Comments for riskinfo

Comment on Advisers Changing Licensees by rogerthat

rogerthat — Tue, 15 May 2012 07:56:21 +0000

Interesting that a very important point seems to have been completely overlooked ie: exit protocol.
Dealer groups are easy to join but how do they handle the exit. Recently we have seen a Dealer Group apply an exit fee of 10% for the last commission run ($4000) and then apply the standard split @80% down from 95% and refuse to sign the transfer until legal action forced the Dealer Group to sign off. Check the small print and ask around to see how your ‘new’ dealer group handles exits!

Comment on Advisers Changing Licensees by BillB

BillB — Wed, 09 May 2012 05:35:22 +0000

Having your licencee owned by a Big Bank ( or something with a similar culture ) will always be at the heart of the problem. Of the 6 topics listed, the first 4 are all part of the same problem-its called culture. “Support services ” (?) are largely meaningless for experienced advisers unless money is being thrown around.And there remains an un-resolveable conflict between compliance checking of advisers undertaken by Licencee employed “auditors”, and the sales focus of the product manufacturer who owns the Licencee

Advisers should never forget that if the banks could do without their aligned licencees as well as the bank ” employed” adviser force ( by utilizing the internet or direct marketing ) we would all begone in a flash.

Comment on Advisers Changing Licensees by David

David — Wed, 09 May 2012 05:25:55 +0000

A relationship with the licensee is like any other business relationship. The success depends on what you get out of it and ultimatley, what you earn.
Consequently in my opinion the two most important factors are support services & fees and dealer splits

Comment on Advisers Changing Licensees by Dave

Dave — Wed, 09 May 2012 04:03:36 +0000

those who think that big is best such as bank alignment will ultimately find themselves looking for a new dealer group, beware - culture is important.

Comment on Financial Advisers - Selling and Success by Paul Herring

Paul Herring — Thu, 03 May 2012 12:20:57 +0000

I’ve already commented on this forum, but feel the need to add to those previous.

Some people, including those who enter our industry from university, might think of selling as something only used car salesmen and high-pressure sales people of long ago did. But effective selling is not like that.

Good salesmanship is a near-art form because the people in it have to deal with the most demanding, most fickle and the most variable elements in any field - other people.

That such ones can not only survive, but prosper, is a tribute to their resourcefulness, their perseverance, their ability to handle rejection, and to their strength of character. They deserve a medal. Such are the life-risk insurance advisers, and probably to only a tad lesser-degree, the financial planner. Without sales skills they would never survive - even today in the world of the far-savvier prospect.

Comment on Financial Advisers - Selling and Success by RJW

RJW — Wed, 02 May 2012 06:08:03 +0000

3 Certainties in Life ~ Death, Taxes & Selling of Insurance products ~ don’t believe me ~ ask anyone who has tried to survive in the industry without selling !

Comment on Financial Advisers - Selling and Success by Jim Nelson

Jim Nelson — Wed, 02 May 2012 04:23:42 +0000

Every industry sells something - education, products, security ect. - and we all are salespeople.
You do not have to be good at selling to be a financial adviser or any other salesperson, however if you want to be a successful financial adviser or successful salesperson then this should be a requirement. Selling in our industry is but a by-product of the advice that we provide to our clients.
Successful financial advisers do not sell - they help clients to become successful as they are.

Comment on Financial Advisers - Selling and Success by mark thompson

mark thompson — Wed, 02 May 2012 03:30:27 +0000

What is selling? If it means taking someone from zero knowledge on the chances of suffering a termporary or long term illness or the chances of surviving a life threatening illness versus sudden death, then I guess that is selling. If showing how much one has to earn to be left with after tax dollars to pay back principal and interest on a 25 year loan, then I guess that’s selling if a critical illness policy is offered to clear debt.

Comment on Financial Advisers - Selling and Success by Wayne Leggett

Wayne Leggett — Wed, 02 May 2012 02:54:43 +0000

In my regular column in IFA Magazine, I have devoted numerous issues to the need for “sales” skills. If all clients needed was information, they could get that from the Net. It is a fundamental role of an adviser to assist the client in making the decision that the ADVISER believes to be in the best interests of the client. If you aren’t prepared to do that, you are a provider of information, NOT an adviser and, therefore, should not refer to yourself as one. If you aren’t prepared to assist clients in making these decisions, rather than leaving them to decide for themselves, you’re in the wrong profession.

Comment on Financial Advisers - Selling and Success by Michael Harrison

Michael Harrison — Tue, 24 Apr 2012 22:08:36 +0000

Anyone who thinks selling is not an essential part of the advice process does not understand the role of the adviser.

Good advisers assist their clients to make the correct financial decisions (to suit their individual objectives). If they don’t have the ability to SELL the solution by educating and persuading the client, they are wasting their time in the industry.