Blogs

Month: February 2021

Turning Prospects into Clients

Turning Prospects into Clients

It’s all about constant communication. Your prospects need to hear from you, often, to understand your value and trust you with their future. A constant, consistent message is essential. But it’s also a tall order. After all, you’re a financial advisor, not a full-time marketer.

Most of us don’t have access to the bevy of content we need to do something consistently. We lack the expertise and the technology to create a nurturing drip campaign. And we lack internal resources to help us execute on a marketing strategy.  All of this, in addition to potential compliance bottlenecks, makes constant communication become aggravating and time-consuming.

In fact, 54% of growth-focused advisors share educational content on a regular basis. However, only 12% of those advisors are satisfied with their marketing return on investment.

But before you throw in the towel, I want to share a solution for creating engagement, organic lead generation and efficiency. In a word, automation.

We have access to a library of industry-related content from trusted publishers. This library can be used to create newsletters, individual emails or social media. It will allow you to post articles, brand content for each advisor and automate communication for a turnkey drip campaign. Leads are created when content is shared, allowing you to stay close to clients. You’ll also win back more time with quality content created for you.

Our library includes:

  • Digital magazine — monthly lifestyle magazine featuring articles on travel, art, food and design
  • Branded social media posts — thousands of blog posts to share, plus an automated bi-weekly email newsletter
  • Full calendar of local events — fully automated, bi-weekly email newsletters featuring virtual and in-person events.

The industry posts and newsletter will allow you to educate easily, which is another important piece of your online presence. The library covers 17 topics through PowerPoint slide decks, invitations and client workbooks, and they all come with FINRA nonobjection letters. They’re all fully scripted, and they can be used for in-person meetings, virtual webinar workshops, focused client meetings and even pre-recorded videos.

Reach out to our team of retirement income consultants at (800) 589-3000 to talk about how they’ve been able to use these educational pieces to help drive people to your organization. We look forward to helping grow your business in 2021 and beyond to become a High Performing Practice.

Transformational Tactic

Talk to our team about our ready-to-go content library, here to help you create an automated online presence. You’ll stay close to current clients and convert prospects at the same time.

Recognize the opportunity to transform your business by taking our free course.

Posted by hpp
How the Pandemic Has Affected Retirement for 68 Million Americans

How the Pandemic Has Affected Retirement for 68 Million Americans

A recent survey commissioned by Edward Jones and conducted with the help of Gallup and Harris polls found that 68 million Americans said they have changed their retirement timing due to the 2020 global pandemic. That number is even more significant when you think about the number of households affected. About one in four households have had their retirement plans affected, requiring them rethink when they plan to turn on their Social Security benefits.  

In addition to Social Security, they also need to determine how early retirement will affect their ability to pay for health care. At an individual level, there is a greater need to shore up the potential reduction of Social Security than ever before. And have solutions that can help mitigate that concern for your clients.

Whenever meeting with a client to make changes to their financial plan, start by reevaluating some of the vehicles that were put in place 10 or 15 years ago. Maybe they have maxed out their income benefit. Or maybe there’s a better solution for their current needs. This is a great opportunity to determine the appropriateness of the current financial products.

And, once you’ve discussed how your clients’ goals have changed, and which products aren’t working anymore, you’re ready to discuss the future. JourneyGuide is a great way to do that. As I recently discussed, it offers a quick and accurate report of how to help your clients meet their goals. The JourneyGuide software can help you identify some of the gaps that has been caused by the global pandemic.

So have a conversation with your clients. Ask them:

  • How did this change their retirement income plan?
  • Do we need to reevaluate?
  • Do we need to accelerate income and close that gap up?
  • Do we need to create a better legacy?

With JourneyGuide, I can show you the proper amount of protected income needed to leverage the rest of the portfolio to generate more estate value for the beneficiaries. Which is a long way of saying it can actually help people retire earlier. And, more importantly, JourneyGuide can help close any type of retirement gaps that might have come up due to the global pandemic.

Call your retirement income consultant at (800) 589-3000 to learn more about JourneyGuide and Ash’s Annuity Audit services. Both will give you the information you need to allow your clients to understand the changes that are affecting their retirement income today.

Transformational Tactic

Helping your clients shift their financial plans to meet their current needs is possible with Ash Brokerage’s resources.

Recognize the opportunity to transform your business by taking our free course.

Posted by hpp
A Better Annuity Strategy than “Set It and Forget It”

A Better Annuity Strategy than “Set It and Forget It”

Many of us have believed in asset allocation strategies –  that is, shifting money management to a third-party and talking to our clients about the long-term. Their money is put inside variable or fixed annuities, and you and your clients just let it sit. It’s a “set-it-and-forget-it” mentality, and in less-turbulent times, it was a popular strategy.  But the global pandemic that we are still living with has shifted a lot of needs. 

Many people have lost jobs and are retiring earlier. Even more importantly, because of the volatility we are living with, there’s an increased interest in protected income. Today in America, there are $416 billion held in fixed and indexed annuities issued by insurance carriers. Not all of those are liquid, certainly, but according to a Gallup poll, 81% of those that bought a fixed annuity said they did so because they did not want to be a burden to their family.

All of this leads to a couple of opportunities:

  1. Most fixed annuities have been on the books for a long time. They do not have income riders — but the need to have protected income is an important part of their portfolio. If you have not looked at an Income Alpha strategy for these clients, I would encourage you to do so. A certain amount of protected income can actually leverage the portfolio to a greater probability of retirement success, a claim we have the numbers to back up. And, going back to the reason people buy annuities, it’s because they don’t want to become a burden to their families. Protected income is the best way of ensuring this doesn’t happen. It’s important to talk to your clients about using the asset appropriately.
  2. Under the Pension Protection Act, you can shift that tax-deferred asset with a 1035 exchange. If you use that asset for two of the six ADLs, then not only is your cost basis your gain, but also the explosion of market value of an LTC event are all received tax-free. So, you have shifted tax-deferred to tax-free. When you think about the increase in tax rates that are likely to happen over the next three to five years, I believe that your clients will be very receptive.

In total, there are more than $1.3 trillion of total annuities sitting on insurance carriers’ books right now. Think about that for a minute. Are your clients’ annuities performing like you thought that they would? Have those benefits been maxed out over the 10-year period available with an income rider? Can you increase income a little by looking at alternatives? Would a different vehicle preserve their assets better?

Add value to your clients by making a full evaluation of their annuity products. Our Annuity Audit service, backed by Morningstar Intelligence, is available to help. I encourage you to reach out to our team to learn more. We’ll work up a complete analysis and provide you with clear information to share with your client. Together, you can make an intelligent decision as to whether their current product is performing well or if there are changes to be made. And if there are, reach out to our retirement income consultants at (800) 589-3000 for more information.

Transformational Tactic

There are opportunities to increase your business by evaluating current annuities. You’ll improve your clients’ portfolios without reducing assets under management.

Recognize the opportunity to transform your business by taking our free course.

Posted by hpp
Increase Your Annuity Sales (and Create Confidence in Your Clients)

Increase Your Annuity Sales (and Create Confidence in Your Clients)

It’s a challenging time. Your clients need guidance to help protect and secure their retirement. It’s not an easy task, especially when we have ongoing social and political unrest here in the United States, not to mention an ongoing and relentless pandemic. Today’s environment makes it even more important to validate your services and create confidence in your clients when you’re talking about their income planning strategies.

When you help a client create a plan, you’re looking ahead to the rest of their life. We have a resource that cuts through all the uncertainty and shows your clients how their retirement would perform in different circumstances. Given various market conditions, it takes inflation and taxes into consideration. Even more important, you and your client can complete it in about 15 minutes. And the result is a client-approved report that you can present with confidence to the client’s loved ones.

JourneyGuide is a dynamic, client-approved resource and is hands down the best software for selling annuities. Advisers who have incorporated JourneyGuide into their businesses have seen an average of 62% increase in annuity sales. A lot of that increase has come from assets held away.

It might be easier to look at an example of how they incorporate JourneyGuide into their day-to-day conversations. Take a client, age 60, preparing to retire in seven years. Currently, the client has a traditional 60-40 asset mix. By adding a fixed indexed annuity to the portfolio, you will be able to increase the income amount and offer income guarantees. You would also be able to add guaranteed income and decrease portfolio risk. It makes sense to revisit the client’s portfolio mix based on their risk tolerance and to possibly further the income potential. JourneyGuide shows you how to make changes to increase your clients’ security.

You can show that client how much that they will be able to spend, given any market condition, because we run 5,000 market simulations in our Monte Carlo simulation to ensure that the client has confidence in their plan. Call us today at (800) 589-3000 or download a sample report to see how you can give your clients the confidence they need in retirement and increase your annuity sales. Your peers are doing it, and you can too.

Transformational Tactic

With the right resources, it is possible to develop a more secure retirement for your clients while increasing your annuity sales. Learn how to help project possible scenarios in as little as 10 minutes.

Recognize the opportunity to transform your business by taking our free course.

Posted by hpp