We all know we’re supposed to do the opposite and buy low and sell high. Why then do we all too often get it backwards? Actually that’s easy. To buy low you have to buy something that has not yet made it to the cover of the magazine or the front page of the newspaper. If it’s already made it there, it’s highly likely it’s already at the top. To buy low you have to buy something that most haven’t discovered yet. All too often that includes you. You have to buy when the news is gloom and doom. It takes tremendous courage to put your life savings in a volatile market when it’s crashing or before it has recovered. To buy low goes against instinct and reason for the common investor. As a result, very few buy low!
Why is it so easy to buy high? That’s easy, too. Buying high happens when the news is positive. The market is up and many are making money, probably including you. The temptation is to enjoy the ride a while longer or even buy more.
To do it right by buying low and selling high requires you to buy a lesser known stock or mutual fund, one that has never made headlines. You may also have to take a position in this investment when the news is bad and the market is low. The market is either still declining or not yet in much of a recovery.
Selling high means you are getting out of a particular position higher than you bought. The key here is that you are actually selling while you are still higher than you bought in at. People do funny things. They fall in love with their investments, unwilling to sell them. If you hold a position in the market long enough, it will always become a loser. There is no such thing as a permanently excellent company or a permanently excellent industry. Everything is cyclical. Greed also discourages us from selling while we are still winning. It feels so good to be making money on paper that we want to linger awhile longer, and then often we give back much, and sometimes all, of what we had made. Brokers often tell their clients not to worry since it was just paper gains, so now it is also just paper losses. This leads me to ask, “has the last decade been a paper decade?” This time around I want to make it count and realize my gains.
We know the people that get it right are called contrarian investors. Their decisions go against the flow. They swim upstream, seemingly all alone. That’s because most of the time they are.
A winning strategy is to sell, capturing the market’s gains on auto pilot. It would also buy on auto pilot. This effective strategy would take the emotion out of investing, allowing us to realize our gains without having to make difficult decisions. It would do one other thing for us also. It would capture the gain without triggering a taxable event until you decide to spend the money by pulling it out of the account.
Now that would be a winning strategy! I know of a strategy that does all this. Give me the opportunity to show you exactly how it works by answering all your questions. You should learn more so you too can benefit from just how effectively it solves the above problems.
Fact: Financial seminars are profitable.
There is simply no way to deny this. Our firm has been holding seminars on a variety of topics in the same general area for the past 15 years. Even after all this time, we still consistently write millions of dollars of business off of these seminars. The new business more than offsets our cost and brings in a handsome profit. Recently, I attended a conference of a large, well-known carrier who had their top ten producers participate in a round table discussion. When asked how many of those agents did seminars on a regular basis, ten out of ten hands went up. If this is the case, why isn’t every advisor doing seminars all of the time?
Off the top of my head, I can probably list a dozen reasons why agents don’t hold seminars. I believe the chief reasons advisors don’t hold seminars are cost, effectiveness, advisor inexperience and fear. The good news is the topic of Social Security has been a game-changer for how seminars are conducted. Some of the biggest reasons that keep advisors from doing seminars have now been eliminated.
Traditional seminars are more expensive, and there are two factors that contribute to the bulk of the cost: mailers and meals. Most financial seminar invites will pull less than 1% on average, no matter how elaborate the mailer. Many of these invitations can cost around 60 cents. However, the interest in Social Security is so great and the demand for information so high, that less expensive mailers in lower quantity can pull the same results as traditional mailers. This not only saves money on your cost-per mailer price, but it also reduces the number you have to send out to fill a room.
In addition to mailers being less expensive, most of the invitations can draw a crowd without offering a meal. People, typically, want something to drink or snack on at an hour-long presentation, and we have found that cookies, coffee, and water work just fine. This, as opposed to dinner ranging from $40-$80 per person, is a significant decrease in your overall cost.
The materials and the content of the Social Security seminar used by Tucker Advisors is extremely powerful. The HD videos, the flow of the content and the call to action is highly effective. It has been used to close over 80% of prospective clients into appointments on many occasions. In addition to good closing ratios, the seminar also builds a need for the information and the services of the advisor. The client needs to meet to discuss how to draw their Social Security. In the process, they realize that their entire portfolio may affect their Social Security and are often willing to share their personal finances in greater detail.
Not only is our seminar the best Social Security presentation on the market, but the seminar training that we offer is second to none. For many, learning how to deliver a seminar is intimidating and time-consuming. From memorizing, practicing, and delivering the presentation to handling the open, close, and appointment setting process is just too much for many agents. It is for precisely this reason that we have spent countless hours perfecting this process, making it simple, streamlined and efficient, even if you have never delivered a seminar before.
After all is said and done, some people are just terrified of public speaking. They would rather get a root canal than have to give a speech in front of a room of strangers! Does this sound like you? Maybe you aren’t as afraid of public speaking as you are paralyzed by the fear of what will happen if you simply just commit to doing a seminar. Will you be able to actually pull it off? What if you have a technological meltdown? What if you get asked a question publicly and you don’t know the answer? Not to fear! Our experienced seminar coaches will come to you and provide you all of the help and coaching you need – including actually performing the seminar for you. It doesn’t get any easier than that.
Regardless of your reasons for not doing seminars, the Social Security seminar needs to be a part of your marketing arsenal immediately. Call us today to book a seminar of to discuss having a seminar coach come to your hometown to present your seminar for you.
Three Ways to Thrive During the Holidays
Let’s face it: the holidays are busy. There are a thousand distractions for people during this time of year. From shopping to traveling, parties to vacations, there’s always something going on. DO NOT let this deter you from running your practice as usual. Instead of being swept up into the rushing rapids that are the holiday season, maximize this time and your earning potential with these three ideas to keep your momentum during the end of the year. Full Steam Ahead!
Why? Because no one else is. You would be surprised at how many people prefer to meet with their financial planner during the busiest time of the year. Maybe it provides them with a reprise from the chaos for a few hours? Perhaps they are already regretting how much they have spent on Christmas shopping, and they need to stash their Christmas bonus into a Roth IRA? Whatever the reason, don’t write everyone off as not wanting to meet with a financial professional during these months. Most advisors are afraid to spend money during this time of year for that reason, but people need help and they will meet with you if you are available. It is still a good investment even if they can’t meet during the holidays. People will remember your marketing through the holidays and now you have the upper hand in getting an appointment in the early part of the new year.
2. Hold client appreciation events
Admittedly, there will be prospects who do not respond to your marketing during the holidays simply because of their schedules. Another great marketing avenue would be to do a client appreciation event during this time. People may not want to make the switch from one financial advisor to another during this time of year, or take the time to research and make a decision on a new investment, but they will definitely go see “The Nutctracker” or “A Christmas Carol” at their local theater. Better yet, they will bring their friends.
Christmas events are excellent referral opportunities because people will introduce you to their friends during an evening at the theater before they will give you their information to cold call. We have held events where our clients and their guests meet for hors d’oeuvres for an hour or two before the show which provides a great environment to meet everyone in a casual, more relaxed setting. You can quickly build relationships during this time and then begin to follow-up that first of the new year.
Client appreciation events are a staple in many successful practices. Why not do them when everyone is already in good cheer and you can capitalize on the festive season? If you are hesitant to try new marketing campaigns during the holidays, you must use this time to deepen current relationships and gain referrals
3. Build and Implement Your 1st Quarter Business Plan
January through May is historically the busiest time of the year for advisors. People have come back to reality from their holiday getaways. They are doing their taxes, planning for the year, etc. You want to hit the ground running during this time. Be the first advisor in your area holding seminars and dominating the airwaves with marketing. Think about this: if it takes six weeks to comfortably get a seminar planned from start to finish, and you want to start seeing prospects the first or second week in January, you need to have your marketing lined up by the end of November at the latest.
Don’t get left behind in the New Year. Keep your momentum going through November and December with some fresh marketing. Make sure your clients hear from you during the Holidays, preferably at an event. Have your 3-month plan moving forward by the time December gets here. Remember: Proper planning prevents poor performance.
I wish you great selling,
People put their principal at risk because they don’t know they can use just the yield to accomplish similar results over time.
The above example powerfully illustrates the difference between investing in traditional market vehicles and the Indexed Annuity.
The Indexed Annuity is nothing like the typical tools people use to grow their money. It’s totally different and does not duplicate other holdings in
their portfolio unless they already own one.
You should learn the story behind the above example and be able to clearly and easily have it roll off your tongue in every presentation.
HERE’S THE STORY…
“THE INDEXED ANNUITY IS NOTHING LIKE THE TYPICAL TOOLS PEOPLE USE TO GROW THEIR MONEY. IT’S TOTALLY DIFFERENT AND DOES NOT DUPLICATE OTHER HOLDINGS IN THEIR PORTFOLIO UNLESS THEY ALREADY OWN ONE.”
Your prospect’s broker probably uses the traditional tools Wall Street offers to grow your prospect’s money. He takes their principal and invests it in shares of something. With shares you end up with ownership. You get all the good and all the bad. You own it. You follow it wherever it leads you. You have no choice. Before your broker takes your money and buys shares of something, he had better have a pretty good idea that what you’re buying is going to go up. He and the investor both need foresight.
By contrast, this is how the Indexed Annuity works. You take the client’s principal and put it in a location safe from market risk— the insurance company’s portfolio of primarily bonds. Then you get very aggressive with just the yield by buying options that allow us to control indexes like the S&P 500. The option gives you the right to participate but not the obligation. That’s why you have control vs. ownership. With this control, using an option that expires one year later, you get to wait and see if the market goes up. If it does, you have the right to participate and lock in any gains. If it doesn’t, you don’t participate and you lose only your yield for that year. By letting a year go by and looking back to see if the market went up only requires hindsight, which is always 20/20.
I wish you great selling,