Important Message... There is a huge difference between the self-proclaimed experts who are really
recruiters in disguise
will promise you
everything to get your business, verses people
who have over 30 years
of experience training advisers and are actually
dedicating their lives to helping you to succeed
this business. We are dedicated insurance marketing and sales trainers,
coaches and mentors... NOT
Advisers Are Making Today!
So far, we have covered 5
huge mistakes that
are keeping most advisers from reaching their full potential in
this business. These huge mistakes are what is keeping most
advisers from consistently earning a significant six-figure
Have you really looked at what you are doing? Are
you making any or all of these huge mistakes? What are you doing about fixing
Mistake #1... Believing
that your IMO, Insurance Company, Organization, Manager,
Recruiter or Broker/ Dealer is going to provide you with the
tools, tips, training and coaching they need to be successful in
this business! http://www.insuranceproshop.com/NL/06-25-13.html
#2... Relying on
someone else for your sales leads! http://www.insuranceproshop.com/NL/07-02-13.html
Mistake #3... Is NOT staying
in constant contact with your current clients, friends,
neighbors, family, prospects and everyone you know! http://www.insuranceproshop.com/NL/07-09-13.html
Jumping into providing the solution before the client recognizes and truly
understands the problems they are facing now and in the future.
Believing the hot, new sales ideas and programs like LEAP, Circle of Wealth, Infinite Banking,
Missed Fortune, Tax-Free Retirement, College Funding and
others are going to make you an overnight success.
Think about it...
If this business were really about having the best products and/or
hot new sales ideas, like people are telling you, then why are
the new advisers still failing and why is the average income for
advisers still only $40,000-60,000 each year?
However, that doesn't have to apply to you. You have the choice
to be ultra successful, or just average. It's entirely up to
you! You can sit back, do nothing and hope that things will
change. Or, you can take action right now to make things change!
What have you done in the last sixty days to increase your sales
ready to learn Huge Mistake #6, then let's go!
The #6 huge mistake
advisers are making today is NOT conducting a complete
annual review with their existing clients.
In today's highly
competitive marketplace, you'll never be able to significantly
grow your business if you're losing clients. More than ever
before, firms are growing their businesses by going after people
who are dissatisfied with their current advisors.
That's why, in order to
succeed today, you must focus on cultivating client loyalty
and developing lasting relationships. Trust fosters
loyalty and builds relationships - but how do you build that
kind of trust with your clients?
The client annual review
is one of your best opportunities to start building trust. And
yet, most financial advisors routinely downplay its
The main purpose of the
annual review is to assess un-met needs, identify changes and
discover areas of dissatisfaction. Then, you’ll want to use this
knowledge in ways that strengthens trust and deepens the
Why is annual review so
Peoples’ lives change,
they marry, they divorce, they die, they have babies, kids go
off to college, they win the lottery, they get sued, they
retire, they start businesses, and they buy houses.
they lose focus on their goals. Every one of these events
generates a reason for updating a financial plan. Without seeing
your client at least yearly, you will never know of these
changes and never “get the business”.
There are four key
truths in this business...
No matter how good
you are, you’re not going to get all your prospects business
during the first sale... There is always more business
to write! (Disability Insurance, LTCI, Wealth Transfer, IRAs, 401k Transfers, Roth
Conversions, Life Insurance, etc.)
Somebody else is
trying to sell your clients and replace your business...
When your business is replaced, not only do you lose that
sale, but future sales, renewals (trailers) and referrals!
People are not
really your client, until they buy from you 3 or more
times... The more people buy from you, the more loyal
they become... the more they’ll buy from you… and the more
they’ll refer you to the people they know!
do change... New jobs, dependents, homes, attitudes and
concerns, which provides you with more sales opportunities!
Most advisors are so
focused and busy with bringing in new clients, they are totally
neglecting their existing clients. And, then they wonder why
they aren't getting any calls from their existing clients… or
Yours in success,
Will, Jeremy and Lew Nason
"The 9 Out of 10 Guys"
Not sure we can help,
or if our services are right for you... Don't
Call us Toll Free to schedule a
No Obligation, Free 15 Minute Consultation with Lew or Jeremy.
We guarantee you'll be glad you did! 877-297-4608 (M-F, 9AM-5PM, EST)
During the past 14 years, with our affordable programs and individualized coaching,
we've helped over a thousand agents, advisers,
planners and 'MDRT' members EACH YEAR to double and triple
their incomes within 60-180 days
...in spite of this
The top advisers, we worked with last
year, earned 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
affordable insurance marketing and sales systems, ongoing one-on-one training and custom coaching, you can do the same.
And we’ll be by your side every step of the way.
Last Chance To Register For The August TAST Boot Camp
Become The 'Trusted Adviser' People
Want To See!
Plus, Earn 2 Prestigious Industry Designations!
August 14, 15 & 16, 2013
"I am finishing my finest personal
production year ever,"
"I am finishing my finest personal production year ever, and that
is directly attributable to the change in marketing efforts I have
instituted since meeting Lew and Jeremy. (Trusted Advisor Success
Training™) After 25-years in this business I guess I have proven
that you can teach new tricks to an "old dog."
Tony Brazeal, RFC, RFP, (MDRT
Member) - TX
President, Pathfinder Group, LLC a national brokerage agency
The Famous Classic
BUT FOR A MERE DROP OF INK
AND A SLIGHT MOVEMENT
OF HIS RIGHT HAND …
Jim McCarty, International Sales Trainer
Years later Forrest
Wallace Cato, whom many critics call “the conscious of
the financial industry,” wrote “Shortly after that
devastating and highly destructive mine explosion took place in
the coal mine near the Buckhannon River in the Appalachian
mountain range near Sago, West Virginia, a great explosion of a
different, and far more promising nature, could have taken place
in the financial world of Martin Toler’s family.”
That explosion, of course, would have been the great eruption of
cash that would have occurred if Martin had but signed
the life insurance application, and if he had made just one
In a perfect world, I am
certain you will agree that an event which causes a financial
problem, should in fact, be the same event that brings in the
money to solve the problem. And, such would have been the case
if the financial advisor who visited with Martin Toler
around the holidays, would have convinced him to buy.
When rescue teams finally
broke through the wreckage of the collapsed mine shaft, and
located the men, 41 tedious hours had passed. Of the 13 original
miners who went into the ground that fateful morning, twelve
never made it out alive. There was but one sole survivor. He was
twenty-six year old Randal L. McCloy Jr., whose young age
and excellent physical condition, it was thought, probably saved
This hapless story of
heartbreaking death and destruction, caused me to reflect back
to my early days of grade school when fellow classmates and I
enjoyed an exercise known as “Show and Tell”. During the
course of this spellbinding program, students would bring their
favorite toys and keepsakes to the front of the classroom, where
they showed off their prized possessions to the other children.
The sessions were fun, and the presentations were meaningful. As
I mentioned, they called the performance, Show and Tell, and it
was effective! They didn’t call the production “Tell and
Tell” because that is not!
Simply put, in the serious
world of highly competitive selling, tell and tell isn’t an
effective way to drive home, or make an uncompromising point! In
spite of this underlying truth, most financial advisors with
whom I interact today cannot seem to break the habit of verbose
pontification during their sales presentations. An addiction
that has proven to be feckless and unproductive at best!
Which brings to mind the
famous demand shouted by, Cuba Gooding Jr., in the movie
Jerry Maguire. “Show me the money!” he
emphatically declared. Most of us who recall this memorable
passage, would definitely agree with me, I’m sure, that Mr.
Gooding’s provocation would not have been nearly as
impactful if he were to have simply asked, “Tell me about the
Reading “between the
lines” of the various newspaper accounts and reports about
the Sago Mine disaster which took place only seven short years
ago, I pondered the fate of Martin Toler Jr., and the
feebleness of using “tell and tell” as a decisive
strategy in the ambitious world of professional selling. Giving
credit where credit is due, Mr. Toler was undoubtedly
told by the agent about life insurance, and was probably well
versed by the salesperson on how the product worked. Presumably,
because of the telling, in lieu of the showing, however,
Martin chose not to make the purchase. Whether this is true
or not, we do know, with some degree of certainty, that the
agent’s sales presentation most assuredly lacked the emotional
clout necessary, to convince Martin to acquire the life
insurance he and his family so badly needed.
Because of this
interesting scenario, whereby an agent, or a financial advisor,
fails to convince a prospect to buy, I couldn’t help but think
of how this cataclysmic story would have provided a much happier
ending if the salesperson would have persisted and closed the
sale by showing Martin just how much better off his
family would have been if a large sum of money, proceeds from
the life insurance policy, deeply discounted dollars for future
delivery, if you will, would have been bestowed upon his family
when he died.
You’re Prospects Think
Forty-five years ago, when
I began my life insurance sales career, agents knew that their
prospects thought in pictures. As Forrest Wallace Cato
has often pointed-out, “Successful sales people make it easy
for prospects to see the picture. Successful agents and
planners, in the country or city, all draw convincing
illustrations on paper bags, legal pads, school notebook paper,
restaurant placemats, cocktail napkins, and even airline ticket
stubs, in an effort to close their recommendations.”
Realizing that the more
they engaged their prospects in the sales process, the more
these folks would
actually sell themselves, agents encouraged their
customers to perform simple math calculations, grasp on to
cooking spatulas when they discussed plans for retirement, and
even play with alphabet blocks to clearly demonstrate and show
the workings of money, with emphasis on having enough, when
these prospects and clients would want it the most. In addition,
life insurance agents back then, displayed real money during
their presentations, and some actually gave away samples of the
loot! Because of these rudimentary activities, awe-inspiring
closing ratios were commonplace.
Fortunately, for the
financial services industry of today, their laser focus on, and
their preoccupation with, internal rates of return, taxes,
mutual funds, annuities, REITS, ADRs, M&E charges, BETA factors,
professional designations, C.E. credits, and retirement
planning, etc., has led to astronomical levels of assets under
this great gathering of treasure was accomplished at the
of real world sales skill building which was bypassed in the
process, and therefore not engrained in the character of these
companies’ life insurance producers. As a result of this
neglect, current life insurance sales within these financial
services companies are now abysmal by most critical standards.
This dearth of sales prowess in this arena is evidenced by the
fact that one of the top ten largest financial services
companies in the United States today, who happens to own a
prominent life insurance company, recently reported that 87% of
all their written life insurance recommendations go
unimplemented each and every year. Furthermore, that particular
company’s average size life insurance policy, currently being
sold, sports a face amount of less than $300,000, and 94% of all
their clients have no life insurance with this specific company
at all. All this, in spite of the fact, that 100% of their 3
million plus clients own that particular companies investment
products and/or annuities.
By the way, it might be of
interest to note, that I am a raving fan of this prolific
investment company, and the expertise which they have clearly
demonstrated by gleaning and successfully managing their over
$750 billion in assets. I also applaud their field force, for
encouraging clients to save for the future.
With this in mind, and as I draw this thought provoking missive
to an end, I offer an observation, and extend a challenge to all
financial advisors who possess a valid life insurance license in
the states where they choose to do business. My observation is
that every one of these jurisdictions requires and emphasizes
that “to sell life insurance products, all individuals must
have a state insurance license”. Evidently, no license is
required in order to tell someone how insurance works.
Furthermore, no license is required by any state in order to
describe a policy fee or to tell anyone about the contract’s
tenth year interpolated terminal reserve. The license is
conveyed for the express purpose of selling the product! That
is, opening and closing the life insurance sale!
Which leads me to my
challenge. While investment and life insurance companies
concentrate on building bigger and better entities, you, as a
salesperson, must invest your time, money and energies building
a better and more effective you. You must invest in yourself,
and learn your trade. You must heighten your readiness level and
hone your sales skills. Your clients expect it, and you have a
moral obligation to provide it. My challenge? Every time you
open a life insurance case, think of Martin Toler, and
close it! Because, every day, somewhere on this great, wide,
wonderful world in which we live, thunder rumbles in the
mountain. Prepare yourself and your clients for the storm!
Sell more life
insurance! You will be happy you did!
End of Part II
Insurance Marketing & Sales Resource Center
What Every Adviser
Ought To Know About Growing Their Business, Increasing Their
Profits And Gaining A Competitive Advantage!
We are trying to make it
as affordable as possible for you to take your insurance and
annuity sales to the next level. Now you will have access to the
latest video training on how to Attract and Set
Appointments with your IDEAL PROSPECTS. Plus, how to
conduct a thorough Fact-find to get your prospects
emotionally involved, so they want to take action right now. No
more hearing; "I've got to think about it!" Couple that
with our Dynamite Referred Lead System, FREE Client
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sale was for $24,000 commission, not a bad day!!!"
"I just made a
large (for me) annuity sale that would have not been possible
had I not used
your website (the
Insurance Marketing & Sales Resource Center)
and your coaching advice.
I have learned to listen
much, much, more than talk. The sale is made by them not me. And
importantly I did the right thing for the client because
they will be earning much more income
and saving a bundle on
taxes. So, you not only helped me, but the client.
Oh, by the way, the sale
was for $24,000 commission, not a bad
This is only step one in the planning process,
the life insurance review will generate another smaller, but
Brian H. - PA
8 Steps To An Effective Annual
There are 8 steps to an effective
annual review that will lead the client and the process in the direction you
want it to go.
1. Booking the Annual Review…
The key to booking annual client reviews is to make it necessary - not
optional. Your assistant should say something like “Hi ______ I’m Sara from
Joe Smith’s office, He asked me to contact you and schedule you to come in
for your annual financial checkup. There were a few things he wanted to
double check and a few things he wanted to discuss with you. Are mornings or
afternoons better for you?”
Having an assistant is absolutely key!
They will be accountable for keeping the program on track, and booking your
Do not try to book your own
appointments, because they’ll start asking you questions to decide if the
annual review is really necessary.
2. Warming Them Up…
You must get the relationship “rekindled”. You can’t just jump into the
process. Take the time to catch up with your client. Find out what has
happened in their lives over the course of the last 6 months or however
long it’s been since you’ve seen them.
If they ask questions about you,
answer the question quickly and turn the conversation back to them. Get them
talking about themselves. Ask questions and let them do the talking. Find
something you have in common with them.
It’s an amazing phenomenon. When
people talk about themselves, they feel connected to you and ‘like’ you
because they feel like you understand them, not because they understand you!
Don’t rush thru this step. This is a
foundational step and extremely important. Don’t discount or dismiss its
importance in the process!
3. Reviewing Your Clients Situation
Whether you initially just sold them a product, or you did good fact-find
during the initial sales process, now is the time to do an in depth
fact-find. You want to review everything… of all their financial holdings,
insurance policies, pensions, 401ks, IRAs, savings accounts, tax returns,
Typically, you’ll start by reviewing
and reaffirming their short-term goals. Examining what if anything may have
changed. In some cases, you will make changes to a client’s investment
portfolio based on economic conditions. In other cases, you may suggest
changes based on certain life events. The birth of a child or grandchild may
require a discussion about funding a college plan. A divorce may require
changing beneficiary designations on retirement accounts and life insurance
policies. It also helps you to create the “path” and uncover potentially
missed opportunities for sales.
Then you will examine a client’s
progress toward their long term-goals. This sort of monitoring benefits both
you and your clients. Clients get an opportunity to step back from their
busy lives and review their goals and confirm that their priorities remain
the same. You have a chance to reconnect with your clients to affirm their
positive actions towards their goals, or to help refocus, so that they don’t
get too far off track. And you get a chance to enhance the relationship and
4. Educating Your Clients…
Here’s where this whole process culminates into potential business. You
should be a student of the economy and market forces. You should also be
able to disseminate current events in digestible nuggets for your client to
understand. With this information, you will move them to action.
Educating your client about current
economic chaos and market forces builds a natural bridge for a conversation
about the need for safe money. When you have agreement from them on the need
for “safe money strategies” based on the current market climate, you have an
opportunity to show them vehicles that will fit like a glove and help them
accomplish their financial goals.
In addition a you may want to review
with their clients the new research that has become available in the interim
to either confirm rationale or provide a basis to alter a client’s
short-term or long-term strategies. For instance, new research that shows
the escalating costs of nursing homes or health care in retirement wouldn’t
change the goal of “secure long-term retirement,” but it would change the
strategy to achieve that goal.
Advisors should also address
regulatory and other changes that could affect adversely or positively a
client’s financial plan. For example: changes in the federal estate tax
laws, income taxes or social security and devise possible plans of actions.
5. Giving Them Free Sound Advice…
If you want to create more trust and respect for you and your services, then
talk about and give advice on things you don’t make money on. Talk about the
need for a Will, Trust, Living Will, Durable Power of Attorney, etc. Or, why
buying a two year old car is better than, buying the latest model. Share
what your are doing to save money and why!
6. Planting Seeds for the Future…
Discus their long-term goals and the next steps they may want to take to
accomplish those goals. Share what you are doing to achieve your long-term
goals and why!
7. Getting Referrals…
The amount of referrals that can be generated with annual reviews will
astound even the master referral generator. These referrals will keep you
with a steady stream of prospects so you will never have to spend money on
leads or marketing ever again.
If you are a seasoned producer looking
to turn your business into a thriving 100% referral generated practice, then
you must conduct regular annual reviews.
8. Managing Your Clients
In most cases, you and your clients will want to establish a regular
appointment to meet on an annual basis, and in some cases on a quarterly or
semi-annual basis. If you don’t see your clients yearly, they aren’t
clients, they are just customers.
The last part of the business
conversation should outline and establish how often the client wants and
needs to be seen. “A” clients are usually larger clients with more
moving parts to their financial portfolio. With change in their lives and
portfolios, comes the need and opportunity to reposition assets. This is
less about an opportunity to generate commissions and more about doing what
the client needs. It just so happens that with doing the right thing for the
client comes the opportunity to do the right thing for yourself! It’s funny
how that works!
Establish a schedule for how often you
will meet. At the conclusion of the review, they should know when they will
meet with you again. Preferably, set the appointment before the end of the
If you manage their expectation, let
them know what to expect, you are filling your appointment book well in
advance, and training your client to be prepared to meet with you.
Essentially, you are removing obstacles to the sales process before they
Yours in success,
Jeremy, Will and Lew Nason
"The 9 Out of 10 Guys"
"Lew helped me close $16,800 in commissions in 2 weeks!"
"Lew’s coaching and
system has helped my practice immensely! Learning from Lew on
ask questions the right way, helped me close $16,800 in
commissions in 2 weeks! Thanks Lew!"
Ron Fara, RIA - IL
(9 years in business)
"Allstate has spent a ton of money on similar programs,
but in my humble opinion, what you offer is much better."
"Lew, I recently
Advanced Fact-Finding Video... I have been on two
so far and used the methods you described. It was
surprising how the folks opened-up. Not only
were their defenses
totally down, but they actually stated that they liked the
and questioning process to find out what
their needs/concerns were before they were asked to buy
anything. In both cases the customer actually told me what they
were going to buy... By the way,
I am going to recommend that
you contact Allstate's Financial Specialist Manger, so you can
them with their sales efforts. They have spent a ton of
money on similar programs, but in my
humble opinion, what you
offer is much better. Feel free to drop my name."
Allstate Agency Owner - TX
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