Blogs

Month: July 2021

An Easier Strategy for Creating a Legacy

An Easier Strategy for Creating a Legacy

Building a legacy takes liquidity, especially when you’re leveraging life insurance and wealth transfer to do it. The tax advantages of life insurance are essential, but it takes liquid assets to pay the premiums. Fortunately, we have a simple strategy to increase that liquidity and it relies on using annuities.

Before you can create a legacy, you need to plan for income in retirement. By leveraging our Income Alpha strategy, you can create more income — and therefore more liquidity — using fewer assets. Which means you’ve freed up unused assets for wealth transfer.

A good place to start is by evaluating your book of business, specifically checking for variable annuities that have maxed out their income riders. Then, work with your Ash team to discover ways those products can be improved. They’ll use our JourneyGuide tool to offer different scenarios and solutions.

Annuities that were sold 10, 15 or even 20 years ago may still be in force, but there’s a good chance they aren’t meeting your clients’ current needs. Replacing those products allows you to find solutions that fit your clients’ current focus as well as generate more income and increase liquidity for premiums.

For your clients aged 55 and older, especially those within 10 years of retirement, you can’t afford to make any mistakes due to economic uncertainty. But using an Income Alpha approach is a great way to protect that liquidity that exists in the portfolios right now.

Give our Income Alpha strategy and our JourneyGuide software a try. Our Ash Annuity Audit team is also available to help. Reach out to your retirement income consultant at (800) 589-3000 to learn how we can help grow your business.

Transformational Tactic

Creating a legacy takes liquidity. And creating liquidity starts with our Income Alpha strategy. Talk to your Ash retirement income consultant today.

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

Posted by hpp
Turning A-List Prospects into A-List Clients

Turning A-List Prospects into A-List Clients

Ask anyone running their own practice what they want to achieve, and their answer will most likely lead back to growing their business and engaging with clients and prospects. Think about your own goals. Do they fit into either of those two categories?

 When it comes to success, the “what” you want to accomplish is easy. It’s the “how” that requires more effort. Even without the pandemic, it’s harder to connect with clients today than it was just five or 10 years ago. And, as your clients have evolved, our prospecting must evolve as well.

So many practices are functioning with strained resources, and it can seem daunting to develop an efficient marketing strategy. The keyword here is efficient. The goal is to figure out how to make your prospecting simple and repeatable. When we’re talking with advisers about how to grow their business, we have a tendency to complicate the process. Think about who you want to attract to your business. And then consider the value you can bring them.

Your value needs to be visible enough for them to give up their email address to hear what you have to say.

Once you figure out what your clients want to hear, repeat that message for your new prospects. After all, your A-list prospects most likely have similar goals and circumstances as your A-list clients. This is where the hard work comes in.

Regardless of whether you have a lead generator or not, there are some simple messaging tricks you can use to get the most out of your messaging:

  • Start by asking yourself if this service would help you, and if it’s something you would give up your email address to learn more about
  • Spend time creating a catchy title and focus on topics that would readily come up in an internet search
  • Consider PDF checklists or other helpful downloadable tools to demonstrate to your clients how you can help them succeed

The most important takeaway here is that the topic needs to be interesting to your audience. If it’s not, it won’t matter how catchy your title is or how many search words you use. First and foremost, your messaging needs to connect you to your prospects. It needs to show them how you will bring them solutions to their obstacles.

If your target market is young homeowners, for example, consider offering a checklist of five ways to build curb appeal. Or, if you want to reach asset managers, talk about five lessons learned from self-made millionaires.

 And once you’ve figured out what topics have the biggest impact, repeat that messaging with all your clients. After all, if the messaging enticed them to share their email, it stands to reason they will be open to more information on similar topics.

If you need help tweaking (or building) your lead generator, creating messaging that hits your target audience, or just brainstorming about the type of clients you want to attract, feel free to give us a call at (800) 589-3000. Your retirement income consultant can help you with any part of the sales funnel you have questions about.

Transformational Tactic

Prospecting doesn’t have to be complicated to be effective. The key is to develop an efficient, repeatable process.

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

Posted by hpp
13% of $60 Trillion Is Up for Grabs

13% of $60 Trillion Is Up for Grabs

The Wall Street Journal reported last week that only 13% of beneficiaries will stay with the same advisor their parents used. Close to $60 trillion of wealth will be transferred from one generation to the next over the next quarter-century. That means that $52.2 trillion is at risk inside of our portfolios. That’s the bad news.

But that also means that $52.2 trillion in assets is poised to move — and if you’re prepared, it could move to you. And you could hold onto some next-generation clients. But to take advantage of the opportunity waiting for you, you must start having legacy conversations with your clients and your potential clients as well.

Recently, we’ve seen a lot of government spending, which translates to a larger national debt. In fact, according to the Peter G. Peterson Foundation, the national debt will double over the next 30 years. And when that happens, taxes — and especially wealth transfer taxes —  will need to increase as the government tries to get a handle on our nations’ finances.

For better or worse, we are all creating a legacy. But by having a conversation with your clients, you can prove your value in shaping that legacy into something beneficial. And, when you have those conversations, it’s critical to get the beneficiaries involved. After all, those beneficiaries have the potential to be your next clients. Or they might just become part of that shifting 13%.

So, planning today and getting beneficiaries involved is going to be critical. Reach out to your retirement income team at (800) 589-3000 and make an appointment to talk about all the tools and resources we can deliver to help create a legacy for your existing — and prospective — clients.

Transformational Tactic

Help create a legacy for your clients by including the next generation in planning conversations. It’s essential to attracting and retaining clients.

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

Posted by hpp
How to Stay the (Financial) Course

How to Stay the (Financial) Course

Creating a legacy is something to start now. After all, you can’t get to the finish line if you don’t choose a path and stick to it. In this way, creating a legacy is a lot like running a race.

As many of you know, I’m kind of an amateur runner. I try to hit local events, including running some five and 10Ks to work on speed and prepare for a full marathon later in November. This past weekend, I was running a 10K in Ohio. In fact, I was running my best 10K ever and was on pace to shave a full minute off my time. I was really running well, and temperatures were manageable. The humidity was good and there was cloud cover. In short, it was a perfect scenario.

Unfortunately, on the second loop, I began to realize that some of the houses were unfamiliar. And then I didn’t remember seeing a water station on the first loop. As I was heading home, I realized that I had missed a turn and I just followed the person in front of me that was half a block ahead. Problem was, they were running a different race.

Financial planning can teach a similar lesson. When creating a legacy for your client, you must follow a plan. The ame goes for your business. You cannot follow somebody else — you must develop a plan and follow it. For my race in Ohio, I had developed a plan and I was executing it well. But, without meaning to, I failed to follow it and I got hooked into following somebody else. It not only cost me the race, but it also cost me a disqualification.

So, think about how your overall planning process fits into your clients’ estate goals. And, if you have questions about how fixed indexed annuities can help that process, reach out to our retirement income consultants at (800) 589-3000. By staying the course, you can create a legacy for your clients.

Transformational Tactic

Without a solid plan, your clients — and your business — might fall short of their goals. Choose your path and stay the course.

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

Posted by hpp