest!

KinderBrothersInternationalteachessalesandmanagementprofessionalshowtoexperiencelastingsuccess.BothJackandGarry KinderaremembersoftheIARFCandauthorsofbooksandcoursesonfinancialservices.

Theirassociate,Bill Moore,isadirectoroftheIARFCandhedeliverstheProfessionalPatternscourseworldwideandisdevelopingtheRegisteredFinancialManagerworkshop.


Thegreatestfreestyleswimmerofalltime,JanetEvans,owns45NationalTitles,fourOlympicgoldmedalsandthreeworldrecords.JustbeforetheraceforOlympicqualificationontheAtlantaTeamhercoach,MarkSchubert,pulledheraside.CoachSchubertsaidtoher,“Don’t forget who you are.”

AttheU.S.OlympicTrials,Evanswassurroundedbyyoungerandperhapshungrierswimmers.Oneoftheseyoungcompetitorsevensaidshethoughtthe24-year-oldEvanswasscaredoftheothercompetition.SoasEvanswalkedtothestartingblocksforthe400-meterfreestyle,hercoachtookjustamomenttoremindhisswimmerofhercredentials.Don’tforgetwhoyouare—compete,butdon’tcompare!

JanetEvanswentoutandmadeherthirdOlympicteam,winningthe400-meterfreestyleinsplendidfashion.Janet Evans, with Coach Schubert’s help, learned that winning means excelling at being you.

TheformerClevelandBrowns’All-Pro,BillGlass,oftensaystohisaudiences,“Beyourself,butlearntobeyourbest self.Don’tusebeingyourself(oryourfamilybackground,educationorpriorjobexperience)asanexcuseforlazinessormediocrity.Bewhatyouought to be, what you can be.Stretchtowardwhatyouarecreatedtobeandinthestretching,you’recertaintobecomeabetterandmoreeffectiveperson.”

We Are All Sales Persons!

Regardlessofwhetheryoucallyourselfan“investmentadvisor”a“financialplanner”ora“financialconsultant”—rememberthatyoumust acquire new clients.Youmustconvincesomeonethatyouhavethecapacityandconcerntohelpguidetheminfinancialdecisions.Thisrequiresthatyoumustfirstacquirethemasaclient.Thisisasale!Itisjustthatyouareselling yourselffirst—notaproduct.Productscomeafterthefactfinding,analysisandreportpreparation.Noclient,noproductsales!

Whenyouhaveacquiredtheclient,thenalltheproductallplacementwillgotoyou.Everyoneinfinancialservicesknowsthat.

Dr. William L. Moore, Sr., CLU, ChFC, RFC®


acancer.Forinstance,chronicallyallowingtheUStolivetensoftrillionsofdollarsbeyonditsmeans(nationaldebtcurrentlyexceeds$14trillion)allowsforadisproportionatedemandtoconsumeadisproportionateportionoftheworld’sresourcesandproductioncapacity.Theresultisanincreaseinpriceseverywhere.

Becausedemandisfueledwithdebtandisthereforelessprofitable,manufacturershaverespondedbyloweringlivingstandardsthroughlowerrealwages,lessbenefits,andlesssatisfaction.Thisnewbarebonesapproachhasledtohigherstructuralunemployment.Fewerjobs,higherinflation,andoppressivegovernmentalwealthconfiscationhavepromptedcitizenstotaketothestreetstodemandregimechanges.

Whilegovernmentsmaymakeconcessionsandindividualsmayrotatethroughthepositionsofleadership,thebankinghierarchythatcausedtheeconomiccalamityinthefirstplacewillnotchange.Itwillstandandfightthroughitscentralbankoppressionanditwillusewhateverforceisnecessarytomaintaincontrol.Nothingwillchangeandthebanksthatbenefitfromarisingstockmarketwillflourish.

Central Banks Rule

TheU.S.stockmarketiscompletelyrunbytheFederalReserve.Thestockindiceshavebeeninrallymode,buttraderscomplainaboutweakvolume.Weakvolumecouldbearesultofhighfrequencytradingeffortsonthepartofhedgefundsandinvestmentbankers.Theystuffthe‘bid’sideofthetradewithvoluminousorderstodrivethepriceofastockhigheronlytocanceltheordersbeforeexecution.Again,thisisdesignedtodrivetheindiceshigher.Don’ttrythisonyourown.Itisillegal.But,bankshaveadifferentsetofrulesandlawsthantherestofus.Besides,itmakesthestockmarketgoup.Don’tworryaboutthelackofvolume.

Bank and Governments are Linked

Centralbanksonlyworkforthebenefitoftheirshillbanksandtheirhostgovernments.Byconfiscatingwealththroughtaxation,legislation,andinflation,thecentralbankhasdrawnalineinthesandinthatitisaconstantthreattothecitizenry.Further,

aslongasgovernmentandbanksthrive,thecentralbankhasnoconcernfortheaveragecitizen.WhenaskedinearlyFebruary,2011atthePressClubwhetherornothefeltsomewhatresponsibleforthecivilunrestthroughouttheworldduetothesuddenaccelerationofinflation,BenBernankerespondedthathedidnot.HepointedoutthatwhileEgyptwasinthe13thdayofrioting,theypurchasedtheirgoodsinEgyptianPoundsandnotUSdollars.

Theextraordinaryarrogancetowards,anduttercontemptfor,theaveragecitizenwasclear.Hehadhis.Thebankshadtheirs.BankingCEOsthroughouttheworldwereenjoyinglavishbonuses.WallStreetexecutiveswereenjoyingrecordbonuses.Whyonearthwerecitizenssoupsettodemandregimechange?Noworries.Youcanchangetheregimesbutifyoudon’tseverethechokeleashthatcontrolstheregime,therewillbenochange.

Thecentralbank(i.e.FederalReserve)wantstoignorethefactthatcommoditiesallovertheworldarepricedinUSdollars.Specifically,oilisstillpredominantlypricedinUSdollars.InflationarypoliciesfromtheFeddriveuppriceseverywhere.Mr.BernankewentontosaythatinflationincountrieslikeEgyptweremoreofasymptomofemergingmarketdemand.

Asreportedinthearticlepostedathttp://bikyamasr.com/wordpress/?p=12424,theEgyptiangovernmentestimatesthattheaverageEgyptianmakes$60(USequivalent)perweek.Further,theauthorofthearticle,MohamedAbdelSalamcitesreportsthatsay‘thevastmajorityofEgyptiansliveonlessthan$2(US)dollarsperday’.Giventhetruth,itishardtoimaginehowsuchverypoorpeoplecouldexertverymuchactualeconomicdemandtofuelinflation.TheFedisintentionallyengaginginmendaciousprevarication.SinceFedactionsonlyhavepositiveresultsandnevernegativeramifications,thestockindicescangrowtothesky!

Government/Bank Bailouts Continue

Taxpayersarepayingfor‘quantitativeeasing’andeveryotherbankbailouttheFedinitiates.QE2istheFed’sprogramtobuy$600billioninTreasuriesand$300billion

Asinvestors,wehavealotonourplate.TheworldistryingtorecoverfromtheworstrecessionsincetheGreatDepression.Manysovereignstatesareonthevergeoffinancialcollapse.Theworldisawashindebt.Centralbanksareexercisingmoreandmorepower.Andworstofall,ourcableTVbillskeepgoingup!Whatfollowsisabriefsurvivalguideforinvestorsfortheyear2011.

Citizen Unrest

UnrestamongtheCitizensisboilingupandtrustingovernmentiswaning.Hallelujah!SomeofthegeniusesthatwrotethebylawsoftheUS,likeThomasJefferson,toldustonevertrustthegovernment.FromTeaPartyformationsintheUStoriotsinthestreetsofCairo,disenchantmentwithgovernmentisspurringpopulousunrest.Sinceallgovernmentsareverymuchuselessbureaucraticbastionsofineptitude,theyrarelygenerateeconomicsolutionstoanything.Yet,theirgoalistostayinpower.Todoso,theyhavetokeepthepopulousfooled.

Governmentslietostayinpower.Badeconomicconditionsrequiresolutionsthatgovernmentcannotprovide.Therefore,theyappeasetheelectoratewithlegislativeeffortsandlieabouttheresults.Whatwearewitnessinginearly2011istherealizationthatgovernmentismoreoftheproblemthansolution.Thispowerstruggleislikelytodominateournewsforsometimetocome.Governmentswillrespondasgovernmentsalwaysrespond.Theywilltrytothrowsomemoremoneyattheeconomytocalmthemasses.Theyfigurethatnooneunderstandsdebtandfiatmoneyisworthlessanyway.Thestockmarketswillbenefitfromthataction.

Don’t Threaten Banks

Populousunrestwillonlybetoleratedaslongasitdoesn’tthreatenthebanks.Wehaveseenriotousactivitythroughouttheworldspurredoninlargepartfromtheeffectsofinflationrelativetoeconomiccounterbalance.Asdiscussed,bailingoutwesternbankshasaconsequence.Thatconsequenceisinflation.Inaglobaleconomy,inflationdoesnotliveinaconfinedgeographicregion.Onceunleashed,itspreadslike

New Era Survival Guide for Investors



somestatistic,justquitreading.Whatfollowswillbealie.

Forinstance,inFebruaryof2011,thegovernmentreleasedtheJanuaryemploymentdata.Theyclaimthatpayrollsonlyroseby36,000,manufacturinggainswerethebestsince1998atplus49,000(thediscrepancybetweenthetwowassupposedlyduetoadropintheBirth/Deathratio),andunemploymentdroppedfrom9.4%to9%.Theunemploymentratedropwasattributedtolaborforceparticipationdroppingtoa26-yearlow.Logically,onewouldassumethatifmanufacturingtrulyadded49,000newjobs,therewouldhavebeenalotmorepeopleinthelaborforcelookingforthosejobs.

Anothercaseinpointisthecurrentglobalcoldingthatisunderwayinourclimate.Temperaturesinourlocalareahavebeen,andremain,some10to20degreesbelownormal.Snowseemstobeaweeklyeventwhereasinthepast,itwasunseenforyearsatatime.Thegovernmentwantsto‘sell’uson‘globalwarming’sotheycanraisetaxesforcontributorstotheprocess.And,theysaythatperiodsofglobal colding are due to the global warming.

Armedwithabout100yearsofdataonaplanetthatis4.5billionyearsold,thegovernmentisdeterminedtosellthisstory.First,andbythesamegoofy‘warming’logic,whycan’tperiodsofglobalwarmingthereforebeduetotheoverallglobalcolding?Second,itseemstomethateveryperiodinthehistoryoftheEarththatimperiledthesurvivalofplantsandanimalswasduetoaglobalcoldingeventandnotaglobalwarmingevent.Itseemsthatgovernmentsimplytriestoconfuseitscitizenrytothepointwheretheycan’tthinkandtheycan’tdiscernthetruth.ThesereportsalsoblamebadweatherinJanuary.Don’twealwaysexperiencebadweatherinJanuaryintheNorthernHemisphere?Confusingdataisgoodforthestockindices.

Productivity Will Suffer

Productivityhastobesacrificedtobenefittheunproductive.Thus,realeconomicgrowthwillbenegligible.Themostprofitableventuretodayislending.Ifabankwantstobuildanewhigh-risetower,theyhireaconstructioncompanywithashovel.Theconstructioncompanyhastoborrowthemoneyfromthebanktobuytheshovel.ThebankcreatesthemoneyfromtheFedatnocostandchargesinterestontheloan.Theconstructioncompanybuildsthetower

andintheend,thebankownsnewrealestateandtheconstructioncompanyownsashovelandprobablysomedebt.Wouldyouratherhavemoneytolendorashovel?Theshovelproducessomething—theloandoesnot.Thebanknowownsmoremoneyintheirnewtowerthantheconstructioncompanythatownedtheshovelsthatbuiltthetower.Realpowerisinlending.

The No Default Scenario

Nooneisgoingtobeallowedtodefaultontheirsovereigndebt.Thebankshaveissuedcreditdefaultswapstiedtothatdebtanddefaultsaremagnifiedexponentiallyinlossestothebanks.NooneisgoingtopulloutoftheEuropeanUnion.Itwillnotbeallowed.StatesintheUSwillnotdefault.Ifhehasto,Bernankewillbuyupstatedebt.Creditdefaultswapswillbedefendedwitheveryounceofinkthecentralbankshaveintheirprintingpresses.Theswapssupportcreditandstockindicesdependuponcredit.

Pressure for Dividends

BankofAmericaannounceditwantedtoraiseitsstockdividend.Butfirst,ithadtogetapprovaltodosofromtheFederalReserve.TherewasalightbulbburnedoutintheMen’sRoomonthe18thflooroftheirheadquarters.Beforechangingit,theyhadtogetapprovalandapurchaseorderfromtheFederalReserve.Okay,Iambeingfacetiousonthelightbulbthingbutreadthenewscarefully.Wearenowinanerainwhichpubliclyownedcompaniesareactuallysubservienttotheirultimateruler—theFederalReserve.Companies,andparticularlybankingcompanies,cannotconductbusinesswithoutFeddirectionandapproval.

Ihavereadthereisanewfederalregulationimposedabouteverytwohoursofeverydayoftheyear.TheCodeofFederalRegulationisover157,000pagesandgrowingfasterthanthenationaldebt.(Youcanneverread157,000pagers—sinceitincreasesinsizefasterthanyoucanabsorbthebasicdocument.)IsitsurprisingthatthestockmarketisnowalsocompletelycontrolledbytheFed?Asaninvestor,wehavetoanticipatetheFed’splanforourfavoriteindices.MyguessistheFedcankeepthepopulousundercontrolaslongastheindicesrise.So,theindiceswillrise.

Awareness of the Issues

Finally,investorsneedtostayengagedtotheprocess.Thecentralbanksare

inmortgagepaperfromthebigbanks.SomepunditshaveworriedthattheFedcouldgobankruptifallthispapercontinuestolosevalue.Nonsense.WhatistheFedbuyingallthispaperwith?Theansweris‘notmoney’.Theycreatecreditsonthebalancesheetsofthebankssothebankscanboastof‘assets’.Thecreditsarenothingmorethanapromisetoprintmoneyifsomeonedemandsrealaccounting.Themoneyprintingdevalueseverythingthecitizenshaveintheirwalletsandthereforebecomesataxthroughinflation.Thisinflationalsoworkstoinflatethestockindices.

Fluctuations in the Market Continue

Market‘corrections’willbebriefindurationanddamage.TheFedwillkeepthebuysidepressureupwiththeirQE,POMO,andTOMOprograms.Ifbuyersoutnumbersellers,wehavearally.Buyersgetanxiousfromtimetotimeandelecttotakesomeprofitsandsell.Shouldthemarketdropoverthecourseofafewdays,thePPTstandsreadytoassaultthesellerswithpost-3PMbuyingdeluge.Theultimatemessageis‘don’tsell’.Don’tsell,don’tshortsell,anddon’tbuyputoptions.Don’teventhinkaboutit.Theonlywaytoselleconomicrecoveryistorallythestockindexes.Thismayleadtosomeartificialmovementsthattheaverageinvestorwillmiss.Forinstance,theindexesarenow‘calendarized’.Thatmeanstheymaylurchhigherforcertainperiodsofthecalendarwithoutregardtoanyfundamentalreason.Shouldtheindicesendamonthonadiscouragingbearishsentiment,thenextmonthmaybringforthasharpriseonthefirstdayofthemonthtoturnthemomentum.Shouldaquarterexperienceanegativetoneattheend,thePPTislikelytospiketheindiceshigherinthelastweekofaquartertoensurethatstockownersreceiveacomfortablequarter-endstatement.

Thesameistruefortheyear-end.Iftheoppositeweretrueandastrongrallyleadstothelastweekinamonthoraquarterorayear,theFedwilllikelyallowforsomesellinginthelastweekoftheperiod.Asformarketnews,nobadnewsisasbadasitcouldhavebeenandallgoodnewsisanupsidesurprise.Allofthisisdesignedtosteertheindiceshigher.Weknowthatthetop10%ofincomeearnersintheUSown90%ofthestocks.Therulingeliteseemdeterminedtoprotecttheirsupporters.

Detecting Misinformation

Whenyoureadanarticleandyouseetheword‘government’inrelationto


obviouslytryingtoenrichthewealthyelitenotthroughsweatandtollofproductionbutbystealthandobfuscationnecessaryforwealthconfiscationandconcentration.Ourchargeistoknowthetruthandactaccordinglyforourownsurvival.Whatdothewealthyown?Stocksandrealestate.Whatwillthecentralbanksinflate?Stocksandrealestate.

Forthosewhoarestillskepticalbyvirtueoffundamentals,considerthetoolofwealthconfiscation—derivatives.Whopromotesandusesthem?Thecentralbanks.Whoprofitsfromthem?Thebanksthatissuethem?Aretheypaidforwithrealmoney?Notthebanks’money,anyway.Aretheygroundedinfundamentalsofanykind?No,theyareultimatelycreditdriven.Whocontrolsthecredit?Centralbanks.Whenwillthestockrallyreallyend?Theansweriswhenallwealthisfinallyconfiscated.Untilthen,therestofuscantakeadvantageofthescambyowningthesamethingstherichpeopleown.Itisimperativeforoursurvival.

Barry M. Ferguson,RFC®isthePresidentandfounderofBMFInvestments,Inc.anindependentSECregisteredInvestmentAdvisoryfee-basedmoneymanagementfirmlocatedinCharlotte,NorthCarolina.Barryhasmorethanadecade’sworthofexperienceinthefinancialservicesindustry.HehasadiversebackgroundrangingfromfinancialsoftwareconsultanttoregisteredrepresentativeofinvestmentproductstoPresidentofanInvestmentAdvisoryfirm.Hisstrongtechnologybackgroundhasbeenbeneficialintoday’s‘informationage’market.


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Thefinalstepistoanalyzewhereyouaretoday.ThisisknownasaSWOTanalysis(Strengths,Weaknesses,OpportunitiesandThreats).Bydefiningyourbusiness,settingobjectivesandcompletingaSWOTanalysis,youcannowdoanissuesanalysistoidentifytheissuesthatmustbeaddressedtoalignobjectives,systemsandcapabilitieswiththeopportunitiesandchallengestheenvironmentprovides.

C. Operational Strategies—Theoperationalstrategiesdescribewhatyouaregoingtodotorealizeyourobjectiveswiththeappropriatesystemsandcapabilitiestotakeadvantageofmarketopportunitiesandovercomeanychallengesyouforesee.Thefirststepistoprepareyourmarketing plan.Theplandetailswhatmarketingactivitiesyouwillinitiatetobuildyourbrandandcreateauniqueidentityinyourchosenmarket(s).

Thenextstepistoprepareyoursales plan.Thesalesplanoutlineswhoyouwillsellto,whatyouwillsellthemandwhenyouwillsellthem.

Theservice plandescribestheserviceactivitiesyouwillengageintogetandkeepclients.Yourserviceplanalsohighlightsyourvalue proposition.

Onceyouhavecompletedyourmarketing,salesandserviceplans,youcandeterminehowtointegratetheseactivitiesandassesstheresourcesyouwillneedtofulfilleachaspectofyourbusinessplan.Atthispoint,youareinapositiontoprepareyourresource plan.Thisplanlooksatthesystemsandcapabilitiesyouwillneedinordertoreachyourobjectives.

Thefinalstepinthestrategysegmentofyourbusinessplanistoidentify major tasks and potential roadblocks.Inanygiventimeframe,therewillbeasmallnumberoftasksthatarecriticaltoyourbusinesssuccess.Failuretofocusonthesemajortaskscanleadtobusinessfailure.Finally,theidentificationofpotentialchallengescanhelpyoutoanticipatehowyouwilldealwiththesepotentialroadblocks.

D. Financial Management—Thelastpartofthebusinessplandealswiththefinancialaspectsofyourbusiness.Tobesuccessfulasanentrepreneur,youmusttakethetimetofullycomprehendthebusinessfinancials,bothhistoricaland

pro-forma.Thebusinessplanwillincludehistoricalfinancialinformationaboutthebusiness,andapro-formaanalysistoshowtheanticipatedrevenue,expensesandprofitgoingforward.

Itisimportanttorememberthatyourbusinessplanisasnapshotofamovingpicture.Forentrepreneurs,itisimportanttoviewbusinessplanningasaniterativeprocess.Sincechangeistheonlyconstant,youneedtoscheduletimeonanongoingbasistoreviewandupdateyourbusinessplan.Inotherwords,havingabusinessplanisonlyoneaspectofdevelopingandimplementingstrategy.

Arecentstudyof1,000topinvestmentadvisoryfirmsintheUSfoundthattheexecutivesleadingthefirmsinvest2½to3hours every weekfocusedonthestrategyforgrowingtheirpracticeorbusiness.Yet,inourwork,wefindmostadvisorsspendverylittletimeonstrategyeachweekormonth.Itislittlewonderthatmanyadvisorsfeeltheeffectoftheenvironment,ratherthanmastersoftheirowndestiny.

Norm Trainor,NQA,CLU,RFC®isthePresidentandCEOofTheCovenantGroup,referredbymanyas“TheBusinessBuilder.”Histeamhasamassedanddiagnosedresearchontopperformingprofessionals,distillingthatresearchintoThe 8 Best Practices & Business Builderconcepts.

Normisaninternationalspeaker;theauthorofthebest-sellingbooks,The 8 Best Practices of High-Performing Salespeople & The Entrepreneurial Journey;andhaswrittenarticlesforvariousleadingpublicationsinNorthAmericaandinternationally.


Recently,Imetwithaverysuccessfulinvestmentadvisorwhotoldmethathisstrategyforgrowinghisbusinesswastogetreferralsfromsatisfiedclientsandcentersofinfluence.Whilethatisaneffectivemethodortacticforgrowinganadvisorypractice,itisnotastrategy.Wedefinestrategyasthealignmentofthreeelements:

■Theoutputsorobjectivesyouwanttoachieve.

■Thecapabilitiesandresourcesyouhaveavailabletorealizeyourobjectives.

■Theopportunitiesandchallengestheenvironmentprovides.

Itisimportanttoaddresseachoftheseelementsasyoudevelopyourstrategyforyourbusiness.The articulation of your strategy is your business plan.Theformatweuseforbusinessplanningisdesignedtoaddresseachofthethreeessentialelementsofstrategicplanning.

Your Business Plan Consists of Four Interrelated Elements

A. Defining Your Business—Inthispartofthebusinessplan,youdescribeyourVision,Mission,ValuesandBusinessOpportunity.Yourbusinessplanbeginswithaoneortwoparagraphdescriptionofyourvision statement.Itshouldclearlyarticulateyourpictureofthebusinessandthedirectioninwhichyouaretakingit.Thevisionstatementanswersthequestion,“Wherearewegoing?”Themission statementdescribesyourpurposeandanswersthequestion,“Whyarewehere?”Yourvalue statementanswersthequestion,“Whatisimportanttous?”Valuesarethethingsorconditionsyouconsistentlywanttoexpress.Thefinalelementindefiningyourbusinessisthebusiness opportunity.Thissegmentofyourbusinessplanaddressesfourquestions:

■Howdoyoumakeyourmoney? ■Howdoyouspendyourtime? ■Whodoyousellto? ■Whatdoyousellthem?

B. Setting Objectives—Anobjectiveisaspecific,measurableresult,withinastatedtimeframe.Typically,theobjectivesincluderevenueandprofitability.Thestartingpointinsettingobjectivesistoidentifyyourfive-yearkeyobjectives.Then,youworkbacktoidentifyyourone-yearobjectives.

What Is Strategy?

Norm Trainor, NQA, CLU, RFC®


unexpectedevents.However,everythingchangedonThanksgivingDayof2008whenIlostacloselovedoneandhadtopersonallyexperiencetheentire“reallife”funeralplanningprocess.

Very Few Families Know “What to Do Next”

Losingacloselovedoneis,byfar,onethemostdifficultexperiencesanyonecanfaceintheirlifetime.Irememberfeelingincrediblyhelplessaswewentthroughthisexperience.Ikeptsayingtomyself,“asafinancialadvisor,Ishouldknowbetter…Ishouldhavetheanswerstothemanyquestionsmyfamilyisasking”.ButIdidn’t.

WhenIbegantoseetheenormityofthesituation,howdifficultitis,andhowlittleIreallyknew…IrealizedhowsaditwasthatIhadneverbeentrainedoreducatedonhowtoplanandpreparemyclientsforthisparticularsituation,muchlessmyownfamily.Andquitefrankly,Iamalmostashamedtoadmitthis.

Icanrememberlookingatmyfamily,andwithoutsayingonesingleword,itwasclearlyobviousthatweallhadtheexactsamequestions.Andsadly,thesearethequestionsthatmostfamiliesareforcedtodealwitheverydaywhentheylosealovedone…suchas:

1.Whatdowedonow? 2.Whocanweturntoforcrediblehelp

andadvice? 3.Howdowegetstarted?

Looking Back… What Could I Have Done Differently?

AsIlookback,itwastrulyamazinghowstronglyourfamilycametogetherandaccomplishedsomanythingsinsuchashortperiodoftime…mostofwhichwehadnoclueevenhowtobegin.Andyet,atthesametime,Ialsorememberfeelingfrustratedbecausenotonlydidwelacktheknowledgetodealwithmanyofthesechallenges,butwealsohadnoideawheretoturntoforthehelpandanswersweneeded.

Ican’tevenbegintotellyouallofthefuneralplanningchallengesandemotionalupsanddownsafamilygoesthroughastheyworkthroughthingslikeplanningthememorialservicedetails,writinganobituary,decidingwhotoinviteandnotify,coordinatingallofthedetailswiththeChurch,choosingwhowillgiveaeulogy,pickingoutfuneralflowers(orsettingupdonations),choosingamongthemanydifferentcremationurns.Truthfully,Irememberthereweresomanytimeswhenitjustfelttoooverwhelmingtohandle.

ThesadtruthisthatthefinancialplanningindustrylargelyoverlooksthefactthatcreatinganEndofLifePlanneeds to beastandardandroutinepartofacomprehensivefinancialplan.

Toprovemypoint,asafinancialadvisorfornearly25years,Ihaveneverbeentrainedoreducatedontwoofthemostemotionallyandfinanciallychallengingsituationsaclientcanpossiblyfaceintheirlifetime:

1.Helpingthemtopreparetheirendoflifeplansandpreferences…inadvance…andbeforeitis“toolate”.

2.Helpingthemunderstandandmanagethefuneralplanningprocessafteralovedonehaspassed.

The Missing Piece of Financial Planning — Your End of Life Plan!

TherealityisthataclientshouldlogicallyturntotheirFinancialAdvisorforanythingthathastodowithnotonlytheirmoney,butalsothebestinterestsoftheirfamily.Thisinvolvesadetailedreviewandanalysisofthingslikeinsurance,investments,estateplanning,choosingWillsorLivingTrusts,minimizingoreliminatingtaxes,collegeplanning,choosingtheoptimalmortgage,minimizingdebt,maximizingcashflow,andsoon.

Thekeypointhereisthatasafinancialadvisor,Ihavealwaysbelievedthatthemostimportantroleweplayistohelpprotectourfamiliesagainstunexpectedeventsthatcancausemajorfinancialoremotionalchallenges…andpossiblyirreparabledamagesorlosses.

Typically,mostfinancialadvisorsaccomplishthisprotectionbyimplementingtraditionalfinancialproductsandstrategiessuchaslifeinsurance,WillsorLivingTrusts,disabilityinsurance,long-termcarehealthinsurance,annuities,carandhomeinsurance,tonameafew.Theserecommendationscanvary,sinceofcourse,eachfamily’ssituationisusuallyuniqueanddifferent.

Tobehonest,after25yearsinthisbusinessItrulyconsideredmyselftobeextremelywell-versedinhowtobestprotectmyclients(aswellasmyownfamily)against

Who REALLY Needs an End of Life Plan?See Exactly Why This Makes PERFECT Sense… From the Heart

love,andIcannothelpbutwonder;“Is she in the right place? Is she were she would have wanted to be?”ThesadtruthisIwillneverknowwhere“therightplace”is,butIdoknowthatitinspiresmeeachandeverydaytoworkhardtomakeadifferenceforotherfamilies.

Again,pleaseunderstandthatIknownobodylikestotalkaboutdeath,dying,orendoflifeplanning.However,wehavetofaceandacceptthefactthatnotonlyarewegoingtodiesomeday,butitcouldactuallyhappenmuchsoonerthananyonecouldeverimagine.

SomysincerehopeisthatIcanencourageanyonewhoisreadingthis…everyFinancialAdvisor,everygrandparent,everyfatherormother,everysonordaughter,everyspouse,everygrandchild,andeverylovedoneorfriend…tosetasidethetime…MAKETHETIME…andhavethisdiscussionwithyourfamily.Andsincenobodyknowswhatthefutureholds,makethishappensoonerversuslater.

Please NEVER Forget the Following:

ThereisnosuchthingaspreparingyourEndofLifePlan“toosoon”.Onthecontrary,theworstthingyoucandoisallowanyclientorfamilymembertoaccepttheattitudeof“I don’t need to do this now...or that won’t happen to me… or I can do this later”.Thereasonwhyistheabsolutewrongtimetomaketheseplansiswhenitistoolate.

ThreeofthebestquotesIuseateveryopportunitypossibleare:

1.“By failing to plan… you are planning to fail.”

2.“The difference between failure and success is largely determined by the amount of planning and preparation for the future.”

3.“Experience is the name we give our mistakes… assuming we learn from them.”

You Can’t Go Wrong:

Bycreatinganendoflifeplaninadvance,thereareveryfewthingsthatcanprovidemoremeaningfulbenefitsthanfromthisselflessactoflove.Twoofthemanybenefitsare:

1.Peace of mind—Youandyourclientscansleepbetteratnightknowingthatyouhavecompletedthisall-importantplan,andthattheirfamilyandlovedoneswillbeforever

grateful.Thisisthetruedefinitionofawin-winsituation.

2.Full control over how you are to be remembered—Knowingthiswillbeatimeofgreatlossforsomanylovedones,youandyourclientswillberememberedforshowinghowmuchyoucaredbysacrificingthetimetodosomethingveryspecial…andeasingtheburdenwhenitwasneededthemost.

Aftergoingthroughsomethinglikethis,youbegintorealizewhytheysaythatsinceeverydaywehaveistrulyagift,that’sexactlywhytheycallit“the present”.Soplease,takeadvantageof“your present”andbuildaplanthatallowsyourlovedonestocelebrateyourlife,allowsyoutoshowhowmuchyoucare,andallowseveryonetoenjoyallofthewonderfulmemoriestheywereabletosharewithyou.

GET STARTED TODAY — Your First Step is Easy!

Christopher P. Hill,RFC®,isthePresidentandCEOofaWealthManagementfirm,withofficeslocatedinRestonandWoodstock,Virginia.Chrisstartedhiscareerinfinancialservicesin1986asacollegeinternassistingaveteranstockbroker.Hethenestablishedasalesofficeforanationalwealthmanagementfirm,whereheassistedinportfoliomanagementandwasalsoVicePresidentofMarketingandSales.In2001,Mr.Hillformedhisowncompanyandhehasbuiltanexperiencedteamspecializinginretirement,tax,andlegacyplanning.SecuritiesofferedthroughTheInvestmentCenter,Inc..MemberFINRA/SIPC

Contact: 703 917 [email protected] www.funeralresources.com

So May I PLEASE Offer Some Valuable Advice?

Soafteronlyscratchingthesurface,Ithinksomanypeopleneedtohearthesefacts:

1.Thereisnothingmoredifficultthanthelossofalovedone

2.Planningafuneralandmemorialservicecanbeanoverwhelmingprocess

3.Thelargemajorityoffamiliesareuneducatedonthemanydetailsinvolvedinplanningafuneral

4.VERYfewfamilieslosealovedonewhotookthetimetoleavebehindtheirfinalplansandpreferences…orendoflifeplan…tellingthem“whattodonext”

Thetruthis,itreallydoesn’thavetobethisway.Yes,wearetalkingaboutdeathanddying.No,itisnotfun,andnotsomethingweliketoeventhinkabout.However,theharshrealityisthatsomedayyouwilldie.Sowhenyoubreakitdowntothesesimplefacts,youareleftwithtwochoices:

1.Donothing—andletyourfamilyaddinsulttoinjury

2.Planinadvance—andminimizeoreliminatesomeoftheburdenyouwillleavebehind

We Are All in the Same Boat

WhenIthinkaboutit,Ihadcountlessopportunitiesovertheyearstohavethisdiscussionwithfamily,myclients,myfriends,andsomanyothers.IcanhonestlytellyouthateverydayIregretthefactthatInotonlyfailedtoaddresstheseall-importantissues,butalsothatIdidnotknowhowtoproperlyplanandprepare,inadvance,forsomethingthatisthismeaningful.

Attheveryleast,Ishouldhaveencouragedmyentirefamilytomakesureeachofushasdocumentedsomeofthemostimportantfinalplansandpreferences…inotherwords,“what we would want to have happen”.Thisisnotadifficultprocesseither.Infact,toaccomplishthis,allyouneedtodoistakethetimetocompletewhatiscommonlyreferredtointhefuneralindustryasa“FamilyRecordGuide”(Note:YoucandownloadaFREEcopyatwww.funeralresources.com.)

What Message Would I Love Everyone to Hear?

EverydayIlookatabeautifulurninmyoffice.ThisurnremindsmeofoneofthemostamazingpeopleIwilleverknowand


Christopher Hill, RFC®


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stayinanursinghomecanwipeouteachman’sretirementnest-eggandtotallyimpoverishhisspouseandchildren.

Sohereisthesituation:eightofthetwelvemenstatisticallywillhavetogointonursinghomes,butwedon’tknowwhichones.However,ifanyofthementookstepsnowtoprepareforthepossibilitythathewouldbeoneoftheunluckyones,hecouldpreservehishomeandmostofhismoney,sohiswifewouldnothavetogoonthedoleandhiskidscouldprobablyhaveaninheritance.

Withtheoddsbeingsobadagainsteachman,theonlyprudentactionseemstobethateachmanhastoassumehewillbeoneoftheeightandmakeproperpreparations.Andthat’sthemoralofthisstory:iftheoddsarestronglyagainstyou,preparetobealosersothatyoucanturnouttobeawinner.Astheoldadagegoes,“Hopeforthebest,butpreparefortheworst.”

Hal Fliegelman,Esq.isPresidentofNationwideElderServiceAssociates,LLC(“NESA”)ofCollegeville,PA.Forthepast21years,NESAhasprovidedMedicaidPlanningandVAservicestoover800Advisorsineverystateintheunion.NESA’sTeamConceptanditson-linesoftwareenableAdvisorsprofitablytoofferMedicaidandVAplanningservicestoclientswithoutliability.


TwelvemenweresittinginthecommunityclubhousewatchingtheSuperBowlonwide-screenTV.AlltwelveownedhomesintheActiveAdultCommunityandallwere65orolder.Theywereallinreasonablygoodhealthandallweremarried.

TheSocialSecurityAdministrationsaysthatalmost70%ofpeoplewhoreachage65willhavetogointonursinghomesbeforetheydie.Thismeansatleasteightofthewatchersstatisticallywillwindupinnursinghomes,butalltwelvewereconvincedtheywouldnotbeoneoftheeight.

Theproblemisthatnoneofusknowswhicheightitwillbe,whentheywillenter,orhowlongtheywillstay.Ifthementookavotetoseewhicheightwouldhavetogointonursinghomes,noonewouldwinbecausethechoiceseemstobecompletelyatrandom.However,onethingiscertain:atacostofalmost$100,000peryear,a

A Morality Story For Our Times

Hal Fliegelman, Esq.

http://www.financialsoftware.com

Communication is critical for all your contacts — whether cementing relationships with your best clients or building trust and confidence with prospects.

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Iscribbled:Sam,IjustreadyourrecommendationsforournewclientinFresno.I’mimpressed,greatanalysis.Letmeknowhowtheyrespond.

Isignedmyname,wroteSam’snameontheenvelope,andthrewitintoanover-stuffedFedExenvelopeinmybriefcase.MyplanwastothrowtheenvelopeintotheFedExmailboxbeforeIboardedtheplaneforthelongflighttoChina.ItwasdestinedformysecretarybackinPittsburgh.

Theroutinehadworkedwellforthepast10years.Asmytravelsincreased,IwouldroutinelyFedExnotesbacktomyhomeoffice.Inoticedthatmostoftheotherguysinthefirst-classloungewerecheckingblackberriesandbarkingordersintotheircellphones.Iseemedtobetheonlyguyactuallyusingapenandpaper.

I’mold-fashioned.Inaworldofe-mail,voicemail,textingandsocialmedia,Istillbelievedinsendingapersonalnotetomyemployees.ItwasmywayofshowingthatIappreciatedajobwelldone.

I’mnotaskingforsomeawardasCEOoftheyearforthispersonaltouch,butIneverthoughtitwouldgetmeintotrouble.Butithas.

Asamatteroffact,Iwasscribblingmylastnote.IhadpromisedourHRdirector—nomore.Hetoldmediscriminationchargeshadbeenfiledagainstme.Why?Apparently,Iwasignoringsomeoftheolderemployees.Onehadfiledanagediscriminationcomplaint.HesaidIfavoredyoungeremployeesinmywritingofpersonalnotes.

AspartofthelegalsuitmyofficehadtoreconstructthelastfiveyearsofpersonalnotesthatIhadsent.Ihadnoideahowmanyortowhom,butmysecretary,evertheobsessivecompulsivetype,hadactuallyphotocopiedeachnotebeforesheputthemintheinter-officemail.Soherewastherecord:Ofthe613thankyounotesIhadwritten,awhopping92percentweretoemployeesundertheageof35.

Ofcourse,itwasmywayofabsorbingnewemployeesintotheorganization.Theolderguys,forthemostpart,hadbeenwithusforyears.Theydidn’tneedthefeedback,orsoIthought.

Ourlegalteamhadnegotiatedasettlement.IpromisedtotrackallthankyounotesIsentforthenexttwoyears.IhadtoreporttotheEqualEmploymentOpportunityCommissionthedistributionofmythankyounotes,byage,sex,nationalorigin,andphysicalhandicap.

Fromnowon,everynoteofappreciationwouldbedocumented.EachdraftwouldreviewedbytheHRdirectorforanyinappropriatelanguage(mybawdyhumorwasverboten)andtoidentifyanystatisticalvariancefromthenorm—whatevertonormwas.

Ipromisedagoodfaithefforttoincreasemycomplimentarynotestoemployeesfromunder-representedgroups,especiallythosefolksover50.TheHRguybegansendingmenamesofpeoplethatshouldbereceivingmycovetedpersonalthankyou’s.

ButnowIhadaproblem,Ijustcouldn’tthinkofanythingnicetosaytothesepeople.Itriedwritingthem,butthewordsdidn’tcomenaturally.“Noproblem,”theHRdirectorsaid.Hesentmeasoftwarepackagethathepersonallydeveloped.Itgaveme23differenttypesofthankyou’stochoosefrom.

Itisnowayearlater.I’vewrittenveryfewnotes.Thebadnews:wehaveahigheremployee-turnoverrate.Employeesareleavingbecausetheyfeelnopersonalconnectiontotheorganizationandme.Thegoodnews:Nomorelawsuits,andmyHRdirectorwonanawardforhissoftwareprogram.

Idon’tplanonsendinghimacongratulatorynote.

Hesh Reinfeld,anexperiencedjournalist,passionatelybelievesthataproperlycraftedbioormarketingprofilewillcauseaprospectiveclienttobesufficientlyattractedtoreadit,andtofeel,“I’dliketomeetthisperson.”PerhapsyouwouldlikeHeshtohelpyouprepareasimilarbiographyforyou,ortoassistyouwithwritingassignmentsthatwillhelpyouinyourmarket.

Contact: 412 421 8379 [email protected] www.heshreinfeld.com

Business Mirrors LifeSending Thank You Notes Can Get You In Trouble With the Law


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Liang Tien Lung, RFC®

ChinaDevelopmentOrganization(IMM)(China,HongKong,Macao&Taiwan)

[email protected]

George Flack, CFP®, FPNA, AFAIM, RFC®

[email protected]

Janet Flack Secretary

[email protected]

David Kippen Treasurer

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Antony Francis, RFC®

[email protected]

Choo Siak Leong, RFC®

ChinaChairBeijing,Dailan,Guangzhou,Shanghai

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Zheng Senyuan ExecutiveSecretary

Demetre Katsabekis MBA, Ph.D, CiC, CiM, RFC®

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Nick Tessaromatis Ph.D, CiC, CiM, RFC®

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Samuel W. K. Yung, MH, CFP®, MFP, FChFP, CMFA, CIAM, RFC®

[email protected]

Teresa So Ph.D., MFP, RFP, FChFP, CMFA,

CIAM, EDAM, RFC®

Adviser,[email protected]

Alan Wan, RFC®

[email protected]

Ralph Liew, RFC®

[email protected]

Leena Heblle, RFC®

[email protected]

Aidil Akbar Madjid, MBA, RFC®

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Lisa Soemarto, MA, RFC®

[email protected]

Ng Jyi Vei, ChFC, CFP®, RFC®

[email protected]

Benjamin Kan, FchFP, RFC®

[email protected]

Simon Khor [email protected]

Zahid Khan, RFC®

[email protected]

Ralph Liew, RFC®

[email protected]

Arcellie Lingad AdministrativeAssistant

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Serene Ng SingaporeAdminAssistant

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Richard Wu, RFC®

[email protected]

Carrier Wang CustomerServiceRepresentative

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Raymond Lee ExecutiveSecretary

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Preecha Swasdpeera, MPA, MM, RFC®

[email protected]

Inshan Meahjohn, RFC®

[email protected]

Nigel Salina, RFC®

[email protected]

Danielle Brennan, BA [email protected]

China www.iarfc.cn

Hong Kong www.iarfc-hk.org

India www.iarfcindia.org

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Edwin P. Morrow, CLU, ChFC, CFP®, CEP, RFC®

CEO&[email protected]

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James Lifter, MBA, RFC®

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Develop a New Market - Fee-Based Planning for Business Clients

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Member Profile

Edwin P. Morrow (RFC®)Financial Planning Consultants, Inc.Financial Planning BuildingPO Box 42430Middletown, OH 45042-0430USA

Phone: 513 424 1656Fax: 513 424 5752Email: [email protected]: http://www.financialsoftware.org

Fee Range or Basis:Planning Fee of $1,200 to $6,000 - depending on the complexity of estate holdings and business interests. (See Statement of Services)

Qualifications:Centre College of Kentucky and University of Louisville School of Law, plus having served as instructor for many financial planning courses and Practitioner in Residence at Wright State University for three years.Years Experience: 46

Designations:RFC® , CEP, CFP®, CHFC, CLU

Professional Associations:IARFC, FPA, MDRT, NICEP, SFSP

Financial Services Offered:Asset Protection Business Coaching Business Planning Charitable Planning Education Planning Estate Planning Exec Comp. Plans Personal Coaching Portfolio Management Retirement Planning Seminars/Workshops Tax Planning

Financial Products Offered:Annuities Buy/Sell Plans Charitable Foundations Disability Income Ins. Life Insurance Long Term Care Ins. Mortgage Loans Mutual Funds Precious Metals

Statement of Services:For over 30 years our firm provided comprehensive personal financial planning to individuals, couples, retirees, business owners and corporate executives. Our planning for closely-held businesses included valuation and business continuity, techniques to reduce taxation, key employee incentives, business plan and marketing plan development. FPC pioneered in the development of planning software and the construction of plans for corporate executives. We offered employer-sponsored retirement planning in an educational seminar format, followed by private conferences with each employee and spouse to help them effectively use company benefits and coordinate them with other holdings to assure financial independence. Since 1999 we have focused entirely on the training and support of financial advisors through the continued development of the Plan Builder and Practice Builder professional software programs. Because our services no longer involve the direct sale of financial products or the preparation of comprehensive plans, we have assisted clients in obtaining professional services, insurance coverages or investments from qualified advisors. (Mr. Morrow currently serves as the Chairman & CEO of the IARFC and travels across the world establishing RFC Courses and lecturing to financial advisors.)

Securities Offered Through: A well recognized broker/dealer would be listed in this position.

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International Association of Registered Financial ConsultantsFinancial Planning Building - 2507 North Verity ParkwayP.O. Box 42506 - Middletown, Ohio 45042

Financial professionals helping people do a better job of spending, saving, investing, insuring & planning

Charge Non-Investment Fees • Sell Giant Insurance Policies Diversify Your Practice Revenue • Acquire New Affluent Clients

Develop a New MarketFee-Based Planning for Business Clients

What’s In It For You?

Leading financial consultants and Top of the Table insurance producers have long recognized that the solution is to GO WHERE THE MONEY IS!

The more successful the business, the greater the need for objective assistance from a third party advisor — LIKE YOU!

Acquire All The Tools

PowerPoint presentation, fact finder, letters, agendas, checklists, forms, motivating articles and plan text.

You also receive easy-to-use calculation software that motivates business owners to immediate action.

Charlotte, NC (HB Financial Resources) – Thursday, April 21, 9am – 5pm

Marketing

Approach local businesses using tested letters, articles, sample plans, certificates, agreements and a proven professional presentation system.

Rehearsal

Practice the initial presentation, business evaluation and funding analysis — so you can commence immediately, using the specimen engagement agreement.

Ed Morrow, CLU, ChFC, CFP®, RFC®

Chairman & CEO of IARFC

As a financial advisor Ed used these concepts to acquire long term clients, charge Non-RIA fees and sell millions of life insurance.

This workshop will prepare and motivate you now to provide succession funding, estate planning and debt cancellation insurance for the most profitable class of clients — business owners!

Instructor

SPECIAL ONE-DAY WORKSHOP Contact us for more dates.

psychology of selling — offshore business mehdi’s methods ...mehdi fakharzadeh mehdi...

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