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One newbie, self-described 'lazy advisor' fell into pay dirt this year. While working only 3-4 days a week, he hit $2M AUM + $2M annuities doing zoom meetings with Fed Employees. All prequalified, pre-vetted. All he did was show up and close.

Good news? They have a few remaining territories available.

👉 Click here to learn more and see if your city is available

🚽 The Golden Toilet Heist

In a golden toilet heist worthy of a blockbuster heist film, four men are now facing charges for the theft of an 18-carat gold toilet. 

Valued at nearly $6 million, the toilet  – part of an art installation – was located in Winston Churchill’s childhood home.

Prior to being stolen, visitors could book a 3-minute “stay” with the fully-working toilet.

Alllllrighty then…

In Today’s Issue 👇️ 

• How to get your slice of the $84T wealth transfer

• 1 simple way to prevent leads from procrastinating

• A unique way to score Fed Employee clients

And all of the week’s biggest headlines to make you the smartest advisor in the room. Let’s dig in!

💎 Gen Z Doesn’t Want Advisors – How to Flip the Script

The Great Wealth Transfer is hurtling towards us at warp speed, and Millennials and Gen Z are at the wheel, with an incoming $84.4 trillion riding shotgun. 

A lot has been written about millennials – and most advisors have finally started actively pursuing them as clients…

…but what about Gen Zers who are in their 20s?

They might not have a lot of assets right now – but they will. 

And here’s the problem: Only 30% of them are interested in seeking advice from financial advisors.

Why the Cold Shoulder? 🤔

Gen Z, with their TikTok dances and expensive Taylor Swift concert tickets, have been raised in a world of DIY apps and information overload.

They’re much more likely to believe a tool or YouTube video can help them manage their finances than an advisor they actually have to speak with.

But there’s still very much a place for FAs over the next couple of decades as trillions of dollars pour into the pockets of Gen Z.

And if you plan on being in this business beyond the next 5-7 years, you need a plan to start warming up the adult children and grandchildren of your current clients.

Ideas for Warming Up Gen Z 🔥

1. VIP Pass for the Next Gen

In a world of virtual meetings and Zoom calls, I’m all for hosting the occasional in-person event for your local clients. And I have a suggestion: Invite your client’s entire family – adult kids included. This gives you face time with the next generation and helps you build trust and familiarity with them.

2. Speak Their Language

Gen Z doesn’t do jargon. It's time to ditch the financial thesaurus and craft content that’s transparent (and posted where they actually consume content). TikTok tutorials and YouTube explainers are the move here.

3. Recruit Younger Advisors

If your practice is in growth-mode, be on the lookout for younger advisors that you can recruit to your practice. Advisors in their 20s and 30s naturally connect much better with Gen Z.

4. Tech Up Your Game

Stop seeing tech as your opponent and start using it. AI tools, apps, and software are a big part of Gen Z’s life. Use them to your advantage.

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🤑 The Lazy Advisor’s ‘Best Friend’

I recently ran across a self-described “lazy advisor” in Wisconsin by the name of Tim S. who’s got less than 1 year as an advisor…

And he’s somehow generated $2M in annuities and another $2M in AUM over the past few months.

Naturally, I needed to know what he was doing. 

In Tim’s words: “If I can do it, anybody can. It’s the easiest plug-and-play solution out there.”

He told me that kind of stumbled into this program designed for advisors, RIAs and FAs who want to build a business with long-term growth potential working exclusively with pre-qualified Federal Employees.

He’s already generated $150K in income for himself over the past 12 months – and expects to bring in $200K-$300K next year.

Again, he’s only been doing this for ONE YEAR. 

For 2024, his goal is to bring in a cumulative $10 million between annuities and AUM.

In his words, “I’d be doing something wrong if I don’t reach this next year.”

Not bad for a guy who doesn’t take meetings on Mondays until noon and takes Friday afternoons off to golf. ⛳

The thing about Fedpeak is that it’s hands-on and proven:

They have a proprietary system set up where you, as the advisor, are able to tap into established Federal employees, and generate a steady drip of warm appointments who are already qualified and ready to buy by the time you ever have a single conversation with them.

There’s minimal-to-no learning curve and you can get started even if you aren’t currently working with Federal Employees. 

Because of my personal relationship with the guys over at Fedpeak, I’ve secured a few spots for new advisors to enter their program.

But hurry, territories are on a first come, first serve basis.

👉 Click here to see if your territory is available

Headline Roundup

🏠 Affecting Your Clients

• Credit Card, Auto-Loan ‘Stress’ Rises as Consumers Fall Behind [MW]

• Social Security Trust Fund May Run Out by 2034 [CNBC]

• Just 1-in-5 Women ‘Very Confident’ They Can Retire Comfortably [NAPA]

📈 Markets & Economy 

• Some $2 Bills Are Now Worth more than $20,000 [MW]

• Robinhood Shares Drop Sharply After Decline in Trading Volume [CNBC]

• US 30-Year Mortgage Rates Plunge by Most in 16 Months [Y!]

💼 Industry Roundup 

• Like it or Not, AI is Transforming Wealth Management [FP]

• Opinion: CD Issuers Will Keep Struggling to Match Annuity Rates [TA]

• Leveling Interest Rates Could Signal a Return to Bonds [FP]

⏰ 1 Simple Way to Stop Prospects From Procrastinating

Tired of procrastination holding you back?

Research suggests eliminating deadlines…or at least shortening them.

The study found people are LESS likely to complete a task the further out the deadline is.

That’s because LONG deadlines give people permission to procrastinate.

The more time a prospect spends in the sales pipeline, the more likely they are to overthink and second-guess themselves. 

Armed with time, prospects start asking other people in their circle for opinions on whether they’re making the right decision. This leads to ‘brain noise’ and confusion. 

SHORT deadlines increase urgency and compel people to take action with greater confidence. 

👍 Using Shorter Deadlines to Win More Clients

So if you’re meeting with a prospect and he tells you he needs to talk with his spouse before proceeding…

…don’t tell him to call you in a week.

Tell him you’ll check back in tomorrow to see what decision they’ve made.

By shortening the deadline, you make the task a bigger priority. 

If nothing else, this leads to less procrastination and faster results.

The worst that happens is the prospect tells you they have not made a decision, in which case you’re in the same position you would have been in if you decided to wait to follow up.

This goes for scheduling appointments as well.

If you have a 3-meeting process for educating, selling, and onboarding a new client, don’t wait 7 days between meetings. 

Schedule the appointments 48-72 hours apart to accelerate the process and prevent procrastination from sabotaging a sale.

🗓️ Upcoming Industry Event Calendar

Nov 12-16: NAEPC Advanced Estate Planning Strategies Conference

Nov. 28-30: Investments & Wealth Strategy Forum

Dec. 4-7: Market Council Summit

✌️Good Vibes

In 2020, at 91, Malcolm Stern serendipitously discovered his dad's 1930s Talbot-Darracq on auction. 

With son Jonathan's help, they snagged and restored this family relic, which was originally sold back in 1942.

After buying the car for £8,000, Malcolm, armed with a 3D printer and sheer determination, embarked on a 3-year restoration journey. 

At 94, with son Jonathan by his side, Malcolm triumphantly cruised to a vintage car meet earlier this month in the fully restored Talbot-Darracq.

How’s that for a comeback story?

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