Tuesday Tips – December 27th, 2016


LFP Holiday Schedule

Legacy Financial Partners will be closed Friday 12/30 in observance of the New Years Holiday.

American Equity Commission Change

American Equity has announced effective January 3, 2017 it will be reducing the commission on the Foundation Gold FIA by .30bps.  No other changes are being made.  Applications must be in house by 1 cst on 12/30 to receive the old commission payouts.

Sales Concept

Year End Offer

Legacy Financial Partners is making the New Year Revitalization Guide and Informed Advisor Sales Guide available for download.  Both guides provide great information to help make 2017 your best year yet.

Industry News

Prudential Suspends Wells Fargo Sales

Prudential has suspended sales of its insurance policies through Wells Fargo sales channels.  This follows the sales practices scandal that hit Wells Fargo earlier this year.

Hot Rates

American Equity Traditions Gold

The Traditions Gold product by American Equity is a competitive 10 year FIA designed for accumulation.  The product has multiple index option including an annual point to point cap of 4.5% and a fixed rate of 2.15%.  The product also has an optional income rider.  Call today for additional details and state availability.

Sales Opportunity Downloads

Tuesday Tips – December 20th, 2016


LFP Holiday Schedule

Legacy Financial Partners will be closed Friday 12/23 and Monday 12/26 in observance of the Christmas holiday.

Equitrust Raises Rates

Equitrust has raised rates on all of their FIA products.  Increases range from .15bps-.50bps depending on product and crediting method.  Call today for an updated rate sheet.

Sales Concept

The Right Retirement Plan

Most business owners started a business because they were passionate about an idea.  What happens for some business owners is that the idea takes off and their idea grows into a business.  While a business owner might be knowledgeable about their business, they probably aren’t that knowledgeable about the various retirement plans available to them.  Available for download is a simple, straightforward, flow chart that can be used with a business owner client to explain the various options available to them and the pros and cons of these options.

Industry News

Fed Raises Rates

The Fed announced last week that they would be increasing the fed rate by .25%.  The Fed last raised rates in December of 2015.  In addition to this the Fed signaled that it would more than likely raise rates more quickly in 2017.

Hot Rates

Equitrust MarketBooster FIA

The MarketBooster FIA by Equitrust is a 9 year product with competitive upside potential.  The product offers a 7% premium bonus and an annual point to point cap of 3.5% along with four additional allocation options.  In addition to this it offers an option income rider and a nursing home waiver.  Call today for additional details and state availability.

Sales Concept Download

Marketing Corner – 3 Ways To Reach Across Generations

Marketing Corner – Thursday December 15th, 2016

3 Ways To Reach Across Generations

Advisors focus much effort on prospecting and marketing to new clients. While you should absolutely maintain a steady stream of new faces, there are several opportunities for you to grow based on the individuals you already work with. Referral sourcing is one way. Another way—and one greatly underexplored—is generational service, that is, retaining assets when a spouse of a client dies and taking on their children as clients when both parents die.

At the death of a spouse, a financial advisor retains the living spouse about 50% of the time. Once the other spouse dies, the advisor retains the assets only 2% of the time. This may seem like a significant challenge to maintaining generational clients, especially with retention up the family tree dropping so severely. However this is still a good opportunity because there are a few very simple and actionable things you can do to increase the likelihood of generational retention.

Know Your Clients (And Their Families) Well

The easiest way to create a lasting relationship with multiple generations of a family is to be an important part of their lives. This is not to say you should invite yourself over to family reunions or holiday gatherings, but learn about your client’s family and demonstrate your interest in their lives, beyond finances. Keep attuned to life events and reach out appropriately.

Create Strong Relationships With Both Spouses

Even in dual income households, there will typically still be one spouse responsible for financial concerns. You will probably spend most of your time with this spouse, especially after you establish a financial plan and are in maintenance mode on that plan. Follow-ups and check-ins will likely route through this spouse. This creates a problem when this individual dies, as you now have a limited relationship with the surviving spouse.

Instead of dealing with one spouse, suggest participation from both spouses and issue communications (calls, emails, follow-up letters) to both parties. Make sure the secondary spouse feels included throughout the whole financial process, eliciting responses and opinions from them. Certainly couples do not always agree about money, but with your knowledge, care, and expertise, you can also act as mediator between disagreements. Remember that you are helping them to achieve their financial goals.

Likewise, if there are legacy planning concerns, include the adult children so that they know who you are and what their parent’s wishes are for the assets. This will not only clarify what the assets are, it will serve to mitigate any infighting between the children once the estate is divvied up. Plus the adult children have been introduced to someone their parents trusted with their financial planning and thus are more likely to entrust you with product solutions once the assets are transferred to them.

Retain the Next Generation

The next generation down from your boomer clients will probably fit within the Gen Y/Millennial demographic. You might assume that this generation has different priorities regarding finance and quality of life. However, by and large, they want much of what the previous generation wanted. Millennials, saddled with student debt and faced with a volatile economy, are concerned with financial plans and retirement resources, which for you presents a great opportunity, especially if you already have a family relationship with them.

Although the next generation down values the core aspects of retirement planning (or at least worries about retirement), Millennials do have different communication styles and unique experiences that shape their behaviors and attitudes. This generation is very digitally savvy and appreciates more informal or semi-formal interactions.

So while succeeding with the adult children of your boomer clients may require an adjustment in presentation and communication style, their financial needs and wants are roughly the same as their parents.

Ultimately retaining several generations of a family comes down to you doing what you do best: having great interactions (with the whole family), providing excellent service and solutions, and attuning yourself the unique client you are dealing with.

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Tuesday Tips – December 13th, 2016


Metlife Sunsetting Products

Metlife has announced that they will be sunsetting the majority of their life insurance product portfolio effective February 3, 2017. After that point Brighthouse Financial will continue to offer the Premier Accumulator Universal Life product, level term for face amounts of $1mm and up, and one year renewable term. Call today for additional details.

California SB 924

The state of California has passed SB 924 which requires changes to be made to the surrender charge schedule as well as issue ages for certain FIA products. The rule goes in force January 1, 2017. Call us today to get an update on what products are changing and what products are being pulled.

Sales Concept

FIA Prospecting Email

Not every prospect is ready to move forward with the purchase of a FIA immediately. Likewise you might have a prospect that is interested in some other product such as life insurance or LTC but, you feel that a FIA could be another important planning tool for the prospect. A well crafted email or message can help to prime the pump to start the FIA discussion. Available for download are prospecting emails that can be used with a prospect or existing client to start the FIA conversation.

Industry News

Athene IPO

On Friday Athene Holding became a public company. The stock symbol is ATH and Athene’s IPO is the third largest of 2016. The initial offering raised $1.1 billion from 27mm class A shares.

Hot Rates

Protective Advantage Choice UL

Protective offers an incredibly competitively priced GUL. In addition to this the product allows you to dial the death benefit guarantee and gives you the option to decide how the death benefit pays out. In addition to this the products offers the Extendcare rider which will advance the death benefit in the event of a LTC event. The policy also pays itself up if the rider is triggered resulting in no more premium payments. Call today for additional details.

Sales Concept Downloads

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.

Complimentary New Year Revitalization Guide

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Tuesday Tips – December 6th, 2016


LSW Raising Rates

Effective December 1st LSW has raised rates on several of their FIA products. Rates increases ranged from .25bps-.50bps. Call today for additional details.

Columbus Life Rate Decrease

Columbus Life has announced that effective January 1, 2017 they will be dropping credited interest rates on all new UL sales by .10bps. In addition to this they are implementing a rate decrease of .20bps for several in force blocks of business. Call today for additional details.

Sales Concept

Pricing Anomaly

We have recently discovered a pricing anomaly on one of our guaranteed death benefit products. In 10 pay scenarios the product is offered by an A+ insurance carrier and is dramatically cheaper than any other GUL under this funding structure. In addition to this the product has high targets and cash value. Call today for additional details.

Industry News

Per Diem Limitations

The IRS has recently announced upcoming changes to the 2017 per diem limitation on payments for chronic illness riders. The current limit is $340.00/day. The per diem limit for 2017 will be raised to $360.00/day. This means clients that own a life insurance policy will be able to access more tax advantaged cash in the event of an LTC scenario.

Hot Rates

Athene Ascent Pro

For clients looking for short term products with high upside potential the Athene Ascent Pro 5 & 7 can be a great fit. The 5 and 7 year products offer annual pt to pt caps of 3.5% and 4% respectively. In addition to this they offer monthly pt to pt caps as high as 1.75% and an uncapped par rate strategy at 95%. Call today for details and state availability.

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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!

Complimentary  New Year Revitalization Guide

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Tuesday Tips – November 29th, 2016


LibertyMark Rate Change

Legacy Marketing Group has announced a rate decrease for the LibertyMark product series. The rate change goes into effect December 8th and applications must be in house by Wednesday December 7th. Call today for an updated rate sheet.

Great American Rate Increase

Great American has recently increased rates on multiple products. They are now offering caps as high as 7% and participation rate strategies as high as 60%. Call today for additional details.

Sales Concept

Your Marketing Plan

As we get to the end of 2016 now is the time to reflect on the year and evaluate what went well and what didn’t. Even more important is identifying what your 2017 strategy will be. Call today to have a custom marketing plan developed for you.

Industry News

Retirement Savings

According to a recent survey by the Employee Benefit Research group 22% of workers are very confident they will have enough money for retirement. On the other hand 64% of workers say they know they are behind where they should be with their retirement savings.

Hot Rates

F&G Guarantee Platinum 5

The F&G rate special on the Guarantee Platinum 5 begins today. For a limited time F&G is offering a 3.10% rate on their 5 year MYGA. Applications must be electronic and the minimum premium os $20,000.00. Call today for additional details.

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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 [https://legacy-financial-partners.com/marketing-corner-ltci-awareness-sales-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. [https://legacy-financial-partners.com/marketing-corner-dont-give-year/]
  • 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. [https://legacy-financial-partners.com/marketing-corner-six-ways-personal-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. [https://legacy-financial-partners.com/marketing-corner-six-best-practices-running-successful-workshop/]

Complimentary LTC Awareness Month Kit

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Tuesday Tips – November 22nd, 2016


LFP Holiday Schedule

Legacy Financial Partners will be closed Thursday November 24th and Friday November 25th in observance of the Thanksgiving holiday.

F&G MYGA Rate Special

F&G has announced a rate special on their 5 year MYGA. The promotion starts on November 28th and the rate will increase to 3.10%. Applications must be an E application and the minimum premium is $20,000.00 . Call today for additional details.

Sales Concept

Policy Stacking with ROP

Policy stacking using gul products with rop and chronic illness rider can be a great solution for clients that have a higher death benefit need during their working years but think they won’t need as much coverage during retirement. By purchasing 2 policies that equal the death benefit need in retirement the client can trigger their return of premium feature and elect to either take the money and do what they want with it while continuing to pay premiums on their existing plan or take the lump sum and pay up the remaining life insurance policy and eliminate their insurance premiums in retirement. Call today to get a design run on this concept.

Industry News

Voya Sunsetting Products

Voya has announced that effective December 30, 2016 it will be suspending all term products as well as the IUL-GDB product. Voya cited current market conditions including historically low interest rates as the reason for their departure from the term and GDB market.

Hot Rates

Global Atlantic Fast Lane

Global Atlantic offers a competitive suite of term and IUL products. In addition to this they offer their fast lane program for accelerated underwriting up to $1mm of coverage. With the Fast Lane program the client can do a phone interview and potentially avoid having labs drawn. Call today for additional details

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