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What Do The Top Life
Producers Know That You Don't...
The Real Money Is In Serving Middle Income Families!
John Jacob Aster,
one of the richest man in the world in his time, said...
“Serve the classes, live with the masses.
Serve the masses, live with the classes.”
During the past
30 years, most of the major insurance companies, independent marketing
organizations (IMOs), insurance agencies, sales trainers, sales system
providers, industry support organizations and it seems that practically
everyone in the financial services industry has shifted their focus
away from serving Middle America. They are now focusing the majority of
their marketing efforts and training, on attracting and serving
prospects in the more affluent markets. They’ll tell you that they
believe that’s where agents and advisors can make the most money,
quickly and with the least amount of effort and expense. Everyone seems
to want to believe that, because these people have more money and they
have more discretionary dollars, they are an easier sale. If only it
were true and that easy!
Reality Of Their Decision…
To begin with, is
there any question that there are a lot less prospects in the more
affluent market segments? When we talk to most advisors they believe
that we are talking about the top 5% to10% of the U.S. population,
which if it were true, would give them an abundance of prospects to
reality of the situation is that, only 1 in 125 Americans have more
than $1 million in financial assets such as stocks, bonds, bank
accounts, real estate and businesses they own. That’s based on a study
published by Capgemini and Merrill Lynch & Co 2005. Only about
2.5 million Americans, or less than 1 percent of the population over
age 15 are millionaires. The report did not factor in the value of
people's primary residences, which obviously would increase the number
of millionaires. And, because many of these millionaires have their
assets tied up in their businesses and real estate, there are even less
of these people who have liquid assets to invest in or purchase your
With all the
insurance agents and financial advisors moving into the more affluent
markets and chasing the top 0.5% - 1% of the population, is it any
wonder that most of these agents, advisors and planners are struggling
to make a decent living? It has gotten extremely competitive in the
affluent markets. You just need to take a look in your local newspaper,
on a Sunday, to get an idea of how many financial services
professionals are currently offering annuity and investment seminars
every month to the affluent markets! And, then to compound the problem,
isn’t it where you will find the most competition from banks,
attorneys, accountants, investment brokers and all the get rich quick
When Tom Stanley
and William Danko, the authors of The Millionaire Next Door, decided to
investigate how people get wealthy, they found something extremely odd.
They found that many of the people who live in the upscale
neighborhoods and drive luxurious cars do not have extreme wealth. They
are not millionaires. Most of them are living well above their means.
They are spending more money than they are making in order to maintain
the appearance of being wealthy. The truth is that, like most people
today, these people are struggling every month just to make ends meet.
Capgemini/Merrill Lynch report also broke out how these very rich
people allocated their assets. These millionaires put 34 percent in
equities; 27 percent in fixed-income investments; 13 percent in real
estate investments; 14 percent in alternative investments like hedge
funds, foreign currency and commodities; and kept 12 percent in cash or
Group survey found that more than 35 percent of the affluent are
retired and 36 percent are business owners. The overwhelming majority,
86 percent are married, and the mean age is just under 56.
According to a
report from the Economic Policy Institute, The State of Working
America… “64 percent of American households have stock holdings worth
$5,000 or less, or own no stock at all.”
So, Where Can You Find and Make The Most Money?
If you want to
find and make more money, you’ll want to serve Middle America. We are
talking about the top 50% or more of the US population, that is 50 to
100 times the amount of prospects available in the affluent markets.
Obviously, that means there are a lot more prospects for you to see.
And, there is a lot less competition from the other financial services
The only problem
with servicing Middle America is that in order to find the money it
requires you do a lot more work with the prospect. Many, if not most of
these people are living above their means and they are drowning in
At first glance
it would appear, that the majority of these people do not have any
discretionary money. But, in most of the cases appearances are
deceiving. They do have discretionary money! You just have to learn how
to help them find it! It’s about helping Middle America to understand
the problems they face today and then helping them to prioritize where
they spend their money.
In most cases,
you can help them to find the money ($3,000 to $12,000 per year) if you
know where to look. And, you can do it all without taking additional
money out of their pockets or changing their current life style. It’s
simply a matter of helping them to re-allocate where they are spending
their money unnecessarily.
Middle America Needs Your Help
on the problems facing Middle America…
US Savings Lag -
64% of full-time U.S. workers are either behind in their retirement
savings, or haven’t yet started. Widows in particular are likely to be
behind - 70% are living “paycheck to paycheck.” MetLife
Employee Benefits Trend Study
By Fear – 95% of Americans have some financial-related concerns when it
comes to retirement. 42% expressed fears related to retirement income:
either that they will run out of money prematurely, or that they will
have to downgrade their lifestyle in retirement.
NAVA Financial Retirement Fears Study
Wrong priorities – 70% of Americans are most concerned with short and
midterm financial spending, while placing retirement savings at a
distant third priority.
Prudential Financial “Roadblocks to Retirement” Study
Study and Comments
LIMRA 2013 Study… Life Insurance Ownership Remains Low - Less than
half of middle market consumers ages 25 to 64 have individual life
insurance coverage. Forty-four percent of those without life coverage
say they need it, and 3 in 10 think they might buy in the next year.
Generation Y consumers are the most likely to purchase life insurance.
A message from Bob Kerzner,
President and CEO of LIMRA International.
more than simply income planning. People must also prepare for the
potentially 'dangerous highway ahead' that may include outliving one's
assets, health risks and long-term care needs, inflation and other
pitfalls. Most Americans have not saved enough to retire as comfortably
as they would like to.”
"We need to
respond to their failure to save. To point out, especially to younger
consumers, that the way to a great retirement is through systematic
savings, not hot investments that boom today and bust tomorrow.
Companies should do more to educate consumers about retirement. They
need to know the risks they face or they will not be able to create
that retirement paycheck, plan for long life, or rely on their personal
savings for retirement.”
“ I believe those
companies that start looking more at the totality of retirement are the
ones that will do better. People want a lifestyle, a great retirement,
not a specific product. They will buy a product only if they see how it
will get them the retirement they envision."
the classes, live with the masses.
Serve the masses, live with the classes.”
John Jacob Astor
The more you learn, the more you’ll earn!
Do you remember
your Mom and Dad telling you; “Study hard and you will earn more!” It’s
one of those irrefutable facts of life!
possible that a few simple changes in your marketing could make a big
difference in your livelihood?
Message to Financial Advisors…
If I were forced to start over from scratch, no
matter what product I was offering, whether it was investments, health
insurance, P&C insurance, LTCI, DI, annuities or life
insurance, I would do some research and determine how I could best help
the people in my local
community. What’s the biggest problem I could
solve for them? Then, I would do everything I could do to position
myself as the expert in that area.
Here Are The Top 5
Ways I Would Use To Generate High Quality Leads…
I would start by asking my friends and family for
their help. Would they allow me to practice on them and give me an
honest opinion/feedback of the service I am offering?
I would invite everyone I know to a Free Seminar or
Educational Workshop. People feel better about coming to seminars than
meeting with a salesperson face to face.
I would establish a Joint Venture with a local
business that caters to my ideal prospects and get them to endorse my
services to their best clients.
I would ask everyone I know and meet for referrals.
I would send a monthly newsletter to everyone I
know and meet.
People buy when they are ready to buy, not when you’re ready to sell!
So, if you want to sell them, you must be in front of them when they
are ready to buy!
Do these lead
generation strategies work?
The answer is yes! During the past decade, have helped
more than a thousand insurance agents and financial advisors each
year to double and triple their incomes
...even in this recession?
In fact, the top producers, we work are earning
over $1,000,000 and many others who
were earning $40,000-$60,000 per year, now earn $150,000-$350,000 per
year. And with our life insurance marketing,
branding, leads, appointment setting and sales systems, you can do the
And we’ll be by your side every step of the way.
Guide To Found Money Management
now, because you will be surprised at how quickly
you can be attracting a steady
stream of the RIGHT life
insurance prospects and be 'finding
the money' to close large life insurance sales... for ‘Missed
Fortune’, ‘Infinite Banking’, ‘Circle of Wealth’, ‘LEAP’ and
Marketing and Sales Coach
Message... While most
insurance companies, IMOs, agencies and brokerage firms do have the
products, tools and training you need to make some quick
insurance sales, once you're in front of a qualified life
insurance or annuity prospect, what they don’t have are proven,
transferable life insurance
marketing and lead systems. Plus, they don't offer marketing,
branding and lead generation programs to help you attract a
steady stream of the right, high quality insurance prospects,
and can afford what you are offering right now!
Instead, they want you to give them a list of 100
or more of your closest friends, relatives and acquaintances. And, when
you're done meeting with them and the few referrals you may get, then
it's 'Dialing For Dollars' time.
Or, you’re forced into purchasing high cost, low quality insurance and
annuity leads and using expensive, inconsistent direct mail campaigns.
So, if you really want to succeed today, then isn't
it up to you to get the life insurance marketing, prospecting,
appointment setting and sales systems, tools, tips and training, with
personal coaching you need to consistently attract a steady stream of
your 'IDEAL' prospects to you?
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understand and solve the financial problems they are facing now and in
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over a dozen years in the financial services industry, I learned from
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Expert Guest Article
What You Can Do For A Better
By Forrest Wallace Cato,
his lifetime America’s most famous motivational writer Napoleon
Hill developed many excellent rules for obtaining
success. Hill made his place in history
by creating rules. He even ghost wrote one rule for President
Franklin D. Roosevelt: “The only thing we
have to fear is fear itself.” This ghost written
rule became President Franklin D. Roosevelt’s
best known saying. One of Napoleon Hill’s
rules was, “Always deliver more than you promise.”
His best known rule is most likely, “What the mind of man
conceives, and he believes, he can achieve.” While
editing the classic book How To Sell Your Way
Through Life by Napoleon Hill,
I realized that the essence of his wisdom was embodied in the rules
this book contained.
America’s history some prominent leaders created rules for personal
achievement or living. George Washington
wrote 110 Rules for Civility.
People expect and appreciate helpful rules from leaders.
These rules derive from the unique perspectives, observations, or
experiences of their authors. These rules were used to
further build the image, fame, or name recognition of every leader
providing the rules. Every major leader since the founding of
America has been careful to influence, control, or manage his or her
image. Often they use a printed set of rules to help them
Failing To Make The Connection Means Failing
professional Brett Kramer explains, “Rules
are very important. They result because of civilization’s
progress. From The Ten Commandments, to Roberts
Rules of Order (for running meetings and conferences), to the
Marquis of Queensberry Rules (for
boxing), rules most often exist for maintaining standards or achieving
success in some area, such as investing success, box office success,
small business success, corporate success, dating success, management
success, debating success, etc.”
Fakharzadeh, RFC, the beloved MDRT hero and sales super-star
adds, “Most agents and planners simply can not make the
connection between being well-known in their market in a positive way
(famous) and increased sales. They can not understand
this. They know water can make you wet. They
realize that over-eating the wrong food can make you fat.
They understand that drinking too much can make you drunk.
Most are aware that smoking can give you cancer. They
understand those connections.”
continues, “But they just can not mange to understand the
connection between fame in their market and increased sales.
Enough desired local recognition and respect and you can become the
sales leader in your market. But few agents and planners are
able to understand this. They fail to realize that they can
do precisely what many famous leaders did and obtain far greater sales
results. So they do not value the efforts necessary to
create, establish, and maintain an image as the leader in their
market. They do nothing significant to accomplish
this. And the existing market leader continues to capture
many of their sales.”
most reprinted article was written in 1987 and is titled Cato’s
Rules For Meeting Famous People. The
people requesting copies or asking to reprint this article are most
often athletic coaches, teachers, professors, Boy Scout and Girl Scout
leaders, insurance companies, sales trainers, then artists, agents and
rules are assumed to be success rules. Abraham
Lincoln had Rules of Conduct,
Mark Twain had Rules
of Writing, and there are many others. General
George S. Patton had Seven Rules of Success.
Among current famous names with rules are Steve
Job’s 12 Rules for Success,
the Dalai Lama’s 18
Rules for Living, General
Colin Powell’s Rules for Success,
Joe Girard’s 13
Rules to Success, Harvey
MacKay’s Rules for Success,
Zig Ziglar’s Sales Rules,
and there are many more people who use rules to enhance their image.
“set of rules” is one “tool” a leader can use to help establish and
maintain a desired image. Jeremy, Will and
Lew Nason, of the award-winning Insurance Pro Shop®
often distribute copies of Thomas Jefferson’s 10
Rules. You can even use someone else’s
rules to promote yourself. Here are Thomas
Jefferson’s 10 Rules
Never put off until tomorrow what you can do today.
2. Never trouble another for what you can do yourself.
3. Never spend money before you have earned it.
Never buy what you don’t want because it is cheap.
Pride cost more than hunger, thirst and cold.
We seldom repent of having eaten too little.
Nothing is troublesome that we do willingly.
How much pain have the evils cost us that never happened.
Take things always by the smooth handle.
When angry, count ten before you speak; when very angry, count to a
IARFC and financial planning hero Harold Franklin
Chorney, RFC, was named after Ben Frankklin
and has researched the ancestry of this founding father. Hal
keeps a copy of Benjamin Franklin’s 12 Rules
on his office wall. Hal has also
framed and displays one rule by the great sales legend Mehdi
Fakharzadeh, RFC: “The impossible
takes a little longer.” Benjamin
Franklin’s rules are as follows:
Franklin’s 12 Rules
Finish better than your beginnings.
All education is self-education.
Seek first to manage yourself, then to manage others.
Influence is more important than victory.
Work hard and watch your costs.
Everybody wants to appear reasonable.
Create your own set of values to guide your actions.
Incentive is everything.
Create solutions for seeming impossible problems.
Become a revolutionary for experimentation and change.
Sometimes it is better do 1,001 small things right than only one large
Deliberately cultivate your reputation and legacy.
Because my writings have been published in many parts of the world, my
list titled Cato’s 20 “Always” Rules
has appeared in many countries, again-and-again. This list
has been translated into twenty-two languages. These are my
basic rules for achieving more in your endeavors. My rules are
very elementary and often involve basic communication skills and
positive image projection.
Cato’s 20 “Always” Rules
are all based on common sense. I compiled these during thirty
years of speaking to financial professionals about improving their
image. I noticed that many of those in my audiences needed
these simple reminders. Your mother should have taught you
these basics. Amazingly, today most people in any profession
do not realize the importance of these “obvious” rules and most people
do not practice them. Show me a person who practices all of
my rules and you will be showing me a winner. It is
impossible for a person to practice these simple rules and be a
failure. My simple, but essential rules are:
Forrest Wallace Cato’s 20 “Always” Rules
Always look directly into people’s eyes.
2. Always hold your shoulders back.
3. Always speak-up, speak correctly, and convey sincerity.
4. Always be relaxed and non-threatening.
5. Always project confidence and authority.
6. Always know absolutely what you are talking about.
7. Always be on time and properly dressed.
8. Always wear shined shoes and have a proper hair cut.
9. Always avoid presuming to have an immediate answer for everything.
10. Always encourage the other person to speak.
11. Always ask logical and intelligent questions.
12. Always listen attentively.
13. Always work an honest compliment into your conversation.
14. Always be encouraging.
15. Always be reassuring.
16. Always acknowledge the other person’s input.
17. Always practice productive “success” habits.
18. Always pay attention to your desired image.
19. Always do your research or homework and then deliver.
20. Always make the other person look good or feel good.
Your Own Set of Rules And Use Them In 2015
Norman G. Levine, RFC, the man who built more insurance
agencies on both coasts than any other person in history, says, “The
secret to your sales success is your continuing intelligent efforts to
promote the image of yourself in your market area as the local
leader. Many agents and planners, possibly most, never
understand this during their entire sales careers.”
you are the leading financial advisor in your market area, or you are
becoming the leader in your market area, therefore you are a prominent,
important, and respected professional. So if you can make the
connection (between local market status and increased sales) why don’t
you create your own rules? That’s right, create your own
rules and merchandise them to help spread awareness (in your market
area) of your fame and knowledge. Don’t copy from Hill,
Jefferson, Franklin, Cato, or etc., but create your own rules
that relate to what is unique, special, and precious about you or your
Your Own Set of Rules To Help Promote You
Once created you can use the page of paper containing your printed
rules as a tool for many years! Your rules can be on
parchment on plain bond paper. Your rules can have your photo
and signature and address and slogan and a few other lines in small
print. Add your rules to your arsenal of items that promote
you. Make this an impressive and classy piece. You
might consider often working your rules into many of your talks,
appearance, and presentations.
There is no reason why you should not have and frequently use your own
rules. Doing this enhances your desired image. If
your rules are original then this becomes a very impressive item you
can use with prospects, clients, associates, students, Boy Scouts,
business groups, market targets, etc. You can base your rules
around your family history, your personal experiences, your work, your
philosophy, etc. Merchandise your rules. As with
most anything they are useless if not used. You can make your
rules available to groups for no cost, have them published in the local
newspaper, reprinted in volume for local associations or influence
centers, provide them to hospitals and colleges, place them on your
Media CD, in your Press Kit, use in your mailing, post on your web
site, send out a news release offering a copy of your rules on
of the top achievers I know are life-long learners. Looking for new
skills, insights, and ideas. If they're not learning, they're not
growing... not moving toward excellence."
Updates For Our Member's Only Private Site
Insurance Marketing and Sales Resource Center™
10 Deadly Mistakes for College Planning!
10 mistakes families make in preparing for college.
2014 LIAM Fact Sheet
2014 LIMRA report on Life Insurance Statistics
2013 LIAM Fact Sheet
2013 LIMRA report on Life Insurance Statistics
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