Advisor Today - March/April 2016 - (Page 48)
By Brian Ashe, CLU
These questions might help make 2016 your best year yet!
ver the years, one of the lessons
I learned was that questions
are the best way to begin a
conversation with a client. But how the
content of those questions is designed
has a huge impact on one's success in
moving a client to action. That design
process is called "framing."
Since we are early into 2016,
I'd like to share some of the best
questions on retirement and life
insurance planning I've acquired from
folks like Van Mueller, Tom Hegna
and Byron Udell, along with a couple
of my own-questions that may help
your 2016 be more successful.
So, here we go:
* Do you think we'll ever go through
periods like 2000-2002 and 20072009 again? Do you think some
people made money even when the
market went down? Would you like
to be one of them?
* If there's a good chance those
things will happen to a lot of people
all over again, what will you do
differently so they don't happen to
* Some people made money when
the market went down and some
people lost money. Which one do
you want to be?
* W here will your income come from
when your paychecks stop?
* If I had a way by which you could
continue your income, even if your
money was gone, would you like to
know more about that?
* Would you rather have a chance to
be rich or a guarantee you would
never be poor?
* If you had to invest today, when you
don't need any additional income,
what would you invest in? Why?
When? Well, if it's hard to know
what to do now, when you don't
need the income, do you think it
will be easier later-when you do
need the income and you can't make
any big mistakes?
48 ADVISOR TODAY | March/April 2016
Properly "framed," questions can simplify the
commonsense choices clients should be considering.
* Are you tired of having nothing you
can count on for income?
* Markets go up and down. Interest
goes up and down. What's your
strategy for leveling out your income?
* How do you get a 6 percent safe
income in a 1 percent safe income
* W hat does everyone like about Social
Security (A check every month they
can count on)? Would you like more
checks like that?
* Let me make some recommendations.
You always have the veto power. Does
that sound fair?
* Do you think the government wants
more or less tax revenue? What
are you going to do to reduce or
avoid taxes? If I could show you a
way to defer taxes now and give the
government less later, too, would
that be something you would be
* You would take a bullet for your
family. Why is it so difficult for me to
convince you to allocate $100 a month
for life insurance to protect them?
* W hat percentage of estate reduction
is acceptable to you?
* How did you arrive at the amount
of life insurance you currently have?
Is that amount still valid, based on
current income and debts?
* Money doesn't buy life insurance.
Health buys life insurance. The
money just pays for it. Doesn't it
make sense to get your life insurance
when you're younger and healthier?
* Do you want your life insurance to
be in effect when you die? Do you
think you have an "average" life
expectancy? Have you calculated
how much term life costs if you just
hit that "average"?
Questions are generally nonconfrontational. They seek
information to help both the advisor
and the client clarify needs and
options. And properly "framed," those
questions can zero in on, and simplify
the commonsense choices our clients
should be considering, without being
cluttered with a lot of technicalities.
Give them a try. Can you think of a
better way to start a conversation?
Brian Ashe, CLU, is president of Brian
Ashe and Associates, Ltd., in Lisle, Ill.,
and the 2012 recipient of the John Newton
Russell Memorial Award. A past president
of MDRT and a past chair of LIFE, he may
be contacted at email@example.com.
Table of Contents for the Digital Edition of Advisor Today - March/April 2016
From the Editor
A Question of Ethics The Details Often Make the Difference
What's Ahead for Financial Advising?
Whos's Saving the Most and Why?
Making the Case for Critical Illness Insurance
Are You a Retirement Expert?
Selling the "Best Plan"
Taking Incremental Steps Toward Success
Investment Strategies for Today’s Consumers
How Tax Efficient is Your Investment and Retirement Portfolio?
Ideas for a Profitable Practice
Crossing the Two Client Relationship Bridges
Working with Muslim-American Clients
Attracting and Serving Today's High-Net-Worth Clients
Becoming a Networking Success
Advisor Today - March/April 2016