Mdrt Podcast

Advisors know the importance of seeking to understand each client as an individual. In this episode, MDRT members explained how they work to recognize and support the cultural backgrounds of their clientele, whether that resembles their own experience or not. You’ll hear from: Xiao Chen Chad Demarre Maria Josefa Garcia Episode breakdown: 0:27—Why translation needs to be done by someone in the business 2:21—How perspectives on life insurance can change based on personal background 3:03—Changing your approach based on new prospect experiences 3:50—Understanding how cultural differences can lead to different perceptions 4:53—Recognizing how past experience could influence current opinions Listen to the monthly series, MDRT Presents: @mdrtpresents

How do you ensure that you and a potential client are on the same page about your relationship? In this episode, MDRT members explain how they communicate the essential information and decide what steps to take next. You’ll hear from: Alessandro M. Forte, DipPFS, CSP Renee Hanson, CFP, CDFA Episode breakdown: 0:29 – Communicating the two goals for the initial meeting 1:55 – Creating accountability in the prospect for the advice you give 3:24 – Determining whether or not you and a prospect are a good match 5:01 – A common mistake advisors should be aware of Listen to the monthly series, MDRT Presents: @mdrtpresents

How do you utilize technology, consultants or otherwise to improve and expand your practice? In this episode, MDRT members explain the approaches they embrace and the benefits that result. You’ll hear from: Aaron Kane, AFA, B Bus Adam Thomas Rex, AIF, CFP Episode breakdown: 0:29 – Streamlining and automating using technology 2:25 – Utilizing training boards via Zoom to create training manuals 5:03 – Innovating through business planning and new ways to reach clients 9:02 – Increasing social media content, particularly video 10:36 – Determining what information to share in video content Listen to the monthly series, MDRT Presents: @mdrtpresents

How do you gather information from prospects and clients in a way that showcases your own expertise? Should you do advance research? In this episode, MDRT members share their best practices for generating the trust that leads their specific clientele to open up. You’ll hear from: Joseph Tan, ChFC, CLU Abigail Venida Yabot Episode breakdown: 0:28 – Doing research to find common interests and generate trust 1:31 – Ensuring you prioritize both character and competence 3:01 – Utilizing social media as a guide for prospecting 5:53 – Staying top-of-mind with potential clients who are parents 8:00 – Demonstrating expertise with couples Listen to the monthly series, MDRT Presents: @mdrtpresents

What can you offer clients as a way to say thank you? What item or event will get them talking about you? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey explain how to successfully utilize gifts – pending compliance approval – and other initiatives to enhance relationships and drive referrals. Episode breakdown: 0:28 – Matching intangible products with tangible gifts 1:41 – Identifying a range of ways to say thank you – and drive referrals 5:05 – Distinguishing between a gift and a promotional item 8:24 – Creating different opportunities for client appreciation 10:44 – Ensuring that you’re being referred to the right people Listen to the monthly series, MDRT Presents: @mdrtpresents

What should you say — or not say — to clients who are especially vulnerable? In this episode, MDRT members explain how they support clients going through particularly challenging times, whether it’s a death, divorce or otherwise. You’ll hear from: Alessandro M. Forte, DipPFS, CSP Renee Hanson, CFP, CDFA Episode breakdown: 0:32—Learning about the importance of not making assumptions 2:50—Developing a process for working with vulnerable clients 8:26—Adapting to circumstances outside of the norm 9:48—Recognizing that lifequakes can be both big and small Listen to the monthly series, MDRT Presents: @mdrtpresents

Every advisor wants to help their team perform at its highest level. But how do you actually do that in the short term and evaluate that in the long term? In this episode, MDRT members share techniques for maximizing the way their practice performs as a team. You’ll hear from: Aaron Kane, AFA, B Bus Adam Thomas Rex, AIF, CFP Episode breakdown: 0:28–Defining goals and specific ways to execute them 2:52—Creating clarity from a sense of ownership 5:14—Converting in-person meetings to discussions on a virtual whiteboard 7:34—Benefiting from team members setting their own success factors 10:17—Developing a way to evaluate those success factors Listen to the monthly series, MDRT Presents: @mdrtpresents

Can you treat an entire family as if they are an individual client? What decisions might be forgotten in how one generation’s decisions impact another’s? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey explain how they navigate relationships among multiple generations. Episode breakdown: 0:27—Seeing family members as separate clients rather than one unit 1:56—Establishing part of a generational plan that can go overlooked 4:44—Creating a pipeline for a younger client base that’s just as loyal 7:31—Handling a multi-generational referral that may be less than ideal 9:28—Navigating delicate relationships within families Listen to the monthly series, MDRT Presents: @mdrtpresents

What are the keys to ensuring your team is on the same page? What conflicts can arise without this structure and connection in place? In this episode, MDRT members share how they benefit from a staff that runs on clarity, process and positivity. You’ll hear from: Carla Brown, FPFS Matthew Richard Duffy, LUTCF, FSS Episode breakdown: 0:26—Learning how staff members like to be communicated with 1:23—Establishing systems so everyone knows what to expect 2:12—When team members aren’t on the same page about communication 4:03—Defining consistency and unity to avoid surprises or tension 6:01—Spotting red flags for a candidate that could be a poor fit with the team Listen to the monthly series, MDRT Presents: @mdrtpresents

What do you do if a COI hasn’t referred back to you? Or your instinct tells you that this professional relationship might not work out? In this episode, MDRT members share how they check in on their interactions with COIs to ensure the dynamic remains beneficial. You’ll hear from: Alessandro M. Forte, DipPFS, CSP Renee Hanson, CFP, CDFA Episode breakdown: 0:33—Identifying if a relationship is reciprocal 3:23—Considering the reason to connect with a COI in the first place 5:05—Being honest and transparent about what’s best moving forward 8:00—Likening professional relationships to dating Listen to the monthly series, MDRT Presents: @mdrtpresents

If you give a gift to a high-net-worth client, you want to make sure it’s something they actually want — and something they aren’t receiving from everybody else. In this episode, MDRT members explain how they identify what this particular clientele would appreciate from you and how to deliver that with sincerity and impact. You’ll hear from: Aaron Kane, AFA, B Bus Adam Thomas Rex, AIF, CFP Episode breakdown: 0:25 – Avoiding repetition in gifting 1:54 – Recognizing when high-net-worth clients are charitably inclined 4:43 – Generating client buy-in and fun with regular initiatives 6:06 – Embracing spontaneity for client gifts Listen to the monthly series, MDRT Presents: @mdrtpresents

What did you do when you realized you had to increase accountability in your team? Or go your separate ways from a mentor? Or adjust your role to support a parent? In this episode, MDRT members explain how they dealt with a difficult crossroads in their practice. You’ll hear from: Xiao Chen Chad Demarre Maria Josefa Garcia Stacy L. Kahan, CLU, RFC Episode breakdown: 0:35 – Fixing problems and empowering team members to be both vocal and accountable 2:44 – Discovering and adapting to philosophical differences with a mentor 4:31 – Passing on a steadier role to focus on individual success and family care 6:06 – Learning what opportunities to pass on Listen to the monthly series, MDRT Presents: @mdrtpresents

How do you explain to a client why their coverage was denied? Or to a person close to you that they urgently need more coverage? In this episode, MDRT members explain how they share necessary information to handle challenging conversations. You’ll hear from: Yakov Baylis, CLU, ChFC Edward M. Burnett, RICP Russell L. Clousing, ChFC, CLU Episode breakdown: 0:33 – Talking with a client who wants you to accept blame for their coverage being declined 1:44 – Helping clients with a family member who has long created problems for you 3:34 – Explaining the reason for a fee for financial planning 6:03 – Advocating to your own parent about the need for more coverage Listen to the monthly series, MDRT Presents: @mdrtpresents

Where do your philanthropic priorities come from, and how do you ensure these are represented in your practice? In this episode, MDRT Foundation board members explain the source of their motivation to give and how they have seen these benefits in the professional world as well as their personal lives. You’ll hear from: Adrian P. Baker, DipPFS Priti Ajit Kucheria, CFP, LUTCF Episode breakdown: 0:30 – Evaluating a nation by how it helps the next generation 1:01 – Learning to share at a young age 2:51 – Passing along your spirit of giving to family members 3:42 – Representing that generosity in your business 5:29 – Find others who want to answer the question of “What are we here for?” Listen to the monthly series, MDRT Presents: @mdrtpresents

Can the people on your team bond both through celebrating each other and through friendly competition? How do you create closeness virtually? In this episode, MDRT members share their strategies for advancing relationships among the staff. You’ll hear from: Aaron Kane, AFA, B Bus Adam Thomas Rex, AIF, CFP Episode breakdown: 0:26 – Establishing a team agreement as a springboard to peer recognition 3:17 – Using an employee value proposition just as you would for clients 4:53 – Facilitating a financial dialogue for staff members 7:04 – Driving closeness through competition 8:08 – Creating social events outside and bringing guest speakers inside 9:55 – Working to develop camaraderie with virtual team members 13:34 – Learning about colleagues through personality tests and increased clarity Listen to the monthly series, MDRT Presents: @mdrtpresents

Do you know how to ensure the quality of your referrals? How do you maintain reciprocity with those who refer to you? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey share techniques for establishing a productive and positive pipeline of introductions. Episode breakdown: 0:28 – Understanding the difference between referrals and introductions 2:25 – Incorporating a scorecard into your referral process 4:45 – Establishing the criteria to judge reciprocal relationships 8:42 – Recognizing that the more you give, the more you get back 9:55 – Creating a culture of introductions Listen to the monthly series, MDRT Presents: @mdrtpresents

What do you say if a client complains? Or if you need to help clients understand adjustments that are requested by underwriting? In this episode, MDRT members share times when they weren’t sure how to communicate with clients, and what they did to improve the situations. You’ll hear from: Xiao Chen Chad Demarre Maria Josefa Garcia Stacy L. Kahan, CLU, RFC Episode breakdown: 0:36 – Figuring out how to respond to client complaints 2:08 – Executing conversations about changes necessary for policy approval 5:23 – Ensuring that clients know you take their health seriously 7:44 – Anticipating and reacting to adversity Listen to the monthly series, MDRT Presents: @mdrtpresents

Do you know when you should and shouldn’t try to find new clients – and how to start the conversation when the time is right? In this episode, MDRT members share how they toe that line and make sure to say the right things to the right people. You’ll hear from: Carla Brown, FPFS Matthew Richard Duffy, LUTCF, FSS Episode breakdown: 0:29 – Appropriately sharing a story if someone mentions a topic related to what you do 1:33 – Unexpectedly coming back with new clients after family events 2:32 – Developing new clients around the campfire 4:01 – Making a priority of working with nice people Listen to the monthly series, MDRT Presents: @mdrtpresents

How do you handle difficulties in your practice that come from generational disagreements? Or from clients whose behavior can be draining on you? In this episode, MDRT members share their challenges and strategies to handle them. You’ll hear from: Peter Jason Byrne Danielle J. Genier, CFP, CLU Jonathan Godshall Camacho, LUTCF, MBA Randall D. Kaufmann Episode breakdown: 0:34 – Reconciling generational challenges and client service moving forward 2:11 – Changing processes rather than changing individuals 4:25 – Adapting approaches when working with your spouse 6:32 – Handling clients who refuse to listen to your budget recommendations 10:02 – Maintaining calm when a client becomes overwhelming Listen to the monthly series, MDRT Presents: @mdrtpresents

Do you know how to arrange your schedule to do what you want to do, not just what you need to do? During a conversation at MDRT headquarters before the pandemic, then-MDRT Foundation board members explained how they make their priorities an actual priority. You’ll hear from: Elaine Milne, Dip PFS Ted Rusinoff, CFP Episode breakdown: 0:31 – Making time for what’s important to you 1:48 – How to create that time in your schedule 4:09 – Focusing not on growing the flower but on the environment where it grows 7:34 – Becoming energized through work with the Foundation Listen to the monthly series, MDRT Presents: @mdrtpresents