- Thread starter
- #151
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I've had to request a new password each day I access it. Just click "forgot password" and you should get in with the new password.
Guidance for New Life Agents
- Thread starter DHK
- Start date
- Thread starter
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Dave Duford (Rearden on the forum) created his own video on 5 ways to find the BEST insurance agency to work for. He makes excellent points that it's YOUR job first, to figure out what market you want to be in, and THEN find the right organization. And that it's YOUR job to INTERVIEW THEM to make sure they are a good fit for you.
And for reference again, this is my video take on similar subject matter:
And for reference again, this is my video take on similar subject matter:
- Thread starter
- #153
- 11,266
If you haven't bought and read Retirement Income Masters by Tom Hegna, and are working with retirees & annuities... get it! I'm not yet done reading it, but this is the review I left on Amazon.com for it:
"The problem that advisors have, is that we get a lot of 'pitches' from wholesalers touting the latest and greatest products. We are also pitched to buy software in order to sell clients on the "latest and greatest" ideas. Then it's up to US as agents and advisors to figure out how to make it work within a client's total retirement income situation so the client can understand it all. And often... they don't.
The job of the advisor is NOT to 'pitch product', but to provide comprehensive solutions. This book helps you to not only understand more of the generic products available as tools for our clients, but the mindset and communication language to help you convey the value of these financial tools in a compliant way. This book serves as a "cliffs notes" of some of the best ideas out there that you can reference and integrate into your work as a retirement income advisor.
Just buy it and read it. You'll be glad you did."
Amazon product ASIN B00NMNGE7U
"The problem that advisors have, is that we get a lot of 'pitches' from wholesalers touting the latest and greatest products. We are also pitched to buy software in order to sell clients on the "latest and greatest" ideas. Then it's up to US as agents and advisors to figure out how to make it work within a client's total retirement income situation so the client can understand it all. And often... they don't.
The job of the advisor is NOT to 'pitch product', but to provide comprehensive solutions. This book helps you to not only understand more of the generic products available as tools for our clients, but the mindset and communication language to help you convey the value of these financial tools in a compliant way. This book serves as a "cliffs notes" of some of the best ideas out there that you can reference and integrate into your work as a retirement income advisor.
Just buy it and read it. You'll be glad you did."
Amazon product ASIN B00NMNGE7U
I have it on my wish list, he's got a couple out there. Playchecks...
- Thread starter
- #155
- 11,266
Paychecks and Playchecks is consumer oriented. You can actually get them custom printed for you and your practice.
Tom Hegna
It's essentially Tom's "Don't Worry, Retire Happy" original message before PBS asked him to present his message.
Tom Hegna
It's essentially Tom's "Don't Worry, Retire Happy" original message before PBS asked him to present his message.
- Thread starter
- #156
- 11,266
A word about people who "put down" salespeople.
I can be one of them, unless you're a professional who is continuously developing your skills. Insurance and financial services is one of the few, if not only professions, where if you're truly working on yourself and your skills... that is an increasing lifestyle business.
Now, there will ALWAYS be some people that you will come across... who will say things like "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway." - Warren Buffett
(Thank goodness I'm not on Wall Street and my car is NOT an unreliable Rolls Royce.)
Let's clarify this stuff: Who stays on top of the most current regulations regarding advice? Who stays on top of income tax related matters? Social security changes? Estate planning matters? Retirement savings strategies? And new product developments for the best ways for us to serve our clients and our communities? And continuously do it from year to year? Only true professionals do this.
This is an entrepreneurial service business. And that service is tailored to the needs, wants, and desires of the client within the scope of licensing and expertise of the professional providing that service.
Money is an emotionally charged topic. One of the biggest values that true professionals provide... is peace of mind. Now, if you can't deliver on that, you won't have a sale. Period. This is where the value, advice, and expertise shows its value - to help people have greater peace of mind. Your job is to take people's worries with you along with a check to pay you for removing those worries.
Now, when you come across somebody who disparages selling as an overall profession, then that usually exposes the fact that they despise salespeople - even if they're in selling themselves and wouldn't recognize excellence in the first place.
Who are some of the TOP people in the INSURANCE field who started with nothing and became top professionals?
- Ben Feldman (sold chicken eggs door to door before eventually selling for New York Life)
- John Savage (9 years of failure before he found his path to success)
- Mehdi Fakharzadeh (the MDRT recognizes as the most successful living and active insurance agent in the world when he was 88... and he's currently 95 years old!)
- Van Mueller (failed for 16 years before finding his path to learning how to really serve everyone around him - even if they didn't buy anything).
For the investment side of financial services:
- Ron Carson was widely known as the most successful registered rep for LPL. Here's a great article/podcast interview talking about his early struggles.
How Ron Carson Built Carson Wealth And Institutional
One of my other FAVORITE inspirations... is Chris Gardner. Chris Gardner was HOMELESS... and was building his business as an intern for Dean Witter back in the early 80's and the movie "The Pursuit of Happyness" was based on.
You should hear what happened to him after the events of the movie. He gets recruited to go work for Bear Stearns. And "Ace" Greenburg calls him to welcome to the team. Here's what he said back in the 80's:
That's how the entire financial services industry has been built. It is entrepreneurial in nature. If somebody doesn't like it, you let them choose someone else. In most cases, we get to choose who we want to take on as clients. Some situations you don't get to really make that call - such as banks and credit unions. But in most cases, you choose who you want to work with through the process of elimination.
Rarely do people with large successful portfolios join our business. Even if they do, they aren't the successful people we hear about and want to emulate. Today, we probably have more people looking to buy an existing practice, rather than trying to build it on their own, but this is a more recent phenomenon.
Technicians who think they can "do it better" who decide to get licensed so they can do this business... really should pick up a copy of The E-Myth Revisited and learn the difference between the leader, manager, and technician in the role of a successful business.
So, if you find somebody who holds you and your profession (or maybe just you) in contempt... then there is only one reason why you keep trying to sell them: you are afraid to prospect for new people who would appreciate the value you bring.
And find YOUR inspirations for whenever you run across some of these people. They can suck up all your energy and thought if you let them. That is simply too high of a price to pay. Find your way to shift your mind back to where it needs to be.
I can be one of them, unless you're a professional who is continuously developing your skills. Insurance and financial services is one of the few, if not only professions, where if you're truly working on yourself and your skills... that is an increasing lifestyle business.
Now, there will ALWAYS be some people that you will come across... who will say things like "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway." - Warren Buffett
(Thank goodness I'm not on Wall Street and my car is NOT an unreliable Rolls Royce.)
Let's clarify this stuff: Who stays on top of the most current regulations regarding advice? Who stays on top of income tax related matters? Social security changes? Estate planning matters? Retirement savings strategies? And new product developments for the best ways for us to serve our clients and our communities? And continuously do it from year to year? Only true professionals do this.
This is an entrepreneurial service business. And that service is tailored to the needs, wants, and desires of the client within the scope of licensing and expertise of the professional providing that service.
Money is an emotionally charged topic. One of the biggest values that true professionals provide... is peace of mind. Now, if you can't deliver on that, you won't have a sale. Period. This is where the value, advice, and expertise shows its value - to help people have greater peace of mind. Your job is to take people's worries with you along with a check to pay you for removing those worries.
Now, when you come across somebody who disparages selling as an overall profession, then that usually exposes the fact that they despise salespeople - even if they're in selling themselves and wouldn't recognize excellence in the first place.
Who are some of the TOP people in the INSURANCE field who started with nothing and became top professionals?
- Ben Feldman (sold chicken eggs door to door before eventually selling for New York Life)
- John Savage (9 years of failure before he found his path to success)
- Mehdi Fakharzadeh (the MDRT recognizes as the most successful living and active insurance agent in the world when he was 88... and he's currently 95 years old!)
- Van Mueller (failed for 16 years before finding his path to learning how to really serve everyone around him - even if they didn't buy anything).
For the investment side of financial services:
- Ron Carson was widely known as the most successful registered rep for LPL. Here's a great article/podcast interview talking about his early struggles.
How Ron Carson Built Carson Wealth And Institutional
One of my other FAVORITE inspirations... is Chris Gardner. Chris Gardner was HOMELESS... and was building his business as an intern for Dean Witter back in the early 80's and the movie "The Pursuit of Happyness" was based on.
You should hear what happened to him after the events of the movie. He gets recruited to go work for Bear Stearns. And "Ace" Greenburg calls him to welcome to the team. Here's what he said back in the 80's:
"Bear Stearns was not built by people with MBAs, but those who have PSD's - Poor, Smart, and a Desire to become wealthy."
Here's a speech Chris Gardner gave and I'm starting it after he goes over those events as outlined in the movie:
That's how the entire financial services industry has been built. It is entrepreneurial in nature. If somebody doesn't like it, you let them choose someone else. In most cases, we get to choose who we want to take on as clients. Some situations you don't get to really make that call - such as banks and credit unions. But in most cases, you choose who you want to work with through the process of elimination.
Rarely do people with large successful portfolios join our business. Even if they do, they aren't the successful people we hear about and want to emulate. Today, we probably have more people looking to buy an existing practice, rather than trying to build it on their own, but this is a more recent phenomenon.
Technicians who think they can "do it better" who decide to get licensed so they can do this business... really should pick up a copy of The E-Myth Revisited and learn the difference between the leader, manager, and technician in the role of a successful business.
So, if you find somebody who holds you and your profession (or maybe just you) in contempt... then there is only one reason why you keep trying to sell them: you are afraid to prospect for new people who would appreciate the value you bring.
And find YOUR inspirations for whenever you run across some of these people. They can suck up all your energy and thought if you let them. That is simply too high of a price to pay. Find your way to shift your mind back to where it needs to be.
- Thread starter
- #157
- 11,266
The New Insurance Pro Shop "secret weapon":
A few months ago, my favorite industry teachers & trainers at The Insurance Pro Shop began offering monthly training webinars. They are either $59 each, or included in the members only site for only $30 monthly.
The Leading Insurance Marketing & Sales Tools, Tips & Training
Now, I call it a "secret weapon" because the webinar topics are NOT listed for you to know what's available! So, here's a list of the recorded webinars that are available to help you:
- Identifying the Needs
- Capturing 401k Dollars
- Finding and Connecting with Your Ideal Prospects
- Annuity Ins and Outs (a VERY good one!)
- Income Planning and Annuity Strategies (builds on the last one and is GREAT!)
- Educational Workshops
- 5 Minute Presentations (the secret to a great fact-find!)
- Create a Killer, Simple, High Closing Presentation (worth the monthly fee alone!)
- How to Find the Money
- Social Media Marketing
- Setting Appointments the Easy Way
These webinars are NOT light on technical details! They are great at the details and suitability of products for when they apply and when they are not appropriate.
These are the kinds of people you want training you and training the industry.
This Thursday, IPS webinar "Life Insurance In's and Out's" will cover essentially how to properly structure a cash value life insurance policy... and more.
- How to run bullet proof illustrations for both IUL and Whole Life
- What the heck is a MEC, and how can we use it?
- How to structure a short-pay policy
- Illustration use rules
- And they will also ask for volunteers to share screens with... to use YOUR company's software!
Yes, I know most of these things, but they have a knack for truly making these things simple, so I know I'll learn more of the 'art' of the sale, not just the technical information behind it.
Here is my testimonial that I just submitted today:
"Just wanted to drop you a quick note about your webinars. Your webinar content has been FANTASTIC! You help to “cut through” to the heart of what’s most important in order to do an accurate and great job for the client. Sure, you often run past the 1 hour mark, but it’s always been valuable content. IPS always delivers! Everyone who is a student of the life and annuity insurance business needs to hire you to be their teachers for insurance and financial planning."
EDIT: I just wrote about this yesterday, and today they announced a 30-day free trial, so you can even check it out with no money.
https://ipsproshop.infusionsoft.com/app/manageCart/addProduct?productId=177&subscriptionPlanId=33
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- Thread starter
- #158
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Are you selling in a multi-cultural market? (It's probably better if I ask if you are NOT selling in a multi-cultural market.)
I'm in California. While it is said that the United States in general is a melting pot of cultures, California really exemplifies it. We have practically EVERY culture represented in the world here. Primarily the Hispanic/Latino communities and a vast Asian-American community.
However, most training in life insurance either doesn't address various cultures, or is simply incompatible for selling to people who many not understand advanced concepts. For those who CAN do this, it presents an EXCEPTIONAL opportunity!
LIMRA said in their "Facts About Life" in 2013:
"Over the next 20 years Hispanics are projected to grow three times more than any
other ethnic group in the U.S. In terms of life insurance, nearly half of Hispanics
surveyed said they are concerned about financial protection if they should die
suddenly (compared with 37 percent of the general population citing this as a top
concern)."
How prepared do you feel to work with these families to help them? Are you easily understood? Do you naturally show respect and even a basic understanding of cultural differences?
I saw this video some time ago, and it should make you cringe. On www.EthnoConnect.com, Michael Soon Lee says that there are 40 mistakes made by this agent. Perhaps you can spot them?
No, you don't have to speak the other language, and you don't have to have materials in their language - as long as they speak enough English... but that is far more forgivable as long as the agent is respectful in the first place.
I'm in California. While it is said that the United States in general is a melting pot of cultures, California really exemplifies it. We have practically EVERY culture represented in the world here. Primarily the Hispanic/Latino communities and a vast Asian-American community.
However, most training in life insurance either doesn't address various cultures, or is simply incompatible for selling to people who many not understand advanced concepts. For those who CAN do this, it presents an EXCEPTIONAL opportunity!
LIMRA said in their "Facts About Life" in 2013:
"Over the next 20 years Hispanics are projected to grow three times more than any
other ethnic group in the U.S. In terms of life insurance, nearly half of Hispanics
surveyed said they are concerned about financial protection if they should die
suddenly (compared with 37 percent of the general population citing this as a top
concern)."
How prepared do you feel to work with these families to help them? Are you easily understood? Do you naturally show respect and even a basic understanding of cultural differences?
I saw this video some time ago, and it should make you cringe. On www.EthnoConnect.com, Michael Soon Lee says that there are 40 mistakes made by this agent. Perhaps you can spot them?
No, you don't have to speak the other language, and you don't have to have materials in their language - as long as they speak enough English... but that is far more forgivable as long as the agent is respectful in the first place.
- Thread starter
- #159
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There aren't many "short-cuts" in this business. I've been around insurance and financial services for over 15 years... but most of us want our massive success YESTERDAY. I don't blame you, but there are certain steps that you just can't avoid when starting your career - particularly when starting your career from scratch.
I've written about Wayne Cotton, CLU as a "growth guide" before. He has his systems and methodology. This article about the "Bowling Lanes of Learning" is well-worth reading and considering it as a "growth guide" for building and developing your career and your practice.
https://www.linkedin.com/pulse/2014...es-of-learning/?articleId=7966447721525903105
This video, Jeff Rose, CFP talks about his first 5 years in the business, and that it took him 5 years to finally break the $100,000 mark. Makes sense for those who are more focused on investment portfolios.
The resources I've shared before (Sid Walker, Sandy Schussel, and Insurance Pro Shop) can make the journey shorter and easier... but you still have to put in the study time and field practice to truly realize the results you really want long-term.
EDIT: Jeff Rose just posted his video on how to find a mentor, so here it is:
I've written about Wayne Cotton, CLU as a "growth guide" before. He has his systems and methodology. This article about the "Bowling Lanes of Learning" is well-worth reading and considering it as a "growth guide" for building and developing your career and your practice.
https://www.linkedin.com/pulse/2014...es-of-learning/?articleId=7966447721525903105
This video, Jeff Rose, CFP talks about his first 5 years in the business, and that it took him 5 years to finally break the $100,000 mark. Makes sense for those who are more focused on investment portfolios.
The resources I've shared before (Sid Walker, Sandy Schussel, and Insurance Pro Shop) can make the journey shorter and easier... but you still have to put in the study time and field practice to truly realize the results you really want long-term.
EDIT: Jeff Rose just posted his video on how to find a mentor, so here it is:
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- Thread starter
- #160
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Hey guys, I know some of you like Grant Cardone and some other sales gurus. I just found this guy - Dan Lok - and I just love the way he articulates his content! I just found him yesterday on YouTube and, in my opinion, FAR better than Grant Cardone (who seems to be more about motivation and generic content but with great intensity).
Now, Dan does use foul language, but he's very, very good! I think this video was quite good.
Now, Dan does use foul language, but he's very, very good! I think this video was quite good.
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