Insurance Agents Name Choices – Insurance Specialist, Financial Planner, or Life Advisor?

Are you one of the plain insurance agents? Agents often prefer to upgrade their title as an insurance specialist or financial advisor on their business card. Names like life advisor reflect positive experience and knowledge. Which of these different terms distinguishes you from being just one of the insurance agents? Here are 101 top choices to pick from.

There is a lot more to a name then may realize. Calling yourself an agent or sales agent makes you sound run of the mill. It also projects the sound of a salesman trying to sell you something. Few people enjoy feeling a person is selling them anything, it stinks of pressure. This is why in this list of different terms you will see how high words like specialist, expert, and professional rank. The prospect gets a completely new perspective, just by the title you give yourself! Prospects closely take notice when an agent jointly works with them in reaching a decision on what is the best plan of action. Prospective clients want to feel like they are part of the decision process.

Important internet search tip: to get an accurate count use quote marks around your term, "insurance specialist" will only give you that term in that exact order. Without the quotes you would also get all instances of people searching terms such as specialist insurance, specialist in writing insurance claims, specialist in automobile insurance sales, etc.

To give this article value, in front of each of the insurance agents distinctions is the number of current Google listings. This way you can easily see how often internet views "insurance agent" look-up terms like specialist, planner, representative, and. advisor. Please remember the Google count figures often change daily.

1. 10,600,000 = financial advisor

2. 6,690,000 = insurance agent

3. 4,280,000 = financial planner

4. 2,120,000 = investment advisor

5. 1,780,000 = insurance agents brokers

6. 1,600,000 = investment adviser

7. 999,000 = insurance guide

8. 735,000 = insurance specialist

9. 638,000 = financial expert

10. 604,000 = financial professional

11. 590,000 = financial specialist

12. 513,000 = life pro

13. 433,000 = insurance professional

14. 431,000 = health insurance agent

15. 322,000 = insurance expert

16. 271,500 = insurance salesman

17. 269,000 = life professional

18. 268,000 = life insurance agent

19. 253,000 = insurance consultant

20. 252,000 = insurance advisor

21. 244,000 = insurance sales representative

22. 219,000 = insurance manager

23. 218,000 = estate advisor

24. 217,000 = insurance executive

25. 189,000 = estate planner

26. 186,000 = independent insurance sale

27. 179,000 = insurance sales agent

28. 155,000 = insurance seller

29. 130,000 = insurance producer

30. 126,000 = investment representative

29. 120,000 = insurance authority

30. 119,000 = insurance representative

31. 112,000 = life agent

32. 107,000 = life insurance specialist

32. 104,000 = life specialist

33. 102,000 = insurance adviser

34. 89,900 = insurance sales manager

35. 86,200 = licensed insurance agent

36. 85,200 = insurance manager

37. 71,000 = health agent

38. 66,600 = insurance pro

39. 65,100 = insurance sales rep

40. 60,000 = insurance designer

41. 59,400 = insurance sales person

42. 55,600 = life consultant

43. 54,500 = group agent

44. 52,200 = ins agent

45. 50,100 = estate adviser

46. ​​50,000 = insurance pros

47. 46,800 = insurance counselor

48. 43,800 = financial pro

49. 43,400 = insurance salesperson

50. 40,200 = insurance sales specialist

51. 37,700 = life producer

52. 37,000 = insurance sales executive

53. 35,400 = independent insurance brokers

54. 34,700 = long term care professional

55. 34,500 = financial planning advisor

56. 33,900 = medical insurance specialist

57. 31,300 = health insurance professional

58. 29,300 = life insurance expert

59. 29,000 = insurance rep

60. 28,900 = financial planning advisor

61. 27,500 = health insurance specialist

62. 26,000 = health insurance advisor

63. 25,500 = independent insurance professional

64. 24,700 = employee benefits specialist

65. 24,000 = life advisor

66. 22,900 = life insurance advisor

67. 21,800 = life insurance sales specialist

68. 19,900 = life insurance professional

69. 19,300 = insurance producer

70. 19,200 = licensed financial planner

71. 16,200 = health insurance producer

72. 14,900 = insurance sales consultant

73. 14,000 = term life insurance broker

74. 12,800 = long term care specialist

75. 12,700 = annuity specialist

76. 12,500 = estate planning specialist

77. 12,200 = insurance marketer

78. 11,950 = life insurance representative

79. 11,900 = insurance planner

80. 10,600 = insurance sales professional

81. 10,400 = life insurance advisor

82. 10,200 = insurance writer

83. 9,650 = insurance recruiter

84. 9,480 = financial planning advisor

85. 9,030 = estate planning advisor

86. 8,570 = annuity broker

87. 7,520 = insurance general manager

88. 7,070 = insurance trainee

89. 6,800 = long term care insurance specialist

90. 6,670 = term life insurance agent

91. 6,440 = long term care insurance agent

92. 5,870 = licensed life agent

93. 5,300 = financial insurance agent

94. 5,270 = annuity agent

95. 5,080 = ins professional

96. 5,030 = medical insurance professional

97. 5,010 = disability insurance agent

98. 4,990 = employee benefits professional

99. 4,430 = mortgage insurance agent

100. 4,200 = disability insurance specialist

101. 3,900 = long term care agent

For your own sake, never tell prospective clients that you are one of 1,500,000 insurance agents licensed to sell life, health, annuities, and financial policies. The term insurance specialist or insurance professional immediately makes your prospect more confident of your abilities. However, please do not use the overused and abused terms of financial planner or estate planner unless you actually are qualified to be one.

If case, you are interested, here are more titles with over 1,000 Google entry occurrences that did not make the top 101 list. They include group health professional, ins specialist, insurance marketing representative, health insurance adviser, ins representative, term life insurance specialist, mortgage life insurance agent, insurance marketing specialist, disability insurance broker, life ins agent, term life agent, senior market specialist, life investment adviser, MDRT insurance agent, and insurance saleswoman.

Should you want to get more attention on major search engines like Google, Yahoo, and Ask, here are some tips. On the front of your website entry page, use the title and first line to put a more descriptive term about the services you provide. Rather than announcing "insurance agent for many products", try this, "medical insurance professional and disability insurance specialist." Both these titles only have about 5,000 competing entries, which could include 3,500 to 4,000 weak ones each. Now it depends on following the advice given, and internet search engine skills you possess. An internet searcher might now find you in the top 100 listings for each of the terms! On an "insurance agent" search, with well over 6,000,000 listings, it might take a 24/7 week to find you listed toward the end of the heap.

Stop Bad Financial Habits And Choose A Fresh Start

People are often influenced to give unsolicited advice to others about the easiest way to manage finances. Even though of the will make sense, the majority of these are very generic in general. You must exercise caution when you assemble a monetary strategy out from this information, though it's important to create a precise and consistent plan.

Nevertheless, you happen to be still left together with the unanswered question. How would you prevent the decline of funds on stuff that are of no use, and yet approach managing your individual finances?

The Situation: A lot of people, including you, do not fully understand how important it is to save cash with regard to their future. Figure out how to save first then spend, not the other way around. While this is superior to no savings in any way, it is definitely not the correct way to build an excellent savings plan.

Steps To Managing Your Individual Finances Well.

Listed here are some important tips that you can consider if you wish to reduce costs for the future. These techniques have helped a lot of people be successful at taking better proper care of their finances.

Put 20% Of The Earnings Into Savings

In case you are to be successful in the foreseeable future, carry out the opposite of just what the average person does. As opposed to saving whatever remains, save first and spend afterward. Even if you are expecting a reduced check than normal, be sure to save 20% out from each and every single check that you receive. Make sure to deposit this money once you receive money. You will have learned a vital lesson, and saving the amount of money than enables you to work your way down taking good care of everything, bills first.

Saving money assists you to create a healthy financial habit that will help you to budget your money efficiently for the rest of your way of life. You could possibly feel much less stressed about finances when you know that you have an urgent situation fund available.

Do not Complicate Matters

It is obvious the iPhone 7 is great. Your buddies and colleagues have purchased it, but the iPhone 6 plus is one that you simply bought a few time ago. While many of these new gadgets are fun and exciting to have, you undoubtedly do not need a new phone unless your old phone is dying. You must never buy it unless you really want an iPhone 7.

Can that new phone do something that your particular old model can not do? It is essential to sometimes treat yourself with luxuries, just make sure this really is something great rather than some of those undesirable habits one does repeatedly. Additional money is the best money to pay, not the 20% you will be saving.

Cash Over Credit

Maybe you are from the opinion the charge cards in your wallet should be used, not hidden away. Often we start off with good intentions buying only small things likely to pay them off at the conclusion of every month. $ 50 here or $ 25 there can not hurt, and you can always pay it off following the month. That brand of thinking gets people in trouble quickly, plus they rack up a pile of debt.

Using cash whenever you can will help you to curb this tendency. Do not make use of credit card unless it's a crisis situation. Alternatively, it is possible to change it out having a debit card, and that is a significantly better option!

Keep in mind that becoming a rock star at personal finance does not have to be hard. It requires breaking undesirable habits and creating new, healthier ones.

Debt Relief Grant Money – Federal Financial Aid Programs

Credit card debt has become one of the largest financial problems faced by a majority of people today. Many individuals struggle paying off this debt without realizing that there are debt relief grants available from Federal Financial Aid Programs, that have been set up with the specific purpose of helping the average citizen pay off their unsecured debts. While some people simply do not take advantage of these grants because they are unaware that they exist, many others do not utilize them because the process seems too confusing for them to complete alone. Fortunately, there are programs and software available to help you get this money.

While debt relief grants are out there, finding them and applying for them is usually the most difficult part. Remember that while you may eventually be able to pay off your credit card debt by working hard and paying the minimum balance for years, or even decades, getting one of these grants will offer you immediate relief. One of the most positive aspects associated with this type of money is that unlike a traditional loan, you usually are not required to offer some sort of collateral, and will also avoid large amounts of interest.

The process of receiving debt relief grant money will require that you first apply. The individual or government group that handles this kind of relief program will want to know how you qualify, along with exactly how much money you will need. One of the main considerations will be your ability to repay the money that is currently owed by you to all of your creditors. The easier it is for you to prove that repaying this debt in a reasonable time frame without large amounts of interest is impossible, the more likely it is you will be approved for a grant.

Getting the money that you need to finally repay your debts can seem like a difficult process, but does not have to be. Instead of refinancing your current debts or taking out another loan with a large interest rate, consider applying for debt relief grant money from one of the many Federal Financial Aid Programs that are available. Remember that there are many types of software and organizations available that can help you apply and simplify the entire process for you. The benefits of finally paying off your credit card debt once and for all should be incentive enough for you to start applying for these grants today.

What is an Equity Broker?

Those who wish to buy or sell shares of stock in publicly traded companies do so by engaging a stock broker. The broker receives a commission, and in some cases, a monthly fee for managing the account.

When most people use the term "stock broker" they more than likely are referring to an equity broker. However, there are some differences between the two. Equity trading, which includes hedge funds and day trading, is more correctly viewed as a subset of traditional stock market trading. Equity brokers generally deal with individuals who want to invest more aggressively or who may have intricate trading strategies they want to implement. Minimum investments are typically high, and fees can be as well.

An equity broker will normally perform more extensive market research, and equity firms often have extensive, proprietary systems for trading. Many firms devoted to equities trading are established as hedge funds and lie within major investment banks.

Hedge funds are quite different from the traditional approach to investing in the stock market or mutual funds, which is to purchase shares and hold them for a considerable amount of time. Hedge funds are usually very active, and often the fund manager will take huge risks which can pay off in the form of huge profits or losses. In addition to investing in stocks and bonds, hedge funds may also speculate on foreign currency or potentially any other investment that is included in the plan or strategy.

You can also find equity brokers in firms that specialize in day trading. These private equity firms make their money by allowing select traders access to funding by the firm. Some will require that traders use the investment strategy developed by the firm, while others let the investor choose the strategy as long as their choices are profitable.

Equity brokers can be found at many different types of investment firms. The expertise of the investor, and his comfort level with risk, should determine the type of equity broker he selects.

Full service brokerage firms will usually have equity brokers on staff to assist those investors who want to take a more aggressive approach to investing. These firms offer a more "hands-on" service to the client, performing market research, monitoring accounts, and dispensing advice. Naturally, their fees and commissions will be among the highest.

Many online equity brokers offer investors the ability to choose their own investments and strategies. Establishing an account with this type of broker is usually quick and easy. You can enter your trade orders 24 hours a day, 7 days a week, although they can not be executed until the market opens.

Due to the fact that equity brokers typically make many more trades than those who buy and sell for investors who are holding for the long term, fees can mount quickly. It is not uncommon for investors to find one-fourth to one-third of their profits have gone to the equity broker or his firm. Investors should perform their due diligence on all investment opportunities, but with the fast-paced nature of equity trading, it is even more critical to do so before making the investment.

Return on Equity – Financial Strategy Tips For Raising Your Return on Investment

People start and grow organizations for a myriad of reasons. One of the often stated reasons is to "make more money" and, in the case of nonprofits, "to grow and perpetuate the cause." Financially-savvy people might state "to improve ROE (Return on Equity)" or "ROI" (Return on Investment), yet most business owners only possess a vague understanding of what this truly means.

The essence of my work with clients revolves around ROE by phrasing the question in simple terms: How do we get more out of what we have?

The Basics

Technically, ROE is simply net income divided by equity (or investment). But do you know how it is derived? Basically, there are three elements that drive ROE:

Total Asset Turnover – the amount of sales derived from the company's assets.

Net Profit Margin – how much the company keeps out of what it sells.

Equity Multiplier – how much debt the organization uses relative to owners' investment in the company (equity).

Total Asset Turnover

Total Asset Turnover is what finance people call an efficiency ratio, measuring how much production (revenue) an organization derives from its assets. While every industry has its own benchmark for success, the higher the ratio, the better.

To increase your total asset turnover, measure the effectiveness of your largest assets. For retailers, the goal is to rapidly sell inventory over and over again. For companies with investments in equipment and real estate, the idea is to maximize revenue from these fixed assets.

Another, less used method for maximizing total asset turnover is to actually decrease total assets while maintaining or increasing sales. For retailers, it means carrying less inventory in smaller locations. For manufacturers, it's outsourcing certain production capacity to other companies with underutilized facilities. For restaurants, it's opening less expensive locations or finding low-cost venues for selling food.

During these economically challenged times, this is becoming a popular strategy. A recent Wall Street Journal article even featured high-end chefs who are operating "lunch trucks" (you know, the ones that usually sell donuts, soda and old sandwiches) to sell their gourmet food. Whether by choice or not, there is little doubt that this business model enjoys a higher ROE with the emphasis on reducing initial investment requirements. Another benefit is that companies can sell assets to increase cash flow or reduce outstanding debt.

The Masters of Total Asset Turnover – Some Examples

One of the grandmasters of total asset turnover is the specialty grocery store, Trader Joe's. Not only do their stores turn their inventory every 7 days, which is unheard of in the grocery business, but their smaller stores require less investment on a unit by unit basis.

Wal-Mart takes it a step further. They do not even own most of the inventory they keep in stock. Instead, the vendors own the inventory. This reduces the company's per store investment and risk. The company enjoys the same sales with less investment in assets.

Net Profit Margin

The second element of ROE is net profit margin, which is in essence, is what you keep out of what you sell.

While each industry is different, most companies operate on razor thin margins. Consumers are often shocked to hear that the average grocery store only keeps $ 1.25 from each $ 100 sale made.

For all its simplicity, many people lose focus when it comes to net profit margin. Business leaders often obsess over total sales while giving little concern to the bottom line. No one goes out of business by increasing their profit margin, but many have gone under from increasing sales. It's what you keep, not what you sell. The media is no help. During the holiday shopping season, all one hears is "sales are up over last year". How about profit margins?

The Balancing Act – ROE Nirvana

Here's where ROE gets challenging. Total asset turnover and net profit margin are often at war with each other. An easy way to increase total asset turnover is by lowering your prices. The only problem is that you run the risk of hurting your company's net profit margin.

So how do we find ROE nirvana? The answer is simple: Sell high-margin products at high volumes. Sounds simple, but the execution is far more difficult.

The trick is finding the optimal balance between the two. While there are no easy answers or secret formulas to maximizing ROE, the following tips should help your company maximize ROE.

ROE Tips

  1. The main driver for ROE? A lways work to increase perceived value on the part of the customer. New Ferraris represent a good value because customers perceive them as containing superior exotic experience and prestige.
  2. A higher profit margin may be a good thing. Or not. If you're a restaurant with a food cost of 25% while your industry average is 32%, how did you do it? If you did it by simply increasing prices, you may get into trouble if consumers perceive you as a poor value (see tip # 1) and will say (to paraphrase Arnold) "I will not be back".
  3. Your core strategy should drive your ROE decisions. Trader Joe's ROE strategy is to turn over inventory quickly by selling unique private-label food items at a small markup in small (low investment) locations. As of this writing, Apple Computer's cheapest notebook computer is $ 1,000. They do not care about market share; they care about higher gross profits for each sliver of market share.
  4. An easy way to increase ROE is to improve service quality. This increases customer purchase frequency, retention, gross sales and allows you to increase profit margins by raising prices. One of the reasons Apple is so profitable is that one gets the feeling that if you get into trouble with your iPod or MacBook, you can have one of the "geniuses" in their stores help you with a problem.
  5. Differentiate yourself. What can you provide that others can not? Or, what can you do well that others will gladly pay a premium for?
  6. What assets should be liquidated (even at a loss) that could free up capital which could be invested more efficiently?
  7. Provide incentives for performance. Frederick Winslow Taylor, the original management consultant and author of Scientific Management in 1911, developed systems that would provide 60% more compensation to superior-performing workers.
  8. Analyze every product / service you sell against percentage of total sales, gross profit margin per item and synergy between items. Keep the best, dump the rest.
  9. Excess inventory reduces total asset turnover and leads to carrying assets that are depreciating before your eyes, thereby forcing the company to sell at a lower price later (and hence, lower profit margin).
  10. Conversely, little inventory (or immediate access to it) means your customer will go elsewhere, which brings no sale at all.
  11. Carefully consider adding new products or services to your existing mix. Adding new items can increase operational complexity resulting in increased training costs, higher errors rates and potential degradation of your brand.

A Simple 4-Step Approach to Sales Success For Financial Advisors

If you are a financial advisor who has ever struggled when dealing with wealthy prospective clients, then what you need is a process or formula to follow that will enhance your success. About the only more frustrating than not having enough appointments, is blowing them when given the opportunity. That's where a formula comes in.

With formulas, all the typical human-error is removed. It's replicatable. It's like 2 + 2. When I do it I get 4. You do it, you get 4. You see, if you know that a formula works – virtually anyone with a pulse can 'plug-in' to the formula and get the same results. If you have not reduced everything you do in your business to some type of formula … then you're working too hard and will never get predictable results.

And with the right "formula" your results can become mucho-predictable. You will know exactly how many new clients and new money under management you'll have in two months; or 6 months; or 6 years for that matter. It's easy and I'll show you how and why it works for anybody, anywhere, all the time.

So let's get to what I call the Million Dollar Sales Formula …

The Million Dollar Sales Formula Step # 1 :

We've all had prospects that no matter how much we know they should work with us, for some reason or another choose not to. Often times financial advisors will beat themselves up chasing the prospect, trying to figure out what went wrong – and almost always think it's because either: A) The client's an idiot (which is sometimes true) or B) We said something wrong in our meetings / sales process

I on the other hand would contend that most our our sales failures in financial services is due to something we did far earlier than when we asked for the business (you are asking for the business, right?). Through extensive trial and error, what I've found is that we fail to make the appropriate 'first impression' before the meeting process has even begun. And that's why we lose clients that should never be lost.

How do you fix this?

By making sure you send out a packet to all prospects prior to them meeting with you. When done correctly this 'packet' can literally close 32.4% of the prospects before they even meet with you. I know, I've measured with and without and can substantiate that exact number. Let me share with you the pre-meeting components that must be executed to significantly increase your closing ratio:

An appointment reminder letter with map to your office along with instructions of what your prospect needs to do to be properly prepared for the meeting. Think of this as a welcome letter and short home-work assignment to ensure both their and your time is well spent. The cover letter should be printed on a professionally designed letterhead with a professionally designed logo, and should have your website address on it. Which, by the way, you should absolutely have a website – and it should look good and serve a purpose. To see what I mean feel welcome to visit my firm's website – there's a link with my bio.

A Confidential Personal Profile. This is what they put their name, date of birth, children's first names, and the like on. It should be no more than one page and should also ask for the names of their current broker, advisor (these are different and will make your client decide exactly what their current "advisors" are in their eyes), attorney, accountant and insurance agent . In the same section you should also give the your prospect a satisfaction scale of 1 – 5 to rate their current financial professionals.

A Confidential Financial Profile. Now this is basically what it says it is – a place for them to answer a few thought provoking financial questions, create an income statement and a balance sheet. You should also always ask what they would change about their financial situation if they could change just one thing, as well as what is truly important about money to them. The responses they give to this questionairre will prove vitally important in your meetings (note that I said 'meetings', not your one-shot-wonder single appointment slam-dunk appointment).

Your PROFESSIONAL business card. Do not try to be cute, please do not put your picture on it, and do not print your own. Your card should be on par with the finest law firm in your city, town, village, tribe … whatever. If this all sounds like a lot of work – it is !! But well worth it once you close your first BIG client.

The Million Dollar Sales Formula Step # 2 :

The Initial Meeting and Most Important 45 Minutes of Your Sales Process!

Why 45 minutes? Well, for those of you who have not studied direct response marketing … allow me to enlighten you. There's an adage in copyrighting that says the purpose of your headline (and everything you ever send out should have a headline) is to get people to read your first sentence. The purpose of the first sentence is to get your prospect to read your second sentence and so on.

The same is true of a well executed sales process.

The only objective of a first appointment should be to have a second appointment. You do this by limiting the first appointment to allowing the prospect to ask you any questions they have about you, then asking them questions for about thirty minutes, then wrapping up. If you've sent out a packet like the one described earlier then every initial appointment will have your prospects coming into your office with their completed questionairres and all of their financial statement. When you have about 15 minutes left, you simply say the following:

"Now that I know a little about you, here's what we need to do next: I'll take the information that you've completed, my notes, and copies of your statements and prepare an analysis I call a Personal MAP for Retirement. this will show you in detail the specific areas in your finances that can be improved and by how much. We'll schedule a meeting time in the next couple of weeks to go over your report so that whatever you decide to do after that you will be able to make informed decisions that will improve your finances, fair enough? "

Did you see what I just did? Did you notice the last two words? These will become the most important two words of your career, guaranteed.

If executed correctly, nobody will be able to resist that second appointment. Now some people will ask how much it costs and tell them it's free, but you'll let them know based on what you find how much they would have to pay you should they make the educated decision to engage in your services.

Seriously, this stuff makes me giddy just writing it. You should be too! In just these first two steps I've already shown you how to at least double your closing percentage with wealthy financial planning clients.

The Million Dollar Sales Formula Step # 3

The Second Appointment – Separating the Men from the Boys!

As a precursor to this meeting, here's a little tip: Make sure you send a thank you letter to the prospect for the first appointment and have it dual as a reminder of the second meeting. Follow the same rules as to the quality of the paper and the like and include another business card.

At the actual appointment, make sure you thank your prospect again for coming in, let them know it's nice to see them again – and always ask if they have any questions before you begin to show them your analysis.

The analysis should include the following (nothing more and nothing less please):

* Morningstar reports on their funds / variable annuities

* An asset allocation analysis

* A bullet-point style analysis of their taxes, long term health care needs, estate planning needs, and a quote of what you'd charge to fix their problems

And lets be honest here – everyone will have problems. Especially Million Dollar clients. If you can not look at their investments and show them how to save money on taxes, eliminate estate taxes, and improve their investments – then you need far more than an education in sales.

This step is really super-easy. The key is this:

"So as you can see Mr. and Mrs. Prospect, I've identified approximately $ 4,000 of immediate benefit to you from this analysis with another $ 1,700 each year thereafter. So there should be around a $ 20,000 benefit over the next ten years and my fee for making this happen is $ 595.00 for a step-by-step detailed plan of action. Fair enough? "

Some people will agree on the spot, other will not. Remember to never, ever, ever, ever, ever push for a close. This all has to happen very naturally. Understand that the reason people work with you is not for what you can do for them but rather or not they trust you and like you. Not many people like pushy sales people. So try your best to be very non-chalant about all of this.

And about the fee – hey, this can be whatever you want but you have to be charging fees. If your not charging fees then these folks will know instantly that the other shoe has got to drop and it's usually in the form of you selling them something for a commission. If you are fee-only this is never an issue; but if you are fee-based or commission-based you have to be charging a planning or set-up fee for taking a new client, PERIOD.

If they do not want to schedule their next appointment at that time, just tell them to think about this for the next few days and that you'll follow-up to see if they have questions.

The Million Dollar Sales Formula Step # 4

The Ultimate New Client Acquisition Process!

I've said before that I love systems and processes. They work soo well and are soo easily replicable that you must use them if you ever want to get to the big leagues of financial planning. All the Million Dollar Producers do it – so do what they do and you'll get there too.

So here's the process I use to take a new client:

Meeting Three – I have clients sign my Advisory Services Agreement (for the fee) and we create an Investment Policy Statement (for those who do not know what this is – it's basically an outline of what the clients goals are and what we will be attempting to accomplish for them as their advisor)

Meeting Four – We fill out transfer paperwork and new account forms. I always use brokerage accounts to gather the assets up and consolidate them first. The recommendations and financial plan come next.

Meeting Five – We go over the clients Written Financial Plan and Investment Recommendations

Meeting Six – A three-month review meeting

Meeting Seven – Another three-month review meeting

Meet with all clients every six months thereafter.

Holy Cow! That's A Lot of Meetings!

That's right – and they love it. This, my friends and colleagues, is what the wealthy want. They want a system, some attention, a WOW experience. An experience so different and so superior to that of any other advisor in your area.

And let's get this straight:

This process is easy. It can be learned by anyone. If you have at least one staff person (and please get one as soon as you can afford one if you do not) all you will have to do is the meetings.

Lastly, know that this system may not work for everyone. But, that does not mean you should not have a system. Always identify what you know works and remember to never stop doing those things. If you can patch together 4 – 6 steps that all work well – then you've just created your own "formula"; and that's exactly what financial advisors need to reach super sales heights.

Management and Financial Accounting

Accounting is usually seen as having two distinct strands, Management and Financial accounting. Management accounting, which seeks to meet the needs of managers and Financial accounting, which seeks to meet the accounting needs of all of the other users. The differences between the two types of accounting reflect the different user groups that they address. Briefly, the major differences are as follows:

  • Nature of the reports produced. Financial accounting reports tend to be general purpose. That is, they contain financial information that will be useful for a broad range of users and decisions rather than being specifically designed for the needs of a particular group or set of decisions. Management accounting reports, on the other hand, are often for a specific purpose. They are designed either with a particular decision in mind or for a particular manager.
  • Level of detail. Financial reports provide users with a broad overview of the performance and position of the business for a period. As a result, information is aggregated and detail is often lost. Management accounting reports, however, often provide managers with considerable detail to help them with a particular operational decision.
  • Regulations. Financial reports, for many businesses, are subject to accounting regulations that try to ensure they are produced with standard content and in a standard format. Law and accounting rule setters impose these regulations. Since management accounting reports are for internal use only, there are no regulations from external sources concerning the form and content of the reports. They can be designed to meet the needs of particular managers.
  • Reporting interval. For most businesses, financial accounting reports are produced on an annual basis, though many large businesses produce half-yearly reports and a few produce quarterly ones. Management accounting reports may be produced as frequently as required by managers. In many businesses, managers are provided with certain reports on a monthly, weekly or even daily basis, which allows them to check progress frequently. In addition, special-purpose reports will be prepared when required (for example, to evaluate a proposal to purchase a piece of machinery).
  • Time horizon. Financial reports reflect the performance and position of the business for the past period. In essence, they are backward looking. Management accounting reports, on the other hand, often provide information concerning future performance as well as past performance. It is an oversimplification, however, to suggest that financial accounting reports never incorporate expectations concerning the future. Occasionally, businesses will release projected information to other users in an attempt to raise capital or to fight off unwanted takeover bids.
  • Range and quality of information. Financial accounting reports concentrate on information that can be quantified in monetary terms. Management accounting also produces such reports, but is also more likely to produce reports that contain information of a non-financial nature such as measures of physical quantities of inventories (stocks) and output. Financial accounting places greater emphasis on the use of objective, verifiable evidence when preparing reports. Management accounting reports may use information that is less objective and verifiable, but they provide managers with the information they need.

We can see from this that management accounting is less constrained than financial accounting. It may draw on a variety of sources and use information that has varying degrees of reliability. The only real test to be applied when assessing the value of the information produced for managers is whether or not it improves the quality of the decisions made.

The distinction between the two areas reflects, to some extent, the differences in access to financial information. Managers have much more control over the form and content of information they receive. Other users have to rely on what managers are prepared to provide or what the financial reporting regulations state must be provided. Though the scope of financial accounting reports has increased over time, fears concerning loss of competitive advantage and user ignorance concerning the reliability of forecast data have led businesses to resist providing other users with the detailed and wide-ranging information that is available to managers.

NCAA – How it Started

It all started in 1905. Due to the many injuries that occurred in the rough and tumble sport of football, President Theodore Roosevelt gathered many, if not all, of the leaders of athletics in Washington for 2 conferences to encourage them to reform the rules of the sport. In New York City under the leadership of Henry M. McCracken, The Chancellor of New York University, a meeting of 13 universities met and the rules of football changed. When the second meeting convened, the 62 members established the Intercollegiate Athletic Association of the United States aka IAAUS.

In 1910 the IAAUS officially changed its name to the National Collegiate Athletic Association (NCAA). As this organization grew in membership so did its difficulties with maintaining its integrity.

A crucial time in the NCAA's history occurred after WWII. The abuse of the rules that were established to protect the integrity of the game came under scrutiny. There were infractions of the rules concerning financial aid and the recruitment of college athletes. To establish more stringent guidelines the "Sanity Code" was adopted.

It was in 1951 that it was decided that the Association needed a full-time leader who could oversee the day to day affairs of this ever growing entity. Walter Byers was named to that post and in 1952 the national headquarters of the NCAA was established in Kansas City, Missouri.

The Association flourished and grew over the years and in 1973 the members split into 3 divisions with each having legislative powers in 3 separate competitive genres. Consequently, these divisions divided into sub-divisions and the NCAA expanded.

In 1980 women's athletic team sports was added into Division I, II, and III. In 1981, at their 75th annual meeting, the women's athletic sports was voted into the Association and expanded the women's championship program by 19 events.

Over the past few years, 2003 to 2009, the NCAA was headed by Myles Brand. He passed away in September of 09 and Jim Isch was named interim president. As of this date, a permanent president has not been named.

Celebrate the National Collegiate Athletic Association at Mall4Men. We feature colleges and university members of this great organization with quality NCAA watches. Choose your favorite school and pick from a number of stylish watches with the team logo. You will be pleased with the quality of our watches and you are sure to be pleased with our reasonable prices.

Forget Billionaire and Millionaires – 3 Tips to Claim Your Status As a Thousandaire!

This article is meant to assist you to define your own financial security in life and achieve financial abundance! The essence of today's message will resonate for each person differently because financial abundance is unique for each person.

Not everyone has to be a Billionaire, or Millionaire in life to feel financially secure. Some people may strive to be Thousandaires! You may be asking, is Thousandaire a word? Well … should it be ?!

Why is it socially acceptable to label some as Millionaires or Billionaires, but we look at someone as odd if they were proud to be labeled a Thousandaire?

What's wrong with being a Thousandaire? Is it because a Thousandaire is considered the average? I know … there is no distinction between social classes with this fictitious label right? Technically, most of us are Thousandaire's!

To digress, is it on the same social level as a student touting they are an "A" student or "B" student? We are trained from childhood that being a "C" student is just average and just getting by? However should Thousandaires be labeled the same as having a C in school?

Would you not look at someone respectfully if they made an income of $ 900,000 per year? Do they not fit in as a Thousandaire by definition? Suppose that same person on paper is worth $ 950,000? To date, a six figure income is still considered upper class in America. When judging finances from this perspective, why would we frown at someone claiming to be a Thousandaire? Perhaps I will look into submitting a request to add Thousandaire to the Webster Dictionary.

The point of the article is to awaken our consciousness differently so that we can define a life-time of financial abundance! For some, abundance is having enough, while for others it is about having real wealth that last for generations.

If I were a proverbial Genie, and could grant you a wish that simply said you will never be financially broke. That you will always have enough, for any life pursuit. Every trip paid for, every material need satisfied. Imagine you could throw out your credit cards and carry one debit card that is good virtually everywhere? How cool would that be? How would this change your life? Abundance is unique for us all!

In society, we are quick to label and measure our own financial status by examining what we physically have in the bank. When you ask someone the question, what does having a million dollars mean to you? You will get a variety of answers! A typical response, may be "it means freedom," "to do whatever I want," "the ability to travel or shop when I choose." What would you do if someone gave you a million dollars?

"I would pay all of my bills, and help my family with their finances." "I would buy a house," "I would buy a car!" "I would travel!"

Most would probably agree that a million dollars is much easier to spend today verse its comparable value 30 years ago. If that is the case, then how much money do you need to define your own financial security?

Strive to define your own abundance and what it means to you! In reality, money is a form of energy that reflects how you feel about your finances. The income you attract in your life is your perception on how you feel about money and what it does for you. For example, If you feel that you do not have enough money, then you may view yourself with a life of scarcity. You never have enough to make ends meet and there is lack in your life.

Here are 3 ways to make positive changes to your financial situation:

  1. Think of changing your thought process and visualize your financial situation more positively! On a daily basis, wake up and imagine that you have a bank account that will financially support you for life. Instead of striving to be a millionaire, affirm that you want enough money to take care of all your life pursuits!
  2. Think about what you have verse what is scarce or missing. In other words, think positively about your financial situation and you will find over time your finances will improve.
  3. Also create daily affirmations that include the blessings you already have! Be thankful for your ability to attract enough money in your life!

7 Tips to Help Find the Financial Advisor of Your DREAMS!

Hiring someone to work for you is almost never an easy task, especially when it comes to your money, insurance and other personal finances. It goes without saying that there are many people out there that only care about making money, making it very important for you to always be cautious with whom you work with. You always must make sure that the people you are hiring are on your side and want to do a responsible, high quality job while always putting your best interests above all else. I could write this and illustrate all of the fantastic traits I believe a Financial Advisor should possess, but the truth is everyone is looking for something different and I am not going to pretend I know exactly what you want. I would rather provide you a guide with 7 tips that I strongly believe can help you in preparation for hiring a Financial Advisor.

What is great about this approach is that it works if you are hiring someone for the first time, or looking to make a change to someone who better suits your personality, goals and objectives. When you purchase a new car, you usually have an idea of ​​what is important to you such as fuel efficiency, color, size and price. Well the same should hold true with your search for a Financial Advisor. These tips are going to help you find what is important to you, thus narrowing down the possibilities and making your search more efficient. Efficiency is going to help you move forward towards your goals, no matter what they are. Please review the tips I have outlined below, as I believe you will find them helpful:

1. Prepare yourself!
Take the time to really know what you are looking for. Write down your goals and objectives in advance, along with your reasons for seeking a Financial Advisor rather than waiting for him or her to ask. Also, remember to have a list of questions ready for your advisor interviews. Experience has showed me that most people forget their questions until after the initial meeting, postponing the search process, decision process and the beginning of working towards accomplishing your goals.

2. Do not confuse a salesperson with a Financial Advisor.
A salesperson is one who will "sell" you something and most likely make a large commission from doing so. In many instances they are directly employed by large investment or insurance companies and are hired with the sole intention to "sell" that particular company's product alone. In addition, they may even have minimum "sales" goals they must meet, prompting them to have that goal in their mind effecting the suggestions presented to you. You should be looking for an advisor whose only intention is to lay out a plan that can potentially help accomplish the goals you have discussed with him or her, whether it is retiring to a beach house watching the sunset over the ocean or having a stockpile of cash available for the inevitable day your child steps out the front door to college. He or she should also have the ability to utilize any investment or insurance option that is appropriate for you and your objectives, not what they are supposed to "sell" to you or what they are "allowed" to provide to you that will enable them to meet any imposed "sales" goals they are working with.

3. Know what fee structure you are comfortable with.
There are many ways financial advisors can be compensated and it is important to know which you are comfortable with. The two primary methods are commissions or fees. Some advisors receive a commission every time he or she buys or sells something for you, getting paid regardless of performance. This can become quite expensive if your advisor is not completely working with your best interest at heart, but rather trying to generate income for their firms. Other advisors receive an annual fee based on how much money you allow them to handle for you. This is typically more fiscally friendly, but make sure you agree on the terms in advance because an some advisors do charge excessive fees. In this case, there is incentive for them to try and make your portfolio grow. For example, an advisor charging 1% per year, which is very reasonable, on a $ 75,000 IRA would earn $ 750 and if over time this advisor helps your portfolio grow to $ 100,000, he or she would now be earning $ 1,000 per year, or 1% of $ 100,000. The incentive is always there to put your best interests first, as declining values ​​for you mean declining fees to them and I do not know of any mortgage company that will take a smaller mortgage payment from your advisor because your balance may decline.

4. Decide how local your advisor should be?
Your financial advisor does not have to live in your town, or even your state for that matter. With today's advancement in technology, it is easy to work with an advisor who is 10 miles away or 1,000 miles away and not realize the difference. Cell phones, email, teleconferences, internet meetings and internet cameras are just a few of the pieces of technology which allow for that feeling of personal contact at any time and from any location. I suggest you determine your comfort level and establish a distance you are comfortable with prior to your search.

5. Do not solely rely on the advice of friends and family.
It is always great to hear an advisor has treated your loved ones in a professional, responsible and caring manner, but do not use this as your sole decision making point. Everyone has a different financial situation and a different personality, so an advisor who excels with your parents, may not work as well with you. Take the time to ask your friend or family member questions about the advisor prior to meeting him or her in order to determine if the fit is right for you, your family and your goals. For example, some advisors may take an ultra conservative approach to investing which works well for your parents, but you may be seeking an advisor who specializes in aggressive alternative investments.

6. Research first.
Following the website the Keep readily available: Www.FINRA.org . Deciding on a of After few advisors to interview, visit Www.FINRA.org and look for the FINRA BrokerCheck hyperlink Which Usually shows up on the right side of the website under " the Most Viewed". This will allow you to do a search for the advisors and see if there are any formal complaints and / or past disciplinary actions against him or her. This step could help you to eliminate wasted time and help you know that the person you are considering has not had any behavioral and / or legal problems. Remember, there are many non-trustworthy people in all businesses, do you really want to have one work with your finances?

7. Decide on your investment philosophy and risk tolerance.
Prior to speaking with a potential Financial Advisor, determine how you and your family feel about investing. Are you comfortable with major volatility or do you prefer minimal to no fluctuation? For example, how will you feel if your IRA was $ worth 200,000 last month and you experience a temporary decline to $ 180,000 this month? Would a situation like this cause you major emotional distress or do you feel this is normal market fluctuation? If you do not have an opinion beforehand, many advisors may try to "sell" their philosophies to you. A simple way to convey your feelings to an advisor is on a sliding scale of 1-10, with 10 being aggressive and 1 being extremely conservative.

Although there are many other tips I can offer, I feel the seven illustrated above are among the most important to consider prior to interviewing advisors. Choosing the right Financial Advisor is an important process and should not be taken for granted. We all have our own goals to accomplish in life and the right Financial Advisor can play a critical role in your pursuit of happiness and financial security. Whether you are looking to retire to that beach house watching the sunset over the ocean or traveling a path to live a stress and debt free life, working as a team with a qualified Financial Advisor has the potential to help accomplish this. I hope these tips help you meet your goals and wish you a prosperous life!