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What happens when an established client surprises you with previously undisclosed debt, or when you have to give a client difficult news about a policy someone else set up for them? In this episode, MDRT members discuss how they have adapted when startling information is revealed and adjusted their communication moving forward. <br><br> You’ll hear from:<br> Daniel Evan Jossen, CFP<br> Keunhwa Lori Moon<br> David John Munson Jr.<br><br> Episode breakdown:<br> 0:28 – An unexpected revelation from longtime clients<br> 2:54 – The lesson learned and next steps in planning<br> 4:01 – How to avoid this happening again<br> 5:23 – Reviewing client’s previously established plans you think should change<br> 9:00 – Dealing with relationships when sharing difficult information<br> 11:03 – The value of going back to basics
How do you get clients to see you as an expert when they might have family members or friends close to them offering advice as well? In this episode, MDRT members share how they separate their knowledge from the input of armchair advisors. <br><br> You’ll hear from:<br><br> Travis D. Manning, CLU, CFP<br> Angelia Z. Shay, ChFC, CLU<br><br> Episode breakdown:<br><br> 0:29 – When a family member with limited information considers themselves an expert<br> 2:51 – Differentiating academic knowledge from practical knowledge <br> 4:08 – Helping the client understand and own their decisions, not just let you decide for them<br> 5:12 – Explaining coverage even when clients don’t want to know<br> 6:48 – Being intuitive when you need to invite someone else into the discussion
Put yourself in the quarterback role for your clients' business planning process. Scruggs explains the advisor's long-term role in leading, managing, and organizing business success(ion) planning for private and family businesses. The advisor is best suited to manage this process — not the lawyer or banker, and certainly not the business owner. Your experience, current relationships, and access to resources make you the ideal choice for this role that could last for decades. Presented at the 2016 Annual Meeting.
Your clients love their children, of course. As a financial advisor, what do you do when their children are asking for too much money and endangering their parents’ comfortable retirement?
People with $1 million to $5 million in assets, which is a niche with a large supply of clients, often are not prepared for retirement. Gagne shares his secrets on how to work with that market. Presented at the 2016 ConneXion Zone at the Annual Meeting.
Clients' emotional decision making can be challenging. Paula C. Brancato, MBA, CFP, and Jeanmarie Elizabeth Kricher share how they've learned to determine what their clients really want and build trusting relationships with them. <br> <br> Subscribe to the MDRT Podcast on SoundCloud or iTunes. <br> <br> The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal information and is not liable for errors or omissions. You are urged to check with tax and legal professionals in your state, province or country. The MDRT also suggests you consult local insurance and security regulations and compliance departments, pertaining to the use of any new sales material with clients. Copyright 2016 Million Dollar Round Table.
Learn ideas how you can help your client negotiate for a better salary or benefits, from Top of the Table qualifier Renee Hanson.
The session takes a comprehensive look at nonqualified deferred compensation plans and illuminates best practices in 2018. Wolf will help you develop a greater understanding of the unique benefits and flexibility inherent in NQDC plans, and how to apply those benefits as solutions to issues commonly faced by employers and key employees. Come away with two specific communication strategies to communicate NQDC solutions to your clients and prospects.
Abdullah's belief is that most life insurance policies will not adequately provide for beneficiaries, and he explains how the discovery process which starts at the prospecting stage can lead to ensuring adequate coverage to beneficiaries. Educating our clients about the right ways of securing their future is the focus of this session. (Session in English)
What do clients ultimately want? The way Top of the Table qualifier Alain Quennec closes his client meetings makes a difference.
Learn strategies for selling critical illness insurance. Phillips offers his favorite techniques to demonstrate the need for this product. Presented at the 2016 Annual Meeting.
Top of the Table qualifier and 2020 MDRT Foundation President Tarpey recalls some of the best advice he’s received through MDRT. The advice has inspired him and helped him close deals.
More than 50,000 people in the United States depend on Medicare as a foundation for their health care needs. The baby boomer population will increase this number to 100,000 by 2023. Understanding the transition into Medicare as a result of "aging in" or as a part of retirement is confusing for most people. Sunderman covers the basics of Medicare benefits, how and when to enroll, cost and supplemental choices for original Medicare, Medicare Advantage Plans, and Medicare Part D for drugs. Presented at the 2016 Annual Meeting.
We know the surviving spouse will receive the larger of the two Social Security checks at the first death. Is the surviving spouse prepared to give up one-third or greater of the total Social Security income at the first death? If not, consider using some of the Social Security income to buy life insurance on one or both of the spouses. Presented at the 2016 Annual Meeting.
Sticking to their financial plans is critical component to clients reaching their financial goals. Sometimes, however, clients veer off course. Keep clients on track using this advice from a Top of the Table qualifier.
Have you always helped clients as much as possible? When did you realize how communication impacts the service you provide and the information you gather? In this episode, MDRT members share changes they have made in their practice from lessons that, if possible, they would have learned earlier. <br> <br> You’ll hear from: <br> Harpreet Atwal <br> Rick Jones, CFP <br> Brent Kimball, ChFC, CFP <br> Michaela Scott, CFP, RICP<br><br> Episode breakdown:<br> 0:26 – The expenses of divorce<br> 1:13 – Adjusting your approach to help clients prevent problems<br> 2:29 – Are you being as comprehensive as you can?<br> 4:47 – Learning to ask more questions<br> 5:43 – Let the clients provide the answers<br> 6:24 – Make sure to relax
