Mdrt Podcast

What would you do if a client’s dog starting drinking your tea? Believe it or not, an MDRT member had this experience. In this episode, members share how they handled unusual circumstances and what they learned. You’ll hear from: David Braithwaite, Dip PFS Sofia Dumansky, MBA, LUTCF Jonathan Peter Kestle, CLU, B Com Mark D. Olson, MSFS, CFP Episode breakdown: 0:33 – Sliding up a prominent media figure’s stairs on your bottom 2:25 – When prospects think the state will pay for their insurance 3:15 – When a client’s dog drinks your tea 4:55 – Traversing dangerous conditions, surrounded by wild animals 6:15 – A client choosing between coverage and their spouse 9:48 – Being yourself and being OK not connecting with everyone 10:55 – Making sure you know who you want to work with Listen to the new monthly series, MDRT Presents: @mdrtpresents

With so many demands in your work, how and when can you make sure that family responsibilities take precedence? In this episode, MDRT members share how they have found balance in and out of the office and the surprising results they have seen with clients. You’ll hear from: Brian D. Cichy, BS, CLTC Fred O’Connor, ChFC, CFP Episode breakdown: 0:34 – Working tirelessly to begin your career and lacking balance 1:36 – Never having to choose between an appointment and your family 2:11 – Why clients respond to you prioritizing your life outside the office 4:26 – How balance can be more difficult when starting later and continuing to learn 5:24 – Meeting people by participating in activities with family and local organizations Listen to the new monthly series, MDRT Presents: @mdrtpresents

How do you ensure the best protection for your clients if they dispute the value of insurance? Or if timing or withheld information prevents a policy from moving forward? In this episode, MDRT members share memories of the most memorable and challenging clients when it comes to protecting their income. You’ll hear from: Michael Bibb, BA, DipPFS “Sunny” Jae Lee, IAR Shelley MacIntyre, CHS Elli Schochet, CFP Episode breakdown: 0:34 – The regrets of a client who didn’t believe in insurance 2:22 – How to prevent that result next time 3:35 – The heartbreak of tragic timing 5:05 – A new view of “the ones that got away” 7:29 – Client forgetfulness and unrevealed information 9:37 – Changes to communication and understanding Listen to the new monthly series, MDRT Presents: @mdrtpresents

There are many professional and personal reasons a business plan may change over the years. Yet it can be scary to write down the plan and scarier to adjust it. In this episode, MDRT members explain how they have benefited from identifying their approach and tweaking it over time. You’ll hear from: Adam Blumberg, CLU, CFP Matthew Joseph Murphy, EPC Ana Sofia Rodriguez, MBA Episode breakdown: 0:25 – Do you have a business plan? Does it change? 3:30 – Why the concept of a business plan can be threatening 5:57 – Why my plan in the last few years would have been torn up annually 7:04 – How my business plan today is different than it used to be 8:31 – The importance of recognizing from the start that you’re a business owner 10:11 – If your business plan never changes, you’re doing something wrong 11:46 – “If it’s not broke, break it” Listen to the new monthly series, MDRT Presents: @mdrtpresents

Many clients think that nothing bad will ever happen to them, or simply that they’re healthy enough not to need certain coverage. In this episode, MDRT members explain how sharing stories about clients who have experienced something unexpected helps clients and prospects recognize the need for income protection. You’ll hear from: Everett Revere Foxx Steven Genoff, CFP Brandon Green, ChFC, CLU Dana Mitchell, CLU, CFP Episode breakdown: 0:36 – How specific stories connect the dots 2:15 – Why you should start with planning, not protection 3:58 – Helping a client when the hypothetical becomes the reality 5:08 – Identifying the threats to a client’s plan 5:45 – How clients react to hearing troubling stories 7:08 – When they still don’t want to move forward Listen to the new monthly series, MDRT Presents: @mdrtpresents

Have you always helped clients as much as possible? When did you realize how communication impacts the service you provide and the information you gather? In this episode, MDRT members share changes they have made in their practice from lessons that, if possible, they would have learned earlier. You’ll hear from: Harpreet Atwal Rick Jones, CFP Brent Kimball, ChFC, CFP Michaela Scott, CFP, RICP Episode breakdown: 0:26 – The expenses of divorce 1:13 – Adjusting your approach to help clients prevent problems 2:29 – Are you being as comprehensive as you can? 4:47 – Learning to ask more questions 5:43 – Let the clients provide the answers 6:24 – Make sure to relax Listen to the new monthly series, MDRT Presents: @mdrtpresents

What happens when an established client surprises you with previously undisclosed debt, or when you have to give a client difficult news about a policy someone else set up for them? In this episode, MDRT members discuss how they have adapted when startling information is revealed and adjusted their communication moving forward. You’ll hear from: Daniel Evan Jossen, CFP Keunhwa Lori Moon David John Munson Jr. Episode breakdown: 0:28 – An unexpected revelation from longtime clients 2:54 – The lesson learned and next steps in planning 4:01 – How to avoid this happening again 5:23 – Reviewing client’s previously established plans you think should change 9:00 – Dealing with relationships when sharing difficult information 11:03 – The value of going back to basics Listen to the new monthly series, MDRT Presents: @mdrtpresents

Should you take a big swing when trying something new or be more measured? In this episode, MDRT members address the strategies they have considered and what they have learned about the best route to implementation. You’ll hear from: Clay Gillespie, CFP, CIM Daniel O’Connell, MBA Episode breakdown: 0:28 – Unexpected benefits from social media 2:34 – Why some advisors don’t utilize media as much 3:18 – Prioritizing incremental changes and assessing risk 5:48 – Is it foolish to take action on an idea as soon as possible? 7:22 – Why you should listen to people you disagree with 10:30 – Recent changes advisors have made Listen to the new monthly series, MDRT Presents: @mdrtpresents

Do clients understand how smoking may impact their insurance coverage? How can you approach these conversations? In this episode, MDRT members discuss how they educate their clients and also how their meetings can inspire them to change their behavior. You’ll hear from: Michael Bibb, BA, DipPFS “Sunny” Jae Lee, IAR Shelley MacIntyre, CHS Elli Schochet, CFP Episode breakdown: 0:29 – Client vs. insurance definition of “casual smoker” 2:18 – What clients have to do first 2:57 – Being aware of how clients see themselves 4:00 – Delaying a policy until a client is smoke-free 5:24 – When advisors wind up getting clients to stop smoking Listen to the new monthly series, MDRT Presents: @mdrtpresents

Whether it is new regulations, advancements in technology or changing client concerns, there can be plenty of reasons to adjust your business plan. In this episode, MDRT members discuss why they have updated their plan and how they know it’s working. You’ll hear from: Andrew C. Lord, CLU, ChFC Jean M. Mathieu, CLU Dominique Schuh Episode breakdown: 0:27 – Adapting to regulation 2:05 – Using technology to increase communication 3:05 – Addressing clients’ concerns during a global data breach 3:42 – The benefit of sharing staff members’ success with clients 4:23 – Improving the process of wealth transfer Listen to the new monthly series, MDRT Presents: @mdrtpresents

Do you review clients’ plans if they say they already have income replacement? Do you not only ask about their coverage but frequently review it to make sure the policies match up with client needs? In this episode, MDRT members discuss errors they have made in how they have approached income replacement and the benefits of learning from these mistakes. You’ll hear from: Everett Revere Foxx Steven Genoff, CFP Brandon Green, ChFC, CLU Dana Mitchell, CLU, CFP Episode breakdown: 0:27 – You can’t discuss if you don’t ask 2:01 – Are clients ever reluctant to show you their policies? 2:53 – Avoiding yes/no questions 4:30 – Getting clients in their 20s to think critically about the future 6:06 – The need to review coverage more frequently Listen to the new monthly series, MDRT Presents: @mdrtpresents

A family business involves different emotions between coworkers and potentially a different kind of teamwork. In this episode, MDRT members discuss the benefits and challenges of this type of practice, and the importance of paying attention to the goals and perspectives of non-related staff as well. You’ll hear from: Adam Blumberg, CLU, CFP Matthew Joseph Murphy, EPC Ana Sofia Rodriguez, MBA Episode breakdown: 0:28 – The extra layer of feelings with family 0:54 – Showing non-related staff there are still opportunities for growth 1:56 – What it was like to be a non-family member in a family business 3:43 – Envisioning when parents/mentors/colleagues retire 6:10 – The structural lessons provided by family companies 8:11 – Making non-related partners collaborate like family Listen to the new monthly series, MDRT Presents: @mdrtpresents

If you’re struggling to set up an appointment with a client, is it a good idea to stop by their place of business? In this episode, MDRT members discuss how even unexpected in-person communication can help your relationships with clients progress in ways that follow-up emails can’t. You’ll hear from: Brian D. Cichy, BS, CLTC Fred O’Connor, ChFC, CFP Episode breakdown: 0:28 – Explaining why you’re stopping by 1:22 – Creating opportunities in the community 2:08 – Making time now or finally planning some later 3:29 – Business owners understand persistence 4:21 – Do you do this for everyone or just particular clients? Listen to the new monthly series, MDRT Presents: @mdrtpresents

If you are just one of many advisors hosting a large dinner at a restaurant, how do you stand out and actually connect with prospects? In this episode, MDRT members discuss why a smaller, business-free outing or an informative event at a client’s home helps keep better track of the people and conversation. You’ll hear from: Ozer Culhagil, Ph.D. Douglas Anthony Chukwuka Eze Episode breakdown: 0:26 – Replacing dinner seminars with small group meetings 1:39 – What prompted that change in approach 3:28 – Lower risk and higher reward 5:34 – When clients host “financial parties” at their house 10:08 – Repeatable events vs. one-time presentations Listen to the new monthly series, MDRT Presents: @mdrtpresents

Without your help, clients’ children may feel unprepared to discuss their parents’ finances and almost certainly will not become clients of yours. In this episode, James J. Silbernagel, LUTCF, CFP, explains how connecting with his clients’ kids enhances professional and personal relationships and provides essential lessons for multiple generations. Episode breakdown: 0:32 – Don’t just “go where the money is” 1:01 – The value of the family meeting 2:15 – Why power of attorney is crucial 4:12 – Silbernagel’s personal connection Listen to the new monthly series, MDRT Presents: @mdrtpresents

How do you identify the tasks that prevent you or your staff from working most efficiently? In this episode, MDRT members discuss how hiring and delegating enhances the practice’s ability to operate at peak levels. You’ll hear from: Thomas F. Levasseur, CLU, CLTC Jedediah Harrison Levene, CFP, CLU Adam Llewellyn Morse, CFP Episode breakdown: 0:30 – Bringing on an experienced manager 1:39 – Delegate, don’t micromanage 3:33 – Reimagining the schedule for client meetings 4:35 – Keeping staff priorities organized 5:28 – Using technology to improve prospecting 6:46 – Establishing an email diet 7:35 – The benefits of turning off your phone 8:29 – Developing your process and helping clients understand it Listen to the new monthly series, MDRT Presents: @mdrtpresents

Millennial clients may engage with you differently than older clients, and that is certainly true regarding retirement, which may seem a long way away for millennials. In this episode, MDRT members discuss how they illustrate the importance of retirement planning to these clients and how the additional time and information involved impacts their process. You’ll hear from: Travis Manning Angelia Z. Shay, ChFC, CLU Jose Victor Vuilleumier Valdez Episode breakdown: 0:33 – Millennials’ collaborative nature 1:54 – How to focus conversations on showing, not telling 3:33 – Helping clients recognize how quickly time passes 5:15 – If increased client engagement makes advisors’ jobs easier or harder 7:29 – The ever-present importance of simplifying Listen to the new monthly series, MDRT Presents: @mdrtpresents

How likely are potential clients to want your business card, and how likely are they to reach out after receiving it? In this episode, MDRT members discuss establishing connections with prospects and how best to secure the next step in the communication process. You’ll hear from: Michael DeVivo John P. Fisher Dharmesh Goel Episode breakdown: 0:32 – Learning how not to be too aggressive 1:29 – Connecting with the person with or without a card 2:44 – How your website improves upon the business card 4:12 – Get their information, don’t just give out yours 5:33 – The value of asking for permission Listen to the new monthly series, MDRT Presents: @mdrtpresents

Self-evaluation can be difficult, especially when you feel good about the job you’re doing. In this episode, MDRT members discuss how recording themselves and listening to the footage has led to effective adjustments in how they communicate with clients. You’ll hear from: Daniel Evan Jossen, CFP Keunhwa Lori Moon David John Munson Jr. Episode breakdown: 0:35 – Training before the game 1:22 – Establishing the rehearsal process 2:21 – “Watching the game tape” 3:15 – When a presentation goes too fast 4:34 – Identifying flaws in your performance 5:25 – Exchanging words for value 6:01 – Feeling surprised when clients don’t understand 7:40 – Being a financial therapist Listen to the new monthly series, MDRT Presents: @mdrtpresents

For many, retirement is easier said than done, with a lot of uncertainty about what to do and how much it will cost. In this episode, MDRT members discuss how they address the financial challenges of retirement with clients while helping them understand the questions that they should ask themselves. You’ll hear from: Harpreet Atwal Richard Jones, CFP Brent Kimball, ChFC, CFP Michaela Scott, CFP, RICP Episode breakdown: 0:33 – How much money you need vs. how much you think you need 1:24 – Getting people to understand how to think critically about retirement 2:10 – The challenges of comparing one retirement to another 3:44 – A powerful question to ask clients 5:14 – Recognizing where money came from and where it’s going 6:40 – “You’re it for my family” 8:50 – The athletic chief of medicine’s quadruple bypass 11:31 – Helping clients acknowledge the impact of income-debilitating events 13:07- Two spectrums of rewarding experiences with retirement planning Listen to the new monthly series, MDRT Presents: @mdr