What Do I Do for a Living? Prospecting System by Mark Rosenthal

[xrac]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Mark no matter what anyone else says I like it. It is short. It is simple. It is attention grabbing and it leads to further conversion. They will remember you because of what you said you do.

It reminds me somewhat of how Rick on Topgunproducers.com says that his mentor taught him on putting pennies in a bucket to get out dollars.

 

[Mark]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Mark no matter what anyone else says I like it. It is short. It is simple. It is attention grabbing and it leads to further conversion. They will remember you because of what you said you do.

It reminds me somewhat of how Rick on Topgunproducers.com says that his mentor taught him on putting pennies in a bucket to get out dollars.

Thank You...


You have to listen to the tape to really know where I'm going with this and I'm not sure everyone did listen to it.

Click Here if you want to listen to it.

 

[DHK]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

I used to think similarly, but notice the www.dictionary.com definition of investment:

"the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value."

The term "investment" isn't defined based on the degree of market risk or potential returns. Any attempt to put money into something with the hope of getting more back later seems to qualify as an investment.

Regulators write their own dictionaries.

Arbitrators will then use your words against you.

Larry, I 100% agree with you. You just don't always know who you're talking to... and if they will be the one to take you to court for a stupid misstatement.

 

[Larry Tew]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Regulators write their own dictionaries.

Arbitrators will then use your words against you.

Larry, I 100% agree with you. You just don't always know who you're talking to... and if they will be the one to take you to court for a stupid misstatement.

True. It's fascinating just how elastic the truth can be with some people.

 

[Newby]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Regulators write their own dictionaries.

Arbitrators will then use your words against you.

Larry, I 100% agree with you. You just don't always know who you're talking to... and if they will be the one to take you to court for a stupid misstatement.

Agreed. The word investment absolutely means putting your money at risk in hopes of a gain.
Using the word invest when selling insurance or non-variable annuities is a huge mistake. Don't do it.

 

[Larry Tew]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Agreed. The word investment absolutely means putting your money at risk in hopes of a gain.
Using the word invest when selling insurance or non-variable annuities is a huge mistake. Don't do it.

Here is the problem when you arbitrarily decide that what a word means is not what it means... How much risk? How do you measure the amunt of risk? Are we talking about investment risk? Market risk? Liquidity risk? Entry Point risk? Inflation risk?

The life insurance industry with few exceptions have no clue about the product they manufacture and what it is capable of in the hands of a skilled advisor. There is almost a disdain from both companies and agents toward the product. The day I feel the need to apologize for what I sell is the day I'll get a job cleaning septic tanks.

As long as this is the case, new clients will continue to ask me 1) Why haven't I heard this before; and 2) Why didn't my other agent / advisor show me this?

 

[Newby]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Here is the problem when you arbitrarily decide that what a word means is not what it means... How much risk? How do you measure the amunt of risk? Are we talking about investment risk? Market risk? Liquidity risk? Entry Point risk? Inflation risk?

The life insurance industry with few exceptions have no clue about the product they manufacture and what it is capable of in the hands of a skilled advisor. There is almost a disdain from both companies and agents toward the product. The day I feel the need to apologize for what I sell is the day I'll get a job cleaning septic tanks.

As long as this is the case, new clients will continue to ask me 1) Why haven't I heard this before; and 2) Why didn't my other agent / advisor show me this?

I'm not saying not to sell fixed or indexed annuities. Quite the opposite.

I'm just saying do NOT call them investments. They are not investments. You will not see a single brochure or company material that has the word invest or investment on it when talking about indexed annuities.

I'm not saying they aren't a good product. They definitely are. I sell them and also buy them for myself. But they are not investments.

Your principal can NEVER be at risk if you abide by the terms of the contract. That is why they are not investments, they are insurance products.

 

[Larry Tew]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Scott, I don't disagree in principle. I wasn't referring to index annuities - but thinking more globally about the word "investment" itself.

 

[DHK]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Newby,

They are investments... they're just not SECURITIES.

 

[Full Throttle]

Re: What Do I Do for a Living? Prospecting System by Mark Rosenth

Newby,

They are investments... they're just not SECURITIES.

Exactly. Does it have potential for a positive rate of return? If so, you can measure the return by calculation the RO"I". That doesn't mean you can use the word with clients because regulators disallow it, but an orange is still a orange even if a regulator says you can't call it an orange.