NAIFA's Advisor Today May/June 2020 Edition

NAIFA NATION UNITES DURING COVID-19

NAIFA’s Advisor Today Editor-in-Chief

Ayo Mseka amseka@naifa.org

703-770-8204

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 VP, Professional Credentials jboyle@naifa.org

703-770-8267

Suzanne Carawan VP, Marketing & Communications scarawan@naifa.org

703-770-8402

Judi Carsrud

AVP, Government Relations

703-770-8155 jcarsrud@naifa.org

Jennifer Cassidy VP, Finance jcassidy@naifa.org

703-770-8125

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

Alaina Faiello VP, Professional Development afaiello@naifa.org

703-770-8225

NAIFA OFFICERS

*President Cammie Scott, LUTCF, REBC, RHU, CLTC CK Harp & Associates

Cammie@ckharp.com

*President-Elect

Thomas O. Michel, LACP Michel Financial Group tmichel@michelfinancial.com

*Secretary Lawrence Holzberg, LACP Wealth Advisory Group, LLC Lawrence_holzberg@wagllc.com

*Treasurer

Brock Jolly, CFP, CLU, ChFC, CLTC. CFBS Veritas Financial LLC/MassMutual Financial Group jbjolly@financialguide.com

*Immediate Past President Jill Judd, LUTCF State Farm Jill.judd.jyro@statefarm.com

NAIFA CEO Kevin Mayeux, CAE kmayeux@naifa.org

Trustees

*Mark Acre

*Dennis Cuccinelli, LACP dennis@dcuccinelli.com

*Connie Golleher, CLTC, LUTCF connie@gollehergroup.com

*Stephen Good, LUTCF CLTC, CFBS stephengood@ohionational.com

*Win Havir, CPCU, CLF, LUTCF, FSS, AIC Winona.Havir@horacemann.com

*Bryon Holz, CLU, ChFC, LUTCF, LACP bryon@bryonholz.com

*Beth Jones, CIC bjones@dystewilliams.com

*Delvin Joyce delvinjoyce@prudential.com

*Ryan Pinney, LACP rpinney@pinneyinsurance.com

*Stephanie Rivas, MBA, CLU, ChFC, LUTCF stephanie.rivas@prudential.com

*Steve Saladino, LUTCF saladino@verizon.net

*John Wheeler, Jr., CFP, CLU, ChFC, CRPC, LUTCF obfsinc@aol.com

*Brian Wilson brianwilson@mutualofomaha.com

NAIFA SERVICE CORPORATION

OFFICERS AND DIRECTORS

President

Kevin Mayeux, CAE

Secretary Cammie Scott CK Harp & Associates

Treasurer

Brock Jolly, CFP, CLU, ChFC, CLT, CFBS Veritas Financial LLC/MassMutual Financial Group

Directors

David Beaty

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

5950 Northwest 1st Place

Gainesville, FL 32607

Phone: 800-369-6220 Fax: 352-331-3525

Web: www.naylor.com

Publisher: Tamára Perry-Lunardo

Editor: Adam Turner

Project Manager: Michelle Hughes

Publication Director: Mark Ragland

Sales Representative: Lou Brandow

Marketing: Kiara Reynoso

Project Coordinator: Alyssa Woods

Layout: Deb Churchill

Published May 2020/NAI-S0320/4989

©2020 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. ©2020 National Association of Insurance and Financial Advisors Service Corporation. All rights reserved.

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

Cover: ISTOCK.COM/Z_WEI

Bouncing Back

Take these steps now to bounce back from whatever setback you have experienced.

Ayo Mseka

The past few weeks have been challenging for all of us as we did our best to manage the devastating impact of the coronavirus pandemic.

As an agent or advisor, you have had to stay calm and rely on the power of resilience to keep going as you helped families, colleagues and clients cope with whatever crises they were facing. For help in this arena, many of you turned to the NAIFA website, which features a wide range of critical resources, including timely updates on COVID-19, critical insights for dealing with the impact of the virus by NAIFA members and industry experts, as well as the latest information from thought leaders, policy makers, legislators and regulators.

Now, as we slowly begin to see the light at the end of the tunnel, we still have to keep our spirits up so that we can continue to help families regain hope, rebuild lives and get back to the task of securing a sound financial future.

FLEXING OUR RESILIENCE MUSCLES

So, how do we flex our resilience muscles and bounce back after a setback? The five S.T.E.P.S. below by motivational speaker and coach, Toni Harris Taylor, will help you come back from whatever setback you have experienced.

1. Show up. One of the best ways to build resilience is to keep showing up, even when you are having a difficult time and you don’t feel like doing so. Showing up helps to distract you from your problems and allows you to shift your focus. Showing up is also a motivator to others who may know that you are dealing with difficult life circumstances and see that you are continuing to show up, no matter what. In turn, pushing forward over obstacles is a great way to build resilience muscles and help you to stay focused.

2. Talk to yourself. Positive self-talk is a great way to push yourself when times are tough. You may have to talk yourself into moving forward. Part of talking to yourself is filling your mind with positive motivation to maintain a positive attitude. When I was a financial advisor, I drove 36,000 miles my first year in the business. I used the time

wisely to feed my mind and maintain a positive attitude through a very difficult situation. Sometimes, we have to kick ourselves into gear, and developing an attitude of positivity will go a long way to help us bounce back.

3. Eliminate excuses. “If you really want something, you’ll find a way. If not, you’ll find an excuse.” What a powerful and true statement! If you want to build your resilience muscles, you must find a way to eliminate potential excuses and cop-outs in your life. Delegate and say no to some requests to free yourself from extra responsibilities.

Developing

4. Persevere. I have a client who is a top financial advisor in his company. One day, he woke up feeling dizzy and unable to walk in a straight line. His diagnosis was vertigo. It affected him personally and professionally. Yet, at the end of that year, he was able to excel, and he produced his highest grossing year. When I asked him the key to his success, he stated that it was his desire to persevere and not to quit. He thought about quitting and he felt sorry for himself (which he admits he did for a brief time), but his coaches, management and family pushed him to keep moving despite the illness. He resolved to do just that and remains a top producer today.

5. Find support. You cannot be successful on your own. Everybody needs support and help. The key is to ask for help when you are bouncing back from a setback. Who is in your corner? Who supports you when you are not feeling worthy and up to yourself? My client, mentioned above, asked for help from his assistant who drove him to appointments, from his management, and from his coaches who helped him not to feel sorry for himself and to get out of his own way.

If you keep on stepping when life’s challenges appear, Taylor advises, you will be successful, no matter what!

an attitude of positivity will go a long way to help us bounce back.

During a Crisis, You’re There for Your Clients, and NAIFA is Here for You

By Kevin Mayeux, CAE

Times of uncertainty and crisis shine a spotlight on the important roles insurance and financial services professionals play in protecting the financial security of 90 million American families. You provide the products, services and guidance that have helped many of these families through the COVID-19 outbreak.

Your work with clients ensures they have long-term plans, so their ultimate goals are not easily derailed, even by extreme volatility in the financial markets. You helped them establish emergency funds so they might endure a temporary loss of income or another financial setback. You provide health plans and limited and extended care options that have been crucial to so many Americans during this time. You have given them the ability to leave a legacy, so they can rest assured that their loved ones have a financially secure future, even when the present may be uncertain.

Above all else, you are providing your clients with the guidance and reassurance they need to navigate a very difficult time in their lives and help our country through a challenging time in history. As difficult as things have been, the situation would have been worse for millions of Americans if not for your efforts. We all owe you a debt of gratitude.

NAIFA IS HERE FOR YOU

The COVID-19 outbreak has also spotlighted the important work NAIFA does for the agent and advisor community. We approached this crisis with the determination to keep our members well informed and connected. We quickly established a resources toolkit with frequently updated information, including guidance from public health officials, tips for running a business and operating remotely during the pandemic, and updates on legislative and regulatory developments.

But NAIFA did not merely report on the actions of our government to address COVID-19’s impacts. Using our established advocacy influence and the prestige of our 130 years of success, we worked with lawmakers to help shape the response. We advocated for small business loans, relief from payroll taxes and greater flexibility for workers to access retirement plan funds, and all of these measures became part of the federal $2 trillion relief package. As always, we were working in your interest with state lawmakers and regulators, as well.

We also kept NAIFA members connected with each other and their professional association. Our online town hall meetings have provided an outlet for members to see each other and interact using Zoom teleconferencing technology. They have provided presentations from some of the leaders of our association and top producers in our industry who shared insights into how they and their practices are dealing with the COVID-19 outbreak while continuing to thrive professionally, recognizing opportunities, and serving the best interests of their clients and consumers.

We have adapted by making our NAIFA Live meetings and Big Ideas presentations completely virtual. Later this month, from May 19 to May 21, we will host NAIFA Nation Impact Week. Each day will feature virtual programs for agents and advisors, including a diversity and inclusion symposium, a legislative briefing, and messages from industry leaders and members of Congress.

Insurance and financial professionals make a real difference in their clients’ lives every day, bolstering their financial literacy, helping them mitigate life’s risks, preparing them for retirement and setting them up to leave legacies behind for future generations. During normal times, these efforts may almost escape our notice, only to become apparent in times of need.

The same may be said of your professional association. NAIFA is always here, working to protect your interests and those of consumers who rely on you, providing you access to top educational and professional development opportunities, and helping you network with the best in the business. But at a time of crisis, our work becomes even more apparent.

In good times and bad, I want to assure you that NAIFA has your back, and together, we can take on anything.

Kevin Mayeux, CAE, is CEO of NAIFA. Contact him at kmayeux@naifa.org.

Ensuring Your Professional Success

NAIFA is working hard to create positive outcomes for you and your clients, even as we help you navigate the impact of COVID-19.

By Cammie Scott, LUTCF, REBC, RHU, CLTC, MSIE, ChHC, SHRM-SCP, SPHR

During the past few weeks, all of us have focused our attention on helping families, communities and clients deal with the challenges created by COVID-19. NAIFA’s resources on managing the impact of this unprecedented pandemic have proven invaluable to everyone going through these troubling times.

But even as we work hard to help you weather the storm, we are still moving full steam ahead with the execution of one of our most important initiatives — completing the final year on our 20/20 Strategic Plan.

Our laser-like focus on implementing this plan has helped us score major victories. Among the most recent are:

1. Membership Growth — NAIFA is recruiting significant numbers of new members, and former members are re-joining the association. For the first time in many years, we have also had true total paid membership growth during the month of February, a historically slow month. And so far this year, 21 state and local chapters have increased their membership numbers. With COVID-19, we are positioning ourselves as an even more critical community to which to belong and have held town hall meetings to provide support and great content to the industry.

2. State Advocacy Wins — NAIFA and the American Council of Life Insurers are producing major key wins in state capitals nationwide. In Massachusetts, for example, we dramatically changed the state’s fiduciary proposal, and we fought back state-run private retirement plans. We also helped pass critical elder financial protections.

3. NAIFA Nation Impact Week — This year’s Congressional Conference cannot be held as the hotel has closed its doors until June. We quickly re-imagined the event and have turned May 19-21 into “Nation: Impact Week.” We will hold our Diversity Symposium on May 19, our Advocacy in Action Day on May 20 and a Leadership Day on May 21 to provide you with a platform for developing the skills you need to manage your practice through challenging times. All events are free and are open to any agent or advisor as a way of showing that NAIFA is giving back to the industry. Learn more about this exciting event at https://belong. naifa.org/impact

4. New Brand for NAIFA — We have officially launched our new look and feel for NAIFA. Our new public, members and leaders sites are now live, along with online communities and improved profile and directory functionality. If you haven’t visited NAIFA, we encourage you to do so. You will also note that you will receive emails with a fresh, new look!

5. FinancialSecurity.org — We launched a consumer-facing site that addresses the need for everyday Americans to be financially prepared for the future. The site tells our story from Main Streets in America, with perspectives from individual NAIFA members and advisors. Contact Suzanne Carawan at scarawan@naifa.org if you’d like to share your story.

6. New Alliance Formed — NAIFA and Life Happens have joined forces to form the Financial Security Alliance. This group will be a resource for the general public, teaching them about the good work that the industry, the profession, our products and our services do for the society. We will also provide educational tools and videos that emphasize the importance of insurance in a sound financial plan.

7. FEMA National Business Emergency Operations Center — NAIFA is part of this group, whose focus is on helping American businesses continue to operate in the face of mounting pressures from the coronavirus pandemic. NAIFA is monitoring the situation and actively working with the White House and various federal agencies to best protect our members. Visit media.naifa.org and social media outlets for the latest updates.

8. Performance + Purpose Conference. The schedule is set for this premier educational event for agents and advisors. NAIFA was formed in Boston, and we are returning there this year to celebrate our 130th anniversary. Join us from Oct. 1 to Oct. 4 for this time of learning, networking and celebration. For more information, visit conference.naifa.org.

In spite of the challenges created by COVID-19, great things are happening at NAIFA. By working together and exhibiting the traits of endurance and strength, we will continue to build a culture of success that positions you and your clients for a bright and promising future.

Cammie Scott, MSIE, ChHC, CLTC, LUTCF, REBC, RHU, SHRMSCP, SPHR, is president of NAIFA and president of CK Harp and Associates in Springdale, Arkansas. Contact her at cammiescott@ ckharp.com.

A Closer Look at Regulation Best Interest for Registered Representatives of Broker-Dealers

The regulation provides Registered Reps of Broker Dealers in NAIFA the opportunity to again distinguish the ethical and professional value of their work and their professional association.

By Frank Bearden, Ph.D., CLU, ChFC

In the last column, we discussed the SEC Regulation Best Interest and the change from a suitability standard to a best interest standard for broker-dealers and their registered representatives.

In this column, I thought it might be useful to look at how Regulation Best Interest relates to making a recommendation to a client (retail customer) as this is a practice that registered representatives regularly implement. The wording for this practice from SEC.gov/ Regulation Best Interest goes like this:

When making such a recommendation to a retail customer, you must act in the best interest of the retail customer at the time the recommendation is made, without placing your financial or other interests ahead of the retail customer’s interests.

The second obligation requires the registered rep to use diligence, care, and skill in making a recommendation to a client.

THE OBLIGATIONS

This requirement or General Obligation has two component obligations. The first component obligation, known as the Disclosure Obligation, requires the registered representative to provide specific elements of disclosure before or during the recommendation. The Disclosure Obligation requires the registered representative to provide to a client (retail customer), in writing, fair disclosure of:

o all material facts that relate to the scope and terms of the relationship with the retail customer, and

o all material facts related to conflicts of interest that are associated with the recommendation (SEC.gov/Regulation Best Interest).

The second obligation is known as the Care Obligation and requires the registered representative to use diligence, care and skill in making a recommendation to a client (retail customer) to:

1. understand potential risks, rewards and costs associated with the recommendation, and have a reasonable basis to believe that the recommendation could be in the best interest of at least some retail customers;

2. have a reasonable basis to believe the recommendation is in the best interest of a particular retail customer based on that retail customer’s investment profile and the potential risks, rewards and costs associated with the recommendation and does not place the interest of the broker-dealer ahead of the interest of the retail customer; and

3. have a reasonable basis to believe that a series of recommended transactions, even if in the retail customer’s best interest when viewed in isolation, is not excessive and is in the retail customer’s best interest when taken together in light of the retail customer’s investment profile (SEC.gov/Regulation Best Interest). .

This new regulation does impose upon Registered Representatives of Broker Dealers the responsibility of reading and understanding how the regulation applies to their clients. This may involve reviewing the material provided by the SEC and their broker dealers.

In addition, during this exciting time in the history of NAIFA, Regulation Best Interest also provides the Registered Representatives of Broker Dealers in NAIFA the opportunity to again distinguish the ethical and professional value of their work and the professional association to which we belong.

HOW TO KEEP ON PROSPECTING

Here are a few insights to keep in mind as you work hard to keep your prospecting pipeline full — no matter the challenges you might be facing.

By Connie Kadansky, MCC

While you may be tempted to put prospecting on hold during a crisis, that would be a mistake. Advisors who continue to prospect and engage in more empathetic conversations with their prospects have a better chance of solving their problems than those who don’t.

Selling is solving peoples’ problems for a profit. The time is now to monetize your expertise and manage your visibility in the marketplace. Now more than ever, you are positioned to provide desperately needed solutions to your clients and prospects.

• Be honest with yourself. Are you getting in front of qualified prospects consistently and comfortably? Many salespeople want to hide and deny their call reluctance. Admitting that you experience emotional hesitation to proactively prospect is critical to overcoming the internal struggle you have initiating contact with prospects. Remember that admission usually leads to solution.

• How are you relating to the experience of prospecting? Our insecurities and self-protection strategies are rooted in a deep sense of incompleteness. We don’t feel we are quite capable yet. Listen to the questions you ask yourself that send you down the self-doubt spiral, such as: “What if I annoy them by calling them?” Get rid of that question and ask yourself instead: “What if I step into the mystery?”

The ideas expressed in this article will help you confront your fears about prospecting and keep you laser-focused on this important task.

ANDRII YALANSKYI/SHUTTERSTOCK.COM

There is always uncertainty when we prospect. Uncertainty fuels anxiety and anxiety leads to distress, which stimulates fear. Fear then creates doubt, which wastes energy.

Instead of being uncertain, develop a curiosity mindset. You will quickly notice how much easier prospecting will become. This is because curiosity turns doubt into fuel for learning and discovering. It is the secret ingredient that makes prospecting an adventure.

• Take a minute to consider this fact: The majority of prospects need to be disrupted and challenged to wake up to their reality. They are not fully insured. They don’t have a plan in place. They have not started saving for their children’s college education. They are not thinking about their future. They don’t have long-term care insurance. To put it bluntly: We all need to wake up!

• Be prepared when a prospect tells you they already have an advisor. Have a question ready that interrupts their reflexive pattern, such as:

“I understand. If your current advisor could do one thing better, what would it be?”

If they tell you that they are not interested, you can respond by saying: “I see. When was the last time you reviewed your financial plan to see if changes need to be made?” The idea is to become comfortable with using these reflexive pattern interruptions.

• Experience prospecting as a mystery, and step into the mystery with enthusiasm and courage!

• Whenever you are prospecting, say to yourself: “This is not about me.” What do you notice when you say this?

• Before you prospect, center yourself. Many advisors believe that the purpose of their bodies is to carry their head around. Prospecting is a full-body experience. Centering helps you stay calm and grounded and become more present and coherent.

Consider yourself the chief disruptor who causes them to be honest about their current reality and articulate their desired result. Strategic and thoughtful questions help prospects confront their reality. How comfortable can you get in your role as chief disruptor?

• Fear is possible only when you don’t feel connected to your sense of worth. What is the value you provide to your prospects? Do you know with every fiber of your body that you have value? What is your worth? What do you contribute?

• Refer to your prospecting time as “appointment setting time.” Focus on the outcome you want. Prospecting is not a sales conversation; instead, it is discovering whether the prospect has personal attention and focus on what you provide and if they are open to meeting with you.

• Without an emotional connec tion to the why behind what you are doing, consistent prospecting is not sustainable. Create and maintain a compelling vision for your future. Without a compelling vision, you will discover that there is no reason to push yourself out of your current reality. Vision creates ownership. Creating a vision is a process of cultivation and actualization of the behavior and characteristics that lead you to courage, knowledge, inspiration, energy, endurance, fearlessness and persistence. A vision symbolizes a higher reality and is evidence of the possibility of gaining a higher level of achievement.

To center yourself, stand up, take a deep breath and put a smile on your face. Then, say to yourself: “I have legs and feet. I have arms and hands. I have a head and a neck.” Get fully conscious in your body — you cannot think your way out of your call reluctance.

• Make sure you have a process for conducting the sales conversation by addressing the following questions:

1) What is your prospect’s desired result?

2) What has prevented them from achieving this result?

3) What is at stake if nothing changes? (This is a question that is a disruptor. It creates tension!)

4) What is your prospect’s sense of urgency?

5) What is the next step? My clients ecstatically report the positive results they achieve when they follow this organic and unfolding process.

Take the complimentary Prospecting EKG to measure your call reluctance. https://www.exceptionalsales.com/ services/workshop-training/your-prospecting-ekgcomplimentary/

Connie Kadansky, MCC, Sales Call Reluctance coach, helps salespeople get their ASK in gear. She has spoken at MDRT’s Global Meeting and at NAIFA’s Performance +Purpose Conference . www.exceptionalsales.com; www.roadmaptorevenuemastermind.com

Without an emotional connection to the why behind what you are doing, consistent prospecting is not sustainable.

MEMBERS CONGRATULATE NAIFA ON 130TH ANNIVERSARY!

By Brian Haney and

As NAIFA celebrates its 130th year, NAIFA members are taking time from their busy schedules to share why they joined NAIFA, what the association has done for them, and their plans for celebrating this important milestone. In this interview, we get to hear from Brian Haney and Ike Totter, two members for whom NAIFA is making a difference.

Advisor Today: Why did you join NAIFA?

Brian Haney: I became a NAIFA member because my dear friend and mentor, Ken VanValkenburgh, told me that if I wanted to really grow as a professional, I needed to “get connected and involved.”

That was a little over 10 years ago, and it has proven to be some of the best advice I’ve received. NAIFA is an organization uniquely dedicated to making the financial industry better in every respect. Its values are my values.

As a member, I feel there is no close second to the rich relationships NAIFA membership offers, the exceptional leadership development it provides, and there’s also no one else I want in my corner representing me in the legislative arena. NAIFA has given me so much, and I know without a doubt I am a better professional and person who is living a richer life as a result.

Ike Trotter: I joined NAIFA in my first year in the business. I had actually gone to our annual NAIFA Mississippi state conference on the Mississippi Gulf Coast in June of 1975 as a guest of my father, who brought me into the business.

While there, I was called upon to play tennis as the doubles partner to then NAIFA national president Bob Forker, who was the featured speaker for this conference. He obviously made quite an impression on me, and I joined NAIFA at that conference and have been a loyal member now for 45 years!

“Thanks for your decades of hard work and significant accomplishments. Can’t wait for the next 130 years!”

AT: How has NAIFA helped you advance in your career?

Haney: NAIFA has helped me in perhaps every aspect of my practice. NAIFA has delivered exceptional value for me in three other key areas:

1) It has made me a better leader, through things like LILI and being a board member locally along with the volunteer roles nationally and regular participation in NAIFA events.

2) It has helped me be a better professional — NAIFA has supported my professional development with valuable education and professional designations, like the LACP, that allow me to improve my professional aptitude while standing out among my peers. NAIFA has helped me market and distinguish myself through its wonderful award & recognition programs, as I have been fortunate to be a routine NAIFA Quality award recipient, a 4 under 40 winner, and a NAIFA National Diversity Award Champion, all humbling achievements not possible without my NAIFA involvement and the support it has given me for years.

3) It has made me a better person. As trite as it seems sometimes when I say this: “NAIFA feels like an extended family.” The relationships I have in NAIFA are with some

They are proud to belong to NAIFA, which has made them better professionals and better leaders.

Ike Trotter

— Brian Haney

of the best people I know, people who I deeply admire and respect, and people who have been there for me over the years in good times and in bad. My time spent with them has raised the bar for me and will keep it raised as long as they let me be a member!

“I’m not sure if I could have survived as a young person in our industry without the tutelage and support of NAIFA.” — Ike Trotter

Trotter: Quite frankly, I’m not sure if I could have survived as a young person in our industry without the tutelage and support of NAIFA. The professionalism, the camaraderie and the leadership opportunities have all been just tremendous.

NAIFA was also instrumental in furthering my career development with related organizations like MDRT, The Society of FSP and The American College. NAIFA is certainly a home run for career development in the financial-services business.

AT: Any congratulatory messages for NAIFA as it celebrates its 130th anniversary?

Haney: NAIFA, you have embodied excellence for our profession, perseverance through waves of change and you continue to point us forward towards a brighter future.

Thanks for your decades of hard work and significant accomplishments. Can’t wait for the next 130 years!

Trotter: Thanks to you, NAIFA, I have enjoyed a wonderful career!

AT: What are your plans for celebrating this important anniversary?

Haney: I plan on attending as many NAIFA events as I can this year. From the NAIFA Nation Impact Week in May to one of my favorite conferences each year, Performance + Purpose in October, along with dozens of local and regional ones throughout the year. I would encourage members not to celebrate this alone — go out and lock arms with colleagues and peers as we keep this industry going and growing!

Trotter : I look forward to attending NAIFA P+P in Boston and being part of the best career conference in our industry!

Brian Haney, CLTC, CFBS, CFS, CIS, LACP, CAE, is vice president of The Haney Company in Silver Spring, Md. Contact him at bhaney@ thehaneycompany.com

Ike Trotter is with Ike Trotter Agency, LLC, in Greenville, MS. Contact him at iketrotter@tecinfo.net.

WHY YOU NEED TO TELL YOUR ‘WHY’ STORY

Doing so allows prospects and clients to see you as the obvious choice — not a commodity.

By Deirdre Van Nest

When you speak before a group or meet with a prospect, your audience is immediately assessing if they like you, if they can trust you or if they want to work with you. You could explain why you’re the obvious choice with facts, figures and credentials, but the most powerful way to connect with your audience is to show them you’re the obvious choice by telling them a compelling “why” story.

A “why” story shows why you care about the topic you are speaking about, and more importantly, it shows why you care about helping your listeners get great results with the advice and services you offer.

Think about speeches or presentations you heard years ago and still remember. Chances are that the people who

made those presentations were gifted storytellers who brought main points to life by telling memorable stories.

Cognitive psychologist Jerome Bruner suggests that we are 22 times more likely to remember a fact when it has been wrapped in a story than when it is not.

I can tell you from personal experience that storytelling will strengthen your communications with your team, prospects, clients and everyone else. People won’t remember facts and figures after a while, but they will remember a compelling story that explains why you care about a certain topic.

As a financial advisor, you know that people often buy on emotions first, and then back that decision up with logic. So why do so many advisors continue to use language that is technical and filled with jargon that prospects and clients don’t understand? This needs to change. If we’re going to truly serve the modern consumer, we need to start speaking to them in a way that appeals to their emotions and inspires them to take action to get their financial house in order.

Advisors often tell me: “But I have so much information to pack into a half-hour presentation. I can’t possibly add any stories.” But if your presentation is packed with facts and figures, how much of that information will people really remember? Not much, and they certainly won’t feel it. That means they aren’t likely to take action after you have completed your presentation.

I guarantee that you will make a bigger impact on your audience if you give them a few facts and weave in compelling and memorable stories, especially stories that demonstrate the powerful “why” behind your interest in the topic and your desire to help them.

MY “WHY” STORY

In many of my presentations, I tell a “why” story to convey why I am passionately committed to working with financial advisors to become skilled, “Crazy Good” speakers. My story is about the tragic car accident that took my mom’s life when she was just 32 years old and seriously injured my father. I was 10 when it happened.

It takes me four minutes to tell this story. I often conduct an exercise in training sessions to show the impact this story has on my ability to connect with advisors and build trust with them. I ask them to score how much they like, connect and trust me before they hear my story about my parents, and to score me again after hearing it. In every case, they give me higher scores on likability, trust and connection after they heard my personal story. I am able to increase connection, trust and likability in four minutes, and you can, too.

When I ask them why, they say my story hit them emotionally. It enabled them to see why I am involved in their industry. I am no longer just a businessperson standing up there on a stage. When I tell my personal “why” story, people see that a tragedy from my own life has motivated me to help them work with their clients. They see that I genuinely care — and why. I could tell people I care, but it wouldn’t have the same impact as showing them I care by sharing a deeply personal story.

I didn’t realize the power of my personal “why” story during the first 10 years of my career. During that time, I was doing great and having fun. Clients I worked with were seeing positive results from my training, but I always felt like something was missing.

Over time, I realized that what was missing was me . I would get up on a stage and give people great content, but I wasn’t giving them my heart. I wasn’t sharing my humanity. I was too busy trying to prove myself when what I really needed was to just be myself.

I thought no one cared about the “vessel” that was delivering the content. Instead, I thought people just wanted the facts and the content. It started to bother me, and I decided I needed to start telling my audience why I cared and why I was speaking to them.

I experienced the true power of this epiphany — this shift in my mindset — on Jan. 11, 2017. I was leading an advisor training session in Minneapolis. I told the story about my mom and dad for the first time, and I was terrified. I didn’t know how the participants were going to react. As soon as I finished my story, an advisor said: “I just want you to know that you have so much credibility with me right now. I trust you.” Another advisor said: “You get us. Thank you for understanding what we do and for caring.”

Afterwards, people started hugging me. The next day, when I went to talk with the general agent, I was still getting hugs. I realized then that advisors really did care about the “why,” the intention, and the heart behind the person who was delivering the content.

From that point forward, my career began to skyrocket. My speaking fees went up, and I was more in demand as a speaker and coach. I began to teach my private advisor clients how to craft and share their “why” stories, and they started experiencing the same thing.

You can use this same strategy in your business because your teams, prospects and clients care about your why too. If you want to be seen as the obvious choice to your clients and prospects, you must tell “why” stories.

CRAFTING YOUR STORY

Here’s a high-level overview of what to focus on as you craft your story:

• Paint a vivid picture for your audience by using words effectively.

• Describe a specific scenario using sensory details. Describe sights, sounds, smells and feelings.

In my story, you’ll notice that I painted a picture, and most likely, you were able to see the scene. Remember the acronym VAKS. It stands for visual, auditory, kinesthetic (or feeling) and smell. Use at least a couple of these elements to draw your audience into your story, and let them picture the scene in their minds.

• Describe the people in your story. Give a few details about them that will resonate with your audience and make them care about your characters. Remember that when your audience connects with your characters, they will connect with you.

• Focus on the central problem. Stories often get confusing when the storyteller describes multiple problems. Stick to one central problem.

• You need to focus on two types of outcomes in business storytelling. The first is wrapping everything up and explaining what ultimately happens to the characters in your story. The second is connecting your story with the content

Whatever topic you choose, have a personal “why” story that shows the depth of your care, concern and commitment.

you’re going to be talking about and why your story compels you to do the work you do.

DO IT NOW!

An exceptional speech or presentation is 90 percent preparation and 10 percent delivery. My challenge to you is to take some time now to write down your personal “why” story. Wouldn’t it be incredible to tell a story about someone you know personally who didn’t prepare for the future and lost everything? Or a story about someone you know who did prepare and avoided that tragedy?

Whatever topic you choose, have a personal “why” story that shows the depth of your care, con cern and commitment. Unless you specialize in one product, you will have different “why” stories that relate to the various topics you will be discussing and the clients you serve.

For example, if you’re a manager, you need a compelling “why” story to share with your team about why being a financial advisor is such a fulfilling career. You need a different “why” story that inspires your team to reach their goals. If you’re an advisor, you need “why” stories for prospects and “why” stories for clients.

When you are working on your next presentation, devote at least four minutes to a powerful story that captures your audience’s attention and generates strong emotions. You will have to be a bit vulnerable to let your humanity show, but it is worth it.

If you are ever tempted to leave your humanity at the door and just focus on the facts and figures, I want you to remember that the people you are speaking with really do care about the “vessel” that is delivering the message — you.

Deirdre Van Nest is the go-to expert for financial advisors on improving communication skills. She is a top rated international keynoter and the creator of the CrazyGood Talks® Blueprint and the Emotionally Engaging Advisor™, two communication systems that have taught thousands of financial advisors how to cut through the noise, bring in business faster and make quick emotional connections with prospects and clients. Learn more at www. crazygoodtalks.com/emotionallyengagingadvisor.

Grow Your Business with Life Happens Pro V3!

This platform makes it easy for agents and advisors to have a professional digital and physical footprint, with little or no time spent on marketing campaigns.

By Suzanne Carawan

Life Happens, a NAIFA partner, is working on the third-generation platform of its highly popular Pro V platform — a marketing-automation tool used by hundreds of NAIFA members to easily and professionally market their products and services. The new platform is scheduled for release this summer.

We recently caught up with Nate McGrath, AVP of Strategy & Product, to learn more about the upcoming platform and what could possibly be improved in the muchloved marketing automation tool called Life Happens Pro.

The current Life Happens Pro is designed to make it easy to undertake marketing for single shingle, small firm and multi-state insurance and financial services firms. The platform provides prewritten print materials such as flyers, as well as digital assets such as social media graphics, emails and more, to allow agents and advisors to easily deploy them for client prospecting and retention.

The platform makes it easy for agents and advisors to have a professional digital and physical footprint while spending little or no time undertaking marketing campaigns.

“The big improvement in the Life Happens Pro V3 is that compliance is built in,” McGrath explained. “One of our previous challenges was that our agents/advisors wanted to use our materials, but were prevented from doing so because they were not compliant approved. The third generation of the platform changes all of that, and we can now better serve the vast majority of insurance agents and advisors.”

Life Happens responded to COVID-19 by creating a Virtual Tool kit (https://lifehappenspro.org/virtual-successtoolkit) that includes best practices for working remotely, webinars, and tips and techniques for successful digital marketing. You can sign up to receive updates and if you’re new to digital marketing, there are many “getting started” and “101 guides” to help you.

Life Happens has extended its typical free two-week trial of the platform to a month for new users. Now, new users can use the platform for a total of six weeks for free.

Additionally, while NAIFA members have always received a discount, Life Happens has increased the discount to 20% for NAIFA members. To receive the discount code, log into the NAIFA members’ only website and access the Life Happens page under the Members>Differentiate navigation item, or call our member services team.

WORKING TOGETHER

We thank Life Happens for the work that they do and are proud to partner with the organization in our new joint effort called the Financial Security Alliance (financialsecurityalliance.org).

We are working together to increase financial literacy for consumers and to attract more people to the financial services industry.

Please show your support by signing up for Life Happens Pro and supporting the industry. All proceeds from the platform are funneled directly back into the Life Happens non-profit organization and help to create more awareness of the importance of insurance products to unprotected consumers.

NAIFA and Life Happens will hold a series of “how-to social media webinars” for members who are new to digital marketing.

While Life Happens has been busily building the third generation, they went into triple gear when COVID-19 hit. “We understood that now is a critical time for agents and advisors as more consumers are home and social media usage has seen triple digit increases,” McGrath stated. “Now more than ever, agents/advisors need to have an online presence to attract new business and better serve existing clientele.”

We’re always here to provide more support to our members; so, please let us know how we can better serve you by sending suggestions to membernews@naifa.org.

We’d love to hear from you!

Suzanne Carawan is NAIFA’s Vice President of Marketing and Communications. You can reach her at scarawan@naifa.org

We thank Life Happens for the work that they do and are proud to partner with them in launching the Financial Security Alliance (financialsecurityalliance.org).

8 Digital Marketing Tactics to Try in 2020

It’s still time to incorporate these ideas into your marketing plan.

By Ashleigh Rothhammer Johnson

How will you grow your business in 2020? Although the year is already under way, that doesn’t mean you can’t set new goals or try new marketing tactics. Look at your marketing plan and business goals for the next 12 months and see if the following digital marketing tactics could fit into your plan.

1. Optimize for Search Engines. How does your insurance or financial-services website show up at the top of online search results? It doesn’t just get there. Your website must be optimized to appear in search engine results pages for Google and Bing. The good news is that now is the best time to improve your SEO thanks to the rise in popularity of voice search, digital assistants, smart speakers and featured snippets.

2. Create a Blog Series. Position yourself as an industry thought leader and start a blog post series. Pick a topic you can speak about with authority across several blog posts. Try to select a topic that is relevant to your clients and prospects or your target audience. Don’t forget to share new posts on social media and in your email newsletters to promote them.

3. Do a Website Content Update. If you haven’t had a chance to update your website’s content in the past six to 12 months, now is the time to do so. Make it a point to revisit each page, refresh the wording, add better images and update links. Not only is this good for online visitors, it’s also an important ranking factor for SEO. Search engines like to display websites with recent and relevant content in search results.

4. Add Engaging Website Features. While you’re at it, why not make your website more interactive to increase engagement and the amount of time people spend on the page? Add an embedded insurance calculator, a poll, an event calendar or even a countdown clock. A recent survey by G2 Crowd found that chat bots will power 85 percent of customer service this year. And with advancements in artificial intelligence, people prefer communicating with today’s chat bots to a real person.

5. Run an Email Marketing Campaign. If you have your clients’ names and email addresses, you have enough data to run an email marketing campaign. You even have enough data to use personalization tags that increase open rates when used in a subject line. If you have a marketing automation system, set up multi-message campaigns that provide a

slow drip of information over time. Use these to welcome new clients, tell them about your agency’s history and how to submit a claim, or you can use campaigns to nurture prospects into clients.

6. Live Stream. If video isn’t part of your business’ marketing plan, it should be. The prevalence of mobile devices and Wi-Fi makes it easier than ever for people to watch and record streamed video. And, if you find it easier to talk on the phone than to type an email message, video should be your content medium of choice.

7. Claim, Monitor and Manage your Online Business Listings. Have you claimed your Google My Business listing? Do you appear on your local Better Business Bureau website? What about Yelp? If your insurance agency or financial-services business is listed anywhere online, it’s time for an audit. Make sure your business name, address, phone number and website appear the same across all listings. Post some new or recent photos and respond to good and bad reviews. In addition, set up alerts so that you will know when a new review is posted.

8. Use Your Business Data. Forbes reported that 78 percent of organizations already have or are developing a customer data platform to help manage, analyze and leverage their data. Do you have an agency management system or a customer database? If you do, it’s time to start using the data at your fingertips to make smart marketing decisions. Start with basic demographic information to learn who your target audience is and then go from there.

Ashleigh Rothhammer Johnson started in the insurance and financial industry in 2007 as an annuity/mutual fund wholesaler. She writes for many industry publications, hosts webinars and promotes industry events. She is a past President of WIFS Denver, a 2018 NAIFA YAT Ambassador, a 2019 Woman of the Year Nominee and serves the Denver NAIFA chapter.

If video isn’t part of your business’ marketing plan, it should be.

Market Strategy for Generation X

This article offers a thoughtful marketing approach that focuses on the unique financial needs and communication preferences of Gen Xers.

By Bryce Sanders

As you create your marketing plan, you will quickly realize that one size doesn’t fit all. Cultural differences matter, as do generational differences. After all, you aren’t selling ponchos — you are selling customtailored clothing.

The same line of thinking should be on the top of your mind as you figure out a plan for marketing your insurance and financial services to Generation X. What do they need and value from a financial advisor, and how can you deliver those services to them?

Before you start to create a marketing plan, you should first take a look at some of the experiences and attributes of Gen X and then figure out how to successfully market to them. The following information will help get you started.

• GenXers have witnessed many crises. According to Kasada. com, Generation Xers are the 82 million1 Americans born between 1965 and 1979. They are stuck between the Baby Boomers and the Millennials. Watergate (1972), Reagan’s presidential election (1980), the AIDS crisis (1981) and the Fall of the Berlin Wall (1989) all took place when they were

growing up, and the dot com crash (2001), the real estate bubble (2008) and the Great Recession (2007) happened during their adult years, and now they are dealing with the devastating impact of COVID-19. As you can see, many things went wrong during their lifetime; as a result, they tend not to trust institutions and big companies.

— Marketing strategy: The guarantees associated with insurance products and the ability to build cash value are attractive to them.

• GenXers have a different outlook from that of other generations. Boomers and seniors have a “Have, Do, Be” mindset. They believe that if you have enough money to do what you want to do, then you will be happy. In contrast, Gen Xers and Gen Yers often have a “Be, Do, Have” mindset. This means that you need to determine who you want to be, do things that make you good at what you want to be, and then you will be happy. In other words, do what you like, and the money will follow.

— Marketing strategy: Because Gen Xers tend to be entrepreneurs2 , they will most likely need business-related insurance and workplace retirement plans.

MICHAEL R ROSS/SHUTTERSTOCK.COM

• Gen Xers have a lot of student loans. According to Experian, Gen Xers average $39,584 in student debt. 3 Their average FICO score is 688, while base scores range from 300 to 850.

— Marketing strategy: Although lots of Gen Xers have huge amounts of student loans, many of them still believe in the value of education and still want their children to pursue higher education. Carrying student debt themselves, they will likely not want their children to have the same problem they have. So, college savings accounts make sense for them, especially if they have relatives who want to help.

• Having experienced the Great Recession, many Gen Xers are still worried about job security. Boomers and their parents believed that you should work for one company or employer until you retire. The Pew Foundation reports that Gen Xers and Millennials share similar job tenure numbers. For example, 59.9% of Gen Xers stayed in the same job for 13+ months, while 21.8% stayed for five or more years 4 . And according to USA Today, the typical employee will have 12 employers during their lifetime 5 .

— Marketing strategy: Having multiple employers during their career often means they have orphaned retirement plan assets, which should be accumulated in one place and given attention.

— Marketing strategy: Gen Xers need to understand that they are responsible for providing for their own retirement. The financial-planning services you offer should show them where annuities and cash value life insurance fit into their plans.

• Gen Xers are more tech-savvy than their predecessors. These days, everyone uses smart phones. In 2015, the Economist reported that the average smart phone user spends two or more hours a day on their phone, and checks it within 15 minutes of waking up in the morning7. Texting and social media messaging have now displaced traditional phone calls.

— Marketing strategy: You should communicate with prospects and clients through their preferred communication channel. This means identifying the channel that is getting most of their attention and using it to communicate with them.

1 https://www.kasasa.com/articles/generations/gen-x-gen-y-gen-z

2 https://www.foxbusiness.com/features/ generation-x-are-better-entrepreneurs-than-millennials

3 https://www.experian.com/blogs/ask-experian/research/ millennials-and-student-loan-debt-study/

4 https://www.pewresearch.org/fact-tank/2017/04/19/ millennials-arent-job-hopping-any-faster-than-generation-x-did/

5 https://www.usatoday.com/story/money/ careers/employment-trends/2018/06/11/ why-millennials-resign-more-than-older-workers/35921637/

6 https://www.epi.org/blog/private-sector-pension-coverage-decline/

• Many Gen Xers do not have pensions. In 2013, The Economic Policy Institute reported that 55% of households had a work-based retirement plan and 56% of those had a defined benefit pension plan6 . This means that only 31% of people had traditional pensions.

7 https://www.economist.com/leaders/2015/02/26/planet-of-the-phones

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, Captivating the Wealthy Investor can be found on Amazon.

Gen Xers need to understand that they are responsible for providing for their own retirement.

Employers Embrace Financial Wellness Programs

As concern about workers’ personal finances grows, the number of employers that offer financial wellness programs through the workplace is expected to nearly double within the next few years. This is according to research from Massachusetts Mutual Life Insurance Company (MassMutual).

The MassMutual Financial Wellness Trend Study1 finds that 42% of employers currently offer financial wellness programs. Another 19% of employers are in the process of implementing programs, and 19% say they plan to introduce wellness programs within the next three years, the study finds.

“Financial wellness has become a huge priority for employers across the country as Americans struggle with managing a wide variety of financial issues from paying down credit card debt and handling emergency medical expenses to saving for retirement and planning for longterm care,” said Una Morabito, head of client management for MassMutual. “In response to employers’ concerns, we now offer more tools, resources and solutions to help

Americans better cope with their personal finances.”

The bigger the employer, the greater the importance that is placed on financial wellness. Overall, 86% of employers characterize financial wellness programs as “important.” Importance of wellness programs ranges from 72% of smaller employers (fewer than 25 workers) to 94% of larger firms (1,000 or more workers).

Employers have several motivations for offering financial wellness programs. The chief motivation, 90% of employers report, is they “really care about their employees.” Eight in 10 employers also said the opportunity to support employees at a minimal cost while being on the “cutting edge of benefit offerings” and gaining an advantage in hiring talent were also contributing factors, the study finds.

HOLISTIC SOLUTIONS PREFERRED

When asked what an effective financial wellness program should consist of, 47% of employers said it should address an employee’s full financial picture. Others pointed to combinations of retirement, insurance, education benefits

The number of employers promoting financial wellness programs is expected to nearly double.

and advice. Other popular components included credit/debt counseling, help with medical costs, and childcare and elder care.

While many employers point to the need for online financial planning tools as essential for an effective financial wellness program, many were dissatisfied with their current tools. Nearly two in 10 (18%) of employers said online tools were the least successful component of their program, according to the study.

Employers were also asked to react to a description of a holistic financial planning tool that would enable them to load information about their personal financial situation — including income, expenses, debt, retirement savings and insurance — as well as their goals. The tool would then use the information to help employees prioritize their goals and provide simple, concrete steps to realize them. A majority of employers (58%) report wanting to offer the tool and characterize it as useful.

What is the most successful at helping employees with financial wellness?

Forty-three percent of employers point to communications.

SUCCESS AT WORK

Seventy-eight percent of those firms report that their financial wellness program is extremely or very successful, according to the study. Factors for determining success included employee feedback, participation in programs, employee metrics and retention.

The most popular components of a financial wellness program were retirement (90%), online retirement tools (86%) or financial planning tools (86%); protection products such as life, disability and medical insurance (82%); and access to a financial advisor for financial planning (77%) or retirement planning (76%).

What do employers say is the most successful at helping employees with financial wellness? Forty-three percent point to communications, including from human resources (26%) or upper management (17%), the study finds. A third (32%) say financial rewards, including discounts, cash awards and free credit reports, drive participation.

MassMutual’s online study surveyed a total of 863 employers that sponsor retirement savings plans with assets of between $1 million and $75 million. All respondents have some decision-making responsibility for either their retirement plan or their financial wellness program.

Getting Appointments to “Stick”

If you follow the steps outlined in this article and the prospect can’t make it to your meeting, he will reschedule rather than cancel.

By Bill Cates, CSP, CPAE

Don’t you hate it when you finally get a prospect to set an appointment for a meeting and they cancel, or even worse, are a “no show”? And do you ever find yourself reluctant to confirm an appointment for fear that it will give your prospects an opportunity to cancel?

This topic came up during a recent coaching call with a wealth-advisory group that is participating in my program. I’ll let you in on some of the ideas and the conversation we had, and I hope you will find them helpful for your own business.

The following are five steps you can take if you want your appointments to stick:

#1. Secure a solid introduction that piques the prospect’s interest. This is an underutilized strategy. Collaborate with your referral source for an introduction that truly entices the prospect to take your call and meet with you. Discuss with your referral source why they thought of this person and why they think they might be a good match for your business. Discuss what they need to say to the prospect (usually in the email introduction) to pique their interest.

Work with your referral source to create a highly relevant introduction and follow-up from you. Remember that if you’re not relevant, you’ll be ignored.

#2. Discuss the agenda with the prospect before the meeting. As you’re scheduling your first meeting with your prospect, discuss what they would like to cover at the meeting. What caught their interest enough to take your call and decide to meet with you? What might they like to accomplish in the first meeting? Build the agenda around their needs and wants, as well as your process.

#3. Create more engagement before the meeting. If you have an engaged prospect or client, it means that you have begun to establish a value connection and a personal connection . They like the questions you are asking, the concepts you’re covering and your responsiveness. They also feel good about you and believe that you’re being genuine and confident, but not pushy. Also, send something of value before the meeting, such as a (complianceapproved) guide, a checklist or a link to a short video. In addition, you can send a link to a website that is related

to one of the prospect’s personal interests that you’ve discovered. Get the engagement process started quickly.

the meeting. Keep the prospect engaged by showing the value, with you and with their agreement to meet with you.

#4. Keep your referral source engaged. You always want to keep your referral source in the loop as you follow up on their introductions. Let them know that you’ve set an appointment and see if they will put in another good word about you before the meeting by talking with, emailing or texting the prospect.

#5. Confirm both the meeting and the agenda with the prospect. When you confirm the meeting, reinforce what the prospect said they wanted to discuss or accomplish during

If you follow the steps outlined in this article and the prospect truly can’t make it to the meeting, rather than cancel the meeting or be a no show, they will reschedule the meeting. The steps outlined will create that all-important sense of engagement with you and reinforce your value.

Bill Cates is the President of, Referral Coach International at www.ReferralCoach.com . He is the author of Get More Referrals Now! Beyond Referrals, Radical Relevance , and the founder of The Cates Academy for Relationship Marketing. He works with financial professionals and their companies to increase sales by attracting high-quality clients through a steady and predictable flow of referrals.

If you have an engaged prospect or client, it means that you have begun to establish a value and a personal connection.

The Business Case for Being Blunt

Being blunt eliminates unfounded client expectations and positions you as an honest advisor who delivers on his promise.

By John Pojeta

Honest advisors fight an uphill battle in the sales process, but they can turn this disadvantage into a strength by approaching the sales process differently.

Whether they mean to or not, many salespeople have a tendency to exaggerate during sales meetings, and the public has responded with a general distrust of anyone who works in sales.

Consider the case of the used car salesman who is often portrayed in stories: He happily guides you around the lot, praising every car for its reliability, fuel efficiency and stellar performance, even when he knows about the car’s shortfalls.

To fight back against distrust, you should be blunt, and:

• Don’t overpromise.

• Don’t under-promise.

• Don’t sugarcoat the truth.

Instead, you should cut to the point in simple and direct terms in areas where others might tend to waffle or fudge the truth to soften a blow.

The uniqueness of this approach will make you stand out from your competitors, and the right prospects will respect your honesty. If you’re willing to address the difficult conversations with your prospects now, that says a lot about how you will treat them later when they become your clients.

For many advisors, being blunt is uncomfortable at first, but it is a useful strategy for building relationships and overcoming the toughest moments in the sales process.

THE BENEFITS OF BEING HONEST

Honesty is especially helpful when bringing on a new client who already has an advisor. Although you may feel tempted to tell the prospect that transitioning to your firm is a simple matter of completing some paperwork, try not to do so because if you do, you will be missing an important detail: Once the client submits his documents, they should expect an uncomfortable phone call from their salesperson, who will most likely try to talk them out of leaving his organization. If the prospect is unprepared, they may cave under the pressure and decide to remain with their current advisor.

To keep the prospect on your side, prepare them ahead of time. Try saying something like this: “After you submit your paperwork, expect your advisor to call you and try to talk you out of leaving. It will be uncomfortable, and he may be upset, but you don’t need to give him any specifics. Tell him that you want to go in a different direction and that you are expecting him to process the paperwork.” This lets the prospect know you won’t shy away from problems that might appear in the future.

Such honesty may turn some prospects away, but that’s OK because they won’t engage with you under false expectations. With this approach, you win in the long run because the clients who stay reap the rewards. When these clients see the return on investment as you predicted, your credibility will increase, and your reputation will be enhanced.

THE VALUE OF ASKING QUESTIONS

To maintain this level of clarity throughout the relationship, ask clarifying questions whenever a client or prospect has a request. This extra step may seem redundant, but it helps you consistently meet expectations.

A CASE IN POINT

This same bluntness can be used to manage the expectations of your prospects and clients. In our business, for example, we arrange appointments between our customers and their ideal business-to-business prospects. We tell clients to plan for a year of appointments before they will recoup their investment and start to hit the exponential profit upswing. If a prospect insists that he can close enough meetings in the first half of the year to break even early, we address that expectation.

Our response to that prospect is: “You know, I talk to a lot of advisors like you in similar situations. There’s always a hope that you can speed up the sales cycle, but the reality is that it is much easier said than done. You’ll probably need to work at it for a full year before you can truly evaluate it and understand its long-term potential.”

Although this response may not be welcome at the time, the clarification it provides realigns the prospect’s expectations, which saves you from a bad client experience down the road.

For example, when a prospect asks for a detailed projection of their retirement income in 20 years, you can easily generate a report that meets their request, but it may not be what they actually want. They may be more curious about the mechanics of receiving and accessing retirement income, the time they have before their funds dry up, or the impact their medical expenses will have on their savings. If you avoid asking clarifying questions, you may deliver the wrong information to the prospect.

Being blunt is not the same as being negative. You can be blunt while remaining upbeat and positive. Better yet, being blunt eliminates unfounded expectations. When clients and prospects recognize you as an honest advisor who delivers on your promises, you will improve client retention and grow your referral pipeline.

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

Honesty is especially helpful when bringing on a new client who already has an advisor.

Five Mistakes NOT to Make When Holding Online Meetings

Avoid these mistakes if you want to hold successful online meetings.

By Howard Tiersky

With COVID-19 forcing many employees to work from home, you’re no doubt holding many virtual meetings with clients, prospects and co-workers.

But are you doing them correctly? Online meeting guru Howard Tiersky pinpoints five mistakes you should avoid.

1. Neglecting one (or more) of the “big five” success keys of online meetings. If you are seeking to bring people together to share information, come up with solutions, make decisions, coordinate activities and/or socialize, you will be successful if you:

• Have a clear purpose

• Get participants in the right mindset

• Get them fully engaged behaviorally

• Incorporate high-quality content aligned with the purpose

• Make it easy to participate

“If you do all of these correctly, you will have high-impact online meetings,” Tiersky said. “If you don’t, there’s going to be a lot of awkwardness and inefficiency. Worse, bad

meetings can lead to bad workplace performance, which is the last thing any of us need right now.”

2. Holding voice calls instead of video conferences. When everyone has their cameras on, you can expect a 200 percent-plus improvement in the effectiveness of online meetings. This keeps people engaged because they know that what they’re doing is visible to everyone else. They’re far less likely to multi-task, which is one of the greatest obstacles to audience engagement.

Online meetings have the potential to move the needle for your business, and right now, this is more important than it’s ever been.

3. Failing to be strategic about sequencing. The first item on your meeting agenda should be a restatement of the purpose of the meeting. After that, strategize the sequence of your activities. For example:

1. If there are any “elephant in the room” topics, deal with those early or they will be a distraction.

2. If you have some sort of fun or exciting announcement, you may want to hold it for the end, letting the participants know that it is coming but keeping the outcome a surprise to create suspense.

3. If an agenda item may be intense or create some heated discussion, put it in the middle — get people warmed up and feeling productive first, then hit them with the challenging topic.

4. Not giving people an active role. It’s possible for one person to present content, facilitate questions, ensure the meeting stays on time and take notes, but why? Seek to distribute the roles of facilitator (responsible for running the agenda), presenter (responsible for sharing specific units of content), timekeeper (watches the clock and alerts facilitators and presenters how to adjust their speed and content) and the note taker (documents the meeting) among the participants.

5. Failing to take advantage of breakouts. In most meetings of more than eight people, most of the talking is usually

done by just five to seven participants. This is one reason why during live workshops, Tiersky often breaks larger groups into breakout teams, so they can come up with ideas, work on prioritization, action planning — whatever the work is — in smaller groups and then come back to the larger group and report on the work they did (Several of the major online meeting platforms including Zoom and Google Hangouts now offer breakouts).

“When done correctly, online meetings are an incredibly powerful method of enabling collaborative work,” Tiersky assured. “It’s worth investing a bit of time and effort in learning how to maximize them. Frankly, they have the potential to move the needle for your business, and right now, this is more important than it’s ever been.”

Howard Tiersky is the author, along with Heidi Wisbach, of Impactful Online Meetings: How to Run Polished Virtual Working Sessions That Are Engaging and Effective — Zoom|Webex|GoToMeeting|Skype|Google Hangouts.

Women and GenXers Don’t Know Full Benefits of Permanent Life Insurance

Educating them will enhance their knowledge of this valuable product — and the potential solutions available.

By Ayo Mseka

Amajority of Americans (82%) continue to have a strong understanding of the primary need for life insurance within their financial strategy, particularly the death benefit that provides money to family/loved ones upon death of the individual. But women and Gen Xers are behind in their awareness about additional benefits that permanent life insurance can offer.

According to the 2019 Life Insurance Needs Study * from Allianz Life Insurance Company of North America, women lack familiarity with a number of important benefits offered by permanent life insurance that could help build more flexibility in their financial portfolio

Only 34% of women believe that the cash value from a permanent life insurance policy can be used to help fund education, retirement or other financial needs, as opposed to 51% of men. Furthermore, only about one-quarter (27%) of women know that benefits paid from life insurance are not taxable, versus 38% of men1 .

Most concerning, only one-third of women believe that cash value from a permanent life insurance policy can be used to supplement retirement income while they are still alive, versus more than half (52%) of men who know it can be used for that purpose.

“Women play a significant role in family finances, so it’s crucial that they have all of the information about ways they can help build a stronger financial future for themselves and their loved ones,” said Jason Wellmann, senior vice president of life insurance sales at Allianz Life. “This is also true for Gen Xers, who can utilize these products to assist with a number of financial strategies, but simply don’t have a complete understanding of all the options that can help them achieve their financial goals.”

This knowledge gap about the benefits of permanent life insurance is echoed by Gen X respondents. Only 31% of Gen Xers understand that benefits paid from life insurance are not taxable versus 38% of boomers. Also, nearly half

(47%) of older respondents know that life insurance can be accessed to provide supplemental retirement income while you are still alive versus only 41% of the Gen X cohort.

These misconceptions exist despite the fact that overall, consumers place high value on financial products that can provide similar benefits

When asked what they find the most valuable in financial products, 83% of respondents said one that “provides a source of tax-free income in retirement,” followed by 76% who value one that “provides tax-free death benefit for family/loved ones” and 57% of those with kids in the household who want a product that “provides the ability to use the funds to pay for college.”

permanent life insurance with their financial professionals than they did in 2018.

“It’s clear that the financial planning community has an excellent opportunity to educate their female and Gen X clients about the living and tax benefits of permanent life insurance,” noted Wellmann. “Providing this information can demonstrate a more complete understanding of their clients’ needs and the potential solutions available.”

1 The death benefit is generally paid income tax-free to beneficiaries.

2 Policy loans and withdrawals will reduce available cash values and death benefits, and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. If a policy is a modified endowment contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 59½ on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change. You should consult a tax professional.

While life insurance is not a college-funding vehicle and does not provide a source of guaranteed income in retirement, it does provide the opportunity to build accumulation value. Any cash value accumulated in a life insurance policy can be accessed through policy loans and withdrawals income-tax-free 2 that can help supplement retirement income or complement a college funding strategy.

Underscoring the need for more education on this topic, the survey also found that fewer people who work with a financial professional are discussing the benefits of

Guarantees are backed by the financial strength and claimspaying ability of the issuing company.

Allianz Life Insurance Company of North America offers insurance and annuities in all states except New York. In New York, products are issued by Allianz Life Insurance Company of New York.

* Allianz Life Insurance Company of North America conducted an online survey, the 2019 Life Insurance Needs Study, in March 2019 with 800 respondents age 35-60, having an annual household income of $100K+.

Only one-third of women believe that cash value from a permanent life insurance policy can be used to supplement retirement income.

NAIFA Member: Steven Saladino, LUTCF

Serving NAIFA has enriched the life of Steve Saladino and enabled him to achieve a high degree of professional success.

Early in his career, Steve Saladino took a very important step: He decided to become a member of NAIFA.

That step has turned out to be highly beneficial for Saladino. He is now a managing director with Principal Financial Group, the recipient of many accolades and awards, and a proud member of NAIFA’s board of trustees.

At Principal, Saladino and his team provide holistic financial planning to families and small-to-medium sized businesses. Together, they use a financial plan to provide clients with a snapshot of their current situation. This allows the team to more easily provide recommendations that help move their clients from where they are today to closer to where they want and need to be.

Because of this high level of client service, Saladino has received numerous honors and accolades. Last year, he was honored with NAIFA-Florida’s C.G. Snead / J.F. Bryan, III Memorial Award for Outstanding Service and was recognized as the “Financial Advisor of the Year.”

This award was presented at the NAIFA-Florida President’s Banquet as part of the Financial Advisors Sales Symposium and Annual Conference. Every year since 1958,

the award has been presented to an insurance and financial advisor for outstanding service to his clients and the industry.

His dedication to his clients has prompted him to pursue many industry licenses and designations. He is a licensed life, health, variable annuity and property-casualty agent; has his seven, 26, 24, 66 and 53 licenses; and has qualified several times for the MDRT.

SERVICE TO NAIFA

As he made his way to the top, Saladino did not forget NAIFA — the association that contributed so much to his professional success. Over the years, he has served NAIFA in a wide range of capacities, including:

• NAIFA Membership Coach/Committee, 2018-Present

• NAIFA-Florida National Committee person, 2018-2019

• Member, NAIFA 20/20 QME Working Group

• NAIFA-Florida Past President, President, President Elect, VP, Board Member (2012-2018)

• NAIFA-Tampa Senior Council, President, President Elect and VP

• Member, NAIFA-National LILI Sub-Committee

• Moderator, NAIFA-Florida State LILI

• IFAPAC, Congressional Council member

Saladino is also a NAIFA-Florida Perennial Pinnacle Club qualifier and has made several general agency/career company presentations. In addition, he has participated in new member orientations, served on various local, state and national membership committees, and is a member of the NAIFA Membership Coach/Committee campaigns.

And he is very proud of his leadership as president of NAIFA-Tampa and NAIFA-Florida, having received NAIFA’s Jack E. Bobo Award for Outstanding Association Excellence for both associations.

Saladino is so devoted to NAIFA that he will do anything for the association if asked — he once jumped off the rooftop of the Stratosphere Hotel in Las Vegas simply because a NAIFA member asked him to do so!

our best interest to make the world a better place. Toward that end, he serves in many organizations, including:

• The Epilepsy Services Foundation

• NAIFA-Tampa Golf for Kids

• Grace Family Church

• The Salvation Army

• The Invocative Theatre

• The Mentors for Hillsborough County Veterans

• The Buchanan/Gaither Instrumental Music Band Boosters

BALANCING WORK AND PLAY

With such a tight schedule, Saladino still spends time with his family because, like most successful advisors, he knows the importance of maintaining a healthy work/life balance. So, he and his wife, Alisa, and their three sons — Scott, Vincent and Nelson — enjoy fishing, kayaking, camping, cycling and running. A third-generation native of Tampa, he is also a veteran of the U.S. Army — the 82nd Airborne Division — and serves as a Veteran Mentor.

COMMUNITY SERVICE

When Saladino is not leading his team at Principal or doing whatever it takes to help advance NAIFA’s mission, he is playing an active role in his community, believing that it is in

As a NAIFA trustee, Saladino will continue to do what he has always done: Serve NAIFA in whatever capacity he is called upon to serve. It is the least he can do for an organization that has played such a pivotal role in his personal and professional success.

As a NAIFA trustee, Saladino will continue to do what he has always done: Serve NAIFA in whatever capacity he is called upon to serve.

NAIFA-Greater Washington’s Success Summit Offers Great Ideas for a Profitable Practice

What started as an idea in 2010 has now become one of the industry’s most popular conferences for personal and professional development.

By Ayo Mseka

The financial advisors who made it to NAIFA-Greater Washington D.C.’s Success Summit found exactly what they were looking for: critical insights by industry leaders and cutting-edge strategies for accelerating their business success. As noted by many in attendance, the conference was a treasure trove of tips and techniques designed to help them move ahead.

From keynote speakers Michael Kitces and Deirdre Van Nest, attendees learned about the industry trends that are currently reshaping financial advice and how to quickly increase trust and likability.

THE POWER OF BELONGING

From NAIFA CEO Kevin Mayeux, CAE, they discovered what it means to belong and how to use a culture of belonging in their practices, their advocacy efforts and their communities.

A culture of belonging is important, especially in today’s tech-driven world, Mayeux told the audience. Most people

know what it is to belong. “It is the feeling that you have a community to turn to in good times and in bad — that feeling of having a place to call home,” he said.

But in the past two decades, most associations have seen a downturn as the population has shifted, and the culture of belonging has degraded. Information is now readily available online, and discount programs that were once key membership benefits can now be obtained elsewhere. In addition, many people are leading busier lives, and there is a myth that younger people do not want to join organizations.

But studies have shown that Millennials will join groups if peers of a similar age belong to those groups, and if they are innovative, tech-savvy and useful.

Although generational preferences have changed over the years, what has not changed is what individuals are seeking in their lives. These include:

— New ways to increase social capital

— Opportunities to develop leadership skills

— Opportunities to have an impact on their cultural landscape

— The feeling of exclusivity

— The opportunity to give back

With technology and especially social media at its disposal, NAIFA has the perfect platform to highlight its members and let more people know that they can fulfill their need to belong by joining their professional association.

So, five years ago, NAIFA created the NAIFA 20/20 Strategic Plan and overhauled the organization by focusing on why people belong and how to clarify the organization’s value proposition.

The strategic plan evolved NAIFA, based on several principles that technology affords, including:

— Adopting people-based technology that allows for face-toface communication

— Offering programs without geographic boundaries

— Offering programs for all members — those new to the industry and seasoned professionals

— Recognizing the value of individual work and teamwork, but using social media to publicly praise people and groups

In addition, after many years of not having a unified way to explain NAIFA’s values, the association now has a way and has chosen the words: Advocate. Educate. Differentiate.

As NAIFA celebrates its 130 years of existence, Mayeux urged the attendees to join NAIFA, or if they are already members, to become active members. “Join NAIFA and spread the benefits of belonging,” he said.

Mayeux also kicked off NAIFA’s commitment to move the needle on financial literacy on MainStreet USA by announcing the release of the overhauled Advisors You Can Trust consumer site, which has been renamed financialsecurity.org. This website showcases NAIFA members’ initiatives in improving the financial wellness of their clients and communities and features a Find a NAIFA Advisor icon where consumers can access a directory and find their perfect fit.

TIPS FOR GROWING YOUR BUSINESS

The Success Summit also featured several concurrent sessions, which taught attendees how to jumpstart their businesses.

In one of these sessions, Jennifer Miller, a retirement plan advisor with American Funds/Capital Group, explained how attendees can increase the revenue of their practice by making use of retirement plans.

The business case for having retirement plans in an advisor’s practice is quite compelling, Miller said. Retirement plans can:

• Provide the advisor with more assets under management.

• Help tie the advisor to the business owner of a company.

• Offer the advisor a steady stream of income. Most workers get paid every other week, she added, which is money that is going into their 401(k) plans.

Many studies have shown that participants do not usually change their plan contributions once they decide what they are, regardless of what the market is doing. So, when there is a market correction, 401(k) plans can provide regular contributions during lean years.

• Help advisors accumulate assets. If advisors meet with employees regularly, they will soon be seen as the “financial face” for these employees and will likely get new clients.

As they search for prospects, advisors should:

• Reach out to current clients. Some clients may have discretionary authority over a company’s retirement plan, while others may be willing to refer them to their retirement plan’s decision-makers.

• Reach out to family and friends. These people may not be direct prospects for them, she said, but they can still serve as a valuable resource in reaching direct prospects. “So, let them know that you not only help individual clients, you also help companies with their employee retirement plans,” she said.

• Connect with centers of influence. Look for people who, by their role or their standing in their community, can help open doors to retirement plan sponsors. Officers or directors of local chambers of commerce are good examples of these types of people, she said.

• Make good use of LinkedIn: On LinkedIn, advisors can click on the jobs button, look for companies that are hiring, congratulate them, and discuss business.

Also, in their search for prospects, advisors should make it a point to look for newly hired HR employees. This is because these people have usually not had time to build ties to any company, they do not have any gatekeepers yet, and they have not had time to accumulate hundreds of email messages.

Once they have acquired prospects and they are about to meet with them, advisors should make sure they have done their homework by creating a value proposition statement that outlines their role as a plan advisor and the services they can provide to the employer and to employees. They should also put together a list of key questions that can help them identify possible areas of opportunity.

HONORING THE BEST AND THE BRIGHTEST

The summit was the perfect place for NAIFA-Greater Washington to honor its best and brightest, and it did so by recognizing the following recipients of the association’s 2020 Four Under Forty Awards. They are Alex Abbenante,

“The culture of belonging is important, especially in today’s tech-driven world.”

— Kevin Mayeux, CAE

CRPC, with Equitable Advisors; Gaffar Chowdhury, with First Financial Group; Matthew Grace, CLU, CLTC, LACP, with First Financial Group; and James Hicks, CFP, ChFC, ChSNC, CFBS, CLU, MBA, with J.L. Hicks Financial Group. In a fast-paced panel discussion with these “rock stars of the industry,” attendees received some valuable tips for moving ahead. To accelerate their journey to success, they should:

• Be focused.

• Try to work with clients they resonate with.

• Focus on things they can control, such as doing a lot of prospecting and marketing activity.

• Hold at least 15 meetings a week.

• Create a script they can use with their clients and prospects, study it thoroughly, and use it consistently.

• Be willing to receive a no from a prospect — this is all part of doing business.

• Give instead of take; it will always come back to you.

THE POSITIVE POWER OF NAIFA MEMBERSHIP

And when these winners were asked about the role NAIFA has played in their professional lives, they enthusiastically offered these powerful benefits of being a NAIFA member:

• ”The industry is always under attack and NAIFA helps fight those battles for us. We need an advocacy program that helps us, and NAIFA has an excellent program. Also, I get to rub shoulders with seasoned members and learn from them.” (Alex Abbenante)

• ”When I think of my clients, the successful ones are those who belong to their professional associations; so, I joined NAIFA to be part of my association. Also, NAIFA allows me to build camaraderie with advisors and to receive lots of sales ideas.” (Gaffar Chowdhury)

• “When you are stuck, it is good to have someone to talk to — and NAIFA offers people you can talk to. Also, advocacy representation is important to me and serves as a great confidence builder.” (Matthew Grace)

• “Continuing education is important to me and the NAIFA conferences always have good speakers.” (James Hicks) All told, the 2020 Success Summit truly lived up to its name by providing a place where forward-thinking advisors came together for the inspiration and information required for career success.

Take Back Your Day!

An hour each day in the Sphere of Silence lets you slow down and take stock of where you are now, and where you are headed.

By Vijay Eswaran

Everyday stressors are causing many people to struggle with falling asleep, losing focus and feeling anxious.

When you realize the demands of your job are incompatible with your long-term mental or physical health, it is not easy to quit, go traveling and hope for everything to fall into place. Most people’s lives are not “Eat, Pray, Love.”

What if there was a less complicated way to deal with stress and burnout? All it needs is for you to invest one hour a day into a consistent practice that I refer to as the Sphere of Silence (SoS). Setting aside this hour every day will help you master the remaining 23 hours of the day.

As an entrepreneur who started a company at the height of the Asian economic crisis in the late ‘90s, I have experienced every type of challenge a business can face. Today’s 20-something start-up founders have a number of resources to tap into, from VC funding and co-working spaces to technology-enabled tools to help with hiring and scaling up.

I was a first-generation entrepreneur in my late 30s, the economy in Asia was shaky, and I had absolutely no

guidance. It should have been overwhelming, but what got me through those early years was my consistent practice of the SoS.

THE SPHERE OF SILENCE

So, what is the Sphere of Silence, and how does it work? The Sphere of Silence is a daily practice that involves retreating into silence for an hour a day and going through a three-step process that will help you make the most of your day, and eventually your life. It’s derived from the art of silence that I learned from my grandfather at a very young age. He would spend an hour in complete silence at the beginning of each day, and nothing could detract him during that hour. He believed that abstaining from speaking brought him inner peace and made him a better listener.

I don’t claim any ownership to its originality. I discovered through extensive reading and discussions with people from all over the world that a ritual practice of silence is not unique to any particular religion or culture. Christianity, Judaism and Islam have all advocated the practice of silence in one form or another. Gandhi is supposed to have

practiced a ‘day of silence’ each week. Even Nelson Mandela is believed to have observed an hour of quiet each day.

I developed this daily routine from a combination of personal and historic mindfulness techniques. It is not to be confused with meditation. In fact, I would refer to it as active silence that is purposeful and structured. It is easy and approachable for anyone who wants to reinvigorate their mind and take charge of their day. Sixty minutes in the S phere of Silence every day enables you to slow down and take stock of where you are now and where you are headed.

THE THREE PATHS

The 60-minute practice is made up of three paths of reflection: duty, knowledge and devotion.

The Path of Duty (30 minutes) allows you to set goals for today, assess goals set the day before, and map out new goals for the future. After all, tomorrow develops from what you intend today, and one cannot structure today without knowing why or how yesterday happened. Hence, understanding yesterday is the key to tomorrow.

The Path of Knowledge (20 minutes) is about enrichment of the mind. I recommend reading an interesting non-fiction book that you think you can learn something from. For the first 10 minutes, read a few pages, and use the second segment of 10 minutes to write a summary of what you just read. This not only helps you absorb and understand the text; this process helps build short-term memory, which is an important requisite in any quest for success.

The Path of Devotion (10 mins) is the time taken to commune with a higher power, or the universe, whichever you prefer philosophically. This is purely personal, and the practice does not, in any way, try to define or dictate the process.

By practicing SoS regularly, you can gain an intense insight into everything you do, and accomplish great things.

This process is meant to question and challenge the standards in our lives to which we have accepted and grown accustomed. We have allowed ourselves to fall into a trap by letting our habits dictate our destinies — but this can change. It starts with our thoughts and progresses into words.

From word to deed, then deed to habit, habit to character, and character to destiny. Practicing the SoS is akin to a productivity life hack that allows you to break the routines that trap you from the start. If thought is responsible for creating our destiny, then the way we think is essential to making meaningful change in our lives.

I recommend setting aside time in the morning for the SoS practice because it is the only time of day before the chaos of our lives begins.

However, it can be practiced at any time of the day that is convenient for you. You must maintain absolute silence during this period and focus completely on what you are doing. It is essential to turn off all forms of external communication during this period. No phones, laptops or television. Refrain from breaks, music or any other distractions during this time. If you break the silence or get distracted by external stimuli, it is important to start the process from the beginning.

I have found this practice to be a holistic approach to improving one’s mental well-being. By simply practicing SoS on a regular basis, you can acquire an intense insight into everything you do, and you will be able to accomplish great things with your life. I have been practicing the Sphere of Silence for most of my life, and I attribute a large part of my success to it.

Today, more than two decades after I began my entrepreneurial journey, that small Asian start-up that was born in a world of chaos has grown into a multi-business conglomerate with a global footprint, and I continue to practice my personal productivity hack to this day.

The Sphere of Silence can be applied to any endeavor. The paths are each designed to encourage positive action in various aspects of your life. I find that practicing the Sphere of Silence is the ultimate weap on against the assault on our senses and the insanity that prevails around us on a daily basis. To many, it may seem like no quiet could exist amid the din and racket of an ever-blaring world. However, if you make it part of your daily practice, you can learn to begin the day with more focus, energy and motivation.

Vijay Eswaran is an entrepreneur, speaker and philanthropist. He is the founder and executive chairman of the QI Group of Companies. He is the recipient of numerous awards for entrepreneurship and business.

OSORIOARTIST/SHUTTERSTOCK.COM

The Financial First Responder

Agents and advisors are usually the first to be called during a financial crisis.

By Juli McNeely, CFP, LUTCF, CLU

As I’m writing this article, much of the United States and the world are under “safer at home” or “shelterin-place” orders due to COVID-19.

As financial advisors, we are on the front lines when it comes to responding to our clients’ financial health. We are often one of the first to be called, especially when a crisis hits. We may be assisting with insurance needs including claim fillings; coverage clarification; or discussing investment savings, market fluctuations and financial goals.

When an emergency occurs, first responders jump into action as well. We certainly share some characteristics, and perhaps it is good to be reminded of some of the steps we both take to assist those in need:

• Be Knowledgeable and Well Trained — Both first responders and financial advisors will do right by those they serve if they have the training and knowledge and are prepared to jump in where needed. It doesn’t matter if you are new in your chosen field or a seasoned pro, the learning never stops

— Financial Advisor Quarantine Tip (FA Q-tip): Use this time to learn more. Read articles, blogs or books; listen to webinars;

take continuing education courses; or meet virtually with your mentors or coaches to grow your knowledge.

• Be Ready — Neither first responders nor financial advisors know for certain when they will be called to action, but they need to be ready when they are called, sometimes at a moment’s notice and sometimes at inconvenient times. In times of crisis, we need to be prepared to do what we have been trained to do. If we are “on call,” we are on alert.

— FA Q-tip: Instead of being “on call,” make “calls out.” In this current crisis, we already know all of our clients are affected. We should be proactive and reach out to check in on our clients instead of waiting for them to call us.

• Be Aware — First responders need to be careful to assess the situation once they arrive on the scene to protect those around them and ensure the scene is safe to move forward. They also constantly assess the ongoing risks of the situation. As financial advisors, we essentially do the same

We are constantly assessing the current situation but also looking ahead for other potential risks our clients may face.

thing. We are constantly assessing the current situation while also looking ahead for other potential risks our clients may face.

— FA Q-tip: Our clients rely on us to be aware of new laws and regulations, tax implications, market conditions, objectives, timelines, estate planning implications, and so many more things. Especially in times like these, we need to be fully aware of their individual situation and make decisions based on a broad look at the consequences and not simply a knee-jerk reaction.

• Be Prepared to Follow Protocol — First responders know that they follow a protocol and bring in other experts where needed. As financial advisors, we also have a set process we follow. At times when our clients may want to go “rogue,” we need to remind them of past history, the long-term plan and even their short-term strategies.

— FA Q-tip: Be the voice of reason in a time of uncertainty. Remind your clients as often as necessary of their set plan and the safeguards that have been put in place to protect them and their financial security.

This has been a very difficult time for everyone. This is our time to shine with our clients even though our plates are full as we try to keep our own families and staff safe.

Be the voice of reason in a time of uncertainty.

I’m often in awe of our first responders when they run into a dangerous situation, and I’m also in awe of each of you as you do what you do best: Serve Main Street America! Keep up the great work! I wish you great success!

A 24-year veteran of the financial services industry, Juli McNeely, LUTCF, CFP, CLU, is president of McNeely Financial Services in Wisconsin. She is a past president of the National Association of Insurance and Financial Advisors (NAIFA), having served as the first female president. She is author of No Necktie Needed: A Woman’s Guide to Success in Financial Services and founder of Juli McNeely Consulting LLC. She is also an active member of MDRT and is affiliated with Woodbury Financial Services. You can reach her at juli@mcneelyfinancial.com.

FOUR UNDER FORTY

Nominate a Rising Star Now

Someone you know is a leader. He or she is successful, of course, but also committed to their community, family and team. They’re already a great example for their peers. Nominate them for Four Under Forty Awards. It’s the recognition they deserve and the next step in their amazing career.

Winners will appear on the cover of the September/October 2020 issue of Advisor Today But that’s just the beginning. Past Four Under Forty winners have a proven track record of continued success through industry leadership roles, speaking engagements and increased peer recognition.

How to Nominate

All NAIFA members are welcome to nominate a rising star for Four Under Forty. Nominees must be NAIFA members in good standing and 40 years of age or younger.

All submissions are due by May 13, 2020

Candidate Nomination Form

Don’t be dazzled by a high DIR

It can hide inefficient designs

Dividend interest rates (DIRs) are temporary, driven by current economic and competitive pressures. When rates change (and history economicandcompetitivepressures.Whenrateschange(andhistory shows they will) it’s the policy’s efficiency and expenses that will permanently impact what value your clients receive. Discover how Ohio National’s Prestige Whole Life products stand out for industr y-leading efficienc y.

Before investing, investors should carefully consider the investment objectives, risks, charges, and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact The Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.

I attained my LACP when it was first available and have successfully used it for several years as a way to differentiate myself.

Lawrence Holzberg, LUTCF, LACP and NAIFA Trustee