This best-practices discussion with a panel of three subject matter experts focuses on leveraging the policy review process to enable advisors to do a better job helping clients protect their assets. We’ve always said that if an advisor is helping clients grow their assets but not protect their assets, they are doing only half their job. Servicing the protection need is a relationship development opportunity and helps significantly in the asset gathering process.
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Newest Trends in Life Settlements
What’s Driving Life Settlement Growth?
- 85% of term policies and 88% of universal life policies will expire, lapse, or be surrendered before a death benefit is paid – a significant loss for the policyholders.
- $200 billion worth of life insurance will be surrendered or lapsed annually through 2027.
- 55% of client’s don’t know they can sell their life insurance.
- The life settlement industry is growing on average 34% per year.
The demand for life settlements has seen a resurgence as seniors realize the benefits of reevaluating their life insurance strategy. Join us and a panel of subject matter experts as we examine current market trends in life settlements and how you can leverage this important financial tool.
Topics we will explore include:
- How the marketplace is evolving, including new capital sources driving flexibility and higher payouts for your clients.
- How firms are creating value for clients within the financial planning process while driving new sources of revenue.
- Why more policyowners are open to selling their existing life insurance
- How to identify life settlement opportunities in your client base and business growth plans.
Hosts
Scott Stathis and Bob Mittel
Guests
- Alan Buerger, Neal Jacobs, Peter Hershon, and Patrick Cahill of Coventry
- Hugh Cameron of JBC Companies, and…
- David Henry of Financial Independence Group
Sponsoring Partner:
Coventry
Music Credits:
Band: A Rusty Something (Nick Simpson)
Song: Someone New
Case Study: Bank Increases Revenues with Advisor Financial Planning Adoption
This episode is a case study on how to increase financial planning adoption and the resulting program productivity effects.
We learn about effective training strategies, success measurement, and business impact.
Hosts:
Discussion Guests (alphabetical order):
- Ken Flaherty – SVP Chief Sales Strategy Officer at Frost Brokerage
- Angela Holliday – President at Frost Brokerage
- Marco Rodriguez – Wealth Advisor at Frost Brokerage
- Jennifer Shields – National Training Director at Midwood Financial
Sponsoring Partner:
Midwood Financial
Music Credits:
Band: A Rusty Something (Nick Simpson)
Song: Someone New
Executing Effective Broker-Dealer Due Diligence
In this episode we talk with industry executives who have recently conducted broker dealer due diligence projects and tackled conversions. We discuss lessons learned and extract best practices.
Servicing the Protection Need
In this episode called “Servicing the Protection Need”, we discuss the critical importance of not only helping clients grow their assets, but also helping them protect their assets.
We talk with five subject matter experts on topics ranging from leveraging the middle-market dominance of banks for life sales, removing life sales obstacles, the single best way to jump-start life sales, and effective long term care discovery.
This episode is made possible by support from Westland Financial, and we would like to thank them for their partnership in producing this podcast.
Hosts:
Discussion Guests:
- Chuck Chillingworth – Westland Financial
- Darcy Kleman – Westland Financial
- Frank Rehhaut – Kinecta Credit Union
- David Simula – SAFE Credit Union
- Teo Trandafir – UW Credit Union
Sponsoring Partner:
Music Credits:
Band: A Rusty Something (Nick Simpson)
Song: Someone New
Only the Adaptable Survive
Change has been non-stop in recent years and adaptability is now the difference between success and failure in our industry. Today’s episode is a discussion with six executives with varying perspectives on how adaptability is critical to future success.
The discussion covers topics such as the need for strategic change, adapting to reduced branch traffic, recruiting for adaptability, maximizing internal relationships, engendering client trust, and the value of teams.
This episode is made possible by support from Cetera, and we would like to thank them for their partnership in producing this podcast.
Hosts:
Scott Stathis and Bob Mittel
Discussion Guests:
- LeAnn Rummel from Cetera
- Russ Harton from Cetera
- Jim Nonnengard from Regions
- Rich Koll from Investors Bank
- Steve Nordbeck from Achieva Credit Union
- Dan Cvercko from Farmers National Bank
Sponsoring Partner:
Music Credits:
Band: A Rusty Something (Nick Simpson)
Song: Someone New
Fixing Life Insurance Sales
In this episode, titled “Fixing Life Insurance Sales” we focus on achieving success in life insurance sales. The discussion topics include the recent and significant changes in life insurance distribution and purchasing trends, eliminating sales obstacles, client and distribution segmentation strategies, “Term Laddering” approaches, and effective mining of valuable life application data.
Hosts:
Scott Stathis and Bob Mittel
Discussion Guests:
The episode is a discussion with the following six executives who have each approached this challenge from different perspectives:
- Jake Tamarkin, Founder & CEO of Everyday Life
- John Richter, Chief Distribution Officer at Everyday Life
- James T. Scanlon, Leader of Insurance Research, LIMRA
- James Campone, Executive Director, Program Development, CUSO Financial/Sorrento Pacific
- Dan Overbey, Divisional President of IFP Institutional Services
- Ye Su, VP & Investment Program Manager of Partners Federal Credit Union (Disney)
Sponsoring Partner:
Music Credits:
Band: A Rusty Something (Nick Simpson)
Song: Someone New
Discussion with Our Channel’s Top Program Managers
This episode is a discussion with some of our channel’s most successful program managers based on Bank Investment Consultant’s 2020 Top Program Manager rankings.
When assessing these rankings and looking only at the banks that use third-party broker dealers, five out of the top ten program managers from these banks were from Raymond James programs.
Separately, and as impressively, we noticed that if you filter for just broker dealers that serve the bank channel, Raymond James is #1 in the both the JD Power 2020 advisor satisfaction survey, and their 2020 client satisfaction survey.
Given these impressive accomplishments we are appreciative that the Raymond James team agree to work with us to produce a podcast featuring insights from five of their top program managers from the bank channel. This discussion dives into the elements that contribute to their success.
This episode features the following guests:
- Tim Killgoar, National Director, Financial Institutions Division at Raymond James
- Steve Kruchten, Division Director – Central Division at Raymond James
- Gary Collier, Private Wealth Manager at Pinnacle Asset Management
- Mike George, President-Brokerage at Fulton Financial Advisors
- Paul Haines, Managing Director, SVP at Middleburg Financial, Atlantic Union Bank
- Scott Jenner, President/CEO First Tech CU’s Addison Avenue Investment Services
- Michael Totorri, Program Mgr, First Hawaiian Bank
Sponsoring Partner:
Raymond James Financial Institutions Division
Music Credits:
Band: A Rusty Something (Nick Simpson)
Lessons Learned from Working the COVID Crisis Remotely
In this episode we talk with executives and advisors from the bank and credit union channel about the “aha moments” they’ve experienced while working remotely through the COVID crisis that will forever change, for the better, the way they’ll work going forward.
We hear them discuss the efficiencies that were always available but not realized until now. The technologies they thought were to arduous to learn that they are now embracing on a daily basis. Relationship development opportunities that never existed before.
We also hear about an advisor who, two years ago, decided to move from the U.S. to New Zealand but has been able to keep his job, successfully serve his U.S. clients from the other side of the world, and now serves as a model for how to work effectively on a remote basis with clients during the COVID epidemic.
In addition we’ll touch on how financial planning and advisory relationship have made a significant difference as advisors guide their clients through the COVID-related market volatility.
We would like to express our sincere appreciation to our friends at CUSO Financial – Sorrento Pacific for their support in making this episode possible.
Host:
Scott Stathis of Stathis Partners
Co-Hosts:
Kevin Mummau & James Campone of CUSO Financial/Sorrento Pacific
Discussion Guests:
Cynthia Pollard, (Bellco Credit Union) Gateway Services Group
Stephanie Gudka, CFP, Bellco Credit Union
John Marx, Elevations Credit Union
Scott Herrmann, CFP, Elevations Credit Union
Sheli Emerick, Elevations Credit Union
Jim Fujinaga, Hancock Whitney Investment Services, Inc.
Ross Kantor, Hancock Whitney Investment Services, Inc.
Sponsoring Partner:
CUSO Financial/Sorrento Pacific
Music Credits:
Band: A Rusty Something (Nick Simpson)
Song: Someone New