Category: Article

Family walking along beach in sunset. Talk to children about college costs

How to Talk to Kids About College Costs

When you’re working with a family that has young children, it can be really powerful to involve the children in the conversation. That’s because most parents still have the desire to send their children to college. This can require a lot of strategy and even some tough decisions.  Encouraging your clients to include their children (at least at a certain age), can be a critical piece of the puzzle. Not only can it help adults learn the true cost of

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Cognitive biases

5 Cognitive Biases to Understand When Growing Your Practice

As an independent financial advisor, you’re also an entrepreneur. You run your own business, which requires a dedication to learning and innovation. Books, podcasts, summit events, and other learning tools can help you stay at the cutting edge of the industry.  Yet, it’s a good idea to be cautious of how you can get in your own way (as we all can on some level). This is thanks to cognitive bias, to which no human is immune.  Our brain works

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Man in white shirt sits at laptop.improving your zoom game.

How to Improve Your Zoom Game and Foster Connection

As you grow your practice and business, there’s massive potential in the online space. Not only can meeting virtually help you expand your practice to all 50 states, it can also open you up to new ways of connecting with clients.  If you’re a PEA member, you’re likely familiar with how we use Zoom to connect with our community. It’s useful for one-on-one meetings, larger webinars, work sessions, and so much more. It can even enable you to hire a

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Is There a Way to BENEFIT from Inflation?

Merriam-Webster defines inflation as the continuing rise in prices, usually caused by an increasing volume of money in the economy. In other words, over time your money just doesn’t stretch as far. Right now, many people are painfully aware of gas and grocery prices. Even if this current “squeeze” is temporary, over time the prices creep up. For example. in the 1950s a gallon of gas or a loaf of bread cost under a dollar. Now, you just can’t expect

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Is Whole Life Tax-Free?

Language is one of the most important tools we have to get concepts across to clients. Language has the power to create understanding and foster connections, and it also has the power to mislead or misrepresent. When building trust, the words we use about our products are crucial, so that we don’t contribute to the misinformation in our field. One shining example is the way we discuss taxes and tax strategies, or call whole life insurance tax-free as a blanket

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How to Build Trust and Make Sales

Dan Sullivan of Strategic Coach recently posted on LinkedIn about how to build trust:  “My definition of selling is two-fold. The First part is that you intellectually engage the person you’re selling to with a future desirable result, something that would be an improvement or achievement in their life. And it’s not what you want for them—it’s what they want for themselves.  The second part is that you then enable them to emotionally commit to that goal and then to

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Can Socialism Fix Capitalism?

Bill Ackman, chairman of Pershing Square Capital Management, proposed an idea to “save” capitalism. Framed as a cure-all for growing disillusionment with capitalism, he recommends that every child have a sum of money invested on their behalf. He proposes that children born in the United States, going forward, receive a lump sum of $6,750. However, it would be distributed as no-fee, stock index funds. At retirement, the recipients could then withdraw from the fund for their income.  In theory, at

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policy loan myth image

The Myth of the Policy Loan

It is the responsibility of the financial advisor to help clients live the life they want. In our face-to-face interactions, this means we’re listening to them. Yet behind the scenes, it’s imperative to have a deep understanding of what we do and how to do it. While that should seem like a given, there are still many false perceptions about whole life insurance and what it does (and does not) achieve. One such misconception centers on how a policy loan

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3 Assets Your Clients Can Pass Down that Have Nothing to Do with Money

The financial wisdom and guidance you pass to clients is going to look different for different stages of life. In the typical financial industry, we see that the bulk of this guidance is about assets, products, and returns. Within the “whole-life friendly” community, there’s more emphasis on legacy, protection, and certainty. We’d like to introduce an additional component to the work you may do with your clients. That is, encouraging your clients to expand their notion of legacy.  You may

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Are Your Clients READY for the Unexpected

John Maynard Keynes once said, “When the facts change, I change my mind. What do you do sir?” We live in an era where technological advances and new innovations constantly change. Hence, with personal finance and financial advising, your clients need to stay abreast of changing tides. You give them sound advice to prepare them financially, with insurance policies, Prosperity strategies, savings, education, and more. You may assume – along with your clients – that a life insurance policy, a

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