5 Guidelines for a Successful Section 1035 Exchange
BSMG
Advanced Markets
No Comments
12 Jan 2016
What Financial Advisors Need to Know
Read MoreWhat To Do With An ILIT When the Estate Is No Longer Taxable
Russell E. Towers JD, CLU, ChFC
Advanced Markets,
ILITs
2 Comments
21 Oct 2015
Since the federal estate tax exemption is $5.43 million (single) and $10.86 million (married), does paying premiums for life insurance owned by an Irrevocable Life Insurance Trust (ILIT) that was purchased years ago when the estate tax exemption was much lower make sense anymore?
Are there other important retirement and protection needs that could be covered with the annual premium that has been gifted to the ILIT for many years?
A current no-lapse single-life universal life (UL) policy or no-lapse survivorship universal life (SUL) policy may still provide a good internal rate of return (IRR) on death benefit at life expectancy. And the pre-tax equivalent is even better because the life insurance death benefit is income tax-free. However, the federal estate tax exemption may have only been between $1,000,000 and $2,000,000 when the trust-owned policy was purchased and it made sense at the time to offset projected estate taxes with estate tax-free insurance owned by the ILIT.
7 Lessons to Attract and Retain Female Clients
BSMG
Sales & Prospecting Tools for Advisors
No Comments
7 Apr 2015
Women today are working more, earning more and taking an increasing role in their family’s financial planning. For advisors, a focus on women - with a understanding of their needs, and a willingness to approach financial planning in a way that works for them - can result in a solid client base.
In general, women are loyal. If they’re satisfied with their advisor relationship, they’ll be more than willing to provide referrals. In fact, recent surveys have revealed that more women look to a financial professional for advice before family and friends or even a spouse or partner. The same surves publicized that nine out of every ten of the women who participated took positive steps after receiving advice. These steps included making changes in their spending habits, increasing the amount they save each month and setting up an emergency fund.
Looking for a way to tap into this potential? Here are seven lessons for serving your female customers.
Read MoreFinancial Advisor Prospecting - 7 questions to help you acquire new clients.
BSMG
Retirement,
Advisor Marketing Tips
No Comments
10 Mar 2015
In today’s ultra-competitive financial planning marketplace, it takes more than a passion for cold calling and a pristine reputation for financial advisors to acquire new clients.
Now more than ever before, Americans are pressed for time and have problems that need solving. In fact, it’s a safe bet that most of your prospects are facing critical life events for the first time and need your help.The tough part is... they might not even know it yet. It’s your job to spark interest with your prospects and get them to see that the grass is in fact greener on your side.
When we work with advisors at the POS we have found that these questions help open the eyes of potential clients to their need for planning and protection.
(1) Do you currently have a financial advisor?
It’s a simple fact; educated consumers who do more than just save their money get ahead, while the others don’t. If your prospect answers "no" to this question, you should be well-equipped to school them on the benefits (some great talking points here in this video) of enlisting the help of a professional. If they answer in the affirmative, you may have more work to do.
(2) Do you currently have a financial plan?