Here are some examples of choosing to lose: Withdrawing a CD early, surrendering an annuity before the end of the surrender period and redeeming savings bonds too early (you simply will not get your next interest credit). Let’s examine the difference between this scenario regarding potential loss versus an “at risk” place.
First off, let me be clear that I am not saying that a safe money place is better than an at risk money place. Or, for that matter, that an at risk plan is better than a safe money place. I believe that there are times and places for each. I for one, have safe money places AND risk money places. But the big difference is that in a risk money place, you can lose money due to circumstances outside of your control. These can be natural disasters, wars, inflation, or unnerving world events. Do you think this might concern our clients? I sure do.
We have a great opportunity and a tremendous responsibility when dealing with our clients. They have a lot to say and a lot on their minds. Are you inviting their conversations? Are you listening? If you are, then you are picking up tremendous buying signals and you are probably very successful. Because they are telling you that they are concerned about Long Term Care needs and want a solution – notice that there are a deluge of annuities and life policies with LTC riders hitting the marketplace. You are also hearing that big time increases
in their accumulation accounts are not the #1 deal on their hit parade. It’s the income. Allow me to repeat … IT’S THE INCOME — notice all the new income planning software and seminar programs hitting the market?
In closing, the next 10 years will be very sorry years for financial services advisors that are not listening and that are approaching clients in the same old way. It will be the most successful for professionals that are taking their responsibility seriously and are operating in an ethical and credible manner.
Allow me also to opine that we have a potential liability. Are you offering long term care insurance to your clients? If they decline are you having them sign a hold harmless agreement? I think you should. Are you conducting audits on their life policies and re-pricing their term insurance? What about this hot potato
— are you discussing life settlements with your senior clients that feel they no longer need all of their life policies?
Whew! Makes your head spin, doesn’t it? So, connect with a marketing organization or agency that can lead you to profitable pastures and act as your shepherd. You can always lose due to circumstances outside of your control. But, there is no reason to “choose to lose.” Play it safe and give us a call at 1-877-844-0900 or email us at firstname.lastname@example.org.