May, 2002

Article Submission

Journal Archives

ABOUT FSO

Financial Services Online (FSO) is the first and largest financial services publisher and portal on the Internet. Our publications include Financial E-News, Financial Services Journal Online and Messages From The Masters, which are available at no cost on our Portal http://www.fsonline.com
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. It is designed to provide financial service
professionals an overview of the events and happenings that may affect their business. If you would like additional information on any items or the sources used, please e-mail us at
e-news-list-admin@ e-news.fsonline.com

Contact: Carolyn Hersman
chersman@comcast.net

Copyright © 2002 Financial Services Online. Reprints and/or permission to reproduce Financial Services Journal must be obtained in writing from the publisher, Financial Services Online.

LEGAL NOTICE
Please read these important
legal notices concerning this publication

About NAIFA

Founded in1890 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.

 

Please note email change for the editor:chersman@comcast.net

How to Analyze Your Client Base

...and other critical factors to make your
practice exceptionally profitable

by John H. Melchinger

More than 85 percent of the time, professional financial services practitioners find their most suitable and lucrative target market segments by first doing a thorough relationship analysis before trying to arbitrarily access "the affluent" or other amorphous "markets" with which the practitioner has little or no affinity. 


INSURANCE SELLING
Throw the Monkey Fist First
by Jim McCarty
CLU, RHU, LUTCF, RFC

The sale of life insurance is often perceived by producers as a problem. It only becomes a problem, however, when it ceases to become a procedure. This procedure begins with the basics, talking concepts -throwing the "monkey fist"- before discussing the details. Don't forget, until prospects buy into the concepts, they will never buy into the details!

ADVISOR TODAY
Vary-able Life
by Lynn Vincent


True to their name, variable life sub accounts, well ... vary in value. Here's how to deal with consumer concerns over equity-linked products.

THE STRESS DOC
Purposeful and Playful Workshop
Exercises and Strategies:

The Art of Practicing Safe Stress
by Mark Gorkin, LICSW

Reflecting on his recent successful Professional Convention Management Association Annual Meeting workshop, the Stress Doc briefly describes the two key interactive exercises. He then analyzes why they are highly effective for yielding stress relief, laughs and team building synergy.
SALES
How To Become Enormously Successful In Your Insurance Profession By Astonishing Your Clients At Least Four Times Each Year!
by Ken Varga

The first step to building a massively successful insurance agency or practice is to understand this important business principle..The Purpose Of Your Agency Or Practice Is...To Get And Keep Lots Of Customers Or Policyholders!

SELLING SKILLS
The Forgotten Art of Listening
by Ed Brodow

We hear mostly what we want to hear, not what the other person is trying to communicate to us. Many conflicts can be resolved easily if we learn how to listen.
50-PLUS COMMUNICATION
Life Happens: Learn To Make Money From It
by Dick Ross and Michael P. Sullivan
At some point, everyone needs help dealing with financial implications of life's inevitable ups and downs. Births, deaths, marriages, retirements, accidents, illnesses, divorces, new jobs; you name it, they happen to everyone you know and everyone you meet.
FINANCIAL PROFESSIONAL

The Two Sides of No
by Steve Kaye, Ph.D.

Rejection hurts. No one likes to give it or to receive it. We all wish we could live in a world where everyone said "yes." And yet sometimes we have to say "no." Here is how to deal with both sides of "no."

PSYCHOLOGICAL MARKETING
Psychological Marketing 101
by Michael Lovas

This is what I call "Psychological Marketing 101." It's not very sophisticated, but it's miles better than the "old school." Better how? Better in that you get to take the advantage and control your marketing instead of being a casualty of it. If you're passive, this may not be for you. If you're self-directed and like to control your own activities, then, you will probably like Psychological Marketing.

SALES PRESENTATIONS
Sales presentations that "hit home"
by Sales Excellence
Have you ever spent all night -- or what seemed like all night -- putting the finishing touches on that perfect presentation? You arrive the next day, deliver your message with conviction and flair, and leave for home feeling great, only to discover later that they decided not to buy. It bugs you a little, doesn't it?
RELATIONSHIP SELLING
Helping Others Helps You
by Bill Brooks
A by-product of helping others to achieve focus and direction is that your own focus and direction improve as well.
HIGH PERFORMING ADVISORS
The Cost of Not SayingThank You
by Norm Trainor
Advisors, because they are often heavily focused on the daily demands of their business, tend to neglect acknowledging others. As well, advisors don't usually appreciate the referrer's emotional stake in the relationship, their need to know that their friend appreciates the referral, and their need to be assured that the advisor is strengthening the bond between themselves and their friend.
THE DIFFERENCE IS YOU
Now More Than Ever - You Make the Difference
by Stan Hustad, Performance Coach
Trying times bring us to lasting truths if we have the sense to stop, listen, learn, and change. The truth is that now more than ever, it is the advisor makes the difference. For some time we followed the fools tale that there was a new economy of eternal prosperity, that the business cycle had been repealed, and that the financial advisor should market and sell company, fund, and market performance. The advisor who played that game now has nothing to say because they have nothing to offer.