BSMG Blog: Protecting the Future of Families and Businesses

Tactics Successful Financial Advisors Use to Motivate the Sale

Think back to a time when you purchased a product or service, and left with a sense of fulfillment from that purchase. Perhaps you left with a feeling of comradery with the seller. The transaction may not have felt like a typical sale. This is the feeling that a good salesperson creates. They engage with the client to form a collaborative environment, a trustworthy rapport and positions the product or service to fit your needs. We broke down the attributes that come into play when financial advisors prospect buyer motivations and how they become experts in relationship building. 

Set the groundwork. To understand your client's motivations and triggers you must ask the right questions and listen to their responses. This back and forth will provide you with insight into your client's buying personality and will help dictate your sales approach. Buyers aren't all created equally. They require different approaches, Dan Seidman, sales trainer and author of The Ultimate Guide to Sales Training and The Secret Language of Influence, speaks about two types of buyer personalities: The Pain and The Gain Motivators in InsuranceNewsNet Magazine. Knowing which personality aligns with your client will help build a stronger relationship and save you time in closing the sale. What is a pain-based buyer versus a gain-based buyer?

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Top 5 Prospecting Mistakes Successful Advisors Don't Make & How You Can Avoid Them

As we begin the new year, many advisors are thinking about ways to grow their business in 2017. One proven successful way to do this is through prospecting sales. However, not all strategies are proven equal nor successful. To help you form the best prospecting strategy to add to your arsenal of tools here are the top 5 mistakes that advisors make when prospecting and how you can avoid them.

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New Years Resolutions for Your Clients: Financial Health

We don't know about you, but it seems like 2016 flew by, and just like that the holidays are behind us and we're settling into a new year! If you've picked up any magazines or logged into a social media account in the last few days, you've no doubt been bombarded with all things New Year's resolutions. Most likely they're focused around a "new year, new you" and your mind wanders to eating more salads or heading to the gym. Resolutions are generally geared towards health and steered in the direction of maintaining a healthy body and/or mind, but what about financial health? Finances are a resolution for about 33% of Americans, but it can be hard to know where to start. We've compiled a list of resolutions for you to share with your clients this year as a way to help them get into top financial shape!

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“Survivor Survivorship” Section 1035 Exchanges

During the 1990s and early 2000s, billions of dollars of survivorship life insurance was sold.  This type of insurance provided a low present value cost and a very competitive internal rate of return (IRR) on death benefit out to joint life expectancy.  The primary need for this insurance was to offset federal estate taxes so the estate owners could leave a larger inheritance to their heirs. 

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Target Your Clients Needs with the Right Permanent Insurance

Clients come in all different forms with different goals and priorities in mind. So your approach with your clients should not be one size fits all. As a financial advisor, you may need to be a detective to learn about your clients true behavioral habits. Ask yourself if they are conservative, balanced or aggressive investors? Ask your clients the questions below to arm yourself with the information you need to set them up with the perfect permanent insurance policy.

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5 Things Financial Advisors Should be Doing to Ensure a Successful 2017

2016 will soon be in our rear view mirror. Believe it or not, there are only 5 more Fridays until New Years Eve! As the weeks breeze by, we find ourselves gearing up for 2017 and there's no better way to guarantee success than preparation! Get a jump start on your New Years' resolutions and start planning now. We have compiled a list of 5 things you should be doing to set your practice up for success!

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Advanced Sales: The Need for Life Insurance Other Than to Pay Estate Taxes

An experienced financial professional should keep their clients informed of the many different roles life insurance can play to meet financial, retirement, and protection needs.  The American Taxpayer Relief Act of 2012 (ATRA) permanently increased the federal estate tax exemption.  This increased and indexed exemption may reduce and possibly eliminate the need for life insurance to pay estate taxes on a case by case basis.

The 2016 federal exemption is now indexed to $5,450,000 for an individual and $10,900,000 for a married couple.  The federal estate tax rate is a flat 40% for taxable estates above the exemption amount.  Many clients who may have been exposed to federal estate taxes in the past may no longer need to worry about federal estate taxes in the future because of this very high exemption.  Very, very few individuals and couples have a net worth in excess of these federal exemption amounts.  Only the super-wealthy still face the daunting task of paying federal estate taxes.

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Top 5 Misconceptions of Social Media

Do you have an account on LinkedIn, Facebook or Twitter? If not, why? Having an online presence allows you to grow your client base and brand. While we know that most professionals see the value in being active on social media, we also know there are still some lingering misconceptions out there. We've taken the liberty to compile the top 5 misconceptions and debunk them for you. Even if you are on social media, you should still read this to ensure you're using the platforms to their full abilities. Throw out the excuses and start growing your business!

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Top 5 Mistakes Financial Advisors Make With Social Media for Business

Professional online networks and social media have come a long way in the past 10 years. With 455 million users currently on LinkedIn and 2 new members per second, if you are not connected you are missing out on potential customers.

The truth is, these networks are here to stay and are only going to get bigger. LinkedIn, Twitter, Facebook and many other sites are being used professionally to grow businesses and attract more customers. So we’ve compiled the top 5 mistakes financial professionals make when it comes to using social media in business. Make sure to avoid them!

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5 Reasons Clients Should Consider Fixed Annuities


Market Volatility, Bond Market Risk, Low Interest Rates, Portfolio Depletion and Unpredictability.

These are the main reasons clients are skeptical of Annuities. So how can you, the advisor or financial professional, turn the negative into a positive for your clients.


Since 2000, consumers have borne witness to the S&P 500® Index dropping approximately 50%, two times.1 The volatility in 2008 was unlike anything ever recorded with the Volatility Index (VIX), often referred to as the “investor fear gauge,” reaching 89.53 in October, a number representing a quadrupled expectation of market volatility.2

At the same time, interest rates, as measured by the 10-year Treasury bond yield, have continued their three-decade decline since a peak of almost 16% in 1981.3 As of May 1st 2015 the 10-year treasury was 2.12%.4 Additionally, the current average rate on a five-year jumbo certificate of deposit (CD) is 0.93%.5

The Power of Annuities in a Retirement Strategy: Download Your Copy

The timing of this mixture of volatility and low rates could not be worse. The 78 million-strong baby boomer population began hitting age 65 in 2011, and will continue to do so for the next 15 years, to the tune of almost 10,000 per day.6

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