The Client Review Kit

Lexie Giusti, Sr. Marketing Consultant
Sheeva Izadi ,Marketing Consultant

You’ve been working with a client for months on end, providing them with the tools and strategies to enhance their financial plan. It feels as if things are going smoothly and their money is producing the results they want to see, so why not just leave things as they are?

Well, because a lot can change in a person’s life in a period of time as short as a month. Any number of events could occur ranging from a death in the family to a wedding or the birth of a child or grandchild. All of these happenings could lead to a change in the financial reality they are living with or see themselves living with in the future.

Scheduling an annual client review is often overlooked in the financial planning process when it could arguably be the most important step. Having a face-to-face, personalized meeting with your client to go over their progress and discuss any adjustments is an elemental part to creating that deeper connection and loyalty with them.

So why exactly is scheduling an annual client review so important? Let’s take a deeper look.

Statistics show that about 79% of consumers view their relationship with their financial services provider as purely transactional.

The modern client wants to feel that personalized touch from your services. They want to feel like a part of the family and simply sitting down with them for an hour to discuss their goals and needs can be the difference between positive client referrals or them switching advisors.

This leads to our next point – Increased personalization correlates to increased customer loyalty which correlates to more positive referrals. The more an individual feels they can trust you and that you care, they more likely they are to share that with their friends and family and encourage them to handle their finances with your firm. Even just showing them just how well their assets are performing can solidify your place in their lives and add value to why they are working with you to begin with.

Meeting with your client to go over their portfolio and its performance over the course of the year allows you to open the conversation into uncovering new assets they may have come into since your last meeting. Perhaps they would want to invest those assets into an existing policy, or maybe they’d like to look into a new account for those assets. You will never know what your client could be interested in until you sit down to really talk to them.

Everything included in our Annual Client Review Kit is there to enhance the time spent with your client and make the process as seamlessly smooth as it can be.

You will receive a customizable letter to invite your client to sit down with you, a comprehensive checklist to utilize during the meeting to be sure you cover all necessary topics, a fund allocation model to be used as a visual representation in your meeting to discuss how to best allocate funds, and finally an educational video of Angela Sloan discussing why client reviews are so important to her practice and the immense benefits they provide.

Set yourself apart from the competition and create deeper, everlasting relationships with your clients and download the Annual Client Review Kit today.

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The Silent Killers to Financial Wellness

Sam Payne RICP®, Business Consultant

He did everything right… he ate right, avoided excess carbs, sugar, and alcohol.  He exercised regularly, kept his weight and body fat (BMI) well below suggested levels. He did not smoke. He was the picture of health. So much so that he coached other individuals and helped them reduce their stress, weight, and increase their physical activity. Then he had a heart attack…

Bob Harper, the host of Biggest Loser, was struck by one of the silent killers of men and women in our society.  Fortunately, his physical condition helped him survive and subsequently recover from the attack.  Now he is on a mission to alert the public to the importance of health screening for the various Silent killers.  Conditions like Heart Disease, Hypertension, Cancer, Diabetes and Stress to name a few.

Many parallels can be drawn between Bob and any number of clients and prospects we come into contact with on a daily basis as it relates to their financial wellness.  Do any of these sound familiar…?

He/She worked hard for 40 years, always saved, contributed to a 401K or IRA, kept life insurance and health insurance in force, paid off his mortgage and reduced his debt to zero.  Then he retired…

  • Within a couple of years, the equity markets took a substantial bite out of his portfolio, to the extent that he is worried about his ability to maintain his lifestyle…
  • Or
  • 2 years later he was diagnosed with dementia and is worried about the affect the cost of care will have on his portfolio and the income it is expected to generate for his wife and himself….
  • Or
  • He/She retired at 67 and now, 3 years later, he is required to take RMD’s from his sizeable portfolio.  In the 3 years since his retirement, there has been a substantial shift in the political powers and new tax rates are in affect that will take a bigger bite out of his RMD’s than he anticipated.

These are examples of the silent killers to financial wellness.  Things like Market/sequence of returns, Taxes, Longevity, Inflation and Extended Care costs.  Our role is to help screen clients and prospects for their exposure to, or likelihood of being adversely affected by, these silent killers.

This month, Financial Wellness month is a perfect time to remind the public to be on guard for and to get screened by a financial professional for these silent killers.

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Considering Your Annuity Replacements Options Due to The Recent Market volatility

Josh Ver Hoeve, VP of Annuity Sales

A frequent conversation the annuity sales desk is having right now is related to annuity replacements. Due to recent market volatility we are receiving more and more calls looking to replace variable annuities that have market risk and/or high fees. Most clients are not able to handle the market volatility, especially when limited to their investment choices for upside potential. Some of you may have seen back in October that Ohio National announced to eliminate brokerage arrangements and stop the sale of variable annuity business.

Click Here To Read The Whole Article.

Others are aware of a choice made by VOYA about a year ago to settle out variable annuity income riders to clients, and now like Ohio National, VOYA is no longer in the annuity business. Even with a predominate bull market the past ten years, just a couple of volatile days in the markets have clients asking for safety – and rightfully so. FIA sales are beginning to increase while VA sales decrease. What advisors and clients are realizing is that with recent product innovation, FIAs are the best of both products.

Let’s start off this new year by making sure our clients are financially well. Based on these recent trends, we should be asking our clients the following questions:

  • Do they have annuities purchased within the last ten years that are doing what they wanted them to do?
  • Did they have an income rider but no longer need income or vice-versa?
  • Do they have an accumulation product that now is needed for income?

Asset Marketing Systems is committed to providing you with the newest and most competitive product solutions for your clients. This month we are highlighting two annuities you may not be too familiar with:

North American Versa Choice: An FIA loaded with benefits; high liquidity and income guarantees that double for home health care (2 out of 6 ADL trigger). The product also has accumulation potential.

Click on The PDFs below to Learn More About These Benefits

NAC versa choice 10 ELB

3 in 1 design

North American also has a great client brochure to help understand income needs.

Bridging the retirement gap

Delaware Life: Another FIA with an incredible income guarantee product called the “Target Income 10.” They recently increased their income guarantees on this product to be even more competitive. Delaware Life will not always be #1 on a guaranteed income spreadsheet but they are almost always in the top three and are #1 in many scenarios. If you are going to stick with a guaranteed income product and are not sure the exact year in which you want to trigger income, this is a great option. They will win in a lot of cases, but will always be competitive if something changes and you need income sooner than later. Click on the product guide here.

Contact our team today for more information on any these featured products! We can also help with any niche product recommendations and positioning, comprehensive product detail analysis, and sales concepts.

(866) 546-5267 | Option 1

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