Leveraging CD Replacement Month

April and October are traditionally known as CD replacement months, a designation that traces back to the October 19, 1987 “Black Monday” stock market crash. Scrambling to protect their assets from the collapsing market, investors found safe harbor in Certificates of Deposit. The story behind CD replacement month (covered in the presentation above) highlights how major economic events can leave an impact still felt nearly 32 years later.

As a financial professional, you’re probably already familiar with this history lesson. The question is, are you putting it to use? CD replacement month is a good occasion to sit down with clients to discuss how CD alternatives might be a better way to achieve their retirement goals. Or maybe you have a client whose situation is more conducive to using CDs as a savings vehicle. Or, an even more likely scenario, you have clients who aren’t fully aware of their options.

The history behind CD replacement month is an opportunity to dig deeper into the client’s needs, goals, and unique situation. Rather than limit the conversation to CDs and CD alternatives, use your probing skills to gain a sense of the client’s financial know-how and educate accordingly.

If the client owns or is interested in a low-interest rate product like CDs, they:

A) are gun shy about putting their money into anything tied to the market; or

B) don’t know that other, more valuable, options out there.

Either way, they’re in your office and ready to talk.

Of course, it’s highly unlikely that they’re going to look at the calendar and think, “Hey, it’s April! I should call my advisor about these CDs.” That would almost be too easy. If you need help planting the seed, we have a wealth of marketing materials designed specifically for that reason.

Our 2019 CD Replacement Kit 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

Did we mention the kit is free? Fill out the form to request yours today.

2019 CD Renewal Kit

About the author

Legacy Financial Partners - Legacy Financial Partners is an independent and full service Life Insurance and Annuity FMO that provides specific marketing solutions to help their clients succeed. Using dynamic tactics, an extensive support network and progressive marketing options, Legacy Financial Partners provides unique and specific development strategies to their business partners.

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