Virtual Accountability Introduction When the Coronavirus pandemic disrupted business as usual in 2020, many financial services leaders were left wondering how to recruit in a world where meeting candidates in person was suddenly impossible. Like many business owners, they had a choice of either adapting to this new environment or waiting it out and hoping for the best. Most realized early on that adapting was the only real solution. And after several months of working in a virtual world, many have also realized that virtual recruiting provides unexpected benefits. Even if the pandemic had not [...]

Virtual Accountability Introduction In March of 2020, financial services professionals suddenly found themselves unable to meet in person with their clients, peers, and teams. For many, this was, at least initially, a significant disruption. Agency and firm leaders were challenged with supporting and motivating their—now virtual—teams while at the same time maintaining productivity and attempting to get back to business-as-usual. Remote work isn’t new. In 2017, approximately 43% of employed Americans spent at least some time working from home. By the end of March 2020, however, 62% of employed Americans were working from home regularly. That number [...]

Virtual Onboarding Introduction With more and more agencies and firms working virtually, many leaders are bringing new financial services professionals on board whom they have never met in person. Given the significant relationship-building focus of the profession, some leaders are asking if it’s possible to successfully launch new agents and advisors in a virtual world. The answer from many of the experienced leaders we spoke with is a resounding, “Yes!” Bringing new people on board in a remote environment is not without its challenges, however. Developing a sense of camaraderie and belonging may be difficult [...]

The Power of Storytelling Storytelling is a powerful tool that can help you close more sales, increase your revenues, and even recruit new agents or advisors. No matter what you are selling, whether it is insurance, investments, or your business, personal stories activate different areas of the brain that facts and figures don’t touch. People tend to make decisions based on their emotions, not their minds. If you are worried that you may not have any stories of your own to tell, you can use other stories from friends, family, and colleagues.Next time you speak with a [...]

Stop Procrastinating How often do you do things you don’t need to do so you can avoid doing something you are supposed to be doing? We all put off things sometimes, both in our personal and business lives, so there is room for all of us to become more productive. Why We Put Things Off Procrastination is the gap between what we know we should be doing and our actions. When it comes to self-sabotage, procrastination is king. We know what we need to do, but for whatever reason, we put it off. The bigger the [...]

Don’t Shortcut the Learning Process Ancient Chinese philosopher Confucius expressed his belief in the importance of learning from interaction when he wrote, “I hear and I forget, I see and I remember, I do, and I understand.”There are no shortcuts when it comes to being successful, just as there are no shortcuts when it comes to gaining knowledge and understanding.Why We Must Get Training RightThe training you offer can distinguish your firm or agency from others, which in turn can help you attract top talent. This is one area in which you just cannot take shortcuts. According [...]

Why E-Learning Is Effective Corporate training managers are constantly searching for new methods that will be more effective — and cost-effective — to ensure as high a return as possible on training. They like e-learning, or online training, because it is quite affordable when compared with classroom-based training. With e-learning, you can avoid expenses associated with travel, trainers, facilities and course materials. Plus, you’ll never have to update, correct or reprint course materials because the online versions are always upto- date. And e-learning is far more convenient for trainees who work in different offices throughout the [...]

Train Sales Leaders, Not Just Sales Associates When budgets get cut, training is sometimes one of the first casualties. And if training survives the cut, often it includes training for just the salespeople. But it’s just as important to train your sales leaders. Because of cost restrictions, very few organizations have created management development programs. That means most companies do not have a formal plan for how to train and lead others. Sales leaders have been neglected for decades because most companies invest in training their sales force, but few have formal training and development programs [...]

The Power of Persuasion Many of the methods we use to persuade and motivate others such as nagging, pleading, coercing and brute force, not only fail to work, but many times, they make things worse by making people mistrust or even become angry. Some persuasion tactics will not only hurt the cause, but damage relationships by creating resentment or remorse. Effective persuasion is different. It’s subtle, unsuspecting, and non-confrontational. The human mind is surprisingly malleable and easy to manipulate, if you know what it is you want and what you’re doing. When you effectively persuade, you [...]

A Simple Way to Get More Out of Your Training Investment In working with companies of all sizes, we see a lot of wasted effort related to training. One mistake companies make is failing to focus on accountability and implementation after sending salespeople through training. We Forget Most Training Almost Immediately In 1885, German psychologist Herman Ebbinghaus proposed what he called the “forgetting curve.” He created a mathematical representation of the exponential rate at which we lose a memory “if no attempt is made to retain it.” In general, about 70 percent of a memory is [...]

Who Died First? How Life Insurance Benefits Are Paid When the Insured and Beneficiary Die at the Same Time Life today is very different from what it was in the past. We’re a mobile society, using planes, ships, trains and cars to get where we need to go. Travel disasters happen frequently, from vehicle crashes on highways to devastating plane crashes. We also live in a society of violence. On any given day, there are news reports of shootings, murders and terrorist attacks. There are also natural disasters, such as explosions, floods and fires, that end [...]

Think Twice Before Promoting Your Star Producer into Management When an agency or firm needs a new sales manager, top management’s logical first choice is often the star sales producer. Most top performers are excited about the promotion, and they don’t want to let their bosses down, so they take the job. They think it would-be career suicide to turn it down. That’s why many top salespeople end up taking a sales management role, even though they never really wanted to be a manager. They want to please others around them, and they want to help [...]

Mentoring Opportunities and Benefits Let’s admit it — the financial services business can be tough. It requires selling products to individuals who really need them but who often are in denial about this fact. That’s why there are two parts to learning how to become a successful professional in the financial services industry: Acquire the education and knowledge to build a successful and ongoing practice while having the confidence to engage prospects and clients in healthy and honest discussions. Develop the sales skills needed to take clients through the process of discovery to recognize their needs [...]

How to Build a Great Culture For its 2016 “Great Place to Work” rankings, Fortune magazine chose seven insurance and financial service providers. An announcement noted, “These companies develop managers and policies that build employee trust through active listening and creative problem solving, and they foster a workplace culture where individual success and performance trumps overall productivity benchmarks.” In financial services, it can be difficult to “value collaboration and integrity over bean counting,” which is one of the factors the Fortune selection committee uses to recognize companies with winning cultures. Your culture is defined by what [...]

How Mobile Apps Improve Productivity With the constant growth in the power of tablets and phones, there has been a constant shift in the preference from traditional websites to gadget applications. Apps: Convenience on Steroids According to research, mobile users spend some 86 percent of the time on their smartphones or tablets, accessing their mobile apps. The apps are not only used as a source of daily information; they also form a platform for the interaction between companies and their field force and consumers. Some 68 percent of users employ apps this way. Companies use [...]

Why Review a Client’s Tax Return? Federal income tax returns are one of the most easily accessible and revealing road maps for determining your clients’ financial needs. Reviewing tax returns can provide you with a whole new level of insight about their individual financial situations. Even more importantly, it can add increased value to your client relationships. Reviewing tax returns gives you the chance to identify more opportunities to provide value to your clients. It also can reveal details they may have failed or forgotten to share with you when you completed the fact-finding process. Please [...]

 Tips for College Planning  If you want your children to benefit from a college education, it’s never too early to start saving. A college education is expensive and might be one of the largest outlays you ever make. The good news is that families who want to save for their children’s college education now have more options available than ever before. An investment in a child’s college education has the potential to result in a lifetime of increased earnings. According to the College Board’s report “Education Pays 2016,” full-time workers ages 25 and older with a [...]

Overcoming Phone Anxiety Do you feel anxious whenever your phone rings or you must call someone? Do you worry about what you are going to say? Are you worried about embarrassing yourself, so you avoid or put off making that call? Do you ignore other people’s calls? Do you constantly replay conversations in your head after you hang up from a phone call? If the answer is yes to any of these questions, you may suffer from phone anxiety, also known as telephobia. While you might think that this isn’t a problem, there are many missed [...]

Leading Your Team to Success: Secrets to Next-Level Sales Management Most people have at least one person in their past who inspired them to greatness they’d never imagined. A grade-school music teacher who saw a savant when teaching Beginner Recorder. A coach who spotted a potential future pro in the kid who showed up early and stayed late for every practice. A college professor who pulled the gifted math student aside to challenge her chess skills. What all these scenarios have in common is an influential leader who inspired someone to do more than they’d ever [...]

How a Strong Firm Culture Builds a Strong Firm The other day, I saw a question that a software company owner posted online. He asked if it’s necessary to be “nice” in business. He was frustrated with employees who’d complained about feeling pressured to work 70+ hour weeks, having to chase new business with a fierce competitiveness and working within a tyrannical internal culture. His feeling was that true professionals are born fighters. I don’t agree. I believe a strong firm culture builds a strong firm. This is not to suggest that success can be achieved, [...]

Benefits of Mobile Apps vs. Websites Advances in computer technology have been dizzying — from fixed desktop websites to responsive design desktop sites, mobile web sites and now apps (applications). In 2017, according to training and development firm Vantage Path, sales of tablets will be greater than those of computers and laptops combined, a worrisome trend for the traditional web, set in motion, ironically, by the successful inclusion of the Internet on mobiles. The traditional web is constantly losing ground to apps. It gets worse — the surge in the use of apps has resulted in [...]

10 Tips for Building a Training Culture Having a strong organizational culture enables you to hire, conduct business and attract clients in a consistent way that aligns with your overall values. With the fast pace of technological change today, a training culture can give you a competitive advantage when it comes to recruiting and retaining the best talent. Imagine that a quality candidate is considering your organization and another one, but you offer continuous training as a benefit. That will normally make the candidate’s choice simple and obvious. Investing in training for everyone in your organization [...]

Legal Planning for a Child with Special Needs One of the most important questions parents who have a child with special needs ask themselves is, “What’s going to happen to my child when I’m no longer here?” To a large degree, the answer to that question will depend on the steps you begin taking today to arrange for your child’s future well-being. Having a child with special needs requires considerable planning, both for the short term and the long term. Taking care of the legal formalities regarding your child’s long-term care will give you peace of [...]

Igniting Passion into Your Firms Culture Whether new recruits or those who have been at their job for a while, passion remains one of the biggest drivers for making sales. When agents and advisors are passionate about their job and passionate about helping their clients, they close more sales. As an owner or manager, the single most effective way you can begin to ignite passion and purpose in your team is through your attitude. If you are excited, positive, and supportive, you will see the same kind of attitude from your producers. Creating a culture of [...]

Keeping the Business Open After Owner’s Death As business owners age without a plan for their business when they die, they risk years of hard work going down the drain because of their departure. Sometimes tragic accidents occur before a business owner can put a plan in place, but many times advanced planning gives business owners the opportunity to realize their business’s maximum value and develop a plan for those who succeed them. Advanced planning also helps avoid arguments, emotions, and feelings which can lead to family and business turmoil after the death of a loved [...]

Getting Ready for Retirement As you spend decades in the workforce, you dream about retirement. As it gets closer, you think about how to bring your dream to life. Each person’s idea of retirement differs based on their goals, desire or need to continue working, as well as other considerations. Regardless of your idea of retirement, you need to consider some specific things and take preliminary steps to get ready for retirement. Financial and life goals, as well as feelings about working and planning for healthcare needs are some of the most crucial factors to evaluate [...]

Four Levels of a Consumer You just made a sale to a new client — congratulations! This is not the end of the sales process; it’s only the beginning. LIMRA research shows that the average buyer of life insurance will buy seven times during his or her lifetime. Also, they’ll buy other products and services, not only on them but on their spouse, children, parents, inlaws, business partners, etc. It’s all based on the relationship, since opportunities are found based on the relationship that you have. Not all consumers are the same. To optimize your marketing [...]

Five Ways to Measure Training Results Although it’s important to measure the effectiveness of training, many organizations don’t take the initiative to see whether they have brought any positive impact to the organization. According to a study carried out by the Association for Talent Development, or ATD (formerly the American Society of Training & Development, or ASTD), only 3 percent of respondents measure the impact of the training on their businesses. Whether you use classroom training, e-learning or a combination of both, measuring results will enable you to determine how effective the training was. [...]

6 Common Challenges E-Learning Can Solve As technology continues to advance at warp speed and as the demographics and dynamics of the workplace change, it’s easy to fall behind. Here’s the good news: many common challenges that companies, firms and agencies face can be solved with e-learning. Here are six key areas in which e-learning can conquer the challenges that erode morale and profits in our organizations. 1. Generational Differences Can Cause a Disconnect With 80 million Millennials in the population, these 17- to 36-year-olds (in 2017) are the largest generation to date. Myriad companies [...]

Facts About Retirement and Medicare The rising cost of health care in the United States has become a worrisome risk to a financially-secure retirement. With that in mind, it’s important to understand the various components of Medicare, the federal government program that provides health insurance to most Americans age 65 and older. For Americans 65 and older, any conversation about health care must include Medicare. Your eligibility for this program at age 65 means that your health insurance will likely become more affordable, and you won’t be denied coverage for pre-existing conditions. It’s important [...]

Medical, Financial, and Educational Planning For a Child With Special Needs To ensure that your child with special needs receives the best possible care in all aspects of his or her life, it’s important to do thorough, advance planning. In this white paper, we cover 3 important types of planning: Medical planning— How can you best obtain and pay for the specialized medical care your child may require? Who will oversee your child’s medical care when you’re no longer here? Financial planning— What steps can you take to guarantee that your child will have a financial [...]

Live “Happily Ever After” with a Strong Financial Foundation Do you plan to get married soon? The time to begin talking about the financial partnership you’ll be forming together once you’re married is before the nuptials. When you build a strong foundation of financial partnership at the beginning of your relationship, it will prevent many costly and stressful situations later. Nearly half of Americans (48 percent) who are marriedor living with a partner say they argue with the person over money, according to a survey of more than 1,000 people by The Cashlorette, which is owned [...]

Teaching Kids About Money Parents are a crucial part of their children’s financial education. Research has shown that parental modeling and teaching has more positive, impactful, and long-lasting influence on financial attitudes than academic-based programs. How, what, and when you teach your kids about money are personal decisions determined by your values and experience.Start EarlyIt’s never too early to start teaching children about money. Otherwise, until they start earning a living, it’s easy for kids to think that money “grows on trees”! Parents magazine offers tips for ways to teach children about money from ages 2 through [...]

Social Security and Retirement Nearly nine out of 10 Americans aged 65 or older currently receive Social Security. The Social Security Administration estimates that 21 percent of married couples and 43 percent of single seniors rely on Social Security for 90 percent or more of their income. Whether you are planning to retire in 20 years or 20 days, it’s crucial to understand Social Security, how to qualify for benefits, taxation of Social Security benefits and how working after retirement might affect your Social Security income. This broad overview of the most important aspects of Social Security [...]

Engaging Advisors with the Essentials of Digital Learning The past two years have shone a spotlight on digital learning. While some companies already had robust digital learning platforms in place at the onset of the COVID-19 pandemic, others struggled to engage a newly remote workforce in a fully virtual environment. In both cases, the digital learning experience — and its effectiveness — came under greater scrutiny than ever before. The debate over in-person versus online learning is not new. And now — as we begin to move out of the pandemic — some training organizations [...]

What Attracted Mutual of Omaha to Choose Trustworthy Selling? Mutual of Omaha implemented Trustworthy Selling as part of an organizational strategy to increase their advisors’ focus on needs-based selling over transactional selling or product-focused selling. The company went through the first step in its transformation strategy by revamping its systems to identify, attract and select candidates who were more relationship-focused. Trustworthy Selling was an extension of the company’s strategy to ensure new recruits were onboarded and trained with the knowledge and skills to establish enduring relationships with their clients. Download the Full Case Study Here [...]

Virtual Accountability What is an Accountability Culture? In our recent whitepaper on virtual accountability, we defined personal accountability as "delivering on a commitment and accepting responsibility for the outcome." Personal accountability is an internal force that drives behavior. Your agents and advisors can choose to hold themselves accountable. At best, you can impose consequences; you can't compel them to feel personally accountable. However, what you can do as a leader is create a culture that supports and nurtures accountability by applying what we call the three E's: Expectations, Environment, and Encouragement. In their [...]

The Power of Storytelling Since LinkedIn launched in 2003, the professional social networking site has grown to more than 630 million registered members. In addition to the basic and premium services, LinkedIn Talent Solutions offers LinkedIn Recruiter, a platform to search, connect with, and manage candidates. Regardless of which level you use with LinkedIn, it can be a powerful tool for finding new associates for your agency and remains the preferred method of recruitment for most businesses. Facebook and Instagram are gaining in popularity, especially to reach younger applicants who aren't as active on LinkedIn. [...]

Financial Considerations for Special Needs Children The Centers for Disease Control and Prevention (CDC) estimates more than 60 million adults in the United States, approximately one in four, live with a disability. Struggles with mobility, cognition, hearing, vision and other impairments make it difficult to make decisions, provide adequate self-care, and live independently. As the parent of a special needs child, you know these struggles; you have been there to guide, support, and aid your child since birth. With your dedication to providing extra guidance and care, you have most likely lost sleep thinking about how [...]

Getting Ready for Retirement As you spend decades in the workforce, you dream about retirement. As it gets closer, you think about how to bring your dream to life. Each person’s idea of retirement differs based on their goals, desire or need to continue working, as well as other considerations. Regardless of your idea of retirement, you need to consider some specific things and take preliminary steps to get ready for retirement. Financial and life goals, as well as feelings about working and planning for healthcare needs are some of the most crucial factors to [...]

The Importance of Measuring Training Results It is important to measure the effectiveness of training, yet many organizations don’t take the initiative to do so. If you don’t measure the impact, you won’t know whether your training is worth your investment. According to a study carried out by the Association for Talent Development, or ATD (formerly the American Society of Training & Development, or ASTD), only 35 percent of talent development professionals evaluate the business impact of their learning programs. The study noted that measuring the impact of training can encourage better work from employees and [...]

There Is No DNA That Delivers Great Sales Skills Training is an important investment in the people who represent your organization and drive revenue. When you train people, it makes them more valuable to your organization and helps you retain them. We can’t expect that people will arrive at our firms and agencies already knowing what they need to know to excel in this often difficult career. There is no DNA that delivers great sales skills. Today’s Employees Want to Learn and Grow in Their Careers Today’s employees, especially millennials, fundamentally think about [...]

Think Twice Before Promoting Your Top Producer Your top producer is such a superstar that it makes sense to promote him or her into management, right? Maybe not. Remember the classic “Peter Principle”? It was Laurence J. Peter’s management concept that in any kind of hierarchy, people tend to rise to their “level of incompetence.” In other words, as people are promoted, they tend to become progressively less effective because good performance in one job does not guarantee similar performance in another. A lot of managers look at their star performers and think, [...]

Stop Procrastinating! Do you find yourself frequently putting off tasks you dread? Do you often wait until right before a project is due because you “work better under pressure?” If so, you are not alone. According to the Association for Psychological Science, 20 percent of us are chronic procrastinators. There is room for all of us to become more productive. Why We Put Things Off Procrastination is the gap between what we know we should be doing and our actions. When it comes to self-sabotage, procrastination is king. We know what we need to [...]

How to Stay Productive in Changing Times Massive change is upon us. Speculation about how governments and businesses will handle the COVID-19 crisis has given way to a new quarantine reality. The good old-fashioned handshake is out. Social distancing is in. As those of us in sales and customer-facing roles try to navigate the new work-from-home reality, we thought it would be a good time to offer some strategies for how to stay productive and keep momentum (and morale) as high as possible. Certain industries and professions are particularly impacted by the COVID-19 social distance [...]

Everyone Wins with Mentoring Let’s admit it - the financial services business can be tough. It requires selling products to individuals who really need them but who often are in denial about this fact. That’s why the two-step preparation process for learning how to become a successful professional in the financial services industry is so important: 1. Educate yourself Acquire the education and knowledge to build a successful and ongoing practice and to have the confidence to engage prospects and clients in healthy and honest discussions. 2. Educate your prospects and clients. Develop the [...]

Don’t Shortcut the Learning Process Ancient Chinese philosopher Confucius expressed his belief in the importance of learning from interaction when he wrote, “I hear and I forget, I see and I remember, I do, and I understand.” There are no shortcuts when it comes to being successful, just as there are no shortcuts when it comes to gaining knowledge and understanding. “You always reap what you sow; there is no shortcut.” —Stephen Covey Why We Must Get Training Right The training you offer can distinguish your firm or agency from others, which in [...]

Leading the 1099 Associates If you are leading 1099 associates — those who are not employees of your company paid on W-2’s — be aware of the U.S. Department of Labor’s guidelines on how to differentiate between employees and contract labor. Because rules and laws vary from state to state and from one company to another, we cannot provide detailed information or advice. It is important that you work with your company or get state-appropriate legal advice to make sure you are not crossing any of the existing boundaries that could get you in trouble. [...]

Use Focused Training Groups to Engage Associates You’ve probably heard these common complaints about training from your mid-tier and top-tier associates: “You offer training only to new hires and neglect those of us who are more experienced.” “You offer the same training to all associates at every level of the career.” “You force training on us that we can’t relate to and don’t find valuable.” LIMRA reports that, according to exit interviews, one of the leading reasons agents and advisors switch firms or companies is that they want the opportunity to grow their practices through [...]

Should You Go Into Management? If you are a top-performing associate, chances are, your manager is likely to approach you about going into management at some point. This happens often, and when it does, it requires a deep soul search to figure out whether to consider it or not. Plenty of producers has left their clientele and practices behind to give management a try, only to discover that they weren’t happy in a management role. Many associates accept the invitation to management because they want to please their managers. Others do so because they aren’t [...]

A Six-Step Guide to Writing an Effective Elevator Talk When you have a polished, well-practiced “elevator talk,” you can easily introduce your practice to potential clients, nominators and referrals in any situation. After all, you never know if you’re talking to that one person who might be able to help take your practice to the next level. Using a short but well-planned elevator talk is an effective way to present your unique value proposition to people in an engaging way. The idea of an elevator talk is to generate interest and open the door for [...]

Financial Literacy — Understanding Social Security's Impact on Retirement Nearly 9 out of 10 Americans aged 65 or older currently receive Social Security. The Social Security Administration estimates that 21 percent of married couples and 43 percent of single seniors rely on Social Security for 90 percent or more of their income. Whether you are planning to retire in 20 years or 20 days, it’s crucial to understand Social Security, how to qualify for benefits, taxation of Social Security benefits and how working after retirement might affect your Social Security income. This broad overview of the [...]

How Everyone Benefits from the Work-from-Home Option Working from home is becoming an attractive option for many people who have long commutes or find that they can concentrate better without the distractions of being in an office. If you are a manager who hasn’t considered the work-from-home option for your agents or advisors yet, it might be time to consider the many benefits. More employers are offering this option than ever. According to the 2017 State of Telecommuting in the U.S. Workforce Report, the number of people telecommuting in the United States increased 115 percent from [...]

Become a Master Communicator: The Importance of Body Language Every good business relationship begins with strong communication skills. Whether you are meeting a client face to face, skyping with someone halfway across the world or giving or listening to a presentation, communication is always in play. But the best communication consists of more than speech, more than the words you use. The most effective communicators realize that creating empathy and understanding involves not just your voice box, but your whole body. Body language and nonverbal cues are critical to strong communication. Consider what happens when [...]

Why You Should Convert Classroom Training to E-Learning Traditional classroom training will soon be a thing of the past. E-learning is becoming the new norm because it is highly effective as a learning method, and it is extremely cost-effective. It’s Effective and Cost-Effective One study that compared e-learning with traditional classroom training reports these compelling numbers: Learning material through e-learning typically requires 40 to 60 percent less employee time than classroom training. E-learning increases retention rates 25 to 60 percent. E-learning participants learn nearly five times more material without increasing the time they spend in training. [...]

5 Reasons Insurance Agencies Should Invest in Video Content Regardless of which marketing information source you consult, video content has become the most powerful digital marketing tool to reach consumers. Numerous marketing surveys and studies reveal more than 50 percent of consumers prefer to see video content from the brands and businesses they support; and, video content has edged out-static photo images as the best performing content for businesses. If you are not leveraging the power of video content to increase your brand awareness and capture leads, it's time to jump on the bandwagon. Video [...]

Avoid "One and Done" Training Training would be much more effective if we could remember all the new information we are exposed to. According to Psychology Today, there is really no such thing as “photographic memory,” although some people can recall information vividly and in great detail. The phenomenon that comes closest is “eidetic memory,” which shows up in about 2 to 10 percent of children, but virtually no adults. “Eidetikers” can hold onto an image for about half a minute to several minutes after it is gone. If you give them 30 seconds to look [...]

How Well Are Your Selling and Marketing Efforts Aligned? Selling and marketing are two critical components of any advisor’s practice. Although people sometimes use these two terms interchangeably, they are quite different. In their 1985 book, Positioning: The Battle for Your Mind, Al Ries and Jack Trout defined marketing as “the battle for the customer’s mind.” Selling is the result of marketing; it’s the practice of closing a sale. Marketing is everything from discovering the name of a potential client all the way up until you are eyeball to eyeball, belly to belly in front of [...]

5 Skills of Effective Leaders We have found that most effective and successful leaders embrace and excel at five skills.  In this blog, we will discover and explain each to help you down your path of management excellence. 1. Create a Shared Vision for the Organization Your vision must be clear, compelling, and well-articulated. The staff must buy into the leader’s vision and have passion for it. Having a vision will help ensure that you are looking to the future and building your organization instead of just reacting to daily situations and priorities. [...]

Don’t Let Success Make You Complacent The old saying goes, “If it ain’t broke, don’t fix it.” That adage might apply to computers and cars, but it’s not a winning strategy in business. When we lose clients or market share, or when revenues dip, we are quick to find out what’s going wrong and how to fix it. But when everything is going well, business is humming along and both clients and team members seem content, that’s a great time to take a close look at your agency, firm or practice. Merriam-Webster defines complacent as [...]

Financial Impacts of Divorce Going through a divorce is never an easy process; and, the longer you have been married, the harder it is to make that break. The breakup of a relationship and possibly a family can wreak havoc on your emotional well-being, but divorce also has considerable financial impacts for both parties. Whether your employees or your clients are considering divorce, or actively going through the process, they need to understand the financial impacts of divorce. Some divorcees find themselves dealing making financial decisions when their ex-spouse handled household finances. Others struggle financially [...]

Hey Kids, Money Doesn't Grow on Trees! As parents, our primary job is to teach our children how to survive in real life when we are not there to help them. Learning the value and how to effectively manage money is at the top of the list for survival life lessons for our kids. If you have little ones, start early; but, if you have teenagers, it's never too late to teach them that money doesn't grow on trees. Every family is different and household income might prevent some approaches to teaching the value of [...]

Building Professional Relationships in Your Community With the exponential growth of the internet, the increased popularity of social media, and the use of these platforms to build brand awareness, communicate with clients and recruit new talent, the art of physically speaking to another person sometimes goes by the wayside. Digital marketing and recruitment are incredible tools that can help you grow your business, but building lasting professional relationships through face-to-face interaction still remains a critical part of running a growing firm. Meaningful community involvement can help increase brand recognition, generate leads for prospective clients, and [...]

Working Together: Retirement and Medicare After spending decades in the workforce, retirement should be a time of relaxation, travel, spending time with family and friends, and doing the things in life you enjoy. Yet, the continuous rising costs of healthcare in the United States threaten the financial security of seniors, forcing some to give up the kind of lifestyle they hoped for during retirement. Fortunately, the federal government provides health insurance to most American citizens who are at least age 65. This broad overview about Medicare, eligibility, enrollment, and coverage will give you a general [...]

The Power of Storytelling Since LinkedIn launched in 2003, the professional social networking site has grown to more than 630 million registered members. In addition to the basic and premium services, LinkedIn Talent Solutions offers LinkedIn Recruiter, a platform to search, connect with, and manage candidates. Regardless of which level you use with LinkedIn, it can be a powerful tool for finding new associates for your agency and remains the preferred method of recruitment for most businesses. Facebook and Instagram are gaining in popularity, especially to reach younger applicants who aren't as active on LinkedIn. [...]

Why You Should Build a Training Culture Having a strong firm culture enables you to hire, conduct business and attract clients in a consistent way that aligns with your overall values. Specifically, a training culture can give you a competitive advantage when it comes to recruiting and retaining the best talent. Imagine that a quality candidate is considering your organization and another one, but you offer continuous training as a benefit. That makes the candidate’s choice simple and obvious! Investing in training for everyone in your organization shows them that you value their professional development [...]

Setting Up Your Talent Pipeline [fsn_row][fsn_column width="12"][fsn_text] One of the major goals of a thriving business is to outfit a team with top-tier talent at every level to establish a strong core that continually promotes growth and success. Securing the right prospects to round out a team — whether in a specialized role, a high-turnover position, or in a competitive market, like financial services — requires being proactive in recruitment. This means being ten steps ahead, rather than waiting to start a search once a role opens up. One proactive approach with value is to set up a [...]

Four Ways to Measure Training Results Although it’s important to measure the effectiveness of training, many organizations don’t take the initiative to assess their training processes to see whether they have brought any positive impact to the organization. According to a study carried out by the Association for Talent Development, or ATD (formerly the American Society of Training & Development, or ASTD), only 35 percent of talent-development professionals surveyed reported that their organizations evaluate the business impact of learning programs. The same study noted that measuring the impact of training can encourage better work from [...]

Financial Considerations for Newly Married Couples With memories of your special day and honeymoon bliss, it's back to reality. Money is the leading cause of stress in most marriages and for years, research studies and surveys have cited financial issues as the top, or near the top reason for divorce.  Even though you might have different opinions and philosophies, communication is the key. You should have addressed concerns about money, debt, and financially planning, prior to getting married, but now that you are hitched, it's time to make sure you are on the same page [...]

Recruiting from the Candidate's Perspective [fsn_row][fsn_column width="12"][fsn_text] Recall, for a moment, your last interview. Without being facetious, was it in this decade? It is often said that we learn from our past, or use our experience and current standing as a validation of success. But when was the last time you actually experienced your company’s recruiting process? This is truly something to consider when exploring how to evaluate and improve your talent acquisition procedures. When considering process improvement, it is valuable for recruiters to take time to literally act out the entire recruitment process as well as to [...]

Have You Tried E-Learning Yet? Corporate training managers are constantly searching for new methods that will be effective — and cost-effective — to ensure as high a return as possible on training. They like e-learning, or online training because it is quite affordable when compared with classroom-based training. With e-learning, you can avoid expenses associated with travel, trainers, facilities, and course materials. Plus, you’ll never have to update, correct or reprint course materials because the online versions are always up-to-date. And e-learning is far more convenient for trainees who work in different offices throughout the [...]

Considering a Management Role – Consider Two Key Responsibilities Top financial and insurance producers who are considering a move into management often wonder how a leadership role differs from that of sales. Obviously, recruiting is the most important role managers play in a firm or agency. Two other vital functions are facilitating and participating in joint calls with associates and building accountability into producers’ sales efforts. Going on Joint Calls with Associates Most managers are expected to go on joint sales calls with their new associates. The most effective approach is to help [...]

How to Build an Insurance Agency the Right Way You've created a business plan, focused on logistics, and launched your insurance agency. Perhaps you've been in business for a few months or a few years. Once the dust settles from your initial launch, it's time to revisit, reevaluate, and reset your goals, so your agency continues to thrive. This guide extends beyond the logistics of starting an insurance agency and provides detailed information on how you can grow your business, boost your work culture, and optimize digital marketing tactics, resulting in improved overall performance. [...]

How to Prospect for Life Insurance Clients on Social Media Pew Research Center estimates approximately 70% of those in the United States use at least one social media platform for entertainment, information, and connecting with others. When examining social media use by age group, 88% of those from 18 to 29 use at least one social media site, and 78% of those 30 to 49. More than half of all users spend time on a social media platform at least once per day, with Facebook as an exception; three out of four Facebook users visit more [...]

Formality in Training Develops Discipline Two of the most important individual traits of success are drive and discipline. In Albert E.N. Gray’s “Common Denominator of Success” talk decades ago, he stated, “The secret of success of every man who has ever been successful lies in the fact that he formed the habit of doing things that failures don't like to do.” Having discipline allows us to form the habits we need to become successful. This is true in all walks of life, whether it’s improving one’s golf swing or making the required number of calls [...]

The Benefits of Allowing Producers to Work from Home Working from home is becoming an attractive option for many people who have long commutes or find that they can concentrate better without the distractions of being in an office. If you are a manager who hasn’t considered the work-from-home option for your agents or advisors yet, it might be time to consider the many benefits. More employers are offering this option than ever. According to the 2017 State of Telecommuting in the U.S. Workforce Report, the number of people telecommuting in the United States increased 115 [...]

The Formula for Cross-Selling Success High-performing, growth-oriented agencies and firms benefit from a disciplined and strategic cross-selling plan. To “cross-sell” is to sell related or complementary products to an existing customer. Cross-selling is one of the most effective methods of marketing. Cross-selling products and services to existing clients is a primary method of generating new revenue for many businesses, including financial professionals. This is perhaps one of the easiest ways to grow your business because you have already established a relationship with your clients and are familiar with their needs and objectives. Effective cross-selling is [...]

Investment Training in a Box We all know that one of the most exciting days for newly registered representatives is the day they pass their securities exams. Almost like clockwork, as soon as they arrive back in the office to announce that they have passed, they’ll quickly ask the question, “So what do you want me to do next?” Learning About Products and Services Isn’t Enough Although every organization is different and unique, most firms, whether large or small, do not have a solid response to this question. The most typical response is to direct [...]

The Benefits of Reviewing Your Clients’ Tax Returns Federal income tax returns are one of the most easily accessible and revealing road maps for determining your clients’ financial needs. Reviewing tax returns can provide you with a whole new level of insight into their individual financial situations which will, in turn, enhance your client relationships. Reviewing tax returns gives you the chance to identify more opportunities to provide value to your clients. It also can reveal details they may have failed or forgotten to share with you when you completed the fact-finding process. Please keep [...]

Growing Your Business and Building Your Career with a Value Proposition As a business owner, agent, advisor, employee, or job seeker, you have most likely heard the term value proposition thrown around in many different contexts. An agreed upon definition of a value proposition does not exist across business and marketing materials, experts, and consultants. Some approaches to creating and interpreting a value proposition are very technical and others are somewhat loose. In fact, you might even be using a value proposition and not even know it. When done correctly, a value proposition can help [...]

"Always Be Closing": How to Close Insurance Sales & Seal the Deal Whether you are selling thingamabobs, widgets, or insurance policies, on average, three out of ten people will buy from you no matter what, three will not buy even if you overcome every objection, and the remaining six are on the fence. Your job is to convert those last six people into clients. Salespeople from all walks of life receive accolades for good salesmanship and high closing percentages. Yet, their success does not come from outright selling; it comes from not selling. If you [...]

Differentiate Yourself During the Recruiting Process You just met with an excellent candidate. You can’t wait to get that person back in the door because you know this caliber of potential advisor won’t be available for long. So how do you keep candidates like that thinking about you? By showing them, not telling them, more about four important topics: The industry The career opportunities available The value and the life-changing impact they could deliver in their communities to help local individuals, families, and businesses Your training program Without a doubt, recruiting is the top priority in growing an agency, [...]

Make an Impression with Your Elevator Talk An elevator talk is one of the most important 30-second conversations you will ever have. The short explanation which you give to tell others what you do is commonly referred to as an “elevator talk” because it is meant to capture the interest of your prospect in the amount of time it would take you to take a short elevator ride with someone. This is a follow-up article to my recently published "A Six-Step Guide to Writing an Effective Elevator Talk". You have only a short amount of [...]

Considering a Management Role — Four Recruiting Steps Top-performing producers often consider going into management and wonder how their duties would be different in a management role than they are in their role as an agent or advisor. If your management team has asked you to consider becoming a manager, congratulations! It’s a compliment to you that you are being considered. It means that others within your company and firm appreciate what you are doing, and they recognize that you have a lot of potential. However, a role in management is not a [...]

How to Implement Ideas Learned at a Conference or Seminar There's nothing like a conference or seminar to motivate everyone and ignite our imagination. We come away with new ideas and new ways of looking at our industry and our role within it. We all like to think we will get back to the office invigorated and ready to tackle our tasks with a set of fresh eyes and enthusiasm, and business will grow and thrive because of what we have learned at the event. Unfortunately, that's not always the case. More often, we're excited [...]

On a Personal Note - Follow up to "Become a Master Communicator" As a follow-up to my blog “Become a Master Communicator: The Importance of Body Language” I thought I’d share a personal note of what one of my friends and mentors taught me long ago. Insurance great, Tom Wolff taught me a simple but very effective way to remember the key points from my previous blog, Tom's Q, triple L, double R (QLLLRR) formula. QLLLRR Formula The Q stands for when asking a question, the first L reminds us to always look [...]

When it comes to advisor development, many firms prioritize their new hires and fail to provide their experienced advisors with the ongoing development they need. Unfortunately, this means that experienced advisors often miss out on training and development that could help them further not only their careers, but the overall success of the company. Hoopis Performance Network provides tools, resources, and coaching that makes experienced advisor development simpler and easier. The Changing Financial Services Industry The financial services industry as a whole is undergoing some significant changes. Decades ago, those who had the foresight to predict the need for wealth [...]

Training new advisors takes time, energy and money. And, it can be very cumbersome if you don’t have the right systems, tools and resources in place. However, it is clear that when you take the time to truly develop your sales force’s strengths, you can significantly boost engagement, sales, and even profit. Hoopis Performance Network offers a variety of tools and resources designed to guide you as you develop the newest members of your team. How Better Development Boosts Sales and Profit The financial industry is on the brink of a tremendous shift. The number of people retiring out of [...]

Recruiting and selection is a common issue in many industries, especially when it comes to insurance and financial services. After all, in industries like these, the salespeople, agents, and advisors are very much the face of the company, and success lies on their shoulders. As such, selective recruiting plays a vital role in reducing overhead costs and improving revenue. Our tools and workshops, driven by data and results, can improve your recruiting efforts significantly. How Selective Hiring Improves Retention To truly optimize your company, you must first optimize your hiring process. In this case, it pays to be selective because [...]

The best insurance and financial services companies in the world today are those with the best leadership. Leaders exist to provide guidance and direction, and they also serve as examples of who professionals should strive to be. Hoopis Performance Network offers various tools and resources designed to develop and empower leaders, whether they are already a part of your management team or simply test driving a career in management. Importance of Leadership Development It is important to distinguish between leaders and managers in order to better understand the importance of leadership and management. A manager is someone who does things [...]

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Focus on exam results. Etiam consectetur odio erat, quis mattis leo vestibulum non. Fusce ex ligula, tristique quis finibus sed, placerat sed libero. Phasellus convallis, sem ac tristique interdum, purus purus vehicula quam, ut fermentum sem orci in est. Aliquam leo purus, iaculis non condimentum hendrerit, vestibulum quis tortor. Vestibulum quis viverra felis. Vestibulum elementum magna ut diam placerat, in venenatis est egestas. Vivamus at libero auctor, ullamcorper libero condimentum, pellentesque nunc. In auctor dignissim tristique. Take time out. Aliquam fringilla molestie nisi ut porttitor. Maecenas viverra velit id cursus rhoncus. Mauris sit amet semper enim, quis hendrerit ex. [...]