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Next Item Previous Item Go back to White Papers List 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, individually or as a firm, without focus, energy, initiative and passion. It can’t. Success can be achieved, however, in a culture that values integrity, employees, compassion and high ethical standards. I believe that a strong firm culture develops and sustains a strong firm. Employees who are part of a strong culture that aligns with their own personal values tend to be more engaged in the organization, and therefore more productive. This article makes the case for a strong firm culture that emphasizes happy employees and strong values. It also lays out a framework for analyzing your firm’s culture and strategies for making improvements where needed. Take a Cue from Scrooge Who doesn’t know the story of Ebeneezer Scrooge, the penny-pinching, mean-spirited old grouch of a business owner who Charles Dickens brought to life in his 1843 novella A Christmas Carol? As the story went, Scrooge was an aging and bitter business owner with no family of his own. The ghost of a deceased former business partner was haunting his subconscious. Scrooge had one lone employee, Bob Cratchit, to handle the company’s books and collect from customers with the ferocious zeal of an IRS agent working for a bonus. A family man with a disabled son named Tim, Cratchit meekly asked Scrooge for Christmas Day off from work. It was a request for which he would pay dearly in the form of nonstop verbal and emotional abuse from Scrooge. Scrooge eventually granted Cratchit Christmas Day off without pay, only because of the Christmas custom. Besides, no businesses would be open for business on Christmas Day and, thus, no collections could be made. Bob eventually persuaded the sad and lonely Scrooge to join the humble Cratchit family for Christmas dinner. Scrooge saw the positive spirit of the sick son, Tim, and the struggles of this loving family to make ends meet on the paltry wage Scrooge was paying. He heard the warnings of his ghost-partner, Jacob Marley, urging him to choose love over money. Eventually, Scrooge rose to become a business owner who knew the value of values. He learned that a happy employee with a healthy work–life balance could help him build a successful firm. Happy Firm, Happy Life OK, I’m taking some liberties here with the old phrase, “happy wife, happy life.” A happy employee is absolutely necessary to building a strong firm. Employees who come to work excited to fulfill the firm’s mission, effervescent with energy and ideas, and with a plan and the focus to execute the plan are typically successful employees. Successful employees set goals. They meet and exceed deadlines. They contribute to the success of their teams and to the firm as a whole. Compare these successful employees with the disgruntled employee who chronically shows up late or barely on time. The one who has a tired, disinterested look on his face. The one who takes too-long lunches, shuffles out early and complains to co-workers about colleagues or leadership. Employees like that are a cancer to an entire organization. They can breed negativity throughout the ranks with their bad attitude and divisive behavior. They can turn a high-octane sales meeting on its head with disruptive comments and sighs or scare off potential clients by complaining or being unprepared. Imagine what can happen to a firm in which many employees give off an unprepared and negative vibe. If your firm isn’t fostering a strong and positive culture, you will end up with a weak and negative firm. Studies prove this point from many angles. Let’s take a look at some eye-opening facts. Happy Employees Are Up to 20 Percent More Productive than Unhappy Employees A study conducted in 2015 by Competitive Advantage in the Global Economy looked at the correlation between employee happiness and workplace productivity. This study found that happy employees give more effort at work. As a result, they are 20 percent more productive than unhappy employees. This is not to say that happy employees are more productive because they are working more hours. Happy employees know when to put in extra time and when to take a break. They aren’t distracted with unattended at-home responsibilities or with a fear of unreasonable demands at work. As a result, happy employees are free to focus on work tasks at hand because they are not distracted by stress. They are properly rested, and they are physically and mentally strong. They have a clear focus for achieving goals at work and responsibilities at home. Happy Employees Are More Accurate in Their Work than Unhappy Employees Perhaps because of their state of happiness, happy employees are not only more productive than unhappy employees, they’re also more accurate in their work. According to the same study just mentioned, those employees averaged 19 percent greater accuracy than employees who reported they were unhappy at work. According to the study, the improved accuracy can be attributed to three key factors: Fewer distractions and, thus, better focus Greater investment in personal and organizational results Stronger desire to achieve goals and meet expectations Employees Who Are Encouraged to Live a Healthy Work–Life Balance are Twice as Likely to Be Happy at Work A Robert Half study on workplace happiness found that employees with a happy home and work–life balance were two times as likely as “workaholics” to be happy at work. According to the study, happier employers were also more loyal, more accurate in their work and more productive. Not surprisingly, organizations known to promote a healthy work–life balance also are able to attract and retain happier (and more productive) employees, according to that same study. So what is considered to be a healthy work–life balance? Here are some of the top factors mentioned in the study and other employee surveys: Flexible work options — Telecommuting and working from home are no longer new concepts. According to the Robert Half study, these are important factors that successful employees consider when choosing an employer. Flexible schedules — Flextime is an increasingly common option, allowing employees to combine work, home and downtime into a schedule that promotes personal productivity. Healthy-living support — On-site gyms or gym memberships, employer-sponsored wellness programs and stress-management programs have been shown to improve employee happiness, productivity and retention. If your firm lacks the financial or human resources to manage a wellness program or offer flexible working arrangements, there are other things you can do to promote a healthy work–life balance for employees. Here are just a few ideas: Contact your health insurance provider to see if it offers wellness programs, wellness incentive initiatives or other programs at no cost to your firm. I know of a few firms whose health insurance plan gives employees up to $30 per month in a health savings account if they wear a fitness bracelet and log 10,000 or more steps each day. Contact local gyms to inquire about workforce membership discounts. 3. Contact wellness professionals in your area to see if they sponsor health fairs or conferences. You might find integrative wellness teams of physicians, nurses and even licensed massage therapists willing to go to your location for a wellness day of health screenings and chair massages. Consider employee incentives that reward productivity with a gift certificate for a massage or paid time off. Look to your corporate vendors for positive ideas. For example, perhaps your retirement plan administrator offers free on-site financial planning workshops, or your accounting firm offers free tax-planning classes. Plan a team-building event annually or quarterly. You can do this to announce a new initiative such as a new corporate code of ethics (more on this below) or to promote a day of fun like a spring picnic, a day at the ballpark or a walk for a cause. A Happy Sales Force Produces Nearly 40 Percent More In his bestselling book The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work, former Harvard professor and popular TEDx speaker Shawn Achor turns traditional thinking on its head. In the book, Achor scientifically lays out why happiness breeds success, not the other way around. When it comes to sales force happiness and productivity, Achor says happy sales reps are nearly 40 percent more successful than unhappy sales reps. If that’s not a compelling argument for doing everything reasonable to foster happiness in your firm, I don’t know what is! You can get Achor’s book new or used here. (Tip: think about giving a copy of this book to everyone on your leadership team to ignite the happiness spark in your firm.) The Case for an Ethical Workplace Happiness and numbers are important, but they’re certainly not everything. A strong firm is supported by a strong code of ethics, which conveys trust and reliability to employees, customers and the community at large. Think about it: if clients don’t trust your firm to act with integrity, will they stay with you? Probably not. Trust is critical to long-term customer retention, and longterm customer retention is necessary for the long-term success of any organization. The problem with the discussion of ethics is that it’s difficult to define. You know it when you feel it. Here are some examples of what ethics looks like (and doesn’t look like): Employees laughing it up by the water cooler might be having a great time and appear happy, but if they’re spending more time at the water cooler than they are on achieving goals, they’re not the productive employees you want. Productive employees respect their employer’s time and money. An employee who will do or say whatever it takes to close a sale might be driving numbers, but if she’s untruthful or doesn’t deliver what she promises, then she’s going to cost you dearly over time. An employee willing to break your rules for clients might be making them happy in the short term, but he is cheating your firm. Those clients’ temporary satisfaction can’t last because in their gut, they know they can’t trust your employee to do the right thing. Creating a code of ethics is important to encouraging team members — requiring them — to act with integrity. It conveys your firm’s values in writing and makes it clear that team members and leaders are expected to uphold those values at all times. A corporate code of ethics is a complex set of ideas and expectations distilled into an easy-to-understand and easy-to-follow guide for employees and leadership. Creating a code of ethics can take a lot of time, but it’s worth it. It protects your firm’s reputation and your client relationships, and it promotes a high-quality workplace and workforce. I recommend reading this guide for help with researching, developing and upholding a strong code of ethics. Once you understand the importance of having a code of ethics and work through the process of creating one, you will increase employee pride in your firm and respect among your clients and within your community. Why Top-Down Passion Produces Bottom-Up Results Happiness alone doesn’t produce results; a happy workforce led by passionate leaders does. You can’t fake passion. If you don’t believe in your firm or love what you do, it’s going to show. Employees, clients and your community will feel your lackluster vibe. On the other hand, if you love the work you’re doing and the impact you’re making, your potential and existing clients will feel your positive energy. High-quality advisors will want to work for your firm. Clients will want to refer you to their friends and family. The community will seek you out for solutions, speaking engagements and leadership roles. If there’s something you don’t love about your firm, from your employee relations or customer quality to your bottom line, or even your interior décor, figure out why and change it. In my white paper “Igniting Passion into Your Firm’s Culture,” I spell out the importance of passionate leadership and a passionate workforce. If you haven’t downloaded this white paper yet, please do. It offers great ideas for finding your passion for what you do and fostering it among your employees. The key takeaways in that white paper center around a common theme: empowering your employees by investing in them. Here are examples of ways to do that: Implementing a mentorship program in which employees are heard, motivated, helped and held accountable Considering and using external coaching and training programs like the ones we deliver at HPN Encouraging and providing continuing education to employees (beyond what’s required by law) Giving recognition where recognition is due Offering incentives and rewards for performance Encouraging an open-door policy that allows employees a safe avenue for discussing concerns and ideas. Without an open-door culture, disgruntled employees might take their grievances to the breakroom instead, and that can spell trouble for your team. In other words, passionate leadership means thinking actively about how to promote and encourage employee success. In the process of educating and supporting happy, productive and ethical employees, passionate leaders naturally deliver success for the firm. Is Your Firm Culture Working? Is your firm culture at the top of its game? Are you and your leadership passionate about tomorrow, satisfied with your numbers and proud of the work you’re doing? Are your employees happy, loyal and productive? If yes, then keep doing more of what you’re doing. It’s working! If not, or if you know in your gut there’s room to improve, then it’s time to think about how to create a stronger firm culture and, ultimately, a stronger firm. We can help. Hoopis Performance Network training and courses are designed specifically to help financial services firms grow and thrive ethically, passionately and successfully. Contact us to see how our team can get to work with you and your team to help you ignite your passion, create a happier workforce and build a stronger firm. How a Strong Firm Culture Builds a Strong Firm

Retirement Expert, Economist and Bestselling Author Tom Hegna Retirement Expert, Economist and Bestselling Author Tom Hegna is the author of 3 books, Paychecks and Playchecks: Retirement Solutions for Life, Retirement Income Masters: Secrets of the Pros and most recently authored Don’t Worry, Retire Happy! Seven Steps to Retirement Security which is based on his popular public television show. Originally from Glenwood, Minnesota, he attended North Dakota State University on an Army ROTC scholarship and graduated with honors. He was commissioned in the U.S. Army and spent 6 years on Active Duty and another 16 1⁄2 years in the US Army and retired as a Lieutenant Colonel in 2006. Tom has been a popular industry speaker for many years and is THE retirement income expert. As a former Fortune 100 senior executive, Tom has dedicated his entire career to helping retirees obtain a happily ever after retirement. He has been featured on FoxBusiness, American College Wealth Channel Magazine, Round the Table, Advisor Today and GAMA Magazine. Tom currently lives in Arizona with his wife and children. Previous Speaker Go back to Speaker Network Next Speaker

Next Item Previous Item Go back to White Papers List 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 shows them that you value their professional development and advancement potential. According to Arie de Geus, head of Shell Oil Company’s Strategic Planning Group and a visiting professor at London Business School, a learning culture is not only a strong source of sustainable competitive advantage; it is a critical corporate asset. He says, “Learning is the only source of sustainable competitive advantage.” Instead of investing in training once in a while — when someone requests it or when compliance requires it — make training a key element of your company’s or firm’s makeup. So how do you build training into your culture in such a significant way that it defines your organization? Here are some tips to get started. Survey everyone in your organization to find out what types of training they want to take. What skills do they want to improve, and what type of training do they prefer — online courses, webinars, on-site classes or off-site classes? Offer training to everyone. Instead of focusing only on advisors, for example, offer training to managers and support staff as well. Hire a training manager. Or assign the job of assessing, scheduling and evaluating training to one of your existing team members. This will show the people in your organization that you are committed to making training an integral part of your culture. Establish a mentoring program. Have your senior advisors mentor newer advisors and offer jointwork arrangements. Consider participating in the MDRT/GAMA International Mentoring Program. Create a coaching program. Coach everyone. Many managers make the mistake of focusing their coaching efforts on the rookies or poor performers. Offer coaching to your top performers. They will value the extra guidance on top-level issues, and it’s important to keep them happy. Leverage the expertise of your own people. Build a company e-learning program that enables your more experienced team members to share their expertise with newer employees. Let them be the subject-matter experts who provide some of the training, and reward them for doing so. Offer training in both “hard” and “soft” skills. Some of your team members need training in skillbased areas, while others probably need training in “soft” skills like negotiation, resolving conflicts and being more customer-focused. Attach specific goals to the training. Ask every team member what he or she hopes to gain from the training and how it can also benefit the organization. After the training, have your managers find out to what extent the training lived up to those expectations. This will help you evaluate the ROI. Communicate and celebrate training outcomes. If a training program was at least partially responsible for a team member being promoted, let everyone in the organization know about it. This is an effective way to reinforce the connection between the training you offer and the advancement of those who take the training. Measure the effectiveness of your training program. Consider using a feedback app, which can contain different sets of several questions for different situations. You can repeat the questions at various intervals to create a trend analysis. Use a SharePoint-based intranet to help employees track the progress they make in implementing improvements. Building a training culture requires an ongoing commitment and strategy. Unfortunately, too many agencies, firms and companies have a set-it-and-forget- it formula, which does not move the needle in the proper direction. The rewards of establishing a training culture will help turn each of your top goals and objectives into reality, in increased productivity, expanded markets, recruitment and ultimately retention. An Effective Training Platform for Managers and Advisors An effective resource for training financial advisors is Hoopis Performance Network, which features online, on-demand, total video-based training built on four Disciplines of Success with access to more than 400 sessions. The coursework can be either self-study or facilitator-led, and it complements any firm, agency or company training programs and marketing selling systems. Your advisors can access the video training anytime, anywhere, on their computers, smartphones, or tablets. It’s a cost-effective, time-efficient way to increase productivity, thus retention. An effective resource for training new or experienced sales leaders is HPN, an innovative virtual platform designed for financial leaders who are building a region, an agency or firm, a sales unit, or a sales team. You can get access to hundreds of high-impact sessions for all levels of experience, divided into five distinct elements of success. These sessions are short and easily digestible, averaging less than 10 minutes. Your managers can access the video training anytime, anywhere, on their computers, smartphones, or tablets. 10 Tips for Building a Training Culture

Next Item Previous Item Go back to White Papers List 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 safety net? What financial aid is available? How should your assets be arranged to best provide for your child’s future financial needs? Education planning — What steps can you take to make sure that your child receives the best possible education? Legal planning is another critical topic to be knowledgeable about. Please see our white paper titled “Legal Planning for a Child with Special Needs” for details on this topic. Now let’s look at important elements of medical, financial, and education planning. Medical Planning The medical treatment required for children with special needs can be expensive, often beginning at or shortly after birth. Without insurance, the cost of medical care is staggering! As a starting point to figure out what types of benefits are available, consult the Social Security Administration’s 2019 guide titled Benefits for Children with Disabilities. Here are some other important factors to consider: If You Have Private Health Insurance: Make certain you understand what the policy will and will not cover, particularly regarding any specialized services, equipment or therapy. Make sure you obtain prior authorizations, or you could end up paying the bill. If your coverage is provided through a health maintenance organization (HMO) or preferred provider organization (PPO), confirm that the specialists your child needs are part of the network. Understand when you can seek out-of-network care and what the cost will be to you. If a claim is denied, get a written explanation of the reason…you may want to appeal and resubmit the claim. Request that a case manager be assigned to your child. That will enable you to work consistently with someone who is familiar with your child’s situation and needs. If You Do Not Have Private Health Insurance: Check with your county social services or Social Security office to determine what assistance is available. Medicaid is a health-care program for people with low incomes and limited assets. In most states, children who get SSI (Supplemental Security Income) benefits, qualify for Medicaid. In many states, Medicaid comes automatically with SSI eligibility. In other states, you must sign up for it. Also, some children can get Medicaid coverage even if they don’t qualify for SSI. In addition, the State Children’s Health Insurance Program (SCHIP) enables states to insure children from working families with incomes too high to qualify for Medicaid, but too low to afford private health insurance. Your state Medicaid agency can provide more information about SCHIP. When Your Disabled Child Turns 18: Medicaid benefits are payable based on the child’s own assets and income, even if he or she is still living at home with you. Health-Care Reform: The Patient Protection and Affordable Care Act of 2010 (health-care reform) has several provisions that can impact medical/insurance planning for your child with special needs. By no later than September 23, 2010, all young adults under age 27 may be able to continue health-care coverage through a parent’s policy. Here are some other provisions you should be aware of: Effective no later than September 23, 2010, individual and group health insurance plans are prohibited from using pre-existing condition exclusions for children and cannot place lifetime limits on the dollar value of coverage. Also effective in 2010, insurers cannot deny or rescind coverage of insureds who become sick. As of January 1, 2014, insurers are prohibited from placing any annual limits on the dollar value of coverage. As of January 1, 2014, most U.S. citizens and legal residents are required to have minimum essential health insurance coverage. Insurers cannot deny or cancel coverage to anyone with a preexisting condition. Health insurance premium subsidies are available to eligible individuals and families with incomes between 100 percent and 400 percent of the federal poverty level (e.g., $25,100 to $100,400 in 2018–19 for a family of four). Individuals with incomes of less than 138 percent of the federal poverty level qualify for Medicaid coverage, unless the state in which they reside opted out of the Affordable Care Act Medicaid expansion. As of January 1, 2019, the penalty assessed to individuals who fail to maintain minimum essential coverage is $0. Financial Planning Financial planning is important for any family, and it’s even more critical for the families who have a child with special needs. Planning well in advance enables you to take advantage of the benefits of compounding interest over time and to ensure that your assets are all in the right place. You don’t want to jeopardize your child’s ability to receive public assistance. Government Benefits: Supplemental Security Income (SSI) benefits are payable to adults or children who are blind or disabled. SSI supplements a person’s income up to a certain level, which varies from state to state. In the case of disabled children under age 18, the parents’ income and assets are considered when deciding if the child qualifies for SSI benefits. Beginning at age 18, SSI benefits are determined based on the disabled person’s income and assets. As a result, a child who was not eligible for SSI before age 18 may become eligible at age 18. To qualify for SSI benefits, the disabled person cannot have “countable resources” (assets) in excess of $2,000 or “countable income” in excess of the maximum federal benefit rate. In the case of ABLE Accounts, discussed below, the first $100,000 in an ABLE Account will be disregarded for SSI benefit purposes. Additional financial resources are available through state and community programs. Consult with the appropriate federal, state, county, and/or local agencies for assistance. Other Financial Considerations: A Special Needs Trust The purpose of a special needs trust is to provide financial assets for your child’s future care and well-being, while maintaining his or her eligibility for government benefits, such as Social Security, Supplemental Security Income, Medicare, or Medicaid. Please see our white paper titled “Legal Planning for a Child with Special Needs” for detailed information on this topic. The Achieving a Better Life Experience (ABLE) Program The Achieving a Better Life Experience (ABLE) Program is designed to help individuals and families use taxfree savings accounts to help finance their longer-term disability needs, without the loss of federal benefits if savings exceed certain limits. The earnings on contributions to ABLE Accounts will not be taxed, and the funds in these accounts will not be considered for the Supplemental Security Income (SSI) program, Medicaid, and other federal means-tested benefits. However, if an ABLE Account exceeds $100,000, SSI benefits will be suspended but not terminated. To be eligible for an ABLE Account, an individual must become blind or disabled before age 26 and (1) receive Social Security Disability Insurance (SSDI) or SSI or (2) file a disability certification under rules yet to be written. Anyone, including the disabled individual, may establish an ABLE Account for an eligible beneficiary. An eligible disabled individual, however, will be limited to one ABLE Account, and total aggregate annual contributions to that account may not exceed the annual gift tax exemption ($15,000 in 2019). Because ABLE contributions are treated as gifts by the contributor for tax purposes, if a donor puts the maximum $15,000 in an ABLE Account in 2019, any other gifts to the beneficiary will trigger the requirement to file a gift tax return. No gift tax will be due in 2019, however, unless the donor has already made more than $11.4 million in lifetime taxable gifts. In addition, Section 529 Plan assets may be rolled over to an ABLE account, up to the maximum annual gift tax exemption ($15,000 in 2019). Both accounts must have the same beneficiary or be related to a member of the same family. Contributions to an ABLE Account will be made with after-tax dollars, but earnings on contributions will be tax-free, and distributions from the account for qualified disability expenses will not be considered taxable income to either contributors or the eligible beneficiary. Qualified disability expenses include any expenses made for the benefit of the disabled beneficiary related to education, housing, transportation, employment training and support, assistive technology and personal support services, health, prevention and wellness, financial management and administrative services, legal fees, expenses for oversight and monitoring, and funeral and burial expenses. Distributions used for nonqualified expenses will be subject to income tax on the portion of the distribution attributable to earnings from the account, plus a 10% penalty. Assets in an ABLE Account can be rolled over, without penalty, into another ABLE Account for either the qualified beneficiary or any of the beneficiary’s qualifying family members. At the death of the qualified beneficiary, it may be required that any assets remaining in an ABLE Account be used to reimburse a state Medicaid agency for the cost of benefits and services provided during the disabled beneficiary’s lifetime. As a result, an ABLE Account should not be considered a wealth-accumulation mechanism. Education Planning Undoubtedly, you want your child to receive the best education possible. To assure this outcome requires that you become your child’s advocate and a participant in his or her education plan. The first step is understanding the education laws that apply to children with disabilities. Here is an overview of 3 related laws. 1. Individuals with Disabilities Education Act (IDEA) The Individuals with Disabilities Education Act requires that children with special needs receive the following: A free appropriate public education from ages 3 through 21. Education provided as close to home as possible, with children who do not have disabilities. Additional services, such as speech therapy, occupational therapy, or a classroom aide, which are designed to meet their unique needs and prepare them for employment and independent living. An assessment to determine their needs. The law guarantees two types of assistance: Individualized Education Plan (IEP). The IEP is a written statement of your child’s abilities and impairments. It is developed by a team that includes you, school district personnel, and educational professionals who have evaluated your child and his or her abilities. The IEP must be reviewed at least annually. Due process. As a parent, you have both rights and responsibilities in relation to your child’s IEP. Due process provides a mechanism to resolve any disagreements regarding a child’s IEP. Under IDEA, for a child to be eligible for special education, he or she must have issues in at least one of the following categories: A serious emotional disturbance A learning differences Intellectual disability Having had a traumatic brain injury Being diagnosed on the spectrum of autism Vision and hearing impairments Physical disabilities Developmental delays (including speech and language difficulties) Other health impairments Before your child approaches age 22, you are advised to have a plan in place to address the issues that are sure to arise as he or she transitions out of the public education system. Depending on the nature of your child’s disability, this plan can include additional educational or vocational services, work, or ongoing rehabilitation and medical services. Planning for these needs requires that you conduct research years before your child reaches age 22. 2. Section 504 Section 504 is a civil rights statute (1973) that requires that schools not discriminate against children with disabilities and provide them with reasonable accommodations. It covers all programs or activities, whether public or private, that receive any federal financial assistance. Reasonable accommodations include untimed tests, sitting in front of the class, modified homework, and the provision of necessary services. Typically, children covered under Section 504 either have less severe disabilities than those covered under IDEA or have disabilities that do not fit within IDEA. Under Section 504, any person who has an impairment that substantially limits a major life activity is considered disabled. Learning and social development are included on the list of major life activities. 3. The Americans with Disabilities Act (ADA) The ADA (1990) requires all schools, other than those operated by religious organizations, to meet the needs of children with these differences or disorders. Under the ADA, children who qualify cannot be denied educational services, programs, or activities, and the law prohibits discrimination against all such students. Many children with special needs are of average or above-average intellect. There are many colleges whose programs might be appropriate for your son or daughter. If he or she can obtain a college degree, it will greatly enhance employability. Further Help and Advice As you know, parenting a child with special needs has its own unique set of joys and challenges. While you are undoubtedly the foremost expert on your child and his or her needs, desires, and future aspirations, it can be a daunting task to undertake special-needs planning on your own. Because of the specialized nature of special-needs planning, it is wise to seek out professionals (attorneys, trust officers, financial advisors, etc.) who have experience in the special-needs planning process. Guidance counselors, special education professionals, and other parents with special needs children can also be great resources to connect with. In addition, there are a variety of organizations that provide assistance to people with disabilities and their families. Here are just a few examples: The National Dissemination Center for Children with Disabilities (NICHCY), an acronym derived from its original name, National Information Center for Handicapped Children and Youth) operated as a national centralized information resource on disabilities and special education for children and youth ages birth through 21 years, sponsored by the U.S. Department of Education. National Association of Parents with Children in Special Education (www.napcse.org ). This organization offers parents of children in special education information on how to be their child’s best advocate. eParent (www.eparent.com ). This website is written for families of children and young adults with disabilities and special needs. Parents Helping Parents (www.php.com ). The mission of this parental resource center is to help children with special needs reach their full potential. A Final Note The planning process shouldn’t stop as your child gets older. As he or she ages, so do we. There are certain issues we all need to address regarding our final arrangements. It is most helpful to your family members if pre-planning and/or prefunding of your own final wishes are set in place when you feel it is appropriate. We also want you to know about a unique feature of the Social Security System that occurs when a parent of a disabled child or adult applies for retirement benefits. As part of the interview, you will be asked if you have a disabled child. The good news is that a “yes” answer provides that child with an additional income stream of Social Security benefits from your retirement income. The bad news is that it also complicates the situation because it eliminates the opportunity for the child to receive SSI and Medicaid benefits directly. Depending on your child’s disability, Medicaid benefits might be particularly important. Medicaid, for example, will pay for home aides for your child, while Medicare will not. Be sure to check…additional Medicaid benefits might be available through your state Social Services Division. Medical, Financial, and Educational Planning For a Child With Special Needs

Next Item Previous Item Go back to White Papers List 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 passion and purpose is so vital to the health and success of your business, so you need to make it a priority. Some things you do to start the fire and keep it burning include: Implement a Mentorship Program Mentoring relationships at your firm or agency are symbiotic; they help ignite passion and purpose in new and seasoned agents or advisors alike. Sometimes finding your sales groove in a new position takes a while, and new recruits can become frustrated with low sales and little money. Experienced pros can offer the support and encouragement to make it through the learning curve, as well as provide some tips and tricks of the trade. The one-on-one relationship also provides an opportunity for a mentor to give pointed feedback to help a new recruit overcome obstacles. Agents and advisors who have years of experience sometimes hit slumps, go stale, or develop bad habits. When they are assigned to help a new agent or advisor, it helps keep them sharp and maintain a sense of purpose. Provide Sales-focused Reading Materials You might find your top producers are book nerds who read every sales book they can get their hands on. This isn’t always the case, especially with young recruits. They haven’t read Who Moved My Cheese? and classics by Robert Cialdini, Zig Ziglar, and others. Provide your financial professionals with copies of your favorite sales-related reads. These types of books are typically written in a way which makes a salesperson greatly identify with the topics. They usually aren’t dry, which can be a drawback with some training materials. Additionally, people learn in different ways and they need to hear things repeated multiple times, in multiple ways, before it sinks in. Good books about sales repeat many of the messages you want your agents and advisors to hear and get them excited about a new and fresh presentation. For those nonreaders of the group, audio books are available to ignite similar excitement and passion. They can listen and learn while in the car, in the gym or whenever they have the time. Utilize Outside Coaching Your financial professional, especially the newest ones, will commonly obtain coaching through you and possibly a mentor. Sometimes new associates and seasoned pros might get defensive. You can give them some of the same messages and help them tackle selfdefeating behavior through outside coaching. If you aren’t internally reaching your agents and advisors, they might be more receptive to an outside coach. It’s not likely Dan Sullivan or Tony Robbins will be available to speak at your agency or firm, but you can bring in a proven outside coach, or have them attend conferences and events for personal growth. You can find speakers and coaches who focus on specific aspects of sales, but you can also find other adjacent topics focusing on personal growth, teambuilding, public speaking, and much more. Coaching, events, and conferences provides additional opportunities to improve their skills, by developing new methods and insights on growing their practices while remaining passionate about their jobs. Gaining New Insights and Passion from Study Groups Study groups have become an integral part of the value proposition of many successful firms. They are an effective retention tool, as well as a valuable resource in helping experienced associates grow, once they have mastered the basics. There are many reasons study groups are effective for retaining experienced associates. These group often provide unique opportunities to collaborate with other highly successful people. Collaboration opportunities encourage joint work between associates with complementary expertise, which could open new doors for all parties involved. As an example, one participant may have access to a key decision maker but needs the expertise of another member to close the deal. Collaborative opportunities also can benefit both parties and help them to grow their business. Sometimes these partnerships encourage associates to develop specialties that can differentiate their business from their competitors. Study groups are also an opportunity for experienced associates to learn from some of the industry’s most talented individuals. No matter how successful they are, study group participants know they can learn even more by spending time with their peers. In fact, many will thrive on being held accountable to apply new approaches or hit production goals, with the bonus of learning new and creative ways to build their business. Set Attainable Goals for Your Agents and Advisors The power of goal setting has been studied and written about ad nauseam, because setting goals works! Whether choosing to live a healthy lifestyle, training for a marathon, or selling insurance and investment products, those who set goals and write them down are more likely to achieve them. When people achieve their goals, they get a sensational feeling of accomplishment, igniting passion and purpose for them to keep reaching. This also means they are making money, and everyone is happy and driven when the commissions are rolling in. Business owners and managers who set unattainable goals for their associates are doing them and their business a disservice. Instead, use goal setting to continuously inspire your entire team to do their best. Give Recognition for a Job Well Done Some leaders subscribe to the idea that they should motivate their salespeople by fear. Fear is a strong motivating factor in many individual’s personal and professional lives, but it certainly doesn’t ignite passion and purpose. Everyone likes a pat on the back now and then when they’ve done well. Take the time to recognize good performance. This can be as simple as a “good job” when someone lands a client they have been chasing for a while, when they help a new recruit, or when they have done an exceptional job cross-selling. You can also do more formal awards such as presenting plaques, offer a gift card, or qualification for special events for a job well done. In any case, when you show your agents and advisors you notice and appreciate their outstanding performance, you will take leaps and bounds towards igniting passion and purpose throughout your entire organization. Implement an Open-Door Policy Many employers claim they have an open-door policy, but it isn’t always the case. You will be meeting with your agents and advisors about goals and performance, and to provide some personal coaching. You should, however, make it clear that your associates can talk to you too. You should especially encourage them to come to you about ways you can support them and any workplace issues they might be experiencing. Be mindful to set boundaries, so you don’t discourage individual problem-solving, which can reduce productivity, and, make sure to listen without distraction. When your team feel supported, they will want to do a good job for you. Creating Passion and Purpose for Different Age Groups Passion and purpose are the common denominators for success at the things we attempt and accomplish. Those with any background can demonstrate a high desire for purpose and an exceptional level of passion. As much as we are alike, we are also different. Our personal characteristics and life experiences form the things which inspire us. Managers and owners of firms who want to ignite passion and purpose in their existing team members and new recruits cannot use a one-size-fits-all approach. Instead, learning about the ‘hot buttons’ of our team members and recruits is just as important as learning about the ‘hot buttons’ of clients. Age is just one factor which can impact the things which ignite passion and purpose in all team members. As your business continues to grow, you will likely have financial professionals from a variety of age groups. An agent’s or advisor’s motivations change during different periods of their life. In the last decade or so, management consultants and other human resource experts have focused on generational differences between the Baby Boomers, Gen Xers, and Millennials. While it isn’t prudent to tie up your entire human resources approach in age and generational differences, and you don’t want to create any biases towards a specific age group, you should consider how core values and preferences about rewards impact your approach to create and maintain passion and purpose in each individual person. Core Values Research about core values among different age groups and generations is plentiful and inconsistent on broad topics. When you dig a little deeper and investigate the relationship between core values and recognition in the workplace, the differences become clearer. In a Ladders poll of more than 55,000 employees, the survey asked respondents about which types of things motivated them in the workplace. Older and younger generations agreed that words of appreciation and quality time were more important than tangible gifts for motivation. Yet, they disagreed about the specifics within each category. Here are some examples from the “Quality Time” category: Millennials remain more interested in team projects than older generations because they like spending time together to achieve final results/ goals. Baby Boomers and older Gen-Xers don’t mind working in teams, but their ideal process is less collaborative. They meet, delegate, and complete tasks individually. Older generations value quality time with their direct supervisor more than with their coworkers, whereas younger generations would rather spend time with their coworkers. You can apply these insights to create a culture of passion and purpose at your agency or firm by mixing up your approach to recognition. For example, you might buy lunch for your entire team after they meet their monthly goals. Another month, you might choose to individually take top producers out for a special lunch to give them some encouragement. Reward Preferences Goal setting is a common way to create passion and purpose for your agents and advisors, but the reward which accompanies those goals needs to vary based on generation. Yes, you need to treat everyone equally, but you can easily change up the rewards, so that you hit all their hot buttons in order to keep their passion and purpose at the forefront. Of course, everyone regardless of age, wants to make a decent living, pay their bills, and support their family, but money alone is not always the way to keep them passionate about helping clients and rewarding them for a job well done. Everyone is different and not everyone fits into broad generalizations made by academics and consulting firms. General reward recognition patterns for each generation may provide some insights. Here are a few of them: Baby Boomers are career-focused, goaloriented, and likely the most competitive out of all your team members. Research shows they value monetary rewards more than anything else. Often described as workaholics, Baby Boomers also appreciate peer recognition for their achievements. Generation X team members have the reputation for being slackers, but doesn’t every generation criticize those that come after them? Research does not support the slacker theory, but it does show that Gen-Xers thrive in achievement-based workplaces. They believe those who do the best work, should get promotions and rewards, not those who are oldest or have the most seniority. Gift cards, supervisor recognition, and flexible schedule options remain some of the most preferred rewards for members of Generation X. Generation Y associates, often referred to as Millennials, have grown up hearing that social security will be gone by the time they hit retirement age. This generation is all about mentoring programs, feedback loops, and a positive culture at work, but stock options might be the best monetary reward you can offer Gen- Yers. Like the generation before them, Millennials also respond well to supervisor recognition and flexible work schedules as rewards. Generation Z associates unlike generations before them, prefer social rewards more than monetary rewards for a job well done. The youngest generation is a group of techsavvy multi-taskers, who love passion projects, meaningful employment, and taking on additional responsibility. It’s fair to say that some of these characteristics might be more attributable to age than generation – eager, young, idealistic college grads out to change the world. Generation Z expects flexible work schedules, so it’s unlikely you have any members of Generation Z unless you have already offered them flexibility. Reward Generation Z through mentorship, constructive feedback, and including them on any special client projects which you might be working on. Contact Hoopis Performance Network to Create Passion and Purpose for Different Groups When you take the time to know your team members individually, learn about their values, and understand their reward preferences, you can go a long way in creating passion and purpose for each of them, which benefits the entire workplace culture at your firm or agency. HPN provides knowledge and skills training for management, producers, and staff in the financial services industry. Whether you own or manage an insurance agency or an investment firm, we want to give you the tools you need to successfully grow your business in a competitive industry. Contact us today for your training and education needs and to learn more about how to create passion and purpose for individual team members as a part of different groups, with varying life experiences and backgrounds. Igniting Passion into Your Firms Culture

Owner/Founder - Playmaker Coaching & Consulting LLC Jennifer Hensley CLU, ChFC Owner/Founder - Playmaker Coaching & Consulting LLC Jennifer leverages 20+ years of marketing and sales experience both in the agency system and Northwestern Mutual's corporate headquarters, as a master business coach, and playing sports to address complex problems with a big-picture understanding. She helps business owners act quickly on opportunities with strategic and creative thinking that delivers results. Jennifer zones in on the most impactful plays to advance the ball and build systems to positively impact the bottom line. Jennifer’s best teammates are her husband, Keith and daughter, Samantha who always push her to play her own game and stay on offense. She believes it’s important to live with intention. This year her word for the year is GO. It’s time to go be great! Previous Speaker Go back to Speaker Network Next Speaker

Successful Speaker, Consultant, and Entrepreneur Judy Hoberman Successful Speaker, Consultant, and Entrepreneur Judy Hoberman is President of Walking on the Glass Floor and Selling In A Skirt, companies that are both focused on empowering professional women. She is an International Speaker, Trainer, Executive Coach, Author, Radio Show host and Mentor. Her 30 years in business has given her both the knowledge and sense of humor about how men and women lead, sell, manage and recruit differently that will enlighten you in learning how both genders can support each other’s successes in a more productive way. Her experience includes over 2 decades in life and health insurance beginning as an agent with no experience, to leading 3 agencies across 3 states with over 100 agents. She still holds her license and co-facilitates Medicare educational seminars. Judy also works with companies supporting their diversity and women’s initiatives in the areas of leadership, recruiting, training, coaching, mentoring and retention. Her audiences, from 10 to 10,000 are engaged with details wrapped in memorable stories that are easily implemented that same day. In 2016 she was a TEDx speaker talking about pre-judging people, something we all do without even thinking. She is the author of 4 books including, “Selling In A Skirt” and her latest book “Walking on the Glass Floor”, an immediate best-seller. She offers a complete training program that concentrates on women in leadership, the men that champion them, with a concentration on Redefining Culture. As her book was coming off the printing press, Judy completed a certification from Cornell University’s College of Business in Women in Leadership and a second for Women in Entrepreneurship, adding that to her previous degree from Queens College, New York. She was recently named as a Woman to Watch for International Women’s Day 2019 from Thrive Global. She was awarded the Character and Integrity Award for her distinct and significant contribution to sales producer’s success. She named as a finalist in the Women of Visionary Influence Mentor of the Year and named of the Top 10 Women of Influence in Dallas recognizing her for her hard-work, involvement in the community and entrepreneurship. She is Executive Director of Walking on the Glass Floor Foundation. She is the host of a weekly radio show on The Women 4 Women Network/iHeart Radio called Selling In A Skirt and has been “The Gender Expert” on Fox News Radio. She has appeared on CNN Headlines, ABC, CBS, CW33 and Good Morning Texas contributes articles to multiple publications and journals and appeared on the cover of Exceptional People Magazine. She has spoken for Monster.com, UPS, Southwest Airlines, numerous Insurance/Financial companies and sales teams internationally. Judy’s mission…to help One Woman A Day by following an important philosophy-“Women want to be treated equally, not identically” ™ Previous Speaker Go back to Speaker Network Next Speaker

Next Item Previous Item Go back to White Papers List 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 bachelor’s degree earned a median income in 2015 of $61,400, almost 69 percent more than the $36,800 earned by a full-time worker with only a high school diploma. Those with master’s degrees earned a median income of $75,200, and those with a professional degree earned a median income of $110,900. Don’t Let College Expenses Derail Your Retirement Many parents find themselves having to choose between funding their children’s college education and saving for their own comfortable retirement. It’s not wise to derail your own retirement to fund a college education. There are no federally-guaranteed loans for retirement. Your children, on the other hand, have access to scholarships, grants and federally guaranteed loans to help pay for their college education. Your children might graduate from college with more debt than you or more than they would like, but that may be one of the trade-offs that has to be made as you balance college and retirement savings. More parents are starting to realize this. According to Fidelity Investments’ “2018 College Savings Indicator” report, just 7 in 10 parents are saving money for college, down from 72 percent in 2016. Only 29 percent of parents now say they plan to fully pay for their kids to go to college, down from 43 percent in 2016. On average, parents now expect to pay just 62 percent of their kids’ total college costs, down from 70 percent two years ago. As you balance saving for your kids’ college education with saving for your own retirement savings, put the two financial needs in perspective. A four-year college education can cost anywhere from $75,000 to $200,000. To maintain your current standard of living in retirement, you might need at least five times those amounts. Take full advantage of any tax-favored retirement plans available to you, such as 401(k) plans, IRAs and taxsheltered annuities, before funding college savings accounts. In addition to their tax advantages, these plans often offer matching employer contributions. As an added advantage, assets you own in retirement plans, together with life insurance and annuities, will not affect your child’s ability to qualify for federal student aid. Any money you withdraw from tax-favored retirement plans to fund a child’s college education may have income tax implications and won’t be there when you need it for retirement. You might be able to borrow from a 401(k) plan for college purposes, however, that loan will have to be repaid. It’s a natural inclination to put your children’s needs first. But do you want to pay for their college education only to risk becoming dependent on them in your retirement years? College Savings Plan Options Let’s look at some strategies that can help you save for college expenses. 1. Qualified Tuition Programs (Section 529 Plans) Section 529 plans allow you to either prepay your child’s college tuition or contribute to an account established to pay the qualified higher-education expenses. Although contributions to the account are not tax-deductible for federal income tax purposes, investment growth is tax-deferred. Also, distributions used to pay for qualified higher-education expenses are exempt from federal income tax. Another nice feature of Section 529 plans is that they are set up by adults who name a child as the beneficiary. If the child completes college and there are funds remaining in the Section 529 plan, a new beneficiary, such as a younger brother or sister, can be named. Remaining amounts can be distributed to the account owner or another family member. Funds withdrawn for non-educational use (a non-qualified distribution), however, are subject to ordinary income tax on the earnings portion, which is also subject to a 10 percent penalty tax. State income tax might also be assessed. Section 29 plans are authorized by federal law, but they are operated by the states. The rules, requirements, fees and expenses of these plans vary from state to state, as do state and local taxation of contributions and distributions. For example, some states allow Section 529 plan contributions to be deducted for state income tax purposes. 2. Education Savings Accounts Taxpayers within specified adjusted gross income levels may contribute up to $2,000 per year per beneficiary to an Education Savings Account. Contributions are not tax-deductible, but the earnings grow tax-deferred and are distributed tax-free, provided they are used to pay the beneficiary’s qualified education expenses. 3. U.S. Savings Bonds Subject to certain limits, interest on series EE and I savings bonds may be excluded from income if you use them to pay qualified education expenses in the year you redeem the bonds. 4. Savings/Investment Accounts Depending on your risk tolerance, your income tax bracket and the time frame in which you will need the funds, you can place education savings in a savings account, a certificate of deposit, U.S. Treasury securities or a money market account. Or you can invest the funds in some combination of stocks and bonds, either directly or through mutual funds. 5. Grandparents Many grandparents want to help finance their grandchildren’s college education. Grandparents can fund Section 529 plans, either as the account owner or, if the plan allows, by making contributions directly to a Section 529 plan already established by the parents. Grandparents can also fund Education Savings Accounts, purchase U.S. savings bonds for qualified higher-education expenses, or simply set up a college savings account for the future benefit of their grandchildren. Another option might be for grandparents to consider making annual gifts to college-age grandchildren. Understand the Tax Implications of Your Options Before you decide how to fund your children’s college education, make sure you understand the tax implications of each option. You don’t want any surprises. We recommend meeting with a competent, trusted financial advisor before making any decisions. If you maintain separate education accounts for each of your children, you must decide if those accounts will be held in the name of the child, a parent or another adult. In making this decision, consider the impact on your family’s income taxes and who you want to have control of the assets. The good news is that you could reap tax savings if the account is held in the child’s name and income earned by the account is taxed to the child, who will probably be in a lower tax bracket than the parents. There is a catch, however. If the child is under age 19 (under age 24 if a dependent full-time student), the socalled “kiddie tax” applies. In 2019, unearned income is taxed at 0 percent up to $2,600, 24 percent from $2,600 to $9,300, 35 percent from $9,300 to $12,750, and 37 percent on unearned income above $12,750. Any additional unearned income over $12,750 is taxed at the parents’ top rate. Once the child reaches age 19 (age 24 if a dependent full-time student), all unearned income is taxed at the child’s rate, which currently could be as low as 10 percent. How to Maintain Control of the Funds for Your Child If you are nervous about your child having control of the funds, there are alternatives that can produce tax savings while maintaining some control. 1. Minor’s Trust You can establish either a Section 2503(b) or Section 2503(c) trust to maintain control of principal and income while your child is a minor. Both types of trusts qualify for the annual gift tax exclusion per donor ($15,000 in 2019). Trust income is taxable to the trust or, if distributed, to the minor. A minor’s trust can, however, be expensive and time-consuming to establish. Unless you anticipate substantial gifts over a number of years, the next alternative might be more attractive. 2. Custodial Account Depending on the state you live in, you can establish a custodial account under either the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). With a UGMA or UTMA account, the income is taxed to the child as described above in the section titled “Understand the Tax Implications of Your Options” Only the custodian has control of the funds until the child reaches age 18 or 21 (depending on the state). The custodian can be a parent or any other adult. Gifts made to a custodial account qualify for the annual gift tax exclusion per donor ($15,000 in 2019). It’s also important to consider the potential impact that a college savings plan might have on your child’s ability to qualify for student loans and grants. The way the financial aid formula works, children are expected to contribute a much higher percentage of their assets toward paying college costs than their parents are. So if receiving student financial aid is an objective, you might want to avoid saving money in your child’s name. First Things First – Apply for Scholarships Rather than planning to save for this whole expense, you can choose to prepare for only a portion of the projected costs. There are a number of programs, such as scholarships and grants, that can help offset these expenses. The difference between a scholarship and a grant is generally not that big. All scholarships are grants, but not all grants are scholarships. The key feature to both is that they do not have to be paid back, which makes them very attractive and generates high competition to receive them. Scholarships are solely focused on education, whereas grants can also be, but are not restricted to it. So, scholarships are where most college-bound students should, and do, look first. Where to find scholarships? Many are sponsored through your local civic or religious affiliations and, of course, through both the state and federal government. Students also can receive awards by winning contests or participating in community service. Some are based on merit for extraordinary academic performance, and athletic scholarships are awarded to those who excel in all types of sports. Some Fun and Surprising Scholarship Opportunities Now, the good news is that you do not have to be a super athlete, or even a Sheldon Cooper, to qualify for a scholarship. Scholarships are available to an unbelievably large field, such as those who participate in duck calling, are fluent in Klingon, possess a passion for writing greeting cards or are duct-tape couture designers. Feeling a little better now? Well, here are a few more scholarship categories: water skiers, gardeners, bass fishermen, bowlers, taxidermists, pool players, marble shooters and even nudists. The blind, asthma patients and others also have outlets for scholarships. Without getting too personal, do you have natural red hair? If so, a redhead scholarship such as the one provided by Scholarship Red could easily win you some free money for college. The bottom line is, don’t limit your thinking of scholarships only to the next Heisman Trophy Winner, or Bill Nye, the science guy type; the reality of the matter is that scholarships can be given out to people with many different types of characteristics, heritages or ethnic backgrounds, as well as those with a connection to the military and even those of a specific gender or height. Speaking of height, Tall Clubs International offers tall students a $1,000 scholarship. To qualify, girls must be at least 5-foot-10, and guys must measure at least 6-foot-2. OK, just one more before we move on. Jif, the peanut butter company, holds the “Jif Most Creative Sandwich Contest,” which can be a fun way to award money to students preparing to attend college. The award includes a scholarship worth $25,000, but just as important, a Jif Peanut Butter Basket worth $50! Not all scholarships will provide you a free ride in college, covering all of your tuition and expenses. Some will give you $200, $500, $1,000 or whatever amount, but every bit helps, right? And you never know when and where a big check might come from. Where to Find Scholarships to Apply For Now, where to begin your search? Start with website searches, such as FastWeb or FinancialAidFinder. Be sure to look at College Board’s Scholarship Search, as well as Scholarships.com, Unigo.com (formerly ScholarshipExperts.com) and Peterson’s Award Database. These are only the tip of the list. There are many lists, and they can be fun and fascinating to review. Other Ways to Reduce College Costs Unless your child has his or her heart set on earning a degree from a prestigious out-of-state university, there are ways to reduce college costs. Here are a few strategies to consider. 1. Consider Public vs. Private Schools Your child does not have to attend an Ivy League college to receive an excellent education. Check out the public colleges in your state, which typically charge considerably less tuition than private colleges. In addition, there are well-regarded private colleges that do not charge “Ivy League tuition.” 2. Look into Local Community Colleges Community colleges are typically less expensive than four-year universities, and they offer students the financial advantage of being able to live at or near home. Students often fulfill basic course requirements at a community college and then, after the second year, transfer those credits to the four-year college of their choice. Before you do this, make sure the community college credits will be accepted at the university your child plans to attend. 3. Have Your Student Live at Home Encourage your child to attend a nearby college and live at home, at least for a year or two. Eliminating room-and-board expenses can substantially reduce college costs. 4. Look into Tuition-Reduction/Reimbursement Plans Find out what types of tuition-reduction plans are offered at the colleges you are considering. Some colleges offer reduced tuition to the children of alumni or to children of college employees. Find out if your employer has any educational benefits available to the children of employees. 5. Accelerate Graduation Some students take as many course credits as they can each semester to earn a degree in a shorter period of time. This is easier to do if the student is not working while taking classes. Also check out Advanced Placement programs. 6. Have Your Child Apply for Work–Study Jobs Work–study programs provide part-time jobs for undergraduate and graduate students who have financial need. In addition, many colleges offer employment opportunities in housing units and dorms and in on campus offices. 7. Have Your Child Join the ROTC If your child is interested in pursuing a military career after college, consider having him or her apply to one of the service academies or enrolling in ROTC (Reserve Officers’ Training Corps). This college program is offered at more than 1,700 colleges and universities across the United States and prepares young adults to become officers in the U.S. military. In exchange for a paid college education and a guaranteed post-college career, participants, called “cadets,” commit to serve in any branch of the military after graduation. An Overview of Financial Aid As you review your options for funding your child’s college education, contact the financial aid offices at the colleges you’re considering. They are an excellent resource for reviewing the types of financial aid available at their respective colleges. Financial aid can be in the form of grants and scholarships, which do not have to be repaid, in the form of loans, which do have to be repaid, or in the form of a work–study program, which requires the student to work for a specified number of hours each week in return for money to pay college expenses. Financial aid is either merit-based or need-based. The kinds and amounts of available financial aid that are available often vary from year to year, making it difficult to plan in advance. The federal student aid website offers a wealth of information on this topic. To apply for financial aid, you need to fill out the Free Application for Federal Student Aid, or FAFSA®. The FAFSA uses a formula known as the “federal methodology” to determine your child’s financial aid eligibility. Be sure to complete this form as early as possible in the year in which your child will be attending college. An Overview of Grants The beauty of student grants is that they do not have to be repaid. To be eligible for federal student aid grants, you must complete the FAFSA. The following are the primary student aid grant programs currently available from the federal government: 1. Federal Pell Grant Pell Grants are considered a foundation of federal financial aid, and aid from other federal and nonfederal sources might be added to these grants. 2. Federal Supplemental Opportunity Grant (FSEOG) FSEOGs are for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions will be considered first for a FSEOG. A student can receive between $100 and $4,000 per year. 3. TEACH Grant Program The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from lowincome families. 4. Iraq and Afghanistan Service Grant These grants provide up to $5,717.11 per year for the 2018–19 award year to students whose parent or guardian was a member of the U.S. armed forces and died as a result of performing military service in Iraq or Afghanistan after the events of 9/11. Students who are awarded these grants must be ineligible for a Pell Grant due only to having less financial need than required to receive a Pell Grant and must have been under age 24 or enrolled at least part-time in an institution of higher education at the time of the parent’s or guardian’s death. Doing some homework at least one year before your child is ready to attend college can reduce your personal outlay for his or her education. Combine as many of these strategies you can to reduce the total cost. Contact HPN to Learn More About College Planning Hoopis Performance Network provides insights, knowledge and skill training for management, producers, and staff in the financial services industry. We want to provide you with the tools you need to build and support your team and educate your clients. Contact us today for your training and education needs and to learn more about how you can help clients prepare for the high cost of college today. Tips for College Planning

Next Item Previous Item Go back to White Papers List 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 you believe in and how you treat people. Your culture makes a difference in how eager your team members are to go to work every day and how good they feel while they’re there. Experts say culture is important in minimizing employee turnover, increasing retention, improving employee engagement and attracting talent. Once your firm builds a reputation for being a great place to work, it helps you attract high-quality candidates because your reputation starts to precede you in the marketplace. Ultimately, that will make you or break you. Here are some specific ideas for building a dynamic company culture that will help you attract and retain the high-quality associates who are necessary to build a high-performance firm or company. Build your culture around your company’s or firm’s values. Many of today’s top candidates want to believe they are working for a cause; this is particularly the case of millennials. They want to believe they are building better communities by teaching sound financial principles. Many highperformance firms have core values that promote what they value most. Design these values to attract the kind of people you want in your organization. Filter out candidates who don’t fit your culture. Occasionally, you may have candidates who say your core values are not for them. Although we read a lot about the importance of inclusion, and we never want to do things to make people feel uncomfortable, sometimes this is a sign that a person would be happier somewhere else. Part of being a high performer is to know who you are and to be authentic. Even the best firms are not a fit for everyone, but they want to attract like-minded individuals. Before posting your values, as well as your philosophy or mission, we suggest you get them approved by your home office. Support causes that are important to the people in your company or firm. Some firms take nominations from their associates and staff and get behind two or three worthwhile causes that galvanize the team. Updating the list on an annual basis gives you an opportunity to support different causes and involve more people who have various passions. Some great examples of how firms can support those causes are to have teams that participate in walks, bike rides, bowling tournaments and golfing for charity. You can enhance the camaraderie by having the participants wear team T-shirts or hats featuring your logo. This shows that your firm or company supports the cause. You can increase the visibility and fun for participants by posting photos from the event on your social media sites and website and also in your newsletter. Some firms allocate a day annually for team members to represent the firm by volunteering at a company-approved charitable event, or an event hosted by their favorite charity, without being required to take vacation time. Have “casual day” one day per month. Allow team members to wear casual clothing, even jeans, to work if they donate to the firm-approved charity. Although some people think this seems unprofessional and worry what visitors might think, you can post a sign in the reception area that says, “Please pardon our casual attire today. Some of our staff members have chosen to donate in support of (list the charity) to have this privilege.” An article in the Harvard Business Review stated that it is important to create a fun environment, but great corporate culture is more about a common sense of purpose and belief that “we are in this together.” Have fun at work. According to Fast Company, prioritizing fun in the workplace is essential to a company’s success. It boosts morale; lifts spirits; and creates a friendlier, happier and healthier environment for everyone. And some studies show that high-performance teams have fun while they are at work. Having fun often starts with the leaders not taking themselves too seriously. Everyone loves it when the boss has a good sense of humor and can take a fun jab or be self-deprecating. When the company celebrates, the leaders should not be working in their offices; that sends the message that their tasks are more important to them than enjoying the company of their team members. The leaders should be first to join in the karaoke or even to sing at a holiday party. They should wear the silly hats and participate in the activities. If the group is dancing, everyone will be more likely to join in when the leaders lead by example. If the leaders act as if they are above the rest, they send a message that their real goal is to check ‘have a fun event’ off their task list. Take opportunities to celebrate as often as possible. This is an excellent way to build morale. Some prominent examples are to recognize major holidays and birthdays. Larger firms may host monthly parties for everyone celebrating a birthday or company anniversary in a month. Still other companies may have an employee of the month who gets special recognition at a staff meeting, plus a gift card or a meal with the boss as thanks. Yet other firms will celebrate any month in which they hit or exceed a sales goal or top their performance from the same month the previous year. Say “thank you” in person, and often. As the leader, you can never say “thank you” enough, and people never tire of being acknowledged or shown they are valued and appreciated. Associates and staff alike live for encouragement and to be recognized when they do a great job. When they do well, shout it from the mountaintop! Make sure everyone knows when a team member gets a compliment. Here are some ways to share the news of your team members’ successes: 1) If you receive an email acknowledging that a team associate did particularly well, send a copy to everyone in the company when you reply to the sender. 2) Have a board where people post notes or emails commending the team. 3) Read notes of praise in a staff meeting or firm meetings. This builds up team members in front of their peers and lets everyone know this type of great performance is a great way to get noticed and stand out. On the other hand, if you get a call or email about below-average performance, always handle them privately, so the team member will not be embarrassed publicly. One embarrassing incident that is publicized can cancel out many incidences of encouragement—it can even cause someone to quit. Take time to show people you care. Stopping by someone’s desk to see how they are doing is a good investment of your day. If you know someone has a sick family member or loved one, ask how they are doing. As the leader, “You reap what you sow.” Leaders who say thanks and take the time to encourage people often are surprised to find out how much it meant to others, and they tend to receive notes or calls telling them how they impacted people’s lives and made a difference. There is a time in most people’s lives when this form of affirmation and encouragement may mean as much as, or even more than, the money they make. As we like to say, leadership is about influence, and taking the time to influence others positively can pay eternal dividends. Always be there in your team members’ times of need. Some firms are full of people who take the time to check on them when they are sick. Caring leaders take the time to attend weddings and funerals that are important to their key team members. As busy as people are today, few gestures will show your associates you care more about them than being there with them at critical times in their lives. While making the time may seem burdensome at times, the savings on lower turnover, higher retention and deeper relationships will be a great return on your time invested. Communicate the company’s or firm’s vision to all members of your team. Some high-performance teams have an annual staff meeting off-site that features team-building activities and fun. This is especially important when a firm has multiple locations because it gives people who are in different offices a chance to get to know each other. It lets them all feel part of something larger than just their location. It is also wise to have an annual update to the strategic plan, business plan or marketing plan the leader shares with the team annually. It is important to write the vision and make it plain. Then the team can run with it after they read it. Building a company culture takes time, effort and consistency. But you can create a great culture in small ways. Do what you can each day, week and month to have happier, healthier, more engaged and loyal team members, and you will never regret any of the effort spent. When your team members are motivated and happy, your clients and potential recruits will notice, which will lead to success for the overall organization. Consider Hoopis Performance Network for Training To help build your culture, consider using our virtual training videos in your company, agency or firm. HPN brings you winning training for sales associates, and training for sales leaders. They can access training and information on their smartphones and tablets when they have spare time, learn at their own pace and customize their curriculum based on what interests them the most. How to Build a Great Culture

President at Taylor Insurance & Financial Services Eszylfie Taylor President at Taylor Insurance & Financial Services Eszylfie Taylor is the president and founder of Taylor Insurance and Financial Services located in the financial district of Pasadena, California, and serves as financial advisor to individuals, business owners, and high net worth families. Over the past decade, Mr. Taylor has been widely-recognized as an accomplished producer in the industry, receiving the National Association of Insurance and Financial Advisors (NAIFA), “Agent of the Year award: Los Angeles” in 2010 – 2012. Additionally, Mr. Taylor is a 13-time “Million Dollar Roundtable” qualifier, the last four of which he has been a “Top of the Table” producer, ranking him in the top 1% of all producers, worldwide. Most recently, he was selected to win NAIFA’s Top 4 Under 40 Advisors award for 2015. Mr. Taylor has achieved consistent high levels of production due to a combination of education, motivation, a positive outlook and deep desire to help others improve their lives. Over the course of his career, Mr. Taylor has obtained the Series 6, 63, 65, and 7 licenses, in addition to a Life and Health Insurance license. Mr. Taylor began his career at age 22 with New York Life Insurance Company, where he soon ascended to the Chairman’s Council reaching the ranking of #1 Broker in Los Angeles (2006 – 2013), Chairman’s Cabinet, which defines the top 50 agents out of the Country’s 13,000 plus (2010 – 2013), and #1 Agent for the Company’s African-American market (2006 – 2013). In 2007, he began building his own firm, Taylor Insurance and Financial Services. In 2013, he left New York Life to grow his independent insurance and financial services firm. Eszylfie was born and raised in Pasadena, California. As a top flight high school athlete playing in four varsity sports, he completed a notable collegiate basketball career at Concordia University in Portland, Oregon, graduating magna cum laude with a Bachelor’s Degree in Business Management. Mr. Taylor currently sits on the board of three non-profit organizations dedicated to business empowerment, children’s’ health, and social services. In his free time, he mentors upcoming youth as the Founder of the non-profit Futures Stars Camp (www.futurestarscamp.org ) for kids, which is dedicated to providing basketball training and life coaching skills. In addition to his passion for business, Eszylfie is engaged in raising three daughters with his wife in Pasadena where he still resides. Previous Speaker Go back to Speaker Network Next Speaker