Why Found Money Management™ Is The Leading Life Insurance Sales System In The Insurance Industry!

Would you agree that most financial advisors are indeed lucky today, if they are able to earn $30,000 to $40,000 per year (after expenses) selling cash value life insurance?

What if in 30-60 days from today you could be earning $30,000 to $40,000 per month, instead of $30,000 to $40,000 per year? What would it mean to your family… your career… your life?

Do you really want to double and triple your income in 2018? Then you must understand why most financial advisors are struggling today selling cash value life insurance (or any product). And, why so many advisors are investing in the Found Money ManagementTool Kit.

The main problem today is that most financial advisors were never taught an effective marketing (lead generation) system that would identify and attract a consistent flow of the ‘IDEAL’ life insurance leads to them. When they first entered this business, they were taught to approach everyone they knew (Project 100), to make some sales appointments and they were given a script to memorize, to ask for referrals. For a few advisors this worked and they’ve gone on to be very successful in this industry. Read More

Millennials: Dine Out, Drink Craft Beer, Connect, & Recoup $5,000 – It’s Legit!

David Szeremet, October 19, 2017

I recently consulted on a financial planning case involving a 28-year-old pharmaceutical sales rep. She is doing well, earning six figures. Recently married, she is considering the purchase of a cash value life insurance policy for income protection ($1 million death benefit) and to accumulate a rainy day fund (potentially $250,000 by age 55). The annual premium is $5,000.

I was surprised to find out she can’t afford the premium. She makes a good living, is healthy, lives in an affordable area, has no student loans, and drives a Honda Accord. She appears to be living well within her means. Something did not compute.

Here’s what we were missing. A classic millennial, she values being socially connected, informed, and meeting up with her (large) social network. Her phone gets a workout with Evites, tweets, posts, and rally texts. On average, she goes out three nights a week, consumes a great deal of media content, and is an avid reader.

It’s all good. However, an analysis of her monthly budget revealed a continuous outflow of unnecessary fees, up-charges, and nickel-dime expenditures.

We identified seven financial fixes to free up at least $5,000. The fixes will not impact her lifestyle (other than simplifying it).

  1. Cut the cord. Yes, she has cable TV. On average, cable runs $105 a month (source: Fortune magazine). It’s only getting worse because the cable TV inflation rate is up to EIGHT times the consumer inflation rate (source: Leichtman Research Group). It’s a racket. Other than live sports, I can’t remember the last time I looked forward to watching anything on cable TV.* Face it, cable TV is for suckers and procrastinators. I’m not asking anyone to revert to rabbit ears (comment if you do not understand). There are dozens of affordable internet-based options saving you at least $50 a month (that’s $600 annually – the miracle of math!)
  2. Ditch the crumb scraper. Go ahead and eat out – I’m fine with it. You can save a boatload of cash by following one simple rule: never eat at a tablecloth restaurant.** Over a three month period, I conducted a survey of the Cincinnati area. My taste buds enjoyed it. Dinner at tablecloth restaurants, not counting booze, averaged $50 a meal (appetizer, entrée and dessert). For “naked table” joints, it’s $25 on average. Skip the tablecloth once a week for a year and you will save $1,300. It’s real!
  3. Buy a growler. Craft breweries are printing money – one pint at a time. I love visiting local breweries and based on the number of millennials I see, they do too. A typical pint runs $7 ($6 plus $1 tip). “Bankruptcy by a thousand pints” is a serious risk. Instead, once a week, buy a four pint growler for $16 ($14 plus $2 tip). And like M&M’s, growlers make friends! One growler per week saves you $624 a year. Drink (financially) responsibly.
  4. Stay put. Nightclub cover charges are wallet killers. Consider a modest $5 cover charge. If you pay one cover charge instead of three, you save $10. Do this just once a week and save yourself $520 over the course of a year. You do not have to be a party chaser to have a good time. Hook up with your crew at a pre-designated locale and stay there – even if Skylar shows up and proclaims that DJ Skin-E-Jeenz is working his MacBook over at Club Elev8.
  5. Become a card carrying member… Pick up a library card. Your local library can score nearly every book, eBook, movie, or ‘zine. You simply need to organize your priorities and be willing to wait a few days – don’t worry, the words will still be there when your book arrives. If you borrow only one book a week (@ $20 per book on Amazon), it’s $1,040 annually ($260 @$5 each for eBooks).
  6. Ironic/vintage t-shirt limit: 1. Nobody loves an ironic t-shirt more than a millennial. But today’s satirical t-shirt is tomorrow’s oil rag. Ask any Gen Xer who coveted a Spuds MacKenzie or Where’s The Beef? shirt. Same goes for that “vintage” t-shirt depicting your school’s olde tyme logo. You have my permission to own one, but honestly, it’s one too many if you plan on dating. Take a pass on ten of these $35 shirts (they are so overpriced) and save $350.
  7. Live to ride – ride to save. Skip one Uber/Lyft a week. Just one. Most metropolitan areas have bike share programs with well-maintained bikes ready for you 24/7/365. And it’s good for you! I live in Cincinnati and we have a thriving bike share program. I’m confident your area does too (or will soon). An annual bike share license runs $100, or less. At an average fare of $15, skipping Uber/Lyft once a week saves you a net of $680 annually.***

So there you have it. Over $5,000**** in “found” money and your life is simplified.

*Cable TV reached its nadir in 2017. Sports talk “game shows.” Political rant panels. Endless loops of home flipping reruns. State Fair fried food close-ups. “Dump-and-stir” cooking shows. Bigfoot vs. Goat Boy. Hitler’s Secret Vacation Home. Anything on the Weather Channel. Planet of the Apes marathons. Are we really this bored?

**Unless someone else is paying.

***I’m not being a tightwad. I’m only asking you to add one bike ride a week (twice a week during good weather if you live in a city that experiences winter). We need exercise – let’s kill two birds with one stone.

****And I didn’t admonish you to clip coupons, become an Uber driver, live in your parents’ basement, join loyalty programs, enter drug trials, or “stop going to Starbucks” – those tips are played out.

Two Great Ideas From Our Members

Can you believe it! It’s already September? We’re two thirds through the year. It’s less than two months until the holiday season sets in. Where does the time go?

How are you doing this year?

Is your income up this year – or is it down?

Will you reach your goals?

How do you feel about that?

Because of the nature of our business, most of the agents, advisors and planners who call us are the ones who are having problems. Their income is down. It’s getting harder to find leads, set appointments, let alone close the sale.

However, it doesn’t have to stay that way! Sometimes a simple idea can make a big difference, in only a few weeks.

Here is a great idea from our friend Lewie Wood.
Mr. Wood is a ‘Lifetime Member’ of the prestigious Million Dollar Round Table and an inductee into the MDRT Hall Of Fame! The MDRT is an international, independent association of less than 1 percent of the most successful life insurance and financial services professionals from 76 countries around the world. Note: Mr. Wood has been a member of the Insurance Pro Shop since 2009. He has invested in several of our specialized systems and attended our Trusted Advisor Success Training.

In Times Like These “PARTNER UP”

“If you are relatively new to this business, evaluate your personal strengths. Do you have good contacts with schools, hospitals, cities, counties, state, federal employees or employers that provide retirement plans? Search out a top financial advisor / insurance professional in your community who can help you harvest from your relationships. Harnessing your years of experience with personal relationships will lead to your best year ever, and you will solve problems for lots of people who will refer to others who need your help.”

“For those with no connections, host a financial planning party. Invite friends, relatives, neighbors, clients, etc to a party at your home. Nothing lavish! Have a guest speaker (i.e. expert financial advisor) make a brief presentation to show people how to “Live Debt Free and Truly Wealthy.” Start a stream of inexpensive fun ways to warm referrals that result in significant production. Partner up for success!”

Partnering up is a great way to learn how to help people and learn how to get them to take action.

 

Here is a great idea from our friend Tony Fillipone.
Mr. Fillipone is in the top 1% of producers in the country. Note: Mr. Fillipone has been a member of IPS since 2003. He has invested in all of our specialized systems, attended our many of Trusted Advisor Success Training events, an is in our coaching programs.

Educational Workshops

“I remember in 2008 between October and December things were looking pretty bleak. I was running a little scared due to the horrible economic news. It seemed as though people were not doing anything and my business was feeling it. I even decided to scale back my operation. However, thanks to Lew’s and Jeremy’s coaching and support I was able to hang-in-there, and the next year was one of my best years ever.”

“Even during that economic downturn, I never stopped sending out my newsletters, or doing my workshops. In fact, I even uncovered several free speaking engagements and starting to profit from them. I stopped doing expensive dinner seminars and am doing much cheaper workshops at the local Library. I literally, have had to turn people away from my workshops, because I had more people sign up than I could fit in the room. Not only that, but many of the people who were too scared to do anything that year called me back and told me they were ready. In the ten years I spent in this business before I started working with the Insurance Pro Shop, I can’t remember anyone ever calling me back and telling me they were ready to move forward. Now, it happens all the time.”

Yours In Success,
Jeremy Nason

‘Make It A Dominant, Immediate Need’

‘If You Want To Get People to See You Today, And Buy From You Today,
Then You Have To Help People To Decide What They Want Today!’

One of the most difficult aspects, about the products we offer, is that for the most part they are for future use. Think about it. With most of our products, we explain to our prospects how they will be protected in the event that someone dies or becomes disabled, sometime in the future. Or, we paint a picture of how important it is to be saving for retirement and how a few dollars a month invested into an Annuity or Life Insurance now, will result in a nice guaranteed nest egg, in 20 or 30 years.

While all of these things are true, they can be extremely difficult to sell because they’re future needs, not immediate ones. There is no compelling reason for our prospects to do something today, instead of tomorrow. Read More

10 Keys To A More Successful Sales Career

By Ken Sundheim

Everyone has two natures. One wants us to advance, the other wants us to pull back. The one we cultivate and decide upon… determines whom we become!

Luckily, with the right kind of training, every individual could be a success. Though, it’s not in your best interest to wait and expect others to assist you on the road there.

Rather, achievement and career advancement is the culmination of gaining self will power, setting firm resolutions and making a commitment to conquer your weakness and bad habits.

If success is truly something of interest, our recruitment professionals have laid out 10 easy theories to implement in order to have a more lucrative, productive and fulfilling career.

1. The secret of success is to try to always improve yourself no matter where you are or what your position is. Learn all you can. In business, miracles do not simply happen.

Rather, success is the culmination of excessive learning and leveraging that knowledge to set firm goals then seeing those proposed accomplishments through to the end.

2.Think in terms of solutions rather than focusing on problems. Simply because we can’t see a solution at a given moment does not mean it’s not there.

Use your subconscious voice in order to gain answers and expand your horizon instead of listening to the inner voice that says a particular goal can’t be achieved.

People with a strong sense of self-worth tell themselves that they can handle anything including hurdles that arise in pursuit of their core goals. Read More

Helping Folks Create A Rich Life!

By Beau Henderson, RFC

It typically only happens when tragedy strikes – you get sick, someone you love passes away, you lose your job. Those moments force us to stop our busy lives and consider where we are, how we got there… and where, if we truly have the lives we wanted, we would go. We all have those moments. But how often do such moments truly transform us? How often do they actually lead to a better life? Rarely! And the reason is that creating the life you want is not just a philosophical question. It’s a question for your financial advisor.

What is a Rich Life?

Most clients expect their financial advisors to help them accomplish one very important objective: to make sure they will have enough money to last the rest of their lives. But truly, your financial advisor is capable of doing so much more. Readers of the Insurance Pro Shop® newsletter can help their clients go beyond a wealthy life — one that is simply financially comfortable — and help them live a rich life.

It’s easy to imagine, especially in the midst of financial troubles, that if only you could amass a comfortable amount of wealth, everything else in life would fall into place. Most people live their entire lives in pursuit of that aim. They forgo vacations. They miss recitals. They lose touch with their closest friends and go years without seeing their relatives. And when it’s time to retire, when they are able to sit back and take stock of all the money they have, are they happy? Of course not!

I learned the secret to creating a rich life from my clients. These people are all of varying ages, backgrounds and interests, yet they all tell me the same thing: having their finances in order was important, but the things that gave their lives meaning were the experiences they sought out and the relationships they built. Read More

Sales vs. Insurance Knowledge: What’s More Important?

Sales vs. Insurance Knowledge:
What’s More Important?
By Ronimarie Acord

Agency producers are “drinking from a fire hose.”

That’s how Angelyn Treutel Zeringue, president of SouthGroup Insurance Gulf Coast in Bay St. Louis, Mississippi, describes the learning environment in the independent agency world: Technical knowledge is critical as new coverages, policy forms and risk exposures evolve, but building networking and sales skills is equally essential.

Insurance sales legend John Savage used to say his technical skills contributed only 5% to his success, recounts Kenneth Fields, assistant vice president and director of sales development with The State Auto Insurance Companies – the other 95% he attributed to his people skills.

But Savage – who started a Toledo, Ohio life insurance agency that still thrives as one of the 100 largest insurance and financial service agencies in the U.S. – “would then go on to say the trick was you have to have 100% of the 5%,” Fields adds. Zeringue agrees that technical training “helps producers stay keen” to ensure they provide the best coverages and reduce their E&O exposure.

When training producers, what’s the right balance between sales training and the development of technical skills?

What’s the Mix?

“Technical skills are a given – a must-have,” says Fields, who’s helped train and coach 1,600 new property-casualty producers in the 19 years since co-founding State Auto’s PaceSetterSM sales development program. But he adds that those are “useless without the ability to communicate technical information to prospects in such a way that they can understand the value of the product or service. That requires sales skills.”

In the overall process of grooming a new producer, Doug Mills, vice president of Gillis, Ellis & Baker in New Orleans, believes you can’t separate sales training from technical training. “At its core, what we sell is our expertise on insurance products and how they can be applied to the client’s risk exposures,” he says. “You have to ‘know your stuff’ to be effective at sales.”

The two demands can form a chicken-or-egg question for some agencies. “The biggest hindrance to sales success early on is the fear that the producer will be found to not know what they are talking about,” Mills says of his eight producers under age 35.

“Sales is all about confidence, and until the confidence is established, sales will languish,” Mills agrees. “Confidence cannot be established until the producer has a firm grasp on the technical side of things.” Read More

Middle Income Families Need & Want Your Help!

Have you been reading and seeing the reports about all the financial problems middle income families are having today? Have these reports convinced you that none of them has any money, because of:

  • Out of control Consumer Debt

  • No Savings

  • Stock Market Losses

  • Low Interest Rates

  • Soaring Federal and State Taxes (Income, Property and Sales Taxes)

  • Falling House Prices, (No Home Equity)

  • Foreclosures, (Upside-down Mortgages)

  • Disappearing Jobs (Companies Folding)

  • Flat Wages

  • Unavailability of Mortgages

The truth is only a small portion of the US population is affected…
Yes, all the above are serious problems. However, don’t believe all the gloom and doom, when it comes to your financial services business. The fact is that even with all the above financial problems we hear about, there is still plenty of opportunity for you to sell life insurance and make money, in this industry.

The US unemployment rate fell to 4.4 percent in April 2017, the lowest jobless rate since May 2007. (The Unemployment Rate in the United States averaged 5.80 percent from 1948 until 2017, reaching an all time high of 10.80 percent in November of 1982 and a record low of 2.50 percent in May of 1953.)

U.S. home prices have climbed back above the record reached more than a decade ago, bringing to a close the worst period for the housing market since the Great Depression and stoking optimism for a more sustainable expansion. Housing equity now equals 58 percent of home values – the highest point since 2006.

And, there are plenty of mortgages available! While home mortgages are harder to get for people who have financial problems, they are still readily available for most of the population.

All of the problems people are facing today makes what we do even more relevant & important!
Consider, even in troubled times, the vast majority of peoples’ overall financial concerns aren’t much different than at any other time in their lives. They are still concerned about meeting their financial obligations each month; making their mortgage payment; saving for their children’s education; and saving for retirement. Most families today are looking for ‘real help’ and immediate solutions to their financial problems! They want help to reduce or eliminate their debt; cut unnecessary expenses; reduce income taxes; revise their investment strategies; and more!

And, the great part for you is they are much more willing to sit down and talk with a you, if you are adept at, and focused on, helping them to solve their immediate financial problems. They are not looking for another salesperson who wants them to spend more money.

Stop listening to all the gloom and doom out there! Stop selling products! Instead, start helping middle income families to… ‘Live Debt Free and Truly Wealthy!’

Starting today, get a message out to your ‘IDEAL prospects on how you are able to help middle income families to ‘find the money’ to spend, save, invest, insure, and plan wisely for the future, to “Live Debt Free and Truly Wealthy!”

Yours In Success,
Jeremy Nason
‘The Nine Out Of Ten Guys’

Specialize In Solving Your Ideal Prospects’ Problems!

How much easier would your life be if you could find and attract your ideal prospects to you instead of cold calling, buying leads, etc. to end up in front of people who have never heard of you?

How many more appointments could you set and sales could you close if people felt they were meeting with the local expert who can help them to solve their most pressing financial problems?

If you want to attract the most prospects to you; set more appointment with the people you talk to; and close more sales with the people you meet with; then you must provide a service that addresses an immediate problem, need, and want that your prospects have today. And, by promoting yourself as a specialist in a specific area, the automatic perception is that you are an expert in that area!

If we are talking about Middle Income families, (pre-retirees) what are the biggest concerns and the biggest priorities most of these families have today? Maybe it’s getting out of debt; reducing income taxes; reducing their family expenses to improve their cash flow; having enough money each year to take a vacation or buy a new car; saving to buy a house; saving for college expenses for their children; or saving for their retirement?

Unfortunately, very few Middle Income families see buying insurance to protect their family as an immediate concern, need, or want. It’s not on the top of their list of priorities. They see all insurance as just an additional expense that they can’t afford! And, they don’t see the need for a financial planner, an investment advisor, or higher investment returns, because they already have access to a 401k, IRA, Bank CD, etc., if and when they ever have any money to invest.

The reason our “Found Money Management” system is so effective and attracts so many more prospects is that it does NOT focus on products or investment returns! Instead, it clearly addresses the immediate concerns, needs, wants, and priorities that Middle American families have right now! And, it does it all without asking them to spend any additional money or change their current life style!

All of the marketing, prospecting tools, and training we provide in this system are designed to establish you as the specialist and foremost expert in helping families to ‘find the money’ to spend, save, invest, insure, and plan wisely for the future, to “Live Debt Free and Truly Wealthy!”

If your want to attract the most prospects, then you must specialize right now! And, you must specialize on the immediate concerns, needs, wants, and priorities that people have right now!

Please, take a few minutes to look at our Found Money Management ‘Advanced’ Life Insurance Sales Tool Kit. Your long-term success in attracting prospects and making sales is directly related to your ability to market your services to a specific market segment that has immediate concerns, needs, wants, and priorities that you can solve for them.

Yours In Success,
Jeremy & Lew Nason
‘The Nine Out Of Ten Guys’

You Must Have An Agenda You Follow During The Entire Sales Cycle!

…To Close More Life Insurance And Annuity Sales

Your prospect has made an important decision, they have decided to meet with you. Congratulations, you’ve made your ‘first sale’ to the prospect. You sold them on the reason for the appointment. Now, you want them to become your client. So, what do you do? Are you going to wing it like most agents and advisors? Or, do you have a set ‘step by step’ agenda for that appointment?

What do you want to accomplish at this first meeting?

  • Do you want to make a good first impression… gain their trust, respect and build their confidence in you?
  • Do you want to help the prospect to see and understand the problems he/she has, so that they will buy into the solution you can provide them?

One of the best ways to make a good first impression is by following a set, ‘step by step’ agenda throughout the entire sales cycle. You want to send a POWERFUL message to your prospect: “This meeting was important enough to justify advanced planning on my part.”

You are a professional financial services advisor. Having a well-rehearsed agenda reveals your preparation. Prospects and clients will know that you respect their time. An agenda demonstrates what they can expect throughout the process; you are thorough, leaving nothing to chance.

What’s included in your agenda?

  • Do you tell your clients how you work, what they can expect from you, what it will cost them, and give them a brief outline of your credentials?
  • Do you have a series of ‘thought provoking questions’ that gets them to think and talk about the problems their family and they face today and in the future?
  • Do you have a set sales presentation (s) that demonstrates how your product and/or service will help them to solve their problems?
  • Do you summarize what they have told you they want and need at the end of the sales presentation to show them you were listening to them and you understand their problems and concerns?
  • Do you tell them that you are going to take all the information they gave you, back to your office and review it, so you can come back with your best recommendations?
  • Do you present a written summary of the first meeting with written recommendations?

If you are not closing 9 out of 10 sales calls, is it because you don’t have a set, ‘step-by-step’ agenda?

How do create a ‘step by step’ agenda? You can do it by experimenting (trail and error). Or you can invest in our How To Close ‘9 Out Of 10 Sales’… By Asking The ‘Right’ Questions… Videos! And, the scripts, questions, simple presentations, and closing presentations are all there, written out for you.

Yours In Success,
Jeremy & Lew Nason
‘The Nine Out Of Ten Guys’