NAIC drew criticism for a proposed new accelerated underwriting definition. Consumer advocacy groups are demanding transparency in the life insurance application underwriting process, especially related to accelerated underwriting. While industry experts say they need more time to consider the definition. With AU program use on the rise industry regulators have…
Two reasons IRA and 401k balances are at record highs: First, more contributions led by record saving during the pandemic and increased 401k enrollment. Second, a bull market pushed those bigger balances higher than ever. Back in 2020, at the beginning of the pandemic did you expect IRA and 401k…
2020 and pandemic market volatility have made predictions tough for many insurers. Surprisingly, the annuity market fared better than expected in the pandemic. We mentioned that back in June of 2020. So, why is the annuity market better than expected in the pandemic? According to ThinkAdvisor, “That means some investors…
Spring cleaning your practice for efficiency and profit should be on your annual to-do list. We’re not talking about getting out the mop and broom (although a clean workspace can boost productivity). We mean the same kind of practice management that makes an efficient and profitable business. While you’re not…
Attracting Gen Z financial planning clients is important to grow your practice. We’ve told you before not to ignore Millenials and Gen Z clients. So, how can you attract younger clients? According to Financial Planning, “The next generation of clients thinks differently about wealth and the markets, and because they’re not…
Catch-up IRA contributions could be limited to Roth accounts if the Secure Act 2.0, legislation passes. Advisors are concerned that this is part of a legislative trend toward Rothification which would increase tax revenue, but limit investors’ options. We first mentioned this trend during the Trump tax cuts in 2017….
Consider Sales Motivation Beyond Commission You want to grow your practice and you want your brokers to be successful. Obviously commission is a huge motivator and we couldn’t agree more. Have you seen our VIVA 2021 program guide?
We’ve talked about the stability of annuities before. What if you could change one word in your pitch to sell more annuities? According to Harry Stout, it’s a matter of creating a new mindset for clients. “When advisors talk to their clients about annuities, the conversation usually centers on creating…
What lessons can the Gates divorce teach financial advisors? According to Investment News, Bill and Melinda Gateses divorce is the largest division of assets by a couple- ever. “…clocking in at an estimated $146 billion, according to the Bloomberg Billionaires Index. The split of the Gateses’ assets will outpace the…
Don’t ignore Millennial and Gen Z client markets, according to Financial Advisor Magazine, “Surface-level commentary obscures the important differences—and similarities—between generations. And the risks of getting millennials and Gen Z wrong couldn’t be higher. These generations are too big and too important to misunderstand or reduce to stereotypes. Millennials…
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