Reading time… 8 minutes
Another record high in the Dow and another slew of stories on a market ready to burst. It’s about as bi-polar as it can get. Whatever happens, we need to be preaching to clients the need to manage risk and we have many ways to help them do just that.
The markets are speaking to us. We just wish they would speak a little more clearly.
The best line we’ve heard this week is from Michael Sincere at MarketWatch who had a creative way to describe a bear market that begins with a whimper. He called it “death by a thousand pullbacks” (link to story below). Instead of new highs, he says, the market will make a series of short-lived pullbacks as it begins signaling its move south.
That hasn’t happened yet. Instead, we hit records highs yet again this week. So, what gives?
We are not in the business of predicting pullbacks, dips or corrections. It’s our business to make clients aware that when a debris field appears there is likely a nasty storm to follow and to make sure they clearly understand the options we have to help them manage this risk. We believe it’s prudent for you to let clients know there is considerable chatter about a market correction and there are low-risk options to help spread risk and provide tax-free options for long-term income.
We have many options to help clients spread their risk: Fixed Indexed Annuities (FIA), Multi-Year Guaranteed Annuities (MYGA) and Single Premium Immediate Annuities (SPIA).
If you’d like to be better prepared to have that discussion with clients please join us Tuesday May 20 for our “Moving Money, Protecting Clients” training session. Or, give Drew a call and let him walk you through his scenario of what’s ahead and how to help clients prepare.
Building a personal brand: making enemies
The goal of building a personal brand is to create loyalty with clients. Done correctly, consistently and with the right attitude, loyal clients are the best lead program you never had to pay for.
Part 1 and Part 2 of the series focused on who you are and what you do. Sounds pretty simple and logical, but they’re hard to define. So, most sales folks don’t. They just pedal harder on the things they know and wonder why business isn’t getting better. It’s a vicious circle.
A recent blog post in Help Scout took a unique approach that might help. The premise centers on making enemies. In reality, it’s about finding a place that allows you to differentiate yourself from your competitors, or whoever the enemy might be (we’ll talk more about differentiation in Part 4 of the series).
According to the author, making an enemy is about creating divisions in clients’ minds. Rather than simply telling them why your way is better—why the differences you bring are better—you begin to re-position the competition. The writer used Apple’s Super Bowl ad in 1984 that began a 30-year journey for Apple to create a division between itself and Microsoft. If there’s a better example of how making an enemy can work we would love to hear it.
The making enemies concept is an interesting way to get clients engaged and supportive of your brand… making them believe you have shared values with them. Are you trustworthy? Honest? Creative? Empathetic?
Check out the blog and stay tuned for Part 3 of the series: what are you target clients’ special needs?
Product of the Week: GTL Advantage Plus
Supplementing health care benefits has never been more important with the full impact of Obamacare and other pending changes to health care law still unknown. Guaranteed Trust Life (GTL) has an exciting product that can supplement clients’ primary health care. The list of benefits is long and strong:
- Lump sum cancer benefits
- Critical conditions
- Enhanced Assisted Living and Long Term Care (LTC) at no cost
- Benefits paid direct to client
- Offsets non-medical related costs
- Options for future diagnosis
- Skilled Nursing rider
- Accidental Death and Dismemberment rider
- Durable Medical Equipment rider
- Hospital confinement
Call if you want more information.