January, 2002 Article Submission Journal Archives ABOUT FSO Carolyn Hersman, Editor Financial Services Online (FSO) is the first and largest financial services publisher and portal on the Internet. Our publications include Financial E-News, FSO Journal and Messages From The Financial Masters (available at no cost on our portal located at www.fsonline.com. Daily free inspirational publications include Daily Inspiration Chicken Soup Reader's Digest Bits and Pieces Proverbs Plus Messages Quotes Daily Reflections Family Minute All Pro Dad Encouraging Word The Inspiration Store Daily Education Heloise's Hints This Day in History Site of the Day Recipe File The Education Store About NAIFA Founded in 1890 as the National Association of Life Underwriters, NAIFA is comprised of 900 state and local associations and represents the interests of 90,000 life and health insurance agents and financial advisors nationwide. Many of NAIFA's members are NASD-licensed registered representatives or registered investment advisors. Benefits of membership include legislative and regulatory representation, education and training, and networking opportunities. The NAIFA umbrella includes the Division of Financial Advisors and three specialty organizations: the Association for Advanced Life Underwriting (AALU), the Association of Health Insurance Advisors (AHIA) and GAMA International.		ARE YOU OUT OF PROSPECTS? by Edwin P. Morrow, CLU, ChFC, CFP, RFC A recent study released by the Spectrem Group indicated there are just a few prospects left. According to their analysis, there are 107,023,917 households in the United States. Of that number 3,737,000 have investible assets in excess of $1 million. On a national basis, that means that 3.49% of the households have a million in liquid funds, even though the average would exceed 6% in more affluent communities like Nassau County, San Jose or West Palm Beach. ABOUT PEOPLE WHO ARE THE DECISION-MAKERS? by Michael Lovas A Gold is a person who loves comparing value and then making a decision based on it. If you can draw a straight line from initial fact to ultimate decision, you can understand how the Gold focuses his energy. If you can then draw a few lines shooting off to the side, that's where the Gold files anything that's not directly related to the decision making activity. THE TRUSTED ADVISOR THE MAGIC OF BEING DONE by Bill Bachrach Let's face it. Some advisors are content to plod along and get wherever they are going whenever they get there. It's life in the slow lane. They take their time getting new clients, and as long as they make a little progress every year, they're content. That's one approach. ADVISOR TODAY Weathering the Uncertainty Generation Skipping After Tax Reform by Robert O'Connor Effective planning will help your clients cut taxes. There was a time when rich people were able to preserve family wealth by creating multi- generation trusts. These vehicles, safe from estate taxes, allowed vast sums of money to accumulate and enabled families to become powerful dynasties. BOOK REVIEW FINANCIAL SECURITY IN TROUBLED TIMES Author: Ric Edelman, RFC, CFS, CMFC Many Americans have been deeply troubled by three recent events, a falling and fluctuating stock market, continuous announcements of major corporate layoffs, and the tragedy of the attacks of September 11. Concerns are primarily economic and deeply personal: financial security- how to get it and how to keep it. Financial advisor and best-selling author Ric Edelman, RFC, of Fairfax, Virginia, offers quick and easy solutions to soothe the troubled spirit. THE STRESS DOC GETTING BEYOND THE BOX: Part II by Mark Gorkin, LICSW Today's 24/7, "do more with less" down sizing economy definitely uploads workplace stress and conflict. Some of the consequences of an over stretched and over stressed environment include reduced performance, increased absenteeism, rising health, disability and grievance claims along with a potential for burnout and workplace violence. Clearly, business as usual is not an acceptable Human Resources response to these productivity- and morale-busting conditions. FINANCIAL PROFESSIONAL TARGETING AFFLUENT INVESTORS - WHERE THEY ARE by Matt Oechsli Last month, we explored key characterizes of the Affluent market in an effort to better understand WHO they are. This time we address the question, "WHERE will I find them?" THE DIFFERENCE IS YOU Image is Not Everything-But It Is The First Thing Part II by Stan Hustad How do you begin to create an image? That is not an easy project. You will benefit by getting a coach or an advisor with strong communications, performance, and mass media experience to help you. It is deeply personal work. DISABILITY INSURANCE WHEN THEY BEGIN THE OVERTURE, THEY START TO END THE SHOW by Jim McCarty CLU, RHU, LUTCF, RFC Reviewing my 32 years experience with insurance sales, I conclude that most sales which are lost, are lost due to agents and advisors presenting themselves as teachers, rather than professional performers who engage their audience. Consequently, they don't "set the stage" with a great overture and they bore and confuse their "audience" as they attempt to teach them about things in which they have no interest. SUCCESSFUL SELLING SALESPEOPLE ARE HIRED TO SELL: ARE YOU A SALESPERSON OR A CLERK? by Bill Brooks There is a terrible, terrible thing going on in business today. It might even be happening to you, in your very organization. Unfortunately, it is well intentioned...but far too shortsighted. MENTAL ATTITUDE DYNAMICS WHY PLANNING PAYS by Charli Lamont Williams It's that happy time of year again -time to get excited about creating a new future for yourself, your family and your business. TECHNOLOGY TIPS TO CUT IT COSTS DURING THE DOWNTURN by Dan Osborne According to a July survey by Stamford, CT-based research firm Gartner Group, 44 percent of organizations have reduced their Information Technology (IT) budgets this year, some severely. Gartner reported that most were cutting back sharply on IT capital expenditures, particularly hardware. Now the situation looks even grimmer, with budgets tightening further and software allocations being pared down. CYBER-TERRORISM FORCES FINANCIAL SERVICES PROFESSIONALS TO SELECT WEB CONFERENCE PROVIDERS THAT DEPLOY ADVANCED ONLINE SECURITY STRATEGIES AND TECHNIQUES by Jim Robinson CLU, ChFC, CFP,MSFS Terrorist groups are increasingly using new information technology (IT) and the Internet to formulate plans, raise funds, spread propaganda, and communicate securely. In his statement on the worldwide threat in the year 2000, Director of Central Intelligence George Tenet testified that terrorist groups, "including Hezbollah, HAMAS, the Abu Nidal organization, and Bin Laden's al Qa'ida organization are using computerized files, E-mail, and encryption to support their operations." ADDENDUM: This Newsletter is published by Financial Services Online, Inc. and distributed on a complimentary basis to members of NAIFA, subscribers of the Virtual Sales Assistant(TM) and selected other recipients. 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