The Biden Administration announced last week the latest Department of Labor (DOL) amended fiduciary rule proposal that, if adopted, would dramatically impact the way independent advisors do business with any qualified money sales. The DOL’s 800-page “Retirement Security Rule” (available here) is allegedly designed to close loopholes in the current “Best Interest” regulations, including as…
Finding and effectively communicating your unique value proposition (UVP) is a vital step towards success. A UVP sets you apart from the crowd and helps potential clients understand why they should choose you as their financial advisor. This should be a succinct statement that defines what makes you, as a financial advisor, different from your…
The more than 66 million Americans who receive Social Security retirement benefits are set to receive a cost-of-living increase next year. The Social Security Administration (SSA) announced this week a 3.2% COLA boost for 2024. This is significantly lower than last year’s 8.7% increase. The increase will see the average monthly benefit check jump by almost $60…
The role of the financial advisor has evolved significantly in recent years. Gone are the days when advisors merely executed transactions on behalf of their clients. Instead, a paradigm shift is underway, with financial professionals now emphasizing holistic financial planning. This transformation is a response to the growing need for comprehensive, client-centric advice that addresses…
When was the last time you explored some fresh marketing strategies? If it’s been a while, you may be missing out on a chance to connect with prospects and clients. Here, IAMS has gathered five ways to educate them on common retirement misconceptions while creating new sales opportunities for your business. Show them all income…
Content marketing is a valuable and effective method of consumer engagement, outpacing the traditional strategies many businesses have come to rely upon. Research has shown the majority of internet users would rather learn about a product or service through content versus traditional (print, TV, radio) advertisements. Chances are, most of you are already engaged in…
In today’s rapidly evolving financial landscape, several factors have emerged that shape the dynamics of the industry. As individuals increasingly seek secure and stable income streams to safeguard their financial futures, annuity products have gained prominence as an attractive option. Simultaneously, industry players are embracing cutting-edge sales innovation techniques to engage customers effectively and adapt…
More than half of American workers are planning to work during retirement. That’s according to a recent study published by the nonprofit Transamerica Center for Retirement Studies. Nearly 6,000 people responded to the survey. The study found that 55% of those surveyed think they will need to remain in the workforce after reaching their retirement…
Language is a powerful tool in your interactions with clients. The best solutions and products will not matter if you are not using the right language to sell them. Some advisors are naturally great at conveying meaning and clearing production with clients, while many others do not realize how they speak may be negatively impacting…
In today’s competitive marketplace, establishing credibility and trust is crucial for success. Clients seek advisors who are seen as experts, leaders, and trusted sources of information. Building thought leadership not only enhances your professional reputation but also attracts new clients and differentiates you from your competitors. Successful producers will explore these strategies that can help…
