NAIFA's Advisor Today July/August 2017 Edition

Crafted to guard financial health.

Success, together

Why NAIFA producers choose Ohio National

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“If it had not been for my involvement in NAIFA and the one-on-one relationships I have built through my local chapter, I would not still be in this industry today. It is through the LUTCF (now FCP) designation that I began to understand the impact NAIFA could have on my career. It has allowed me to meet and interact with industry icons and legends who energize and support not only what I do but remind me of why it is so important. It is through these relationships that I was introduced to one of the best career contracts in the industry at Ohio National.”

Peter Acquaro, Career Agent, LUTCF

Affiliated with Ohio National since 2012, Peter’s knowledge of the financial services industr y expands through several organizations for more than 16 years. Peter’s titles include: recruiting field manager, director of training and development and managing director for some of the industr y ’s largest organizations. He is currently the President of NAIFA Houston

Request your Opportunity Kit at joinohionational.com or 800.791.3278

Thomas Valentine

“I that I am not st a number

I love that I am not just a number, I’m part of the Ohio National family. I’m all about building relationships and so is Ohio National. Because of their phenomenal products and staff, Ohio National has changed how I how I do my business for the better. They truly are a partner in my success.”

Affiliated with Ohio National since 2011. His company awards and honors include one President’s Inner Circle qualification; one Council of Honor qualification: 2016 George B. Pearson Silver Leadership Award ; ON Concierge Elite member and a four-time member of the Wall of Fame. His agency was ranked Leading Agenc y, Top 40 PGA in 2016. He is also a one-year Qualif ying member of the Million Dollar Round Table. Tom serves on the NAIFA Massachusetts Board of Director s and NAIFA Fundraiser Committee

on the WEB

The Advisor Today Blog

Available at www.AdvisorToday.com

The Advisor Today Blog brings you the tools, ideas and techniques you need to build a successful practice. Fresh content is posted regularly, and we welcome your feedback and ideas in the comments section. We look forward to hearing from you!

ATAsks!

How do your opinions stack up against those of other NAIFA members? To zero in on the topic of this issue’s web poll and find out, answer this question here.

What is the most important step you have taken to boost sales?

• Asked top clients and centers of influence for referrals.

• Developed a niche.

• Conducted client reviews.

• Asked study group members for sales ideas.

podcast series

Building a More Successful Practice

Available at www.AdvisorToday.com/podcasts

In this podcast, industry expert Connie Kadansky explains what it takes to have a prospecting program that works for you.

NAIFA’s Advisor Today

Editor-in-Chief

Ayo Mseka amseka@naifa.org

703-770-8204

Circulation Manager

Tara Laptew tlaptew@naifa.org

703-770-8207

NAIFA

Kevin Mayeux, CAE CEO kmayeux@naifa.org

703-770-8101

Michael Gerber COO & General Counsel mgerber@naifa.org

703-770-8190

Diane Boyle SVP, Government Relations dboyle@naifa.org

703-770-8252

John Boyle AVP, Professional Development & Education jboyle@naifa.org

703-770-8267

Magenta Ishak VP, Political Affairs mishak@naifa.org

703-770-8152

Jennifer Cassidy VP, Finance jcassidy@naifa.org

703-770-8125

Sheila Owens VP, Communications and Marketing sowens@naifa.org

703-770-8112

Diane Powers VP, Professional Development and Education dpowers@naifa.org

703-770-8226

Mark Rogers VP, Information Services mrogers@naifa.org

703-770-8130

Brian Steiner VP, Business Development & Strategic Partnerships bsteiner@naifa.org

703-770-8220

Gary Sanders Counsel and VP, Government Relations gsanders@naifa.org

703-770-8192

Michele Grassley Clarke VP, Membership and Association Services

NAIFA OFFICERS

President Paul R. Dougherty, LUTCF, FSS, HIA, ALHC State Farm Insurance Companies paul@doughertyagency.com

President-Elect Keith Gillies, CFP, CLU, ChFC Ameritas kmgillies@aol.com

Secretary Jill Judd, LUTCF, FSS State Farm Insurance Companies jill.judd.jyt0@statefarm.com

Treasurer MatthewTassey, CLU, ChFC, LUTCF Burwell & Burwell mtassey@scribnerinsurance.com

Immediate Past President

Jules O. Gaudreau, Jr., ChFC, CIC The Gaudreau Group, Inc. julesgaudreau2@gmail.com

CEO Kevin Mayeux, CAE kmayeux@naifa.org

Trustees

David A. Beaty, CLU, ChFC dave@heartlandfinancial.net

Aprilyn Geissler ageissler@farmersagent.com

Todd G. Grantham, CFP, CLU, ChFC, MSFS todd.grantham@nm.com

Bryon A. Holz, CLU, ChFC, LUTCF, CASL bryon@bryonholz.com

Brock T. Jolly, CFP, CLU, ChFC bjolly@financialguide.com

Booker Joseph, CLU, ChFC, FLMI Bookerjoseph@uhc.com

Delvin Joyce, CLU, ChFC delvin.joyce@prudential.com

Thomas O. Michel tmichel@michelfinancial.com

Charles M. Olson, CLU, ChFC Charles@ociservices.com

Cammie K. Scott, LUTCF, REBC, RHU cscott@ckharp.com

Greg Toscano LUTCF Johnson Insurance Consultants gttoscano@yahoo.com

NAIFA SERVICE CORPORATION OFFICERS AND DIRECTORS

President

Kevin Mayeux, CAE

Secretary

Paul Dougherty, LUTCF, FSS, HIA

ALHC State Farm Insurance Companies

Treasurer

Matthew Tassey, CLU, ChFC, LUTCF

Scribner & Scribner

Directors

Brenda Doty, LUTCF, RHU, CLU,CPC

The Doty Group, Inc.

Connie Golleher, CLTC

The Golleher Group

Susan Wier, CFP, ChFC

LUTCF First American Trust

EDITORIAL ADVISORY COUNCIL

Laurie A. Adams, CFP, CLU, LUTCF

Country Insurance & Financial Services

Brian Ashe, CLU

Brian Ashe and Associates, Ltd.

Frank Bearden, Ph.D., CLU, ChFC

Frank C. Bearden, Ph.D., Consulting

Kevin Faherty, LUTCF

Faherty Insurance Services, Inc.

Greg Gagne, ChFC, LUTCF

Affinity Investment Group, LLC

Lisa Horowitz, CLU, ChFC

LifeCycles

Michael Lynch

Metlife

John Marshall Lee, CLU, CFP, RHU

People Insurance & Investments

John Nichols, MSM, CLU

Disability Resource Group Inc.

Ike Trotter, CLU, CASL, ChFC

Ike Trotter Agency, LLC

PUBLISHED BY

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Web: www.naylor.com

Publisher: Heidi Boe

Editor: Tamára Perry-Lunardo

Project Manager: Douglas Swindler

Publication Director: Mark Ragland

Sales Representative: Amy Gray

Marketing: Natalia Arteaga

Project Support Specialist: Alyssa Woods

Published August 2017/NAI-S0417/7738

© 2017 Naylor, LLC. All rights reserved.

NAIFA’s Advisor Today (ISSN 1529-823X) is published bi-monthly by the National Association of Insurance and Financial Advisors Service Corporation, 2901 Telestar Court, Falls Church, VA 22042-1205. Telephone: 703-770-8100. © 2017 National Association of Insurance and Financial Advisors Service Corporation. All rights reserved.

Subscriptions: The annual subscription rate for individual non-NAIFA members is $50; institutions, $60. The international subscription rate for non-NAIFA members is $100 per year.

Closing the Production Gap

By Ayo Mseka

If you are like most advisors, you are probably using these last few days of summer to review your production numbers and assess how close you are to meeting the goals you set for yourself at the beginning of the year. If you find yourself coming up short, don’t despair. From now until the end of the year, you have lots of opportunities to get back on track and still make 2017 a winning year.

You can take the first step in hitting your numbers by getting ready for Life Insurance Awareness Month, the public-relations campaign spearheaded by Life Happens each September to persuade millions of Americans to buy the financial protection they need for themselves and their loved ones.

To help you with this formidable task, we have filled this issue of Advisor Today with lots of information you can use right now. Whether you are new to the business or a seasoned pro, you will discover time-tested techniques for fine-tuning your prospecting techniques, helpful hints for grabbing your clients’ attention, new and not-so-new ways for closing a sale, and the inspiration and the motivation you need to forge ahead.

More opportunities for success

NAIFA’s upcoming Performance +Purpose Conference should also provide you with numerous strategies for bumping up your production numbers. As any past attendee will readily tell you, this meeting is designed to have a positive effect on the financial performance of your practice.

This year’s P+P is a new kind of meeting. Now more than ever, you can customize your sessions by selecting programs targeted at advanced, mid-level, and young advisors. You will learn from top-level experts, as well as be an expert, with the meeting’s new peer-to-peer learning system. And you will have more fun than you’ve ever had at a NAIFA meeting!

NAIFA’s new certification—the LACP

Another tool that will help you serve your clients better is NAIFA’s new certification, the Life and Annuity Certified Professional, or LACP. Through their experience, education, and successful completion of the LACP exam, LACP holders have demonstrated essential product knowledge; experience with the consultative sales process; and awareness and commitment to ethical and legal conduct. Visit www.NAIFA.org/LACP today to learn how you can earn your LACP certification and gain the skills that will set you apart from other advisors.

To close whatever production gap you might be experiencing, all you have to do is make good use of the opportunities outlined in this article. They will show you how to find more prospects and make more sales, and hopefully end the summer on a winning note.

Good luck on your journey to success!

Safeguarding Our Business

By Paul Dougherty, FSS, LUTCF

While each edition of Advisor Today makes it a point to provide an update of at least one governmentrelations issue affecting our business, I always look forward to the July/August issue, when the magazine devotes even more pages to NAIFA’s GR victories.

For example, the feature article in this issue describes some of the steps NAIFA’s Government Relations Team is taking to create a favorable business environment for you and the millions of Americans you serve. As always, the agenda for this formidable team is jam-packed. It includes tax and health-care reform, fiduciary rule, retirement savings and senior financial protection.

Because tax reform is such a top priority this year, the need has never been greater for NAIFA members to deliver this important message to Congress: Now is not the time to make it more difficult or expensive for the 75 million American families who rely on life insurance for their financial security.

This May, it was a privilege to take part in delivering this message to Congress during our Congressional Conference in Washington, D.C. Our voices were heard loudly and clearly throughout the meeting, and we remain steadfast in our resolve to let lawmakers on Capitol Hill, in states and in regulatory agencies throughout the country know who we are, what we do and how we use our talents and expertise to serve our clients. For those of you could not make it to Washington, D. C., I urge you to look no further than your own district for an opportunity to tell your story to the lawmakers representing your state.

Coming soon: NAIFA’s Performance + Purpose Conference

Next month, we will meet again—this time in Orlando—for our Annual Performance + Purpose Conference. As many past attendees can attest, this meeting offers excellent opportunities for networking with industry giants and gaining the insider scoop on what the best in the business do to move their practices forward.

History has shown us that when we come together, we accomplish great things. We accomplished great things at our Congressional Conference in May, and we plan to do the same at our Performance + Purpose Conference this September. So if you have not yet signed up for this important meeting, don’t delay. Visit www.naifa.org now and follow the registration instructions provided. Your ticket to this top-notch event will pay for itself over and over again as you continue to reap great benefits in the months and years to come.

I hope to see you in Orlando!

Paul Dougherty, LUTCF, FSS, is president of NAIFA. He is with State Farm Insurance Companies in Hyattsville, Maryland. Contact him at paul@doughertyagency.com.

new products | life insurance

New Approach for Simplifying Life Insurance Purchasing

John Hancock Insurance has introduced a new underwriting approach that accelerates the life insurance buying process and provides many consumers with a faster and easier way to get the important coverage they need.

Customers who qualify for John Hancock ExpressTrack will receive an underwriting decision in as little as three days, with no in-person paramedical visits or lab work required.

“In today’s rapidly changing and technology-driven world, we are continually focused on developing innovative solutions to meet consumers’ expectations for a quicker and smarter way to purchase life insurance,” says Brooks Tingle, Senior Vice President, Marketing and Strategy, John Hancock Insurance. “Our new ExpressTrack leverages John Hancock’s underwriting and medical expertise together with analytics, data, and cutting-edge technology to enhance the buying experience for consumers and make it easier for advisors to do business with us.”

Consumers with favorable health profiles are most likely to benefit from ExpressTrack and its faster and less invasive underwriting experience, receiving an underwriting decision of Standard up to Super Preferred in just a few days.

To further streamline the process for buying life insurance, advisors only need to provide some basic information to start the application process1 and have their customers considered for the ExpressTrack underwriting experience.2

“The launch of John Hancock ExpressTrack and the new streamlined application process are examples of John Hancock’s ongoing commitment to delivering solutions that will help transform the life insurance purchasing experience for our customers,” says Tingle.

To initiate the application process, advisors have two submission options—JH Life eTicket, available for single-life term submissions, and JH Life Paper Ticket for single-life term or permanent submissions. The ticket processes are available for all ages and face amounts.

Consumers, ages18-60, initiating their application with a John Hancock proprietary ticket and applying for single life coverage of up to and including $1 million may qualify for John Hancock ExpressTrack.

products | life insurance

New Whole Life Insurance Product Makes its Debut

The Guardian Life Insurance Company of America recently launched Guardian EstateGuard Whole Life Insurance (17-SWL). The product offers individuals a unique, tax-advantaged1 financial strategy for protecting, conserving and transferring wealth to their heirs who would otherwise incur high estate taxes. In addition, Guardian it gives policy owners a unique benefit that accelerates the issuance of death benefits to help pay for unexpected expenses incurred as a result of a chronic illness.

Guardian EstateGuard Whole Life Insurance offers significant estate-preservation strategies:

• Two people are insured under one policy, with a survivorship benefit for individuals with sizable estates, making it more economical than two separate policies.

• The policy cash value increases after the first death occurs, so the surviving insured can use the cash value to cover policy premiums and expenses or help supplement retirement income.2

• Clients are given the opportunity to add additional death benefit protection in the early years when they are designing their estate plan and trusts. If qualified, they can receive a 100 percent death benefit match of the base policy face amount, up to $5,000,000 in extra protection in the first four years. There are also living benefits with EstateGuard Whole Life. Individuals are able to withdraw or borrow money from the policy’s cash value to meet living needs that will not be subject to income taxes.3 It can help supplement retirement income, be used for a down payment on a vacation home or cover any other sizable expenses.

“Leaving a lasting legacy is easier with EstateGuard Whole Life. Our clients get the stability of whole life insurance protection unaffected by market volatility, and tax-advantaged cash accumulations that can be passed on to heirs without a large tax responsibility,” says Andrew Gordon, Head of Life Product and Pricing. “Our clients also benefit from a solid financial strategy with three guarantees: a death benefit, level premium payments, and cash value that is guaranteed to increase each year until it reaches the face amount.4 Policyholders may also receive dividends,5 which they can use to increase the policy’s cash value and death benefit above the policy’s guarantees.”

1 Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

2 This Material is Intended For General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and i nformation specific to your individual situation

3 Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by p olicy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the

policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be subject to a 10% federa l tax penalty.

4 All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims paying ability of the issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.

5 Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.

Annuity Rider Offers Guaranteed Rising Retirement Income

For individuals who are currently at or nearing retirement age and looking for a way to increase their retirement income1, Ohio National Financial Services has introduced a new ONdex fixed indexed annuity (FIA) rider. The optional Income Accelerator Guaranteed Lifetime Withdrawal Benefit (GLWB) rider guarantees that as long as withdrawals never exceed the allowed amount, the income it provides will increase each year. In fact, the optional Income Accelerator rider features a distinguishing “Power of 3 Guarantee” that offers three possible ways for income to grow:

1. Guaranteed minimum growth. No matter what the markets are doing, and even if income withdrawals are taken, the rider’s value is guaranteed to increase by at least three percent 2 every year as long as the contract is active. And because income is based on the rider’s value, a higher rider value means more income.

2. Interest credits plus. In any of the first 20 index years, where no withdrawals are taken, the rider’s value will grow by the greater of the interest credited to the contract’s value plus three percent 2 or the interest credited to the contract value multiplied by three, up to a maximum of 10 percent.

3. Annual step-up opportunities. At the end of each index year, the rider’s value and the contract’s value are compared. The rider’s value will step up to the contract’s value if it’s higher, increasing income.

“The optional Income Accelerator rider may provide more certainty for individuals concerned about their retirement assets generating enough income to meet their needs,” said Michael J. DeWeirdt, CFA, FRM, Ohio National’s senior vice president, annuities strategic business. “Because it guarantees income for life that will rise for the duration of the contract, it’s capable of helping to address longevity and inflation risks, two challenges that all retirees face. As a strong addition to our annuity line of business, it can offer protection in different market environments and represents Ohio National’s next step into the rapidly expanding fixed indexed annuity market.”

1 Income means: (1) during the accumulation phase, the amount you withdraw from your annuity in a contract year; (2) during the Lifetime Annuity Period, the amount you receive in annuity payments each year.

2 As a percentage of the initial rider value. The amount to which percentages are applied will be adjusted for step-ups or exce ss withdrawals.

Coping with Rejection

These words of wisdom will let you keep on keeping on, no matter the obstacles that come your way.

By Robert Arzt, CLU, ChFC, LLIF

We have all been there. I hear it all the time from the salespeople I talk to. We make professional sales presentations to well qualified prospects and then face rejection and disappointment. This leads us to ask ourselves: Why does this keep happening? What am I doing wrong? What am I not doing?

The sales profession has always been one of the most challenging in the business world, and it is more complex today than ever. Learning to bounce back and respond constructively to setbacks will be one of the most important things you can do to achieve success.

Here are some suggestions to help you cope with sales rejection, stay positive, overcome adversity and get back on top of your game:

1. Don’t take it personally. Not everyone needs or wants what you are selling, even though you are convinced that what you are proposing will be helpful to your prospect. You are going to hear a lot of “nos.” It is all part of the selling process. It is part of your reality as a salesperson, and it is not personal. It is just the way it goes for even the most successful sales professional. Often rejection is due to poor timing. What is a “no” today can be a “yes” at another time.

2. Keep your sales funnel full. Always focus attention on creating your ideal customer profile and systematically grow your list. Keep your funnel full in good times and in bad. This by itself will change everything. The more contacts you have in your target market, the more prospects you will have, and the bigger your pipeline will be. Greater opportunities will help you keep a healthy perspective about rejection.

3. Know your sales ratio. Knowing what to expect helps a great deal. Understand that you will need to give a certain number of sales presentations in order to make one sale. Don’t forget this. By knowing what the numbers are, you will be able to anticipate the business flow, and you may not get as discouraged if you know how much to expect. Pay attention to your sales ratio to help estimate how many rejections to expect before you make a sale.

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Remember that every disappointment or failure is leading you one step closer to success.

4. Acknowledge your accomplishments. Keep track of your achievements. Keep a success journal. Write down everything you feel proud about in your life and career. Write in this journal on a daily basis. When you’re having a bad day, open your success journal and read previous entries to help get back into a positive mood.

5. Take good care of yourself.  Eat well, exercise and get adequate rest. No matter how busy you are during the day, find time to have a balanced diet, exercise (even if it’s just a walk around the block) and get enough sleep each night to allow you to feel rested and refreshed. The better you feel about yourself, the more positive you’re

going to be. As a result, you’ll have a much easier time in dealing with any obstacles that may come your way. Participate in activities that bring you joy and fulfillment. The best way to do this is to schedule those activities just as you would an appointment with a client.

6. Develop relationships with successful people.  These should be people you can trust and on whom you can depend. Ask them for advice and feedback on how they would respond to similar challenges. Is there someone in your office you would like to emulate? How about a successful client? Another way to do this is to create a personal board of directors and meet with them once or twice a year. You may also want to join or start a study group with like-minded colleagues. Such a group will allow you to share ideas and glean inspiration from each other. Like-minded individuals will also have a much easier time relating to your thoughts and feelings, and vice-versa.

7. Know that you will succeed no matter what. Never give up. Know ahead of time that you will be successful. Everyone faces adversity, and everyone goes through bad periods. The key to your success, both professionally and personally, is to never give up. Remember that every disappointment or failure is leading you one step closer to success.

Rejection is something we need to deal with in sales. How you handle disappointment will determine if you will move forward in achieving your goals. Remember this: “Success is not final, failure is not fatal: it is the courage to continue that counts.” (Winston Churchill)

Good luck to you on your journey to success.

Robert Arzt, CLU, ChFC, LLIF, is President and Founder of Polaris One and Insurance Coach U. Contact him at 510-671-6226 or at bob@insurancecoachu.com. He offers a free coaching session and a free download of his book, “What Every Great Salesperson Knows, A No-nonsense Guide to Success.” His website is www.insurancecoachu.com

Seemingly Successful Families May Be at Risk

Many are leaving themselves vulnerable to risks that may stand in the way of achieving their ideal retirement or may jeopardize their family’s financial future.

By Ayo Mseka

About half of Americans (47 percent) say that if they were to lose their primary source of income tomorrow, they could only maintain their current lifestyle for three months or less.

A study that was commissioned by the Million Dollar Round Table and conducted online by Harris Poll of over 2,000 U.S. adults ages 18 and older finds that many Americans, even those who are considered financially successful, do not account for unexpected risks during their financial planning.

Planning for the unknown

It appears as if many American households are unprepared in the event of something unexpected happening to a family member, thus losing a primary source of income. A majority of Americans (61 percent) say their family would assume debt if they passed away tomorrow, with 38 percent of U.S. adults saying that the debt would be $10,000 or more. Additionally, only half of Americans (50 percent) have life insurance. Of those who have any dependents, 47 percent say their dependents would run out of money without their personal income in two years or less if they were to pass away tomorrow.

“While these families with a steady source of income may seem prepared, they are jeopardizing it all by not having the right protection to ensure future financial security for themselves and their families,” said Mark J. Hanna, CLU, ChFC, MDRT President.

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Only half of Americans (50 percent) have life insurance.

Americans are also not taking in to account the possibility of disability or illness while planning for their financial future. One in 20 Americans (five percent) are unemployed and unable to work because of disability or illness, but only 20 percent of U.S. adults have either short-term and/or long-term disability income insurance. Of those Americans who do have DI insurance, only 39 percent believe it would be enough to cover their long-termcare and medical expenses if they were to have an accident.

On average, Americans say their household has two sources of income, with 40 percent having an annual income of $74,000 or more. “It’s not just lower-income Americans who are vulnerable to financial strain in the event of a life-altering incident; families considered financially successful are also at risk,” added Hanna. “A financial professional can help identify potential risks and work with you to set up a plan that protects your family from these pitfalls.”

Of the Americans surveyed:

• 70 percent have received some college education, are graduates or have a higher degree.

• 62 percent are currently employed.

• 67 percent are homeowners.

• 80 percent have medical insurance.

• 56 percent are parents.

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Only 36 percent of parents with children under the age of 18 in their household are saving for their children’s college education.

Saving for college

College expenses are rising more quickly than inflation; yet, only 36 percent of parents with children under the age of 18 in their household are saving for their children’s college education. Lack of college savings may be a result of many Americans still working to pay off their own student loan debt. According to the Quarterly Report on Household Credit and Debt from the Federal Reserve Bank of New York, Americans currently owe $1.31 trillion in student loan debt.1

The MDRT survey was conducted online within the United States by Harris Poll on behalf of MDRT from January 9–11, 2017, among 2,192 adults ages 18 and older.

1 Federal Reserve Bank of New York, Quarterly Report on Household Credit and Debt

Tailoring Annuities to the Needs and Wants of Your Clients

The first step is to conduct a thorough fact-finding mission.

By Chris Conklin

When I first started my career, a mentor told me that the key to success in selling is figuring out what my clients want. In a nutshell, he said, “Figure out what they want; then give it to them!” When you understand their financial goals and position the right products, their resistance to buying often melts away.

Since every client wants something different, in order to have any success in selling, you need to have a great fact-finding method to help determine the client’s true wants and needs. This is more important than ever due to the Department of Labor’s fiduciary standard rule. To serve each client’s best interests, you need to have a reliable way of uncovering what that client wants.

When we ask clients what they are ultimately trying to achieve with their financial planning, we discover that a fixed annuity is a good way to meet their objectives. This is because a fixed annuity offers what most clients want: safety and growth potential.

The following three steps can help you position an annuity to a client who wants to protect, grow and, ultimately, use his or her hard-earned dollars for retirement.

1. Determine what assets a client currently has

The first step of tailoring your recommendation includes determining what type of retirement savings plan a client currently has. Your client may have his or her retirement savings mostly in stock mutual funds or in bank accounts and money market mutual funds, which are paying essentially no interest today.

While this option may not be serving them as well as it could, clients are often happy with the choices they’ve made and may not want to hear about alternatives. However, it’s important to help them understand that their current strategy may not be in line with their long-term goals.

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When we ask clients what they are ultimately trying to achieve, we discover that a fixed annuity is a good way to meet their objectives.

2. Understand the client’s long-term goals

To help understand what your clients’ priorities are, ask them the following three critical questions to better understand what they want to accomplish with their retirement savings:

1. Are you trying to create a steady, reliable income stream in retirement?

2. Do you want your income to be guaranteed to continue for the rest of your life?

3. Do you want to know right now what income you will be able to rely upon without any guesswork?

These answers can help uncover a client’s post-retirement goals. I have found that clients typically answer yes to all of these questions, which helps transition the conversation to whether their current financial strategy actually accomplishes each of those goals. If a client is relying on some of the most common places where people typically put their retirement savings, such as mutual funds or bank CDs, these products don’t enable them to answer “yes” to these questions. This exercise can help your clients see that their current financial strategy doesn’t deliver the results they are looking for.

3. Discuss how an annuity meets their needs

A fixed annuity can be a great financial vehicle to help clients meet their financial goals. A fixed annuity provides minimum guarantees, which can offer clients peace of mind because they know that they will never earn less than the stated minimum. Also, fixed annuities have numerous income options a client can choose to help turn a nest egg into an income stream at any time. This safety, protection and liquidity can help a client in retirement. Remember that fact-finding is a winning proposition for all parties involved. Your clients win because they end up with products that better meet their financial wants and needs. And of course you win because it helps you make more sales and gain satisfied customers.

Chris Conklin is vice president of individual annuities at The Standard, where he has full P&L responsibility for the individual annuities line of business. Conklin is a Fellow of the Society of Actuaries, has sold insurance and annuities, and co-owned a national marketing organization.

Dig Deep and Wide for Greater Business-Sales Success

By Victor Ngai and Bryan Davis

One of our roles as advanced markets consultants is to help our insurance producers—captive agents and independent brokers—analyze their prospects’ and clients’ situations. With the data the producers collect, we help them determine a course of action to address those situations.

These issues tend to be more complicated because the typical prospects and clients we see are business owners, high-income professionals and high-net-worth individuals and families who need help in sophisticated planning areas (e.g., estate, business and tax planning). In general, deeper fact finding is required when there is greater complexity. Yet, we often find that producers miss important information, don’t dig deeply enough or don’t explore widely enough during the discovery process with their clients and prospects. Not having the right data can prevent producers from providing comprehensive solutions to their clients and increasing their insurance sales. A

By spending more time with your business clients and asking them more questions, you will be in a better position to address their financial issues and concerns—and eventually make more sales.

couple of examples might best illustrate this.

Pay attention to the business’ entity and tax structure

We often hear the word “partner” with regard to co-owners of a business. Yet the word “partner” has a very specific meaning in business planning. A “partner” is an owner of a partnership. Similarly, “shareholders” are owners of corporations; and “members” are owners of limited liability companies. When we ask for the type of business entity, the answer we get is often: “I don’t know” or “I didn’t ask.” Equally important is the tax structure of the business. A business could be a C corporation or one of the pass-through entities; i.e., an S corporation, a partnership or an LLC taxed as either a partnership or an S corporation.

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Not having the right data can prevent producers from providing comprehensive solutions to their clients and increasing their insurance sales.

The entity and the tax structure guide the appropriate design of a buy-sell arrangement, particularly if there are issues involving unequal ownership interests, age disparity, insurability and optimizing basis for remaining owners. They also impact planning for triggering events that the clients may be the most concerned about, such as death, disability, retirement or a third-party sale. Only after the buy-sell arrangement has been designed can we talk confidently about life and disability buyout insurance funding.

Explore the many benefits of whole life

Producers often sell term life insurance to fund a buy-sell agreement. However, issues learned about a business owner outside the business, such as a potential estate-tax exposure, continuing income obligations, minor children, special-needs situations, retirement-income needs or divorce obligations, may lead the product discussion down a different path. While term life insurance is usually the easier sale, permanent life insurance may be the better solution because the insurance can always be repurposed for other business purposes or for personal use if it is no longer required for buy-sell purposes. In addition, the policy’s cash-value buildup can be used to help fund buy-sells that are triggered by a lifetime event, such as a disability or retirement.

Whole life policies can also be repurposed for supplemental retirement savings or for college-education funding. The permanent life insurance policy may solve more issues, particularly if business dollars can be used for premium payments. The entity and tax structure may also impact the ability to transfer policies out of the business favorably.

Pivot into the executive-benefits space

Knowing the business entity and tax structure also allows for an easier pivot into the executive-benefits space. Many nonqualified executive benefits are informally funded with permanent life insurance. However, whether the business entity is a C corporation or a pass-through entity may impact whether or not the strategy may be effectively used with a business owner who inevitably wants what she gives to her employees.

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Knowing the business entity and tax structure of a firm allows for an easier pivot into the executive-benefits space.

In estate-planning situations, fact-finding is critical as well. Too often, the focus is only on estate taxes, but with the federal estate-tax exemption currently at $5.49M per person, estate-tax liquidity insurance sales have been severely reduced. Once it is discovered that net worth isn’t likely to yield a federal estate-tax issue, producers rarely consider selling life insurance for estate planning.

But the following items should be noted:

1. The high federal exemption is the result of Republican influence, but Democrats want a lower exemption and will eventually regain influence.

2. Many states still have their own estate and/or inheritance taxes that require liquidity solutions.

3. The potential repeal of estate taxes would probably still leave an income tax/capital gains liquidity dilemma based upon President Trump’s proposals.

4. Life insurance is the “permission slip” that many clients require to enjoy their wealth while making sure that they can leave an inheritance to their children through the death benefit.

5. Life insurance can be an estate equalizer if it is difficult to divide assets evenly.

6. The most important reason is legacy. Producers worry about estate taxes but rarely talk to their prospects and clients about the legacy that they want to leave to their families and communities. What better way to leave a

significant legacy than through life insurance death proceeds? It’s time to change the narrative from estate taxes to what clients may want to see for their families and communities when they’re gone. During the discovery process with your clients and prospects, make an effort to dig more deeply and get more data. The information you get can be revealing directly and indirectly and is the cornerstone for addressing your clients’ concerns and issues. You will also find out that selling insurance is easier and more productive when you ask more questions.

Victor Ngai is Assistant Vice President and Bryan Davis is Senior Consultant at The Guardian Life Insurance Company of America, New York.

Setting Standardthe

NAIFA’s political advocacy program has set the standard for excellence in protecting the industry and creating a favorable business environment for you and your clients.

By the NAIFA Government Relations Team

NAIFA’s three-part government relations program is the gold standard for advocacy of life and health insurance, annuities, retirement savings and employer-provided benefits. Our grassroots allow us to have an influential presence across every congressional district. Our top-rated, vigorous political action committee (IFAPAC) supports candidates for elective office who share our values and priorities, and our talented and dedicated lobbyists in D.C. and in state capitals are relied-upon policy experts. This strategic combination helps ensure that laws and regulations are beneficial to financial advisors and the clients they serve.

Examples of the efficacy of NAIFA’s government-relations success abound. Below is just a sampling. The key is the steadfast support of NAIFA members. Your involvement at the constituent level, your contributions to IFAPAC and your responsiveness to calls for action underpin NAIFA’s spectacular record of success.

Here’s a look at NAIFA GR in action this past year.

Tax reform

NAIFA continues our robust defense of the current tax treatment of life insurance. Despite multiple prior attempts by Congress and state legislatures to impose new or current taxation on the annual accumulation of life insurance cash values, the current laws that permit the inside build-up of life insurance to grow without tax liability remain in full force. Life insurance cash values are taxed, of course, if the policyholder withdraws them prior to death. But thanks to NAIFA and our allies, death benefits paid to the named beneficiaries are received tax-free. This is in no small part due to the vigilance and involvement of NAIFA members and their representatives.

Adverse tax proposals that NAIFA has successfully stymied—often at an early, not-yet-public stage of the legislative process—include taxing loans from life insurance policies, eliminating the deduction for interest paid

on company-owned life insurance (COLI) loans, limits on the size of life insurance policies that can offer tax-free accumulation of cash values, and restrictions on the use of life insurance by businesses.

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With tax reform a high-agenda item, we are more vigilant than ever in protecting the current tax rules for employer-sponsored, retirement-savings plans.

A quickly moving bill in Oregon would have taxed the inside build-up and death benefit of life insurance. Although the hearing on the bill was scheduled on less than two days’ notice, a contingent of NAIFA members dropped everything to travel several hours to Salem to testify against this bill. The result was that the bill’s sponsor himself did not vote in favor of his own bill.

Fiduciary rule

Among the most impactful issues that NAIFA battled was the Department of Labor (DOL) fiduciary rule. That issue is ongoing, with debate continuing about whether and when to change the now partially applicable final DOL fiduciary rule. But during the pendency of the rulemaking process, NAIFA worked with the DOL, the White House, FINRA and lawmakers, successfully preventing a rule that would allow clients to file lawsuits against their advisors under contract law, to make certain proprietary products could continue to be the subject of retirement advice, to protect advice on annuities from harmful restrictions, and to stave off recordkeeping and disclosure rules that were burdensome in their required detail and frequency.

The final rule is far from perfect—the burdens it places on advisors’ financial institutions, including insurance companies and broker-dealers (and subsequently advisors), cannot be minimized. But it was NAIFA, working with allies in the financial-services and retirement communities, that kept these rules from being imposed on advisors themselves for information, warranties and disclosures to which advisors have no real access.

The issue is not settled; so, NAIFA’s work is not over. Certain elements of the rule—specifically, imposition of the new definition of fiduciary advice, along with the Impartial Conducts Standard and the old version of PTE 84-24, took effect on June 9. The remainder of the rule is scheduled to become applicable on January 1, 2018.

NAIFA is fully engaged with the DOL and members of Congress to get necessary revisions to the rule and a new applicable date so that the DOL can complete the new analysis as directed by the White House. We have conducted surveys and have provided DOL with additional information in two comment letters. We will continue to work for favorable changes to the rule in the upcoming year.

In addition, NAIFA has been, and will continue to be involved in the potential examination by the Securities and Exchange Commission (SEC) into whether broker-dealers and registered investment advisors should be subject to a new, “best interest of client” version of a standard of care. This, too, is an ongoing issue on which NAIFA provides important input and education to SEC commissioners and staff, FINRA, as well as to members of Congress and their staffs.

Healthcare reform

NAIFA was also fully engaged in efforts to repeal-and-replace the Affordable Care Act (ACA). This deeply partisan, high-profile issue is another example of the influence NAIFA has on the legislative process. From enactment of the ACA in 2010, through current legislative efforts, NAIFA advocates to ensure that choice, quality, competition and access to professional service are a part of any health-care reform effort.

We have successfully prevented a single-payer or government-run health insurance system and have witnessed numerous NAIFA-backed revisions to the ACA. We have prevailed in our presentation of arguments about how high-deductible health coverage combined with appropriately-funded (and taxed) health savings accounts are worthwhile options for consumers. We kept flexible spending arrangements (FSAs) viable in the face of proposals to gut them, even as we continue to work towards elimination of the cap on FSA annual funding.

We have successfully educated members of Congress about how adverse it would be to limit the value of health insurance that employers can provide tax-free to their workers. And we continue to fight for greater competition and fair compensation for agents.

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At virtually every level of the very complex ACA, NAIFA’s influence on improving the health-insurance marketplace can be seen.

NAIFA-Nebraska and NAIFA-Iowa successfully lobbied to reverse a decision by insurance regulators to suspend agent commissions on policies sold through the now bankrupt ACA Co-Op operating in those states. Due to those critical efforts, agents will be placed higher in the bankruptcy process of the Co-Op to retrieve payments

owed.

Legislation backed by NAIFA-Tennessee was enacted, permitting advisors to charge fees with written disclosure to clients in connection with a health insurance plan if the advisor will not receive a commission as part of the transaction.

NAIFA-Arkansas successfully secured authorization from the Arkansas Department of Human Services, which permits advisors to assist consumers eligible for the Arkansas “Private Option” Medicaid expansion throughout the entire enrollment process.

At virtually every level of the very complex ACA, NAIFA’s influence on improving the health-insurance marketplace can be seen. However, NAIFA-backed proposals to further increase the accessibility and affordability of health insurance are needed to foster a robust and competitive private market to offer employers and individuals ample coverage options to meet their healthcare needs.

Retirement savings

NAIFA continues to fight for rules that enhance and improve overall retirement readiness. Unfortunately, the tax-deferred nature of many retirement-savings programs becomes an attractive target for lawmakers looking for revenue to offset other tax priorities. With tax reform a high-agenda item, we are more vigilant than ever in protecting the current tax rules for employer-sponsored retirement savings plans. Proposals that limit the amount of pre-tax contributions to plans or favor after-tax contributions to the detriment of small businesses and their employees are a current focus of our advocacy efforts.

NAIFA supports—and is persuading lawmakers to support—many favorable proposals that will help middleincome Americans save for their retirements. NAIFA-backed proposals moving toward enactment into law include:

• One that would provide employee participants with an illustration indicating approximately how much lifetime income a worker might expect from his or her current account balances during retirement

• A proposal that would lessen the cost of sponsoring an employer plan by allowing required notices and disclosures to be delivered electronically

• A proposal to allow small businesses to join together to sponsor a retirement savings plan (open MEPs)

• Proposals to streamline and/or add flexibility to the participation (non-discrimination) rules applicable to employer-sponsored, retirement-savings plans

NAIFA again successfully fought off an adverse federal proposal that would require heirs to take distributions (and pay tax) within five years of inheriting IRAs and 401(k) plan balances (absent certain exceptions). NAIFA’s efforts have also made clear that life insurance has a key role to play in a sound retirement savings plan.

NAIFA state associations, including Maine, Vermont, Utah, Georgia and Colorado, played a crucial role in successfully opposing state-run retirement plan legislation which would needlessly compete with private retirement solutions.

Working closely with NAIFA and coupled with an impressive grassroots effort, Congress passed and the President signed H.J. 66 and H.J. 67, preventing the Department of Labor from exempting local or state government-run retirement plans from worker protections under ERISA.

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Your involvement at the constituent level, contributions to IFAPAC and responsiveness to calls for action, underpin NAIFA’s spectacular record of success.

Senior financial protection

NAIFA’s efforts have resulted in a federal bill—poised for enactment at any time—that protects fragile elderly individuals from exploitation by unscrupulous people seeking to bilk them of their savings. The Senior $afe Act— largely due to NAIFA’s input—protects NAIFA members from liability when they, in good faith, report to the authorities any evidence they see that their clients and prospects may be victims of this unscrupulous exploitation. NAIFA strongly supports this important legislation, was active in its development, and continues to encourage Congress to enact it as soon as possible.

NAIFA state associations, including Louisiana, Colorado, Oklahoma and Montana, successfully amended bills designed to protect seniors from financial exploitation to include provisions that protect advisors from liability and establish a voluntary rather than a mandatory reporting of suspected elder financial abuse.

Flood/NFIP

NAIFA’s multi-line members have cause to be particularly satisfied with the value of their NAIFA membership in

light of NAIFA’s successful efforts to make sure the National Flood Insurance Program (NFIP) reauthorization bill will contain provisions that allow write-your-own flood insurers to fairly compensate agents for their advice to clients on flood-insurance issues. Early NFIP reauthorization proposals suggested reimbursement levels that would have prevented—due to inadequate allowable compensation—agents from participating in the floodinsurance market. NAIFA and ally efforts appear poised to prevent that adverse result.

As it has done for decades, NAIFA will continue to provide important input to ensure that proposed laws and regulations are good for the millions of Americans who rely on the service and products you provide. We look forward to working with you to achieve laws and regulations that help your clients, stabilize the market and promote a prosperous business climate for you now and in the years ahead.

TimeManagement Tools for a More Productive Day

These tools will help structure your day, regardless of any distractions you may have to deal with.

By Daniel C. Finley

In order to become proactive in a reactive environment, you need to have the right time-management tools to help keep your day structured, your interruptions prioritized and your momentum going. Think of a carpenter going to work each day with his or her toolbox; without it, they may not have the right tool to get the job done. If you are armed with the right equipment, you can get down to the job of properly managing your time.

Time-management tools

Your business is the same way. You need time-management tools to stay proactive. Time blocking , a daily score card , a time matrix to-do list and a bottom-line list are some of the tools that can be used to keep your day structured, regardless of any distractions that you may have to deal with during the course of the day. To continue using these tools long enough to turn them into habits, be sure to anchor your activities with positive-reward

systems and negative- punishment systems.

Here is a brief description of these tools.

Time blocking

This is probably one of the most basic tools in mastering time management, and it is also probably one of the most effective. Time blocking is about splitting your calendar up into chunks of time in order to block time for activities that need to get accomplished. Once you form the foundation of your week, you map out your hourly activities and focus on those activities specifically to ensure greater optimization of your time.

Daily score card

Years ago, one of the top producers in the office revealed her secret to success. She said that I should view building and running a business as a game that you play on a daily basis. In order to “win” the game, you must keep score; creating and using a daily score card are a must in utilizing your time and your activities.

One of the ways to do this is to split up your daily score card with headings that coincide with your time blocking hours. Then, assign a point system to each sub-task under the headings. One example is creating a “prospecting” heading with sub-tasks of dials, contacts, appointments asked for, and appointments set. Assigning points might consist of 1 point for each dial, 2 points for each contact, 3 points for each appointment asked for and 4 points for each appointment set.

Set a daily goal of how many points you wish to get in each sub-task and overall. Record your progress and add up the totals at the end of the day. Remember to have a daily, weekly and monthly rewards system for all the goals you accomplished.

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Once you form the foundation of your week, map out your hourly activities and focus on those specifically to ensure greater optimization of your time.

Time matrix to-do list

A prioritizing system is firmly ingrained in you already. When we get interrupted, we usually have one of two choices: We either stop what we are doing and take care of the interruption, or we put off the interruption and possibly return to it at another time.

The solution to avoiding interruptions is actually not to avoid them at all, but to have a system for prioritizing interruptions in the same way each time they occur. I categorize activities into one of the following four quadrants:

1. Important and urgent

2. Not important and urgent

3. Not urgent and important

4. Not urgent and not important

We seem to always spend our time in at least one of these quadrants for each activity we are currently working on. The time matrix to-do list is a to-do list that has four numbered columns in which you assign check marks in the appropriate column for each task. The secret is to take care of the #1s first, (important and urgent activities) before moving to the #2 activities.

The bottom-line list

Start the night before by writing down the top five things you must do—this is your bottom-line list. Then, prioritize these five things so that you can start fresh tomorrow with the most important activity. Next, focus only on each activity for 45 minutes of each hour, giving yourself the final 15 minutes to re-group. Get ready for interruptions because you will get them.

Once you complete your first block of bottom-line activities, take a 15- minute break and then go to the next. By the end of the day, you should have accomplished at least four of the five bottom-line activities.

The most important thing to remember is that the time-management tools described in this article will work for you, but you must utilize them on a daily basis so that they become a habit with you. Once they become a habit, I have no doubt that you can be more productive in the same amount of time than you were before you started using them.

Daniel C. Finley is the President and Co-Founder of Advisor Solutions—the premier financial advisors business consulting and coaching service dedicated to helping advisors build a better business one solution at a time. He can be reached at dan@ advisorsolutionsinc.com or at 715-262-2040.

<See NAI-S0416, p. 32-34 for how the association would ideally like this to be laid out; of course we will likely be constrained by our new digital platform.>

Election 2017

NAIFA Presents Nominees for Election of Secretary, Treasurer and Trustee.

Delegates representing state and local associations will elect their new leadership at the 2017 NAIFA Performance + Purpose Conference in Orlando, Florida. Paul Dougherty, FSS, LUTCF, will become NAIFA’s immediate past president, and Keith Gillies, CFP, CLU, ChFC, will become the president of the association. As directed by the NAIFA bylaws amended at the 2016 NAIFA Conference in Las Vegas, the Committee on Governance has announced a single nominee for each available position of Secretary and Trustee.

Secretary

Cammie Scott, MSIE, ChFC, CLTC, LUTCF, REBC, RHOU, SHRM_SCP, SPHR

Cammie K. Scott, MSIE, ChFC, CLTC, LUTCF, REBC, RHU, SHRM-SCP, SPHR, is owner and president of CK Harp & Associates in Springdale, Arkansas. In this capacity, she is responsible for a wide range of functions, including evaluation of employee benefit plans, analysis of company policies and procedures, provision of advice on improvements to current plans and procedures, provision of advice to clients on improving employee attraction

and retention and helping them improve their bottom line. She is also an instructor at the University of Arkansas.

Scott has been a NAIFA trustee since 2015. She is an IFAPAC contributor, chair of the association’s Diversity Task Force, was a member of the NAIFA Member Benefits Committee, chair of the LILI Subcommittee and chair of LILI Moderator Training.

As membership chair of her local and state associations, Scott exceeded the membership goal. Her local association also won the platinum award in membership when she was the state membership chair, qualifying as the top recruiting local association in the nation.

Scott is a LILI graduate and mentor and helped develop the revised NAIFA Quality Award. She was part of the LUTCF Advisory Group and has spoken at numerous state and local meetings. She is a member of several local chambers of commerce and volunteers with Springdale Benevolent Foundation. She is an active member of her church and participates in her children’s school activities. She has authored numerous articles for several publications.

Scott and her husband live on a farm. They have two boys, twp dogs and a cat. The family enjoys gardening, hiking with the dogs, riding horses, and ATVs.

Treasurer

Matthew S. Tassey, CLU, ChFC, LUTCF

Matthew S. Tassey, CLU, ChFC, LUTCF, graduated from UNH in 1973 and immediately entered the life insurance business as an agent in Dover, New Hampshire. He and his family moved to Maine in 1975. Tassey has served in every elective office of his local and state LUA and was elected a trustee of NALU (now NAIFA) in 1990; he was re-elected in 1992. He has served as a field trustee of LUTC and as national president of AHIA (1998–1999). He has also served as chair of the Life and Health Foundation for Education, now Life Happens. He currently serves as treasurer of NAIFA.

Specializing in disability income and life insurance, Tassey has helped place millions of dollars of premium throughout New England. He is highly regarded as an expert in plan design and creative sales strategies. He maintains an office in Portland, Maine, as a brokerage outlet for the Principal Financial Group. He is a principal of Scribner Insurance and Burwell & Burwell, an employee benefits broker.

Trustee

Connie Golleher, CLTC

Connie Golleher, CLTC, is founder and CEO of The Golleher Group. Her areas of expertise include multi-life DI income, retirement solutions, executive benefits and life insurance.

Golleher is past president of the NAIFA Greater Washington Foundation and past president of NAIFA-Greater Washington. She has met with Washington, D.C. government officials to discuss industry issues annually for more than 10 years and is an IFAPAC Contributor.

She has served as a YAT mentor, was an Advisor 20/20 participant and is a recipient of the NAIFA Quality

Award. She is also a member of the Women in Insurance and Financial Services.

She has been a member of the M Financial – National Study Group for 10 years, a mentor to young producers for M Financial firms nationally and a facilitator at the Women in Insurance and Financial Services Breakfast Meeting.

Golleher is also a past board chair of For Love of Children, a board member of the D.C. Police Foundation, committee member of the Washington Area Women’s Foundation, committee member of the American Red Cross’ “In The Bag” Event,and served as finance chair of the ERUCC (church).

Golleher has been published in numerous publications, including Managing Partner, Legal Management & ALA News, Kiplinger’s Retirement, Employee Benefit Review and the Business Review.

Golleher enjoys supporting the nation’s veterans and military families. As part of that support, she joins her mother and other Gold Star Wives every month to help with the advocacy of widows’ benefits. She enjoys being in or on the water, horseback riding, playing with her poodles and reading.

Trustee

John Wheeler, Jr., CFP, CLU, ChFC, CRPC, LUTCF

John W. Wheeler, Jr., CFP, CLU, ChFC, CRPC, LUTCF, started his career in 1969. He is a Registered Securities Principal and Executive Vice President of Water Tower Financial Partners, LLC, Mass Mutual Chicago. His practice specialties are advanced business planning and estate planning, and personal comprehensive financial planning.

Wheeler is a NAIFA-Illinois past president and served on the board for six years. He is currently National Committeeman, and was NAIFA Central Region APIC co-chair for two years. He is currently serving as NAIFA National Committee APIC co-chair and is the chair of NAIFA-National Member Benefits Committee. He is a congressional council member and has hosted or co-hosted numerous fundraisers for local and national candidates.

He has moderated LUTC classes more than 20 times, connected NAIFA with The College for Financial Planning, helped develop the new NAIFA LUTCF program, co-authored the new NAIFA DOL Skill Builders Workshop and has presented it three times.

Wheeler has been a MetLife conference qualifier for numerous years and was Agency Sales Manager, Country Financial Hall of Fame 2002, Master Agent 1995–1996, All American 25 years, All Star 24 years, and company record holder in numerous categories. He served on the Agency Advisory Council for 10 years and has received numerous industry awards. He has also qualified for the MDRT numerous times.

Wheeler is a founder of the Carol Stream Chamber of Commerce, where he served as president eight times and served on the board for 32 years. He received the “Illinois Reaches Out Award” in 1997 for community participation and was a recipient of the “Country Spirit Award” in 1998.

Wheeler has been a speaker at countless industry meetings and has been quoted in numerous financial magazines.

Trustee

Ryan J. Pinney

Ryan Pinney is Vice President of Sales & Marketing at Pinney Insurance. In this capacity, he oversees the recruitment, training, advanced planning, marketing and sales support for affiliate general agencies, institutional accounts, broker/dealer partners and agent network. His personal focus is estate and retirement planning, with an emphasis on impaired risk insurance products.

He is the NAIFA Northern California PIC/PAC chair, NAIFA Northern California immediate past president, 2012–14 NAIFA Northern California president, 2011.He served as NAIFA Sacramento YAT chair in 2006. He was a member of the NAIFA 20/20 Task Force in 2015.

Pinney has participated in both State and National Day on the Hill events, worked closely with the State of California Department of Insurance at NAIFA’s behest to rewrite the state’s life insurance exam, testified before the State Insurance Commission,and has been a subject matter expert on insurance for state legislators.

Pinney has received numerous prestigious awards, including Advisor Today’s Four Under Forty Award and NAIFA-California – AAA Award, and he is a 2012 graduate of NAIFA’s Online Leadership Academy.

He is actively involved in several industry organizations, including MDRT, NAILBA and LIDMA, and plays an active role in a wide range of community groups.

Pinney enjoys reading, traveling, learning new things, technology, hunting, teaching, public speaking and spending time with family and friends.

Trustee

Todd Grantham, CFP, CLU, ChFC, MSFS, CASL, is a Wealth Management Advisor with Northwestern Mutual, where he has been since 1996. After more than two decades of experience in the financial-services industry, he has developed a practice that helps business owners ad professionals activate heir long-term goals while protecting those they love.

A graduate of NAIFA-NC’s first LILI class, Grantham supports the industry and his clients. He has served as president of his local association three times, as National Committeeman for years, and was honored as NAIFATriangle’s Advisor of the Year in 2002.

At the state level, Grantham served as president in 2008–2009, PAC chair and board member, and was the 2014 Advisor of the Year. He has served at the national level of the YAT, Member Benefits, and IFAPAC Committees.

His NAIFA membership activities include working to build membership within Northwestern Mutual. He has held many agency meetings, and in 2008, he did major agency presentations for other companies while state president.

He is a LILI graduate or moderator, an LUTCF moderator, a YAT mentor, a NAIFA Quality Award recipient, and a NAIFA Online Leadership Academy graduate.

He was a local president and board member for the SFSP and a member of the Financial Planning Association and the Estate Planning Council.

Todd G. Grantham, CFP, CLU, ChFC, MSFS, CASL

Grantham coached high school and club wrestling for nearly 20 years. He is a board member for the Durham Jaycees, president of the North Durham Rotary Club, and volunteers for events of the NC NAACP. He and his wife, Robyn, have four daughters.

Trustee

Bryon Holz, CLU, ChFC, LUTCF, CASL

Bryon Holz, CLU, ChFC, LUTCF, CASL, began as an independent agent with Franklin Life while a senior business major and Presidential Scholar at the University of Tampa. Thirty-four years later, he is a registered principal, investment advisor representative and president of Bryon Holz & Associates, an independent financialservices practice with a team of nine associates and assistants, focusing on life insurance and retirement planning.

Holz’s passion for his profession compelled him to serve NAIFA in various ways over three decades, including as president of the Tampa and Florida associations, LILI graduate and two-time moderator, National Membership and Member Benefits Committees, and inaugural member of NAIFA’s Congressional Council. Holz was honored with NAIFA-Tampa’s Distinguished Service Award. Under his leadership, NAIFA-Tampa earned the Jack E. Bobo Award of Excellence twice.

His commitment to excellence is reflected in his being a life and qualifying Court of the Table member, regularly supporting MDRT and its Foundation (Gold Knight) on a variety of committees.

Holz’s passion for serving others extends beyond his practice into active participation in his faith community and in various other organizations and charities. A graduate of Purdue University’s Professional Management Institute in Insurance Marketing Management, Holz and his wife, Leesa, have two children—Sarah and Andrew.

NAIFA’s LACP is ‘Another Feather in the Agent’s Cap’

New NAIFA LACP certification recognizes experienced financial professionals for their product knowledge, consultative sales process and adherence to ethical standards.

By Aamir Chalisa, MBA, LUTCF, LACP

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Aamir Chalisa (right) at the MDRT Meeting with colleague Shane Westhoelter

NAIFA has rolled out the Life and Annuities Certified Professional (LACP) certification. In June, the association launched the certification at the MDRT meeting, where it was well received by attendees. In the few months after its launch, more than 130 established financial professionals have been certified to be LACP candidates, and125 more are in the process of completing their application, with the number of applicants continuing to increase each day.

And the momentum continues. SagePoint/Advisor Group and Cambridge Investment Research, Inc., recently informed NAIFA that they have approved the LACP for use by their representatives. And dozens of other companies are reviewing the certification for use by their agents.

I am very proud of my involvement in the developmental stage of the LACP. I was invited by NAIFA to work with the vendor who created the test. I helped write test questions for the exam and had detailed discussions with fellow committee members about what the LACP certification is all about and how it will help agents demonstrate to their clients that they are true experts in life insurance and annuities, beyond their industry licenses.

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In years to come, agents with this global certification will stand out from the rest and will cherish the fact that they have it. I know I will!

As we worked together, we concentrated on creating questions that give a case study and test the practical knowledge of an agent, above and beyond the topic itself. By working collaboratively, we were able to come up with a great exam that truly tests a candidate’s knowledge of life insurance and annuities.

NAIFA then asked me to join them at the MDRT meeting, and what an experience that was! Standing at the NAIFA booth for three days and talking to hundreds of agents from across the world gave me an opportunity to get to know them and to talk to them about what NAIFA is and what the LACP certification is all about. Also, I was able to share some first-hand experience with them about the certification process, since I was going through it at that time. In fact, I believe that I was the sixth agent to be LACP-certified!

I was also able to answer a lot of questions by the attendees about NAIFA. Many stopped by just to take pictures, while others used our comfortable sofas to relax and rest between sessions. It was interesting to converse with many who barely spoke English; so, having information about the LACP in many languages was very helpful. It made me realize what a global world we live in and the opportunity NAIFA has to create a name for itself throughout the world by promoting the LACP certification. In addition, it was great to see many attendees from the U.S. sign up for the certification on the spot, since they were keen to have it on their business cards.

Overall, the LACP is a certification that tells consumers that the agent they are doing business with is knowledgeable about life insurance and annuities and has earned the certification through experience or by

<I know it’s not great quality, but it’s all we have, so we’ll just run it small>

mastering the exam content. Consumers can feel they can trust an agent who has this certification.

The LACP certification is another feather in the agent’s cap. It tells the client that the agent is not only licensed by his state’s Department of Insurance, he is also certified by a renowned and well-known association. I am sure that in years to come, agents who have this global certification will stand out from the rest and will cherish the fact that they have it. I know I will!

Aamir Chalisa, MBA, LUTCF, LACP, is Managing Director with Futurity First Insurance Group in Oakbrook, Illinois. He is a member of NAIFA’s National Diversity Task Force. Contact him at aamirchalisa@ffig.com.

| professional development & education

NAIFA Performance + Purpose 2017

You’ve never been to a NAIFA meeting like this before!

NAIFA Performance + Purpose is a new kind of meeting. More than ever, you can customize your sessions by choosing sessions targeted at advanced advisors, young advisors and everyone in between.

NAIFA Performance + Purpose will focus on professional development by having advanced practice speakers, networking, peer-to-peer learning, an opportunity to give back to the community and fun! The meeting, which takes place in Orlando from September 8–10, will be chock full of educational workshops, the Braindates lounge, a community service event and a Friday night party at the House of Blues. This is one conference you do not want to miss.

Here are a few highlights:

This year NAIFA introduces Braindates

Braindates is an app that redefines networking and reinvents what a professional-development conference can be. The Braindate app, matchmakers and lounge take the luck out of networking and help you achieve meaningful one-on-one meetings. Attendees can create their P+P Braindate profile, search and browse other profiles to find people with shared interests and schedule face-to-face meetings in the Braindate lounge located in the conference’s Expo Hall. It’s a personal networking matchmaker.

The Together We Rise service project

Together We Rise is an organization that helps change the way kids experience foster care in the U.S. On Thursday, September 7, before Performance + Purpose is officially under way, attendees will come together to build bicycles or decorate duffle bags for Together We Rise.

NAIFA Skill Builders Workshops

NAIFA P+P will offer an in-depth dive into skills that will make you a more successful advisor. Check out the special NAIFA Skill Builders Workshops, Professional Prospecting with Dan Finley and Time Management for Financial Professionals with Bob Arzt. These workshops are half-day seminars you can add to enrich your P+P experience.

Thursday early check-in

Arrive in Orlando on Thursday to take advantage of everything that Performance + Purpose offers, including Friday morning workshops and the opening of the NAIFA Expo. Early check-in will be open from 1:00–8:00 p.m. and will include an informal happy hour.

Keynote Speakers

Leigh Anne Tuohy is the inspirational subject of The Blind Side and author of Turn Around: Reach Out, Give Back, and Get Moving. Rich Karlgaard is Publisher of Forbes magazine, as well as an entrepreneur, forecaster and author.

House of Blues event

All conference attendees are invited to this social event at the House of Blues on Friday night at 9:30 p.m. featuring the Thomas Nicholas Band.

Find out more about all the events at NAIFA Performance + Purpose by visiting www.naifa.org/conference Be sure to follow Performance + Purpose on Twitter @NAIFAConference to stay up-to-date on the conference program and on our destination of Orlando.

Make Performance + Purpose a Win-Win with LILI!

Make your conference experience complete by attending the following LILI events at NAIFA’s Performance + Purpose 2017.

LILI

Alumni Networks Reception

On Thursday, September 7, from 6:00–7:30 p.m., LILI alumni and their guests will enjoy a reception featuring recognition of newly trained moderators. Light hors d’oeuvres will be served, and all registrants will receive one drink ticket. (Event fee: $35 in advance, $45 on-site.)

LILI

7

Listen to Antarctic Mike, a professional speaker with a 20-year track record of success in the sales and recruitment industry talk about how an expedition to Antarctica changed his life and his life lessons in “Leading at 90 Below Zero, Extraordinary Results in Extreme Conditions.” The LILI 7 Workshop will take place on Saturday, September 9 from 2:30–5:00 p.m. (Event fee: $100 in advance, $120 on-site.) Attendees do not need to be LILI graduates.

For more information, visit www.naifa.org/conference

Growing Your Business Market

Here are two great ideas for revving up your business-insurance sales.

By David Szeremet, JD, CLU, ChFC

Editor’s Note: For the sales ideas in this issue, we go to David Szeremet, an industry expert who knows a thing or two about succeeding in the business-insurance market. Pay close attention to the following ideas and you will acquire more business than you ever imagined!

Stay on target!

Some life insurance advisors new to the business market struggle because they fail to stay on target. To keep things simple, they should keep in mind that the business life insurance market consists of three targets, each of decreasing importance. These markets are: (1) protecting the operating team; (2) business succession planning; and, (3) fringe benefit planning for top employees.

Protecting the operating team is generally the most important target. It’s also the easiest to articulate. Any successful business owner should understand that key employees are, by far, a business’ most valuable asset. Just as machinery and buildings are insured, so, too, should key employees be insured. With key-person life insurance, the policy death benefit is designed to indemnify the business and buy the business time to find and train a replacement.

Once the operating team is protected, business succession planning is the next target. Buy-sell planning is a time-tested strategy. Common sense dictates that it is much easier to plan for the sale or ownership transition of a business while all interested parties are healthy and under no financial strain. Planning for transition after an owner’s death is generally the worst possible time. Due to its cost-effectiveness, predictability and tax treatment, life insurance takes center stage when it comes to funding a buy-sell agreement.

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Any successful business owner should understand that key employees are, by far, a business’ most valuable asset.

The third target, fringe benefit planning, accounts for some of the largest sales. Cash value life insurance strategies, such as executive bonus, split-dollar and supplemental executive retirement plans, are where creative life insurance advisors thrive. It’s also where you find the least competition. Top employees are looking for compensation sweeteners and business owners are looking for affordable ideas. You can deliver if you remember to stay on target!

Make the most of your clients’ milestone events—offer to take their children out to lunch Life’s milestones are big moments for your clients; so, offer to take their children out to lunch when they reach a

milestone event. The meeting is mostly informal. The primary goal is to get to know your guest and demonstrate that you can be an excellent listener. The meeting also serves to build trust with the next generation. Over time, these relationships will help grow your sales.

During the lunch, you can weave in a variety of relevant topics. Topics will vary by the type of milestone event you are celebrating. They include:

• First job. Topics include the importance of setting a budget, developing healthy spending habits, and how to choose between competing wants/needs.

• High school graduation. Topics include post-high school plans and financial “next steps.”

• College graduation. Topics include managing college debt, spring boarding a good credit rating, and protecting insurability.

• Marriage (spouse should be in attendance). Topics include first home purchase, how to blend finances and how to constructively discuss money.

• Birth or adoption of a child. Topics include time management skills and establishing an education fund.

David Szeremet, JD, CLU, ChFC, is second vice president, Advanced Planning, at Ohio National Financial Services based in Cincinnati, Ohio. Szeremet is responsible for the Advanced Planning team that provides estate planning, executive benefits, business insurance and life insurance planning. He can be reached at david_szeremet@ohionational.com or 513.794.6389.

Four Ways You May Be Missing the Human Touch

Explore these opportunities if you want to make a real connection with your prospects and clients.

By John Pojeta

Relationship selling is one of the oldest sales methodologies. While I’d argue that there are more consistent and effective sales methodologies available today, many of the lessons that we learned from relationship selling are still valuable. How you connect with your prospects and clients on a human level will always be important and can end up making a big difference in your business.

Again, relationship selling is not a new idea, and that’s probably why you are missing opportunities to leverage the human touch to its fullest potential. You are thinking, “I’m friendly, and I’ll ask about a client’s kids or golf hobby,” and move on.

Here are a few opportunities you might be overlooking:

Leverage your network before you take a first meeting

This is advice that everyone thinks they’re following because they check their LinkedIn connections, but one of our advisor clients showed us how you can take this to a new level. Before he attends a meeting, he asks everyone in his firm if they know either the prospect or anyone else at the prospect’s company. He also checks his own network for people who might know the prospect, and calls in a favor. He’s established the fact that he would go to the ends of the earth for people in his network; so they typically do the same for him.

Avoid getting bogged down in the details of the plan, especially early on In-depth product knowledge is valuable, but the more you lean into the particulars of a plan, the farther you tend to drift away from the human being across the table. Find commonalities between you and your prospect so that you can connect with them. Do this by researching the prospect ahead of time and by understanding what prospects in your space care about. Sometimes that connection can come from something as simple as your articulating a business problem they might have and why it would matter to the prospect.

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When you integrate more human-to-human connections into your business, you build a web of stronger relationships.

Be three-dimensional

We sometimes think that being the subject-matter expert also means putting on a façade of infallibility and

invincibility. But part of being human means being vulnerable and flawed. It’s OK to talk about challenges you might be facing or tell a personal story. For instance, did you spend all day yesterday in the emergency room because your 10-year-old broke his arm playing football? Talk about it. You can open the door to your personal life and still be professional. The result is a prospect who is more engaged with you.

Remember that mindset and sincerity matter

Just because you present content that seems personal to a client or prospect doesn’t mean that it will come across as genuine. There is no way to fake being genuine, but it might help to think of you and your prospect as peers. You might be selling something, but if you frame the interaction in your mind as a meeting of two equal professionals working collaboratively toward the same goal, this might help you talk and engage with your prospect in a way that comes across as natural and authentic.

When you integrate more human-to-human connections into your business—from your sales process to how you engage your employees to how you manage your network—you build a web of stronger relationships. More engaged prospects mean more sales and more loyal clients. By having a network of people who feel like they know you and are deeply connected with you, you will have more help when you need it. And employees who feel like they know you inherently trust you and want to help you succeed.

Leveraging the potential of the human-to-human touch has been the subject of so many books and has been taught at so many seminars that we’ve turned an authentic and organic part of being human into a paint-bynumbers formula. Step back from that and acknowledge the reality of who you and your prospects are so that you can make a real connection.

John Pojeta is vice president of business development at the PT Services Group. He researches new types of business and manages and initiates strategic, corporate-level relationships to expand exposure for The PT Services Group. Before joining The PT Services Group in 2011, Pojeta owned and operated an Ameriprise Financial Services franchise for 16 years.

Transitioning from P/C to Life Insurance Sales

Use the approaches described in this article to pivot from a P/C sale to a life insurance sale.

By Ray Vendetti, CLU, ChFC

Since I entered the business over 30 years ago, the most common mystery has been to find the magical “pivot” sentences to help transition from one product to another, especially from P/C to life insurance. Here are some powerful and compelling approaches that you can use to help make your transitions with clients and prospects more successful.

First, let’s look at this from the prospects’ viewpoint. The mindset of most prospects is that of sales resistance. They usually have or build a sales barrier when approached about something that was not top-of-mind.

When selling insurance, agents usually move from one P/C product to another by saying something like, “I’d like to give you a free quote [does anyone really charge for a quote?] on your auto/home renewal. Maybe we can save you some money.” Sometimes effective at obtaining an “X” date, this approach essentially puts forth the idea that the only reason for changing is price. In other words, if we can save you some money, you should switch; otherwise, we will see you same time next year.

Other approaches stress advantages like multiple policy discounts and ease of service when everything is with one carrier. But when many prospects hear any of these sentences, they think we want to sell them something and raise their barrier.

Here’s a way to break that barrier. Think about what happens when there is a weather warning issued in your area. For instance, in New England, when a major snowstorm was forecasted, people went to the grocery store only to find no bread, toilet paper, bottled water, candles, etc. These items were missing because many people rushed to the stores and bought them because they did not want to take the chance of running out during a storm.

Let’s apply this thinking to our business.

A mono-line customer can be approached in this way: “Many of our customers take advantage of our multiple Specialty Premium Discounts when they have both auto and home insurance with us. Would you like to hear more about how we can apply these discounts to your policies?”

If you’re like many of my coaching clients, you fail to write policies for about 80–90 percent of the leads or “call ins” you receive. When prospects say no, we might end these unsuccessful calls with, “Is it OK if I check back with you in 6 months or a year?” Everyone says it is OK, but how many times do you call someone back in just a week and hear, “Who is this again, and what is this about?” Calling back in six months is seldom successful.

Instead, when you’re finished quoting and have exhausted all the reasons you have for them to switch in spite of your high rates, try this approach: “Sorry we couldn’t do business today. But you know many of our customers have checked rates with us several times before becoming our clients. Your rates may go up, ours may go down, but over time, we’ve made clients of those who checked with us several times. How would you like me to check

back with you in 6 months?”

People who tell you to just ask everyone and you’ll sell a lot of life insurance are only half right. Asking in the correct manner will get you into lots of life insurance discussions, which may lead to more sales.

But simply asking “Who handles your Life?” or “When was the last time you reviewed your Life?” usually gets you nowhere because it is so easily met with responses like, “I’m all set” or “I have it at work.”

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Asking in the correct manner will get you into lots of life insurance discussions, which may lead to more sales.

Here are some approaches you can use as you try to sell life insurance to various prospects.

A young couple who is buying homeowners insurance from you for their new home: “Most of our customers take advantage of our Specialty Mortgage Life Products for young families like yours. They help pay off the mortgage in the event of the death of one of the spouses. Would you like more information on these specialty Life policies and how they might help pay off your mortgage if one of you were to die?”

Older customers who may have grandchildren: “Most of our customers take advantage of the Specialty Life Products we offer our customers for life insurance on grandchildren. These special products not only provide for valuable protection, they also help policy owners to accumulate cash as they get older. Many grandparents tell us that these make wonderful gifts. Would you like to hear more about these specialty Life products available to you?”

Customers who have eliminated a car loan from their policy: “When they pay off their car loan, most of our customers set aside some of their monthly gain for one of our Specialty Retirement Policies that we offer our customers. Would you like to hear more?”

These are just a few of the examples you can use. So, ask everyone, but be sure to ask in a manner that leads them to believe they may be missing out on valuable opportunities that your customers are already taking advantage of.

Good luck and GREAT selling!

Ray Vendetti, CLU, ChFC, is with Vendetti Insurance Services in San Diego. He is a well-known coach, speaker and author. Contact him at 760-443-1719 or at ray@rayvendetti.com

Profitable Prospecting

Achieve your version of success by combining the key components of successful prospecting with a plan for constant action.

By Connie Kadansky

Today’s ever-changing business world means that selling is now the key differentiator. As a financial advisor, you are a seller of products and services, and it’s time to embrace that title. Daniel Pink, in his book, To Sell Is Human, defines sales as “solving people’s problems for a profit.”

I recommend that every financial advisor become a professional lead generator who happens to sell financial services. As an advisor, your number-one job is to prospect; your number-two job is to sell yourself; and your number-three job is to sell your products and services.

With this clear understanding of who you are and what you do for a living, it is time to address the following questions:

How many appointments do you strive to set per week?

The matrix below illustrates that to have new business consistently, advisors need to build their prospecting activity around a strong vision. Without a vision, there is confusion as well as a lack of direction and motivation. What is the most important piece of a puzzle? Most people say it’s the corner piece, or the last piece. In reality, it is the picture on the box.

What is your vision?

Vision is the starting point of all high performance. Whenever you create something, you do it twice—first mentally and then in actuality. The biggest barrier to high performance is mental creation because you will never

outpace your mental models. Vision creates ownership. When you have a strong vision, you are driven toward that vision and remain focused on it.

What are your skills?

In addition to having a vision, you need skills to prospect. You need technical skills to craft a 2017 prospecting script that is outwardly focused—around engaging prospects in a way that allows you to discover how much personal attention your prospects give to managing their financial well-being. You also need emotional skills to prospect consistently with enthusiasm and warmth so that you create trust with your prospects. And ultimately, you need the emotional capacity to be resilient and detached from the outcome.

An emotionally resilient financial advisor knows that they can only control their own activity—they cannot control their prospect. They can influence their prospect, but they cannot control them. When a financial advisor lacks the skills to prospect consistently, they typically have anxiety that can paralyze their new businessdevelopment intentions.

What are your incentives?

The incentives for landing new business go beyond income. Certainly, income is a powerful motivation that a certain amount of assets under management will bring in a nice amount of income.

Incentives beyond income include how your efforts impact people and bring value to their lives. When a client retains you as their advisor, you feel connected to that client, and your relationship with him becomes part of the incentive. An unspoken incentive in many cases is the impact your work has on your clients’ families and businesses.

How deep are your resources?

It takes resources to profitably prospect. When an advisor lacks resources, they can easily become frustrated. Resources include everything needed to be effective, such as a contact-management system, a list of prospects and appropriate time to prospect. This can be a challenge for some; however, with genuine introspection and by employing your problem-solving skills, you can begin to build a consistent flow of prospects. Opportunities are everywhere.

Resources for effective prospecting include a good list of prospects, an effective tool for managing conversations, and the time to do it effectively.

A CRM will ensure you don’t lose track of any real opportunity. CRMs keep your tasks organized and provide reminders of past conversations. They have the added advantage of allowing you to figure out what activity leads to what revenue and in what timeframe. Product knowledge is a resource, and expanding that knowledge is wise. Lastly, a playbook that includes 2017 scripting allows you to develop the best approaches for diverse scenarios.

What is your action plan?

Most advisors admit that an action plan is what is missing in their prospecting equation. They start out with good intentions that tend to go by the wayside with the first phone call.

A written action plan holds you accountable to perform. It means being willing to be measured, whether you like it or not, and allows you to know with certainty where you are and what you have. Those who are trying to succeed without an action plan do not know what it takes to win.

To have an action plan, one must again have vision. Without vision, there is no consistency, motivation or direction.

Written plans are the ones that work, starting with designing your ideal work week by accounting for every hour and every minute of every work day.

Begin by writing down your high-value activities, such as appointment- setting time (prospecting),

case preparation, client review, team meetings, continuing education, study, business reading, training, managing inbound calls, emails, exercise, volunteering, networking, client meetings, succession planning and administration.

Planning is about imagining the future and reducing it to paper with action steps, due dates and, ideally, accountability. The power of a good plan is that it pulls you through distractions and resistance and leads you toward what you really want. The reason you don’t currently have what you want, even though you may have originally set out on a clear path, is that you ran into your own resistance to achieving it. A plan lets you know where you run off the rails and keeps you focused on your high-value activities.

How effective is your process control?

Process control comes from knowing which activity leads to what amount of revenue and when it comes in. For example, prospecting will return revenue at a certain rate, marketing at another. Process control tells us the most effective use of our time. The only way to know whether cold calling, networking or any other method of finding new opportunities is the most effective is to track it in any standard CRM.

The gift in this is that it gives you the power to release the deals, projects and prospects that you hope will work out but never do. Start qualifying prospects as you become aware of them, and decide quickly whether to pursue them. Applying qualifications enables you to keep your prospecting moving.

Regardless of your lead-generation process, eat it like a whale eats: Take big chunks and spit out everything that doesn’t express interest. Do whatever it takes to create qualifications and apply them to each prospect. This kind of critical strategic planning is necessary if you are to achieve your goals. Train yourself to create an ideal work-week visual that includes only actions that are strategic and critical in nature. Email me for a sample template at connie@exceptionalsales.com

“What gets measured gets done”

Attributed to many people, the above statement could not be more essential to your prospecting success. Measurement drives your action plan. This is where a daily scoring system comes into play. Many may scoff at this because they first encountered it during training; however, daily measurements keep successful advisors focused and magnetized toward their vision.

Regularly measuring activity makes many people uncomfortable. How likely are you to jump on the scale after you’ve binged on chocolate cake and ice cream? We let the fear of a setback make us emotionally incapable of looking at the numbers. However, numbers are what this business is all about. For a scorecard designed to measure high-value activities for financial advisors, email me at connie@exceptionalsales.com.

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A plan lets you know where you run off the rails and keeps you focused on your highvalue activities

How are you using your time?

Time is a finite resource, and poor time management distracts many financial advisors. When it comes down to it, time management is really self-management. Most performance experts advise you to time-block in order to take control of your day. Strategic blocks should consist of three hours of focused attention on your business. This is where you define the specifics that help you make the right choices and get the opportunities you desire.

Identify your top priorities and plan your week, including all the activities for the week. Block out prospecting time on a daily and or a weekly basis. Make at least two to five prospecting calls per day to get into the rhythm. Buffer blocks are designed to deal with lower-level activities like checking email messages, answering phone calls and performing administrative tasks.

The authors of “The 12-Week Year” recommend breakout blocks designed to prevent burnout and create more free time. What would you do for three hours a week during your work-week if you could do whatever you wanted? Watch your creativity soar when you unplug from work and enjoy your personal time. Make sure this happens by scheduling it.

StrategicCoach.com recommends disengaging from any work activity, including emails, reading or talking about work, from midnight Friday night to midnight Saturday night, or midnight Saturday night to midnight Sunday night. When you do this, notice how much more you enjoy your Mondays and how fresh you show up for work.

Once you learn to master the components of profitable prospecting and couple them with a plan for constant action and execution, you will be shocked to discover how easy it is to achieve your personal definition of success.

Connie Kadansky is a coach and speaker specializing in overcoming sales call reluctance. She offers effective tools and training to diagnose call reluctance and assists salespeople in highly profitable prospecting. For more information, contact her at (602) 9971101 or visit www.exceptionalsales.com.

Silencing Those Negative Voices

Take the steps outlined in this article to banish self-doubt and move your career forward.

By Juli McNeely, CFP, LUTCF, CLU

No matter if we are brand new in the business or seasoned advisors, many of us still struggle with silencing those negative voices we sometimes hear in our head. With the nature of what we do and all the changes we are experiencing in our industry, it’s a given that we will, at times, struggle with self-doubt. This is particularly true for many advisors early in their careers. Many find themselves frozen and unable to believe that they will ever master their new profession. However even more seasoned advisors are forced to learn new methods, products and service models all the time. The not-so-fun news is that change and learning do not stop, but how you face these new challenges matters.

I’d like to offer some suggestions for silencing those negative voices:

Get out there!

Many times, it is simply a matter of just doing it. Peter Zarlenga says, “Action conquers fear!” Stepping forward even in small steps is better than doing nothing at all. Without question, there’s a benefit in diving in and growing as you go.

Find a motivator

What motivates you? For me, it was, and still is, quotes. I have them engrained in my brain and strategically placed in my space to motivate me. For some, music inspires them. For others is it finding a mentor or learning more about an inspirational person. No matter what your motivator is, immerse yourself in it. At times when you are down, the motivator will be very helpful in pulling you through!

Look for leadership opportunities

My involvement in NAIFA and other volunteer community organizations helped me grow my confidence and build leadership skills. These newly found skills served me quite well personally and professionally and they often provided me with new prospects to serve—a win/win situation. You receive when you give of your time and talents.

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Just the act of vocalizing your thoughts makes you realize how wrong that negative voice is.

Check your negative voice

Try to find a friend or family member you trust completely to share the negative noise with. You will be shocked to learn how often the negative voice is completely off base. Having someone point that out to you is just what you need to hear. Sometimes, just the act of vocalizing your thoughts makes you realize how wrong that negative voice is. So why do we listen to it? Make it a point to share your internal dialogue before you choose to believe it.

Use your strengths

Determine as quickly as you can what your strengths are so that you can play to them. Finding success by using your strengths will by default build your confidence. Why would we set ourselves up for failure by trying to do everything? The sooner you can hire to your weaknesses or team up with someone who will help fill those gaps, the better.

Sometimes it’s an inside job!

There will simply be times when you will need to get inside your own head and start to believe that you are capable of finding success beyond your imagination. No one else can make you successful. You will need to dig deeply at times and find a whole new gear to shift into—all on your own. It we are so quick to listen to our negative voice; why are we not as quick to listen to our positive one?

It is an exciting time to be in financial services. As I always say, fasten your seatbelt and let’s do this thing. We have incredible opportunities in which to find an extremely rewarding profession.

I wish you great success in your search!

A 21-year veteran of the financial-services industry, Juli McNeely, LUTCF, CFP, CLU, is president of McNeely Financial Services in Wisconsin. She is past president of the National Association of Insurance and Financial Advisors, having served as the 126-yearold institution’s first female president. She is also a member of MDRT. You can reach her at juli@mcneelyfinancial.com.

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