One of the most often stated questions in the financial services marketplace is: “What do you think about the market?” Certainly, with the dramatic swings seen in the indices during recent weeks and interest rates below historical norms, many fear another recession at best or a 1929 redux at worst. Understanding these concerns, turn them…

Ten Steps to Robust and Productive Sales Leadership Sales Management is anything but a spectator sport!   It requires the consistent application of proven strategies and tactics to develop effective sales professionals and thereby produce stellar sales results.  The questions are: what are these strategies and tactics and how do we develop a mentoring process that…

Today’s investment market is, by any definition, wild, hairy and unpredictable. Investment advisors and certified financial planners are often as replete with angst as are their clients.  Sectors swing wildly. Bond yields are at historic lows. And historically valid concepts of diversification seem to crumble before your very eyes. Portfolios constructed in accord with the…

All too often, selling is an all or nothing proposition, leaving the prospective client with a very simple choice to make – implement the solution that has been discussed or walk away. Psychologically, buyers do not want to give up control and, as such, feel compelled to say “no” simply based of the structure of…

There are pros and cons to generating cash flow through single-premium fixed immediate annuities versus systematic withdrawals from an investment portfolio. Pros It provides the maximum cash flow per level of risk, particularly with fixed annuities in the near term. If structured for life (lives), the annuitant cannot outlive the income. May be useful in…

The CFP Board hosted its annual conference last week for directors of CFP registered education programs. Here are some of the highlights: The CFP Board is currently promoting a public awareness campaign to educate the public about the value of utilizing certified financial planner professionals.  To view their latest TV Ad spot, click the following…

Years ago, I attended a CFP Board Director’s conference in which a panel, consisting of professors and Certified Financial Planner practitioners, led a discussion regarding sales skills and the need for CFP financial planner certification and education programs to begin teaching sales skills.  During the Q&A time, an objection to teaching “sales skills” was made…

One of the most dominant trends in the financial services marketplace today is the integration of product lines – from brokerage and mutual funds to insurance and complex estate planning to solve complex client needs. The result is an increasingly complex sales process which can become bogged down due to the wide range of issues…

There are pros and cons to generating cash flow through systematic withdrawals from a prudently allocated investment portfolio of equities and fixed income instruments versus an immediate annuity. Pros This methodology is the “Cadillac plan” for clients when: An initial withdrawal rate of less than about 4.5% meets their cash flow objectives with minimal risk…

The decision making process is difficult for many, if not most, people. The difficulty lies in the buyer’s inability to assimilate both feelings and facts, and then massage them to a logical and emotionally satisfying conclusion. Successful sales professionals are those who are able to help prospects/clients through this process without making them feel like…