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Last week Tom Hegna broke our Zoom with over 1145 financial advisors registered for our live training. Many couldn’t make it so we’re doing it again this week in case you missed it. Who luvs ya? 😉

How to Sell Financial Services Anytime, Anywhere With A "Secret" App While You Sleep, Work or Play

Click here to reserve a spot!

❄️ Your Sunday Chill Pill Has Arrived

GM. This is the Advisorist, your much-needed oasis in this summer sizzle.

What's hotter: 🌡️ the record-breaking July heat 🔥 or the sizzling gas prices ⛽?

This week hundreds of readers voted “we want more Sales and Marketing tips” on our Power Hour.

So here you go.

Stay frosty my friends,

Jeremiah “Keep Asking Until You Get it Right” Desmarais
CEO, Advisorist

In Today’s Issue 👇️ 

• 9 powerful sales questions for 1-in-5 Americans who may not retire.

• The 28 overlooked things your clients can do with life insurance (Send this to your clients).

• A template to talk to your clients about the Fed’s latest hike.

• How advisors can multiply client confidence by 31%

Plus, all of the week’s biggest headlines and a couple of memes.

Let’s dig in…

Advisor 🆘: 1-in-5 don’t think they can retire

Axios/Ipsos released a new poll that offers a fresh look at the American retirement scene.

Feeling the Blues:

• 20% feel they might never retire due to financial fears.

• 70% of those say it’s unaffordable, while 19% just don't want to.

• 40% of the yet-to-be-retired prefer to work as long as possible.

• 44% of ages 55+ had to adjust plans due to economic factors.

Use these simple questions to bring out the concern and guide the conversation.

Here’s a snippet of a flow chart to address these client concerns:

Start with: Open-ended question to get convo flowing, then ask for plan.

"What does your ideal retirement look like?”

“How do you plan to finance this vision for retirement?"

Client mentions social security, 401k, or other investments. Follow with:

"In your opinion, do you think your social security or other investments will be enough to pay for your retirement?"

They seem uncertain or say no. That's your cue. Delve deeper:

"Have you considered a retirement savings strategy, such as using a 401k, 403b, or an IRA?"

If yes, then ask:

"What percentage of your retirement finances do you expect these accounts to cover?”

And then:

“Can you tell me a bit more about your understanding of these accounts?”

Gauge their perception about working beyond retirement age:

"What’s your plan if you have to retire later than expected?" Have you considered working as long as possible and not fully retiring?"

If yes:

"Are you planning to work because you enjoy it, or because of financial necessity?"

We plan to publish the full flow chart on our site this week.

🤯 28 Things You Didn’t Know You Could Do With Life Insurance

Buy lottery tickets? Start a business? Invest in art?

Life insurance can do so much more than our clients think.

Check out this impressive list of 28 things that life insurance can buy you, and consider sending one or all of them to your clients to start up a conversation!

[subject] life insurance list

Hey [Client Name]… this came across my desk, and thought you’d find it interesting. Happy Sunday!

1. Create an inheritance beyond family, like Andrew Carnegie.

2. Donate to charity, like YMCA founder George Williams did.

3. Cover estate taxes, like family of a Miami Dolphins owner did

4. Fund business succession plans, like J.C. Penney did.

5. Settle debts, preventing them from burdening family.

6. Cover funeral and final expenses.

7. Access funds before death through a living benefits rider.

8. Build cash value over time, which can be borrowed against.

9. Utilize the cash value to pay college tuition.

10. Supplement retirement income using the cash value.

11. Purchase lottery tickets, like this Romanian mathematician.

12. Invest in real estate, like Walt Disney did to fund Disneyland.

13. Venture into cryptocurrency investments (at your own risk).

14. Start a business, like Ray Kroc did to found McDonald's.

15. Guarantee a mortgage loan.

16. Cover medical bills for chronic or terminal illnesses.

17. Secure life insurance for a child or grandchild.

18. Equalize inheritance among children.

19. Protect a business against financial loss of a key employee.

20. Invest in art.

21. Invest in stocks.

22. Settle business loans upon a business owner's death.

23. Fund travels or vacations (after the policyholder’s death).

24. Fund a trust for dependents.

25. Bridge the Social Security income gap.

26. Fund a business partner buyout agreement.

27. Use as collateral for a loan, like the Rockefeller Center did.

28. Or even commission a musical production!

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📲 The Secret App To Generate High-Close Leads Anytime, Anywhere

Our good buddy Tom Hegna (world-renowned economist, PBS Host, and author of multiple books on retirement) is playing (and winning) MORE golf this year than he has in a while.

It’s no coincidence he and other advisors are smashing records with sales.

Like Jovan J. (Upper Marlboro, MD)…

She had a call with an “A+” client who had just turned 59 ½.

They were scheduled to have a meeting to discuss rolling over some of her funds. In preparation, she used this app…

When they got on the call together, Jovan could hardly get out a word before her client said…

“I’m completely sold on an annuity. I know I need an annuity.”

Jovan says she didn’t have to do any selling or convincing on the call 🤯 

That was it.

She set up a $300,000 annuity rollover 🙌

This is an app that’s built specifically for financial services.

Discover how to use it to grow your business AND spend less time tethered to your desk.

Whether you like traveling, golfing, or just want to spend more time with your family…

We’re prepared to pull back the curtain and show you how.

ENCORE! How to Sell Financial Services Anytime, Anywhere With A "Secret" App While You Sleep, Work or Play ⛳🏌️‍♀️

Thursday, August 3rd at 1pm EST / 10am PST

👉️ Click here to reserve your FREE seat today! Don't miss out. We may hit our Zoom capacity.

Top Headlines: Everything You Need to Know

Fed’s Move Explained In 4 links 🤓

• Fed Sees No Recession, Rates Now At 22-Year High (BN)

• Bullish Market Mood Solidifies Soft-Landing Predictions (MW)

• Advisors Now Look to September for Fed’s Next Move (IN)

• Econ Resilient, Companies Confident, Consumers Slower (BN)

Devil’s Advo 😈

• Opinion: Rosenberg Says No Chance of Soft Landing (MW)

• Cooling Prices Have Counterintuitive Consequences For Fed (EC)

• Optimism Often Comes Before a Recession, So Stay Cautious (NY)

• Leading Economic Index Drops (0.7%), 15th Month in a Row (MB)

Best of the Rest 🏆

• SEC Proposal Holds Advisors Accountable for AI Use (FP)

• High-Interest Rates Boost Annuities, Here’s The 100 Best (BR)

• Prime Age Americans (22-54) Flooding the Job Market (WSJ)

🤔 How to Talk To Your Clients About Jerome Powell

There comes a time in every advisor’s life (approx. ~8x per year) when you need to talk to your clients about Federal Reserve Chair Jay Powell.

Here’s a helpful template to do just that!

============ Start of email template ============

[subject] Quick Insights on the Fed's New Rate Hike

Hey [Client's Name],

You’ve probably been hearing alot about the Fed’s new rate hike. I thought it might be helpful to share some insights:

• Interest rates went up by another 0.25%. We're now at a 22-year high for the Federal Funds Rate.

• The Fed's next meeting is in eight weeks (September) and they're committed to bringing inflation back to their 2% target.

• New inflation data (the PCE) is lower, but the Fed will consider CPI and unemployment rate for future rate decisions.

So there might still be more hikes ahead. It's a balancing act between controlling inflation and avoiding recession.

Some positive news?

The majority of top economists (71%) now believe there's less than a 50% chance of a recession in the next 12 months. And 1-in-4 think the odds are 25% or less.

It seems to me we could be near peak interest rates.

That’s good because historically, equities have performed well post-hike.

For example, S&P 500 median returns were up +7.7%, +19.1%, and +62% at the 3, 12, and 30-month marks (respectively) after previous pauses. Of course, past performance doesn't guarantee future results.

Always here if you want to chat further.

Best, [Your Name]

============ End of email template ============

💪 The Advisor Confidence Multiplier

It turns out, Americans still lean on their trusty financial advisors for financial advice over everything else. Take that, FinTok!

The data shows people want vetted, trustworthy sources and that a financial advisor's presence is a confidence multiplier.

Only 37% work directly with an advisor. But those who do have an advisor see a nice uptick in confidence:

• Preparedness for unexpected expenses (+31%)

• Ability to retire on time (+29%)

• Long-term financial security (+28%).

Client Conversation Starter:

Here’s an email template to share the positive impact of financial advice.

[subject] 31% more confident?

Hi [Client Name],

I saw a study this week you might find interesting…

Turns out, when you work with a financial advisor, it can boost your confidence in being prepared for unexpected expenses by 31%, retiring on time by 29%, and securing your long-term finances by 28%.

For current clients: Do you find that’s true been true for you since we’ve been working together? If not, we should touch base and check in.

For prospects: Are those areas you worry about? If so, let’s hop on a quick 10 min sometime this week and see if I can offer any peace of mind.

👀 The Best Thing I Saw All Week

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.