Marketing Corner – 10 Reasons Why Your Prospect Says “No”

Marketing Corner – Thursday, December 7th, 2016

10 Reasons Why Your Prospect Says “No”

Advisors experience many no’s throughout their career. It’s simply a matter of course in business and in sales. A no can happen anytime as you engage with a prospect–from the first minutes of an appointment, to after the meeting, to follow-up work, to recommending another solution. The common way advisors approach no’s is playing the numbers game—i.e. after so many no’s you’re bound to get a yes. (Think of the old sales cliché “99 no’s and a yes is still a yes.) While this method of prospecting can work for some producers, there is value in understanding why a prospect says no—especially when there are simple things that you can do to turn them into a yes.

Here are 10 reasons your prospect says no.

They Don’t Trust You

Trust is crucial in converting a prospect to a client. If a prospect doubts whether you are reliable, truthful, and sincere, they are likely to dismiss any great advice you offer. Clients and prospects may not trust you for a variety of reasons, such as you are too eager to sell, your body language is protective and closed off, or they are naturally suspicious of financial advisors.

Build trust by explaining your credentials and experience. Discuss your approach/mission statement and address any concerns a prospect has about the financial planning process head-on. Exhibit confidence, but use warm body language.
For body language tips, check out our previous posts, 5 Body Language Tips for Keeping a Prospect Interested and 7 Non-Verbal Redflags You’re Losing Your Prospect.

They Don’t Understand

Some prospects you deal with will have a comprehensive knowledge of financial planning and only need you to facilitate solutions. Some may understand the basics of annuities or life insurance. Others may not have any understanding of financial and retirement planning. All types of prospects you encounter may balk if they don’t understand the information you provide.

To ensure that your prospect understands—truly understands—first assess their experience with financial planning. Ask them early in the appointment what types of concepts, products, or solutions they are familiar with. Use this information to determine the level of complexity you bring to your solutions. An individual that has no experience with financial planning may need several levels of breakdown before they understand what you present to them. This is also where concept sheets and yellow-pad concepts can help. Check for knowledge as you move through your presentation.

They’re Not Emotionally Connected With The Solution

A prospect may understand the solution you present with clear logic, but if they aren’t emotionally connected to it, they are less likely to see its value for them.

To ensure that your presentation has the proper “punch,” tie products and solutions to the prospect’s end goal—what they truly hope to achieve. Deferred growth or tax-advantaged wealth transfer is great, but what does that mean at the end of the day? How does that fit with what the client is really trying to achieve?

They’re Overwhelmed

Even simple product solutions can have complex components. Think about how something like a fixed indexed annuity—relatively simple in concept—can be broken down into many different pieces. Even if the consumer understands the individual components, it can be difficult for them to see how the pieces fit together. This is especially true if you are dealing with multiple planning objectives that intertwine.

Avoid overwhelming the consumer using some of the tips discussed in the previous two points. Check for knowledge, use concept sheets, draw illustrative diagrams or maps, and highlight the key benefits. Bring everything back to larger picture.

They’re In The Infancy Of Their Planning Process

Someone who is early in their income-earning phase may not be ready for long-range solutions. Younger consumers may not see the value of retirement planning, when retirement can seem so far off for them. Likewise, older clients may be in the early stages of retirement planning and are not ready to commit to a particular solution.

Highlight the importance of planning early and identify solutions that match with their current lifestyle goals.

They’re Not Confident In Your Solution

There are many different reasons why a consumer may lack confidence in your solution. They may have a key misunderstanding about how it works (if so, see previous points above). They may not trust you as a financial professional. They may have a bias against certain types of solutions based on anecdotal information or news articles.

If the consumer seems to be suspicious of the solution, simply ask them why. Respond using facts and deconstruct the steps to illustrate how this is the best way to accomplish their financial goals. Explore other solutions they feel more confident in.

You Don’t Have The Decision-Maker In The Room

You’ve undoubtedly experienced this situation before: you present a good solution to a consumer. The appointment goes great; you are charming and the consumer indicates they understand clearly the information you’ve given them. Then they say, I’ll have to check with my wife or husband.

This is why many advisors try to involve key family members in the planning process as much as possible. By doing this, you increase the chances you are able to speak to the decision-maker. The rest of the family gets to know and trust you, reducing the likelihood of issues down the line. A family that knows and trusts you can then become a whole generation of clients, with a variety of planning needs.

They Don’t Feel Like You Care

A knowledgeable financial expert is worthless to a consumer if they feel like the advisor doesn’t care or doesn’t have their best interest in mind. Remember that financial and retirement planning very often involves high personal stakes for consumers. To them it’s how they will survive in retirement or pass on a legacy. Do not take the privilege of handling their money lightly.

As you engage with the consumer, demonstrate empathy and clearly listen.

Client Feels Like They Are Being Sold

“Nobody wants to be sold, but everybody wants to buy,” goes the old sales cliché. There’s some truth to this and if you are too eager to sell without drawing on the other things that aid your presentation—such as ensuring the consumer understands the solution, emotionally connecting the solution to their goals, and demonstrating empathy—you will sour the appointment.

Sales is always a part of any recommendation and most consumers implicitly understand this. Amplify the sales aspect of the appointment only in key moments, using the rest of the time to connect with the consumer and provide good information.

You Fail To Understand What Is Truly Important To the Client

A consumer can give you a no if you overlook or ignore what truly matters to them. If they state they don’t want to deal with life insurance and you present a life insurance solution without addressing their previously stated objections first, they will feel like you are not listening to them. If the solution doesn’t satisfy their key objective, then they are likely to distrust you, even if the solution you present has great benefits.
As you engage with the consumer during the appointment, make sure to take good notes, ask probing questions, and tie everything to the consumer’s stated goals.

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Marketing Corner – 9 Tips To A More Productive 2017

9 Tips For A More Productive 2017

Advisors—even very successful ones—typically experience two periods of downturn throughout the calendar year. The first period usually occurs during the summer months. The second often occurs toward the end of the year. With clients and prospects busy with the holidays, there’s often a drop in activity and many advisors take this chance to enjoy some downtime.

But this second period is a great opportunity for you to evaluate your year and plan for the next. To prime advisors for success in 2017, Legacy Financial Partners has developed our New Year Revitalization Guide. This complimentary guide has 9 actionable items that help you to properly evaluate your current year and create an effective marketing plan.

Request Your Copy Today Online or Call 1-877-614-0141!

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Marketing Corner – Thanksgiving

Marketing Corner – Wednesday November 23rd, 2016

Legacy Financial Partners Is Thankful For You

As we head into Thanksgiving this week, Legacy Financial Partners would like to extend a big ‘thank you’ to our audience for following us. Since we initiated the Marketing Corner column over two years ago, we’ve had the pleasure of speaking with many different agents from all over the country who found our articles helpful. It is certainly affirming that our quick tips, yellow-pad concepts, and guides are reaching and helping advisors both near and far. This is why we do it folks.

So to you and yours, we hope that you have a safe, happy holiday. Legacy Financial Partners will be closed Thursday, November 24th and Friday, November 25th for the Thanksgiving holiday. As you enjoy turkey, football, and family over the long weekend, take a gander at some of our most popular posts from this year. We’ll see you next week with more great tips.

Once again–Thank you,


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  • Although LTCI Awareness Month is nearly over, LTCI opportunities are year round. Request our free LTCI kit [] and check out these key long-term care stats.
  • Many advisors ramp-down toward the end of the year. However, there are numerous ways you can finish the year strong. []
  • A personal touch is important to an advisor’s success, even as we move to digital platforms. Find out six easy ways to be more personal in your practice. []
  • How prepared are you for the next two generations of clients? Learn key information about marketing to Generation X and Millennials.
  • Seminars and workshops still remain a great way for advisors to market themselves. If you currently run seminars, or have been thinking about using this marketing activity, check out six best practices for running a successful workshop. []

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Marketing Corner – Tuesday November 15th, 2016

Long-Term Care Insurance Awareness Month Sales Kit

ltcbedsideNovember is Long-Term Care Insurance Awareness Month. This is a great opportunity to discuss how LTCI coverage can fit within your clients’ and prospects’ retirement portfolios. With longer life expectancies, the need for long-term care has increased and many consumers don’t consider the impact LTC can have on their retirement.

The impact is not just physical–the costs associated with a long-term care condition can be quite expensive, eroding significant portions of retirement income. Genworth’s 2016 LTC survey found that the monthly national median for care in an assisted living facility is $3,628, for a home health aide, $3,861, and for nursing home care in a semi-private room, $6,844. Based on these numbers, a year’s worth of semi-private nursing home care could be $82,128.

These numbers are only estimated to rise, with Genworth estimating that in 2026 (just ten years from now) the monthly national median for nursing home care in a semi-private room increasing to $9,198—or $110,376 per year.

longtermcare3nurseWhen you consider that the average amount families age 56-61 have saved for retirement is $163,557, you can see how a long-term care condition, even a short one, can take a huge bite out of a consumer’s retirement portfolio.
So use the rest of November to have LTC conversations with prospects and clients. To assist agents and advisors in this endeavor, Legacy Financial Partners has created an exclusive LTCI Sales kit that includes:

  • LTCI Pre-Approach Letters
  • Key Long-Term Care Statistics
  • LTCI Client Presentations
  • LCTI Concept Sheets

Fill out the form or call 1.877.614.0141 to request your complimentary copy.

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Marketing Corner – Don’t Give Up On The Year

Marketing Corner – Thursday, November 3rd, 2016

Don’t Give Up On The Year 

holidayMany advisors view the end of the year as a dormant period, a time to wind down. The reality is that the final two months of year present many great opportunities for clearing more production, earning new clients, and gaining visibility with in your community. Here are ways agents and advisors can finish this year strong and be primed for success in the next.

Holiday Marketing

One of the main reasons advisors ease off toward the end of the year is because the period is loaded with holidays. This means that prospects and clients are likely focused on family and travel, rather than their big picture financial concerns. Advisors themselves may enjoy the ability to comfortably wind down, spend time with family, and reset for the new year. But this period presents several opportunities for marketing.

Now, you may know that a holiday—especially a big one like Christmas—is a great reason to touch base with you clients and prospects. Generally advisors will issue Christmas greeting cards to their existing clients and perhaps even to targeted prospects. It’s a nice way to keep your name in front of consumers and to show your current book of clients how much you appreciate them.

However, overlooked is Thanksgiving. This is arguably as relevant of a holiday as Christmas and presents another great opportunity to reach out to your target market. Plus, since not many advisors use Thanksgiving for holiday marketing, you will have a better shot of having your message stand out.

So what kinds of marketing should you do?

You may elect to do a simple holiday greeting card or you could incorporate the holiday into a marketing push around a specific program or service. (“Be Thankful for Lifetime Protection and Accessible Cash Value with our Life Insurance Solutions”). However you do it, be sincere, respectful, and professional with your holiday marketing.

Employ Pull Marketing

employeepullPerhaps you draw a lot of your business from seminars and presentations throughout the year. Many of the advisors and agents we work with run successful seminar programs. In our digitally driven world, seminars can still be very effective. However, at the end of the year, this style of marketing can be challenging. Since the last two months are busy for everyone, you might not see your usual attendance numbers and end up spending time and effort on busted seminars.

Here is where digital pull marketing solutions can work to draw consumers to you and help make up lost opportunities. Pull marketing generally refers to non-intrusive methods that work to draw consumers who have an interest in your services. This often includes SEO (search engine optimization), PPC (pay-per-click campaigns) and other digitals means of marketing. While a good marketing plan is going to incorporate many different platforms and methods, focusing on pull marketing can help overcome the challenges at the end of the year with push marketing. While pull marketing may not bring the same number of leads as a good seminar, it is not as time-involved and relatively inexpensive. It also identifies consumers who are actively seeking financial services help.

Use End of Year Tax Concerns to Target New Business

Toward the end of the year, consumers–especially high-earners and business owners–may have specific concerns about their tax liabilities. Some may be actively looking for ways to reduce their overall tax bill and some may be unaware of solutions for minimization. November and December present last chances to make choices that will have a positive impact for the year come tax time. These opportunities will vary depending on the consumer’s unique situation, but they are opportunities nonetheless. Beyond looking at deductions and credits, many of these beneficial tax arrangements may involve financial products like life insurance, annuities, and retirement accounts.

Incorporate Programs That Use Real-Time Leads

To squeeze the most out of the end of the year, you may want to consider using a real-time lead generation program to boost your production opportunities. Legacy Financial Partners currently has a new enhanced real-time lead program available to our clients. Like pull marketing, real-time lead programs deal with consumers who have shown an interest in relevant topics and positions them to you. However, in the case of real-time lead generation, these consumers may be vetted, qualified, or further enhanced through an intermediate specialist lead-gen affiliate.

Engage With Your Community

communityWhile business can slow down in the final months of the year, there are many ways for you to interact with your community. Consider allotting a marketing budget and sponsor fall activities. While you might not reap direct clients from this, you will help to build your brand and stay in front of consumers during a down period. This can plant the seeds of business you harvest in the next year.

For more tips on community engagement, see our post, Five Best Practices For Community Engagement.
Create A Marketing Plan For Next Year

Even if you are content with your level of production, the final two months of the year still offer you key chances for improvement. Evaluate how well you did for the previous year and carefully consider what you would like to (or need to) accomplish next year. Many practices operate without a well-defined marketing plan or are diverted by daily operation tasks. Use the end of the year to work with your team and create a marketing plan that has clearly defined and actionable goals. For more on how to create an insurance marketing plan see our previous post, Your Insurance Marketing Plan.

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Marketing Corner – Key Stats For Long-Term Care Insurance Awareness Month

Marketing Corner – Key Stats For Long-Term Care Insurance Awareness Month

Don’t Miss LTC Insurance Awareness Month Opportunities

longtermcare3November is Long-Term Care Insurance Awareness Month. This is a great opportunity to discuss the important benefits of a LTC policy and your chance to drum up more business as we head toward the slow end of the year. Between carriers, brokerages, and industry organizations, you have a wealth of resources available to help your LTC prospecting efforts, so don’t sleep on this opportunity. As part of our LTC Awareness Month coverage, this week for Marketing Corner, we are presenting statistics and information that demonstrate the value of owning a long-term care policy.

According to, in 2010 the average cost of a semi-private room in a nursing home was $6235 per month, care in an assisted living facility was $3,293 per month, and $21 per hour for a home health aide.

Genworth, in a study conducted with CareScout of April of 2016 finds that the national medians for monthly care have risen since the government stats of 2010. For instance:

  • care in an assisted living facility is $3,628
  • care in a semi-private room is $6,844.

Consumers underestimate the cost of home healthcare by nearly fifty percent.

longtermcare1A recent research brief conducted by the Center for Retirement Research at Boston College found that 58% of women used nursing home care at age 65 or after. For men, the percentage was 44%. estimates 70% of those turning 65 can expect to need some form of long-term care.

According to a Government Accountability Office analysis, the average Americans aged 55-64 have only $104,000 put away for retirement. This figure seems to include only those who have something saved (via Investopedia).

Related to the stat above, nearly 41% of those approaching retirement age have nothing saved for retirement. The Motely Fool points out that this group may have assets such as a pension or home that can be used for retirement income. This group will also have Social Security as a resource.

healthcarecostsWhen you factor the high-cost for long-term care, both groups face a significant financial risk. Those who have little or nothing saved face an obvious hardship. But using Genworth’s numbers, the average retirement savings (based on the GAO figures) will only get you about 28 1/2 months in an assisted living facility and a little over 15 months care in a semi-private room. While the duration of long-term care will vary—with some only needing a few months and some needing a few years—if the only source to pay for these long-term care expenses is an accumulated retirement account, the individual recovers with a diminished retirement. That is, if they had, retirement resources to begin with.

An analysis of the Dept. of Health and Human Services 2014 Survey of Long-Term Care Awareness and Planning found that 66.4% of participants acknowledged that having “some LTC insurance will give me peace of mind.” However, almost half stated they have competing priorities for the their money.


What’s the takeaway from these stats? That many consumers are greatly under-prepared for longer retirements and a potential LTC situation. This is why it is important to discuss LTC with your clients as appropriate. Thankfully, with the variety of modern products and strategies that now exist, LTC can often be incorporated to other solutions, i.e. LTC riders and hybrid policies. Long-term care is important in retirement planning for two reasons: the medical care and quality of life it can provide and the asset buffer it provides to other hard-earned retirement resources.

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Marketing Corner – The Effects of Black Monday Are Still With Us.

Marketing Corner – Thursday October 20th, 2016

The Effects of Black Monday Are Still With Us

600px-black_monday_dow_jones-svgOctober 19th, 1987. A day in which the Dow Jones Industrial Average dropped a staggering 508 points, representing a record percentage loss (a record that still stands today). A day preceded by mini-crashes and an all-time high just two months prior. A day that is known as Black Monday.

Yesterday was the 29th anniversary of the Black Monday crash. While there are many factors that led to this event, the effects of Black Monday still linger, even with the economic volatility we’ve experienced in the intervening 29 years.

As markets tanked in 1987, consumers pulled out of exposed investments and transferred their money into Certificates of Deposits.

Hence October and April are now CD replacement months, with six-month and twelve-month CDs up for renewal. For some consumers, CDs can seem like a great option for their money—certainly they did in 1987. With guaranteed interest rates and FDIC backing, CDs seem like a relatively sturdy ship to navigate the sometimes choppy waters of the market.

However, because of their low interest rates, CDs do not hedge against inflation well, when compared to other products, like certain annuities. This is especially true with long-range CDs that many consumers automatically renew out of habit. This means that some consumers may be losing real-world value that could be parlayed into another solution that works better against inflation and could provide lifetime income.

Obviously every consumer presents a different situation. For some, CDs may track well with their needs. Others may not even be aware that there are other options. However, what this means is that April and October are good opportunities for review, discussion, and product sales.

To help advisors and agents take advantage of CD replacement opportunities, Legacy Financial Partners has prepared an exclusive sales kit that includes:

• Taxable Equivalent Yield Chart
• CD vs. Annuity Comparison Chart
• Split Annuity CD Beater Strategy
• CD vs. FIA Sales Strategy
• CD Prospecting Letter
• Customizable Fact Finder
• Retirement Pitfalls Presentation
• Going Broke Safely Presentation

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Marketing Corner – 5 Body Language Tips for Keeping a Prospect Interested

Marketing Corner – Thursday October 13th, 2016

5 Body Language Tips for Keeping a Prospect Interested

Body language and non-verbal communication is as important to landing a sale as the persuasive string of words you issue to a prospect. Last week we discussed seven redflags that indicate you are losing your prospect and this week we wanted to discuss key body language tips that advisors should know. While many of these may seem common sense, it’s important to reiterate their simple power.

eyecontactBalance Eye Contact

Eye contact is a signal that you are speaking directly to the prospect or listening closely to the information they are providing. However, too much eye contact can be as bad as too little. This is because the connection can become forced, awkward, and unnatural. Many sales people are taught the importance of eye contact, however, many take this to an extreme. The better approach is to make deliberate eye contact to emphasize or underscore key points.

Balance Gestures

Gestures can be used to physically draw a prospect’s attention into the points you are making. Most people gesture without really thinking too much about it; hands rise when discussing positive movements, hands lower when discussing decreases, etc. Gestures are often used for emphasis or to break up long periods of speaking. As with eye contact, it’s best to have a natural balance. Too many gestures, and you’ll distract the prospect and come across as hesitant. Too little, and your points are denied opportunities for emphasis and you’ll come across as stiff.

positiveKeep Your Body Open, Facing The Prospect As Much As Possible

A hunched-over or closed off posture can signal many things, such as rejection, coldness, or disinterest. Likewise turning away from the prospect, even turning your back for a moment, can take them out of the spell of the appointment.

Maintain a Positive Posture Without Being Intimidating or Too Confident

What’s a positive posture? For advisors with different personalities and presentation styles this will vary. But generally a strong posture will be straight, a little loose, and comfortable. The idea is to project confidence without looming or being too dominant. Confident people sell confidently, but confidence, like eye contact, can be hammered too hard. The trick is to present yourself comfortable, assured, and friendly. You already own your space—you don’t need to assert your power.

nervousDon’t Fiddle

We all do it, even when we aren’t bored or disinterested. But fiddling, like swirling a pen around or playing with a piece of paper, can come across as dismissive and unsympathetic, especially if your audience is a pre-retiree discussing their retirement fears. Likewise, if you are presenting information, fiddling can severely undercut the power of your message.

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Marketing Corner – 7 Non-Verbal Redflags You’re Losing Your Prospect

7 Non-Verbal Redflags You’re Losing Your Prospect

Non-verbal cues like body language, eye-contact, posture, rhythm, and gestures can all signal—despite conscious efforts—how someone really feels about what you are telling them. For an agent giving a presentation that may involve breaking down complex concepts, selling certain solutions, or driving home a key piece of financial education, paying attention to these non-verbal signals can be crucial to converting a prospect into a client. Remember that people generally like to avoid conflict, so they may not tell you why something isn’t resonating with them.

Here are seven non-verbal signs that you are losing your prospect:

They lean back

Generally someone interested in what you are telling him or her will lean forward. This a signal that what is being said is relevant to them, or they want to pay special attention to not miss any words. If a prospect is leaning back in their chair, that’s a pretty big signal they have already made up their mind.

avoideyecontactThey look around the room

It’s natural for someone to look at figurative space when thinking of a response to a question or trying to detail something important to them that may have several components. But if your prospect begins to look around the room, either with their eyes or full swivels of their head, this may indicate that you have lost their interest.

They avoid eye-contact

A prospect doesn’t have to look around the room to avoid contact with you. They may face toward you, but look past you—focusing on what’s behind you.

They have their arms crossed

Crossed arms can signal protection and a closed-offed mindset. While some people may cross their arms just to have something to do with their arms for a bit, a long-duration of crossed arms is definitively a signal you want pay attention to.

facetoughThey cover their mouth/face

A prospect may cover their mouth or face for a couple of reasons. One could be to hide their facial expressions in response to your presentation. Another reason could be because of nervousness or discomfort with the information you are telling them.

They twitch or fiddle

Some people certainly twitch, fiddle, or tap their fingers as way to release tension as they intake information. In many instances, having a release like this helps prospects to dissipate the physical discomfort of a long sit-down meeting, so they more closely focus on you. But often fidgeting, tapping, or playing with a pen, signals disinterest or a lack of focus. The information may be too overwhelming, or your information isn’t resonating, or they made up their mind before they even entered your office.

They focus too much on you

To humor you or to be polite, a disinterred prospect may over-amplify positive signals. They may maintain unnatural eye-contact, nod repetitively, keep their arms forcefully open, issue too many “mmmhmms,” or withhold fidgets.

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Marketing Corner – CD Replacement

Wednesday September 28th, 2016

A Brief History of CD Replacement Months

October and April are traditionally known as CD replacement months. As an advisor, you might accept this simply as a way to gather new clients by presenting CD alternatives. But the history behind CD replacement months points to an interesting way certain things reverberate throughout the years–how an incident thirty years ago can still have lingering effects for today’s consumers.

In the short presentation above, we discuss how October became a CD replacement month. To help advisors and agents take advantage of CD replacement opportunities, Legacy Financial Partners has prepared an exclusive sales kit that includes:

  • Taxable Equivalent Yield Chart
  • CD vs. Annuity Comparison Chart
  • Split Annuity CD Beater Strategy
  • CD vs. FIA Sales Strategy
  • CD Prospecting Letter
  • Customizable Fact Finder
  • Retirement Pitfalls Presentation
  • Going Broke Safely Presentation

Complimentary 2016 CD Replacement Month Marketing Kit

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