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The Register ● April 2005 ● Page
Vol. 6 No. 4 ● April 2005 Official Publication of the IARFC
Would You Like More New Clients?
Charles “T” Jones
Member Profile The IARFC is working with a reputable organization that will generate several thousand highly qualified leads every month. Some are in your area, maybe even next door. Hot prospects. All leads will be people who have indicated an interest in financial planning, estate planning or investing, and have asked for someone to contact them. Qualified leads. They are providing their name, age, address, phone and best time to call, as well as basic information about their current financial state and planning objectives. It is even possible to have the validity of the contact request verified. Making the approach. The IARFC will provide you with a series of letters and phone scripts designed to bring this person in to your office for a discussion of their interests and your services. You will im-mediately send a letter and the RFC con-sumer brochure. Then perhaps send a second letter with your personal brochure, then the phone call after you’re identified. What if the prospect defers? You would continue to send subsequent articles and letters and call back again – because these are serious prospects. Lead distribution. This system will be automated. You will go online, download the leads in your requested geographic region and automatically be charged only $19 per name. Not all these prospects will become your clients. If you make an appointment with only five of every ten names, and secure only two of them as clients on your terms, your cost per client would then be $95 - just a fraction of your earnings from each new client! The more selective you are, the higher the cost per lead, but the greater the value to you.
Take Action Now!
If you’d like to participate, send an e-mail message to: [email protected] Place in the subject line: leads Enter your State abbreviation Enter each of the three-digit Telephone Area Codes you would like to reserve. Add your name and phone number. We’ll have your e-mail address from the message. Lead Generation Start-up. If we have a sufficient number of participants, we will be back in touch with all the responders before proceeding, and verify all the terms and procedures. If we have more than one sub-scriber within an area, the leads will be split and remain on an exclusive basis, and no one will receive duplicates. Unsubscribed areas. There may be some phone area codes that are not subscribed. The lead supplier wants to sell us 100%. Therefore, we are seeking a broker-dealer that would be interested in purchasing all leads not otherwise subscribed. Do you know of one that might be interested? If so, please furnish us the name, title and phone number of the appropriate officer. ◙
Charles E. Jones, CPAE, RFC was born in Alabama, grew up in Pennsylvania and now resides in Mechanicsburg. He and his wife, Gloria travel across the globe as he delivers his famous motivational and inspirational keynote presentations. Mister “Tremendous” entered the insurance business at age 22, with MONY and the next year was awarded his agency's Most Valuable Associate Award. A firm believer in preparation, he took CLU and other courses of study. Within ten years he re-ceived his company's highest management award for recruiting, manpower and devel-opment, and business management. At age 37 his organization exceeded $100,000,000 in force, at which time he founded Life Management Services, to share his experi-ence through seminars and consulting. For more than a quarter of a century, thou-sands of audiences in America, Canada, Mexico, Australia, New Zealand, Europe and Asia have experienced nonstop laughter as Mr. "T" shares his ideas about life's most challenging situations in sales, success, business and at home.
(Continued on page 3)
The Register ● April 2005 ● Page 2
Financial Planning Building 2507 North Verity Parkway Middletown, OH 45042-0506
800 532 9060 • Fax 513 424 5752 w w w . I ARF C . o r g
Edwin P. Morrow, Chairman & CEO
CLU, ChFC, CFP® , CEP, RFC [email protected]
Judith Fisette-Losz, Executive Director [email protected]
H. Stephen Bailey, President LUTCF, CEBA, CEP, CSA, RFC
John E. Grable MBA, Ph.D, CFP®, RFC [email protected]
Vernon D. Gwynne CFP® , RFC
Richard D. Landsberg JD, LLM, APM, RFC
Edward J. Ledford CLU, RFC
Constance O. Luttrell RFC
Ruth Lytton MS, Ph.D., RFC [email protected]
James McCarty, Secretary CLU, RHU, LUTCF, RFC
Burnett Marus, Treasurer RFC
William J. Nelson LUTCF, CEP, RFC
Ronald K. Stair AEP, EA, MLT, Ph.D., RFC
Wendy M. Kennedy, Editor [email protected]
Kathleen Ourant, Administrative Assistant [email protected]
BOARD OF DIRECTORS
Register Letters We welcome your thoughts and ideas. Please direct correspondence to: [email protected] Letters may be edited for length and clarity.
Thank you for producing the Register. It is one of the few publications containing timely information for an advisor that is focused on building their practice. Has anyone else noticed that broker deal-ers and product providers are backtracking at an alarming pace in their support of financial advisors? The current threat of litigation is draining resources that were previously dedicated to helping distribu-tors grow their practice and promote the company's business. Today the majority of communications received from Company "partners" deal with additional compliance procedures being implemented which in turn in-creases our expense of providing services to the public or relate to additional fees and responsibilities being transferred to the field. We recognize that the commission mar-gins are shrinking in all aspects of our business and that litigation will continue to plague our industry until meaningful tort reform becomes a reality. One thing our provider partners can do to take actionable steps is to promote the value of the IARFC and other organiza-tions that recognize the importance of con-tinuing education for their field organiza-tions. Improving the quality of education and helping every advisor activate a per-sonal development plan is one way that we can help slow or reverse the trend that litigation threat has on our business. I would hope that we will see more of our membership and more interested Com-pany providers at the upcoming IARFC Forum which provides a great platform for personal development. Ed Ledford, CLU, RFC Indianapolis, IN
For all their talk about protecting the public, I believe the SEC position is pure garbage. I've already experienced a situation where a wirehouse set up a fee-based plan for an individual, then margined his account and spent part of the proceeds by investing in a hedge fund family. Upon review of the prospectus, the individ-ual learned that the parent of the wirehouse received a commission on each unit sold and, when coupled with operating costs paid to the wirehouse, he was paying out huge fees to the wirehouse. Had they been re-quired to adhere to the strictures of the In-vestment Advisors Act, they would have been more forthcoming with that informa-tion. This individual took a loss unwinding from the transaction. A Southern Planner CPA/PFS, RFC, CFP®
Regarding your request for opinions on the proposals for Social Security reform, I’ve written an op-ed on the subject and posted it on the Web at http://ww.offshorepress.com/articles/socialsecurity.htm. I’ve recently started a new e-mail newsletter for my cus-tomers called the International Wealth Pro-tection Monitor. A sample issue is online at http://offshorepress.com/iwpm-0504.htm Vern Jacobs Prairie Village, KS
IARFC Register Amendment
In Volume 6 Issue 2, IARFC member Oscar Rodrigues of Atlanta, GA name was spelled incorrectly.
I am a Series 7, RFC, CEP, CSA, insurance licensed, Enrolled Agent with 40 years of experience in taxes and a BA in accounting. I am with a small brokerage firm as an inde-pendent contractor. Why should investment representatives with large firms be treated any differently than me? The Series 7 exam is more difficult than the Investors Advi-sor’s exam, I am told. Why should I have to be an independent advisor by taking that exam? If I choose to work with a brokerage firm, using my Series 7, why should I be forced to become a fee-based investor advi-sor? Michael L. Gudis, RFC, CEP, CSA, EA, ABA Crystal River, FL
The Register ● April 2005 ● Page 3
Jeffrey Chiew Asia Regional Chair
DBA, CLU, ChFC, CFP®, RFC [email protected]
Liang Tien Lung Asia Development Organization (IMM)
RFC
Ralph Liew Philippines Chair
Roberto Lo [email protected]
Jerry Tan Singapore Chair
CIAM, CMFA, RFC [email protected]
Huang Wu Qi China Chair, Guangzhou
RFC, AMTC [email protected]
Billy B. Ray Tam Hong Kong and Macao Chair
LL.B., LL.M., RFC [email protected]
Allan Wan, RFC [email protected]
Ng Jyi Wei Malaysia Chair
ChFC, CFP®, RFC(M) [email protected]
Aidil Akbar Madjid Indonesia Chair
MBA, RFC [email protected]
Jeffrey Chen Taiwan Chair
INTERNATIONAL
IARFC COORDINATORS
Committee and Sales Congress and the President of Harrisburg GAMA. His contributions to society have caused him to receive a Doctor of Humane Let-ters from the Central Pennsylvania Col-lege and Doctor Of Christian Education from Canyonville Christian Academy. He continues to serve as head of the Board of Associates and Chairman of the Develop-ment Committee of Messiah College and a Director of Youth for Christ, International. In May 2002 he made the principal dona-tion establishing the Charles “T” Jones Leadership Library on the campus of Cen-tral Pennsylvania College in Summerdale. Facing the center of the academic quad, the Library serves as a gathering place for students to study, research and grow. Many would argue that books and “things you read” lie at the heart of any academic institution, but many libraries are just stuffy repositories of dusty volumes. Not so at the Jones Library, where it is stocked with classic motivational and inspirational materials. It is the home of an extensive leadership collection, an endless array of electronic resources and a unique library loan service. At the dedication, he said, “All my life, I’ve had a love affair with books. Over the years I’ve discovered that the greatest mentors are books. Reading books is like eating potato chips, once you start, you can’t stop.” He also quoted two of his heroes, Andrew Carnegie and Russell Conwell, whose volumes can be found at Executive Books. He commented, “I’ve helped to build libraries (with contribu-tions) but never had the privilege or filling one with the biographies, autobiographies, and memoirs of the leaders who have in-fluenced our heroes and role models. And, of course, his own career has made him an American icon and an inspiration to untold numbers of achievers who have read his many books, interviews, articles or experienced his live presentations, be-ing inspired by his motivational messages. At a time when many are trying to retire, Charlie keeps on accepting new chal-lenges, truly living his motto, Life is Tre-mendous. This year he is enjoying the best time of his life! ◙ You will enjoy going to his book website: www.ExecutiveBooks.com and at the College: www.centralpenn.edu/library. You may reach Charlie Jones by email at: [email protected]
He is the author of Life Is Tremendous with more than 2,000,000 copies in print in 12 languages. Two of his speeches, The Price of Leadership and Where Does Leadership Begin? have been enjoyed by millions on video, cassette and in person at conventions. Every day more persons download these works from his website. His nine books remain in print, sold by many distributors, including a five star rat-ing at Amazon.com. He is featured in the Leadership by the Book television series with Ken Blanchard, as well as the Dynamic Achievers World Network television series. He is included in the "Automotive Sales Training Network" satellite training service, Insights Into Ex-cellence video training series, Nightingale's Executive Treasury of Humor cassette se-ries and two 30-minute color films by Sales Masters, The Leading Edge and Learning - A Tremendous Experience. More than 1,000 companies throughout the world have used these materials. His outstanding platform presentations make him a highly sought-after lecturer at such institutions as: Emory University Goi-zueta Business School, University of South-ern California, Purdue Life Insurance Mar-keting Institute, LSU Insurance University, University of Tennessee, Lamar College, Harding University, Southern Missionary College, Dickinson College, Palmer Col-lege, Logan College, Life College, Pensa-cola Christian College and the Executive Management School of the American Man-agement Association, plus others. A Top Speaker of this Century. Now he is the President of Life Management Ser-vices, Inc. and Executive Books, the Advi-sory Board of Investment Timing Service and Chairman of Pneumedic Corporation. Charlie is a member of the National Speak-ers Association Hall of Fame and a Member of the prestigious Speakers Roundtable. In 2001 he was recognized by the National Speakers Association as one the Top 20 Speakers of the 20th Century! Leadership. He has been active in the West Shore Chamber of Commerce, Na-tional Speakers Association, International Platform Association, Gideon's and the Christian Businessman's Committee. In the financial services area, he has served as Di-rector of Harrisburg Association of Life Underwriters, Chairman of the Pennsylvania Association of Life Underwriters Awards
Jones Profile (Continued from page 1)
The Register ● April 2005 ● Page 4
From the Chairman’s Desk…
Where the IARFC will be represented
Philippines IARFC Symposium March 11, 2005 - Manila APLIC Congress March 18 - 20, 2005 - Malaysia Indonesia RFC Graduation March 24, 2005 - Jakarta MarketShare Financial Excelsior March 31 - April 3, 2005 San Francisco, CA Financial Advisors Forum May 12 - 14, 2005 Middletown, OH RFC/GAMA Conference June 9-10, 2005 - Hong Kong Million Dollar Round Table June 25 - June 29, 2005 New Orleans, LA International Dragon Awards August 13 - 14, 2005 Chiang Mai, Thailand Thailand Financial Adviser Forum August 16 - 2005 - Bangkok Malaysia Financial Adviser Forum August 19 - 2005 - Kuala Lumpur Singapore Financial Adviser Forum August 22 - 23, 2005 Indonesia RFC Congress August 25 - 28, 2005 - Bali Philippines Financial Forum September 8 - 9, 2005 - Makati City LIMRA Financial Adviser Conf. October, 2005 - Romania
Prospecting Made Easy. On page one we outlined the exciting prospecting program that will really make a difference to IARFC members seeking to increase their clientele. Our lead supplier reports that other programs have yielded over 80% appointments and nearly half of those have resulted in new client relationships. Examine Your Clientele. When some advisors classify their clients they often realize they have far too few Class A clients and too many of the less rewarding types. A new prospecting plan can upgrade your clientele – just be more selective on those added. Why Attend Conferences? As our schedules become more convoluted, and the stress of airport travel increases, many are reducing conference attendance, supporting this logic by imagining they will do more reading, or attend Internet-based webinars. However, that is not how most of us learned to acquire knowledge. The truth is - the classroom setting is best. What one receives of far greater value, by attending a conference like Financial Advisors Forum, is networking with other professionals in attendance. The Value of Networking. When you converse with a fellow professional your ideas become clearer about how you can personally apply what you have just learned from a speaker. You move from, It’s a great idea toward I can do this and eventually your con-ference stimulated enthusiasm takes you to, I will do this immediately! Marketing Budget. Many advisors ask, “How much should I spend on Marketing?” This is a logical question, especially for those who were told when they entered the finan-cial services industry, “You will not have any business overhead, and few expenses.” Of course this isn’t true, but unless you have the benefit of a business school education, it is hard to develop a plan for a professional practice - you are too close to the problem.
In recent issues of the Register we have reviewed the exercises to determine your NCR and OCR factors, and the Capital Value of an established client. On pages 10 and 12 of this issue we have included an article and sample Marketing Budget for your review. The Excel file may be downloaded from the Member Files area of www.IARFC.org Financial Engineering Institute. You or an associate may want to attend one of these educational events. There is Special Pricing for IARFC members. The full schedule was in last month’s issue, but you may get more information at: www.theFEI.com Cato Comments - A new feature by revered media advocate, Forrest Wallace Cato, former Editor of Financial Planning magazine, who has assisted the development of five books making the New York Times best seller list, is on page 11. He is a master at helping financial advisors gain highly favorable media attention that elevates and ex-pands their clientele. Portrait of a Professional. In future issues we will profile a member who is doing something exceptionally well; that may be transferable to the practice of others. Maybe that person should be you! If you, or someone you know, is doing something unique that may be duplicated or modified by others, please let us know. We would appreciate a rough draft article, perhaps accompanied by an exhibit or photos. You will be contacted as the ideas are developed for inclusion in a future issue. Send to: [email protected] Keep those Letters Coming! Register editor, Wendy Kennedy, enjoys receiving and including your responses to Register articles and issues important to our profession. ◙
The Register ● April 2005 ● Page 5
When the broker-dealer division split off last year from the Financial Planning Asso-ciation (FPA) the public position was that this would permit them to focus more di-rectly on legislation and regulation affecting those organizations. The new group, chris-tened as the Financial Services Institute, swiftly grew to include 120 firms. Now the FSI has announced that it will add a member division for reps that are affiliated with FSI broker-dealers. Each individual’s membership fee of $99 will be used for the organization’s effort to negotiate effectively with state and federal regulators. The FSI goal is 20,000 rep members, which would provide a stronger image as well as $2 mil-lion yearly for the FSI advocacy positions. However, many feel that this $99 dues and a direct lobbying effort will have a significant impact on FPA membership, which already has an annual membership fee of $285. Whether FPA member numbers will con-tinue to decline is anybody’s guess. The IARFC does not feel that FSI will have any impact on the number of its members, who pay annual dues of only $100. Presi-dent, Steve Bailey commented, “The value proposition for the IARFC is still very strong. We have two outstanding publica-tions, the Register and the Journal of Per-sonal Finance, plus a growing collection of member benefits and outreach efforts.” Bailey feels that IARFC members will join FSI if they want to contribute towards the regulatory efforts supported by the inde-pendent broker-dealers. “After all,” he commented, “The total FSI and IARFC fees are still less then FPA. But the real issue is perceived value to the financial advisor, and many advisors will be members of all three organizations because they believe they are deriving value.” For more information: www.FinancialServices.org ◙
FSI - Yet Another Membership
Organization? A FREE Service for Your Clients
Institute of Consumer Financial Education 619 239 1404 [email protected]
There is no better way to ingratiate your-self with your established clients than by offering them a free service. But it must be something of value to them, or their family – either now or in the future, and it is best when somewhat related to personal finances. Consumer Fear: The media reports often on identity theft and the problems of dam-aged credit. This is a very legitimate risk that all citizens run. Yes, there are impor-tant steps every citizen can be taking, and that starts with learning where to recog-nize a problem – the credit report. Unfor-tunately many well-to-do persons feel they don’t need credit, so they don’t need to ever check these reports. The new FACTA law enables people to acquire these reports and take the neces-sary steps to get them corrected. But your clients need guidance to identify and cor-rect improper reporting and you can offer this as a free service. Helping Clients in a new way. There is a tremendous opportunity here to broaden the scope of service to your existing cli-ents and their immediate family members. Plus this is a unique marketing tool to attract new clients, by helping them get their free credit reports and then establish an appointment to review the credit report and also answer any other financial ques-tions which are sure to arise. The credit report is also a good indicator of how your clients are spending and managing cash. Publicity. You might issue a local press release on this service and consider a di-rect mail campaign. Send each client sev-eral certificates offering this service and ask them to share with their affluent friends. Stress that those who normally do not seek credit are most exposed. Preparation, Certification & CE credit. To learn how to get free credit reports, the new FACTA law provisions and learn more about how to review credit reports, the IARFC suggests Loren Dunton’s group, the award winning, ICFE. They have a Credit Report Reviewer Certifica-
Paul Richard, RFC www.ICFE.info CONSUMER FOCUS
tion and training program that is widely recognized by professional counseling and educational organizations that are granting CEUs to those who complete it. The IARFC award 10 CEUs upon completion. Members of the IARFC are also entitled to a 35% discount off the $250 enrollment fee. Visit www.ICFE.info or call Paul Richard, RFC at: 619 239 1401 Who is the ICFE? The Institute of Con-sumer Financial Education, founded in 1982 by Loren Dunton, is dedicated to helping consumers of all ages improve their spend-ing, increase savings and use credit more wisely. The ICFE also certifies Instructors for its own personal finance curriculum and certifies Credit Report Reviewers. The ICFE is a nonprofit, consumer educa-tion organization that has helped millions of people through its education programs and resources. Over one million “Credit/Debit Card Warning Labels” and “Credit/Debit Card Sleeves” are in circulation world wide. The ICFE is also a partner in the national Jump$tart Coalition for Financial Literacy and the California Student Debt Resource Awareness Project. The ICFE’s on-line help for consumers who spend too much was featured in Parade magazine in the Intelligence Report section. The money helps and tips are from The Money Instruction Book, a course in per-sonal finance, which was updated in 2004 and is the premier program in bankruptcy and debtor education initiatives. Fighting Identity Theft. Whenever one of your clients is the victim of identity theft the correction process is lengthy and laborious. You can help by offering or using the Iden-tity Theft Case Planner™, which has check-lists, forms, FTC affi-davit and letters that are compliant with FACTA. You can obtain copies from the ICFE at a discount from the usual $39.95 cost. ◙
The Register ● April 2005 ● Page 6
To Be, Or Not to Be? Another party is declaring itself to be a can-didate for SRO (Self Regulatory Organiza-tion) to govern financial planners. The newly installed president of the FPA, James Barnash, indicated that the FPA is now studying this option, and that the FPA may soon survey the association’s membership for additional feedback. FPA association executive director, Marv Tuttle told Investment News, “I see people using financial planners, and they are not even aware of what financial planning is.” However, it is not clear how the FPA takes the leap from a general lack of understand-ing by the public - to the need for another layer of legal compliance and regulatory bureaucracy. However, there seems to be a strong interest among FPA leadership, expressed by Mr. Barnash, “Unless we are regulated for our own unique process and profession, I think confusion will continue in the public’s mind.” The FPA supports only one designa-tion, the CFP®, and espouses the six–step
planning process as defined by the CFP Board, although many of its members claim to be product sales persons and do not deliver comprehensive written plans. How do you feel about this? Do you feel that the SRO should be the CFP Board? Or the FPA? Do you feel there should be a new entity formed? The CFP Board’s new executive, Sarah Teslick said, “There are professions that want to be an SRO for psychological rea-sons. Some professions feel they aren’t cool or haven’t arrived until they are gov-ernment regulated.” We’ve come along way, Loren! Since the financial planning profession was born, in the early seventies, we are sur-prised to now be hearing more voices vol-unteering to become our regulators. What do you think? Write a letter to the Register with your comments, or complete the opinion form provided below and share your views…. ◙
Here’s My SRO Opinion:
Surrounding the financial planning process with tools to improve your
efficiency, from start to finish. Plan Builder (EnterAct) financial plan-ning software helps you develop compre-hensive financial plans, quickly and eas-ily. Create unlimited "what-if" scenarios - including Monte Carlo simulations - then illustrate your plans with colorful charts and graphs. In real time. Contains compelling, easy-to-understand presentation helps your clients see the wisdom of your plans immediately.
For more information contact:
800 666 1656 ext. 12 [email protected]
Traditional Practice Management Power - with a new name. The Text Library System (TLS) was introduced to finan-cial advisors in 1982. Gradually it has grown to embrace all the tasks the advi-sor needs for effective Client Relation-ship Management. Now TLS is know as Practice Builder Financial, with a new graphic look and even more tools to help you acquire and maintain your clients. Client information may be transferred from Practice Builder Financial di-rectly into Plan Builder (EnterAct) - to facilitate your producing the new client’s first financial plan.
For more information contact
800 666 1656 ext. 13 [email protected] www.FinancialSoftware.com
There is No Need for a new SRO to regulate the conduct of personal financial advisors.
There is a Strong Need for an SRO to represent the interests of consumers and the
financial practitioners.
The SRO should be the CFP Board The SRO should be the FPA organization
The SRO should be _______________________________________________
Comments: ________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ Name (optional): ___________________________________________________________ Please mail: International Association of Registered Financial Consultants Financial Planning Building - 2507 North Verity Parkway P.O. Box 42506 - Middletown, Ohio 45042-0506 Or fax to: 513 424 5752
The Register ● April 2005 ● Page 7
How to Get Great Local Media Coverage
IARFC press release, inserted his personal information, added his professional photo and submitted it to three publications. Look at what appeared in Our Town a local paper read by all his clients and pros-pects! Shouldn’t you be doing this? ◙
We keep saying it, “Powerful media cov-erage can be obtained by simple press releases.” When each person is granted the RFC designation the IARFC staff sends the procedures and copy for excel-lent press releases. New member, Harlan Fischer of Smithtown, New York, took the
Eye On Ethics Award
Lyle Gary, RFC
The National Ethics Bureau (NEB) an-nounced that Lyle Gary, RFC, of the Agent Media Corporation, is the recipient of their “Eye on Ethics” award for his excellence in journalism. Mr. Gary has extensive experi-ence in all areas of financial services and is the senior editor and publisher of Agent's Sales Journal, the popular “how to do it” publication for life, health and annuity advi-sors nationwide. (Request free subscription at: www.AgentSalesJournal.com) “We have truly enjoyed Lyle Gary's written articles over the years,” said Steven McCarty, National Director for the NEB, “and we have found that, in general, they hold to a common theme that true and last-ing success is enjoyed when one does what is right for the customer.” NEB Executive Director Jeffrey Kopitz re-marked, “We really appreciate Mr. Gary's contribution to promoting fair and ethical sales practices - his published articles reflect his dedication to improving the overall level of trust in the financial services industry.” The National Ethics Bureau established this award to honor those that demonstrate an extraordinary level of support and dedica-tion to the advancement of exemplary busi-ness ethics in America. The NEB seeks to identify individuals that provide evidence of this commitment through excellence in print, journalism or literature.
About Lyle Gary, RFC: Lyle is Publisher of Agent Media Corporation and was previ-ously Editor of the Agent's Sales Journal, their flag-ship publication with a readership of 450,000 licensed life and health agents. Agent Media is the largest distributor of agent-friendly recruitment and sales-oriented periodicals in the United States. He began his insurance career nearly forty years ago as an independent agent and has continuously maintained close contact with all sectors of the financial service industry having served with a New York money cen-ter bank and two international brokerage firms as manager and corporate vice-president. Contact Lyle at 800 933 9449 or e-mail: [email protected] ◙
Ethics Award (Continued)
NEB is a membership organization of approved financial advisors who have maintained an exemplary record of busi-ness ethics. The NEB verifies to consumers that each member holds a current professional li-cense(s), has met all continuing education requirements thereof and has a history of exemplary business ethics which includes verification through a seven year business-related criminal background check. Both are completely independent of any indus-try affiliations or political agenda. www.Ethicscheck.com ◙
The Register ● April 2005 ● Page 8
I have been in the financial services busi-ness for over 50 years. In fact, I sold my first life insurance policy designed to fund an education in 1949. Five years ago, how-ever, I was floored after one of my grand-daughters called me to discuss the cost of attending classes at BYU. My reaction was equivalent to: WOW! Given my interest and focus at that time on the for-profit arena of financial planning and advising, I had not kept current on the need for planning for education costs. After all, I attended Phoe-nix College during a time when they did not even charge tuition! Therefore, education to me did not register as a big expense item. I subsequently realized that I had not paid attention to changes in the need for educa-tion planning, and thus I registered to attend a three-day seminar. Since then, I have con-ducted a great deal of research on education needs, costs, planning, and funding, spend-ing several years evaluating education plan-ning ideas with numerous sponsors. This has brought me to believe in education planning so enthusiastically that, as a result, I have devoted the rest of my career to de-veloping the Registered Education Planner (REP) preparation and certification pro-gram, presenting education planning work-shops, and promoting membership in the International Association of Registered Fi-nancial Consultants. The following are some of the facts gleaned from my research:
• The cost of education has risen his-
torically, in the last four decades, at a pace that exceeded inflation. More-over, it will likely continue to do so.
• 529 plans are not the “cookie cutter
answer” to education savings for cer-tain savers. Nevertheless, there con-tinue to be stockbrokers who promote 529 plans with great enthusiasm, de-spite the call for an alternative prod-uct.
• Because of the rising cost of educa-
tion, parents are dipping into their 401(k) plans, 403(b) retirement accumu-lation programs, or - worse yet - sus-pending saving for their own retire-ment in order to pay for their chil-dren’s education.
• There is a genuine need for educated
and impartial professional advice and motivational savings/investing pres-entations in education planning. A child can borrow money for educa-tion, but a parent cannot borrow to retire.
• Small business owners comprise an
ideal target for this service. • Education planning seminars offered
by employers to their employees, and presented by professional planners, have thus far been very successful.
• Education planning is a great door
opener versus the more conventional icebreakers, given the willingness of individuals to open up and talk about strategies to provide education for their children.
• There is a great growing market for
education planning: between now and the year 2011, the baby-boomers will send more children to college than ever before!
• There could not be a better time to
enter the education planning market. Education planning offered through the Alumni Association at Phoenix College -
where a preponderance of my testing of the REP program took place - has been well received. The Association has received excellent reviews for their community out-reach program of education oriented finan-cial planning. The association provided education planning seminars to high school students enrolled in the Achieving a College Education (ACE) program, including their parents. These seminars, in collaboration with a counseling department, received the Gold Award from the Council for Advance-ment and Support of Education (CASE). This award was a first for the community college. These results inspired the introduction of a professional designation for education plan-ners. Registered Education Planner (REP) designation is designed for professional financial consultants who wish to add edu-cation planning to services they offer to the public. Education planning is a great introductory program for entry level financial planners to become involved with clients. Entry level people offer a great opportunity to RFC members to introduce an intern program in to their firms and lead the REP to earn the RFC designation. The course work for the designation is now being offered in Arizona in three-day seminars. We will soon have a distant learning program and also materials available in Spanish. The subject areas covered are: the financial planning process, financial aid basics, sources of funding an education, financial goals, education savings accounts, tuition programs, and financial products, concepts, and strategies that should be considered when paying for a secondary level of edu-cation. The course work addresses the economics of secondary education, the value of an educa-tion, the relationship between funding an education for children and retirement for parents, and the issues of integrating educa-tion planning into a financial planning prac-tice. Seminar completers will learn:
• To calculate and project ultimate edu-cation costs for a prospective student.
(Continued on page 9)
Dick Norton, CLU, CFP®, RFC
Birth of a Professional Designation REP - Registered Education Planner
The Register ● April 2005 ● Page 9
Do you feel a bit stressed out? Are you working too hard and too many hours, but devoting your time and attention to less critical tasks? You need more help – of the right sort. A Good Source. Why not hire a recent graduate of a financial planning curriculum? This summer nearly 400 students will com-plete an approved financial planning cur-riculum. They have the needed basic educa-tion and the enthusiasm to get started. If you aren’t sure you are ready for a full time new financial advisor, why not try one out? There are hundreds of financial plan-ning students looking for an internship, ei-ther full time during the summer or part time during the school year. Most universi-ties will award academic credit of 3 to 9 hours. What should you pay an intern? That depends on many factors: What hours they will be working? What tasks they’ll be per-forming? What are their skills and capaci-ties? Do they hold any licenses already? What are the costs of commuting and park-ing? Are you committed to spending some time with an intern as an educator/mentor? Interns work. One veteran who has had over 20 interns in the past twenty years pays them nothing. He knows from experience the intern will require space, equipment and especially the advisor’s time to educate them on the practical procedures of deliver-ing financial advice. He indicates, “During the first one third of the internship I’m spending lots of time (and so are my staff) educating and directing, while very little valuable work gets done that has economic value to our firm. In the middle third of the internship there is less supervision and a bit more valuable work – about a break even. During the last third of the internship I’m finally deriving some value – which offsets the time and energy spent earlier.” Results. But regardless of what salary, sti-pend, scholarship and/or reimbursement you pay to the intern you both will have a learn-ing opportunity and a great basis for enter-taining a post–graduation job offer. The IARFC website has places for you to post vacancies for both full-time jobs and internship positions. Check it out! ◙
Are You Looking For Some Help?
• How education planning addresses the various aid, scholarship and grant pro-grams.
• To prepare and file the Financial Aid
Forms. • Annual maintenance of information of
Financial Aid Forms. • Proper positioning of insurance, invest-
ments, securities, annuities and retire-ment planning.
• The use of real estate investments in
education planning. • What a mini-dorm is and how owning
one is beneficial for education plan-ning.
• Student employment opportunities. • Tax treatment and opportunities in edu-
cation funding. • Time horizon to funding dates. • How to greatly expand their present
practices. • How to market education planning ser-
vices with seminars, and get civic or-ganizations to provide you an audience.
• Using interns to work in the education
planning market. Financial planning is currently considered to be the number one career choice, and this ranking is expected to last through 2017.
• How to assist alumni associations and
community outreach programs by sup-porting education planning.
• How to use web sites to manage and
promote seminar education planning programs.
• Integrating the lifelong learning con-
cept to financial planning. A number of people contributed to the Reg-istered Education Planner preparation study course. Each of them have devoted a sig-nificant amount of their time and resources to researching the needs of a financial pro-
REP (Continued from page 8)
fessional who is dedicated to offering fi-nancial services and products in the educa-tion planning arena. They participated in many brainstorming sessions, test work-shops and attended many education work-shops addressing the problems of paying for higher education. Lori Bayless, Executive Director of First Financial Education Centre, is licensed in real estate, life and health insurance, is a Certified Property Manager and the first to hold the new REP designation. Katherine Nee, a Senior Risk Analyst for GE Commercial Finance, and a graduate of the University of Notre Dame, MBA, with concentrations in Finance and Ac-countancy. Ken Mattern, a business/marketing educa-tor, former publisher of community news-papers and licensed insurance and health producer. Mr. Mattern holds degrees in Business Management, Banking Finance, General Business, Marketing, Organiza-tional Leadership, and one with a Business Administration Emphasis. Bianca Zaragoza, a seminar presenter spe-cializing in oral and written Spanish inter-pretation. The IARFC will soon announce the full procedures for acquiring the REP profes-sional designation; enrollment in the short-term residence program offered in Arizona, and the Internet-based distance learning program. ◙ About the Author: Dick Norton CLU, CFP®, RFC, is the founder of First Fi-nancial Education Centre, a 501c3 non-profit education charity. He served as a Director of the IARFC for six years. To-day he is dedicated to financial education and young people that can benefit from his financial literacy programs; personally and as a career in financial services. Dick has been involved in business owner-ship and financial services for over fifty years and has conducted business as a financial planner, securities broker/dealer, life insurance general agent, real estate broker, real estate developer and a property manager. Dick Norton can be reached by e-mail at: [email protected] or you may meet with him at the IARFC Fi-nancial Advisors Forum, May 12-14.
The Register ● April 2005 ● Page 10
On January 24, Senators Jeff Sessions (R-AL), Joseph Lieberman (D-CT), and 18 Senate co-sponsors introduced Senate Bill 77 to increase life insurance options under the Servicemembers' Group Life Insurance from the current $250,000 to as high as $400,000. It also proposes to increase the survivor death benefit from $12,000 to $100,000. The Pentagon announced a simi-lar plan requiring the government to pay the premiums on the additional coverage for families of troops killed in a combat zone. According to Sen. Sessions, the estimated cost of the increased benefits would be $459 million the first year, including $280 million in retroactive payments. Sen. George Allen (R-VA) introduced a proposal that would raise the SGLI amount to $300,000 and in-crease the death gratuity to $100,000. Sales to Service Members. Whatever leg-islation is agreed to by Senate leadership may be offered as part of President Bush's supplemental spending request to fund the country's continuing action in Iraq and Af-ghanistan. The bill has also been discussed as a possible vehicle for the Military Per-sonnel Financial Services Protection Act that died in the last Congress. That act would have clarified regulatory jurisdiction over the sale of life insurance on military bases, to help curb certain sales practices. It passed the House on October 5 by a vote of 396 to 2 and has been re-introduced in this Congress by Rep. Geoff Davis (R-KY). Unfortunately, Senators Susan Collins (R-ME) and Hillary Rodham Clinton (D-NY) have stated they intend to try to require the Department of Defense to change the rules governing the sale of life insurance on post. Clinton has expressed support for a morato-rium on the ability of life insurance agents to sell to service men and women on base. A Historical Perspective. When group life insurance was first introduced for members of the armed services, many insurance agents thought it would reduce sales, but the opposite occurred. They began to realize their lives had far greater financial value than the group coverage. Similarly, when federal employee pensions were altered to a cash basis to encourage personal investing, the outside investing also increased. If you favor these proposals a letter to your mem-bers of Congress is appropriate. ◙
Military Life Insurance What’s Your Marketing Budget? If you don’t have a marketing budget, then you obviously don’t have a Marketing Plan. That’s OK if you already have more high quality clients than you’ll even need. But is that really very likely? You know that phrase, “People don’t plan to fail, they fail to plan.” Marketing won’t happen effectively unless you have a plan. And your plan must contain a budget. Your Marketing Budget. This can be set up very easily in an Excel spreadsheet. In fact, we have placed a sample on the IARFC website, in the Member Files area. Action starts with a budget. Financial advisors know that an important part of every plan is the commitment to follow through. If you recommended, “Buy some more insurance” what you really should be saying is, “Purchase $250,000 of 10 year Term in March 2006, with an annual pre-mium of $600 level for first 10 years. Your recommendation can then logically flow into the client’s budget, once the cli-ent is committed to move ahead. Market to Existing Clients. It is impor-tant that a major part of your marketing effort be expanded to keeping your exist-ing clients very pleased with your ser-vices. Research from several sources is overwhelming – clients don’t leave advi-sors because of poor investment results, but because they feel out of touch. When you have completed your OCR (Old Cli-ent Revenue) analysis it is easy to see the justification for spending a reasonable amount of your marketing effort to keep your current clients very happy. If your OCR is $2,000 it is not difficult to feel that $50 per client is justified. Referrals must be stimulated. We all know that the best source of a referral is from an existing client, from a center of influence, or coming from a carefully placed and complimentary media refer-ence. But, these do not happen by acci-dent. First, you must communicate well and often with all three groups. Then you must ask for the referral. Set up auto-responses. An excellent way to do so with existing clients and profes-sional sources is to insert a Business Reply Mail post card so they can easily write a
name or a note on the card and put the refer-ral process into action. If postal reply cards work for every magazine publisher, they’ll work for you! Marketing to Your Leads and Referrals. Acquiring a new client will require a greater effort and expense. You will be printing materials and placing advertisements or ex-pending other effort. However, once you have computed your NCR (New Client Revenue) analysis you can easily feel that the expense was appropriate. For example a NCR of $3,600 clearly justifies an expendi-ture of $250 for each new client secured. Every practice is unique – so no marketing budget will fit all advisors. You must select the items that will work best for you and which are most likely to be cost-effective. Some efforts can have immediate impact, which is especially important if you need a quick profitability boost. Get some help. Incidentally, if you plan to have a financial planning student intern with you this summer, the development of a Mar-keting Plan and Budget are an excellent task to assign to your intern. Quit procrastinating! If you haven’t gone through this exercise, or have not done so recently, then it will be well worth your ef-fort. Involve your staff. An important aspect of marketing is effective delegation, and this takes place when the staff is involved from the onset. Get professional help. You should proba-bly seek the professional services of a mar-keting advisor such as Burnett Marus, RFC ([email protected]), Gigi Guthrie ([email protected]) or Maribeth Kuz-meski, RFC ([email protected]). Work smarter not harder. Why start from scratch? Use another advisor’s experience. You can download the Sample Marketing Budget shown on page 12 in this Register. It is an Excel file containing all the formulas to complete your projected cost per existing client and cost per new client. Get quick help from the IARFC website: www.IARFC.org\members - located in the Member Files Area - the first file shown. ◙
The Register ● April 2005 ● Page 11
The typical financial service advisor within your market area allows his or her image to take care of itself! That is to say they do little or nothing to make their im-age actually work to their marketing ad-vantage! About 95% (my guess) of them believe that if they have a professional-looking letterhead and business card, plus if they belong to a local civic club, and if they spoke at a local senior citizens home, then they have a good image. Of course, this is dinosaur thinking! If you compete in the same market with such planners and agents, and if you place the media to work promoting your image in your market, then you can take desired business away from these other planners and agents! You can take their most de-sired clients away like crazy! You can also become the local recognized expert, plus you can become the leader in your community. Prospects select the more noted trust-worthy financial professional. Clients of other practitioners prefer the more noted trustworthy financial profes-sional. That person should be you! But, is that you? Now more than ever, prospective clients prefer to invest and protect their hard-earned money with financial professionals who are viewed as the recognized, re-spected, and established experts in their local areas. Most readers of the IARFC Register have been bombarded by PR practitioners or “financial coaches,” all saying “Communicate more effectively using the media!” or “Know yourself first then make yourself known through your local media!” or “Emphasize your strengths in the press!” Perhaps they say, “Isolate your objections and cover them on radio, TV, and in print.” Or maybe, “Plan your work and work your plan using all the existing media within your market territory.” After years of ignoring approaches like this you begin to devalue the worth of all image-building. Too many PR agents seem to “promise anything” to get an ac-count. But the delivered results are often rather disappointing. Once “burned” you may well be inclined to no longer even
consider retaining a so-called “professional PR man or woman.”
You Need Intelligent Promotion! For 25 years I have worked as a Media Ad-vocate (that means image promoter) for fi-nancial professionals in seven countries. And I’m no slouch at this specialty disci-pline. I’ve interviewed five Presidents at the White House, ghosted books that made The New York Times top ten best-seller list, edited Financial Planning magazine, placed stars on the Hollywood Walk-of-Fame, ar-ranged for Times Square “names in lights,” written screenplays that were produced into movies, placed advisors on network TV talk shows, interviewed the legends of the busi-ness and financial world, such as, Ted Turner, Bill Gates, Warren Buffet, John Templeton, Alan Greenspan, etc. I have earned the right to speak with some author-ity about your image and about the image of the typical or average advisor. I’ve also known more than my share of loud mouth egomaniac financial advisors who also exaggerate and over-promise. .3Like you, I have seen far too many planners who do their own self-promotion and view them-selves as wise financial writers - but are perceived as embarrassing amateur self-promoters. Like you, I know the difference between those in our industry who share and are team players, and those who are not. If you do not define, establish, and main-tain your desired image, then your com-petition will define your image. And your competition will define you to their ad-vantage not yours. It is amazing how some advisors place the cart before the horse. “I want to build my agency or planning firm before I hire a me-dia advisor.” Or, they may say, “I want help to create advertisements to drive clients to my firm or agency.” Common errors: They confuse presence with impact. Napoleon Hill wrote one of the best-selling books of all time, Think And Grow Rich. His second best-selling title was How To Sell Your Way Through Life. In How To Sell Your Way Through Life, first published in 1939 (that’s 70-years ago!), Dr. Hill titled Chapter Two: You Need Intelligent Promo-tion To Succeed. You still do! ◙
Cato Comments - About Your Image....
Are You Making The Media Work For You?
Forrest Wallace Cato, RFC, represents successful financial advisors on a local, regional or national basis as media advocate. Annually he presents the Cato Award for distinguished financial journalism. Cato’s Five Success Laws appears in the new book, Four Great Timeless Success Classics along with As A Man Thin-keth, A Message To Garcia, and Secrets From The Richest Man in Babylon. He can be reached at Intergroup II/Atlanta, Inc. 915 River Rock Drive, Suite 101, Woodstock, GA 30188. Phone: 770 516 9395 E-mail: [email protected].
In the last issue of the Register we included an insert for an excellent training program to be held in Safety Harbor, Florida. The primary instructor is Nick Gregory, CFP®, CIC, CEBA, ChFESM, an experienced finan-cial advisor and trainer in the affluent, busi-ness owner and planned giving areas. Other faculty members include Jonathan Persky, CIC, CPA, PHR, ChFE, Mark Jansen, ChFE, JD, CPA, CIU, ChFC and Ed Mor-row, CLU, ChFC, CFP®, RFC. Nick began his career in Northeast Ohio in 1976 and evolved into working exclusively with owners of closely-held companies, developing the financial engineering proc-ess. In 1994 he moved to Clearwater Flor-ida and started working jointly with other financial advisors and their clients. His efforts have culminated in to the establish-ment of the Financial Engineering Institute, which grants the ChFE designation. The Institute is an intensive three and a half day “real world” learning curriculum that culminates with a comprehensive exam. Tuition is $1,600 and the special rate for IARFC members is $1,350. This includes accommodations at Safety Harbor Resort & Spa, just minutes from the Tampa airport, plus all meals during training. Dates are:
April 19 - 22 June 21-24 September 27 - 30 October 25 - 28
For additional information, you may contact the Financial Engineering Institute, LLC in Clearwater. Phone: 888 884 3332. You may review the detailed curriculum, faculty profiles, class schedule and register online at: www.theFEI.com ◙
Chartered Financial Engineer Course
Ed Morrow, Nick Gregory and Steve Bailey pictured at the Clearwater Florida offices of Financial Engineering Institute
The Register ● April 2005 ● Page 12
Description of Marketing Activity Freq. No. Units Desired
Per Unit $ Cost
Annual Budget
Sample Budget
Purchase of IARFC Interested Consumer Leads 12 20 19.00 4,560 5,000
Client Newsletter, 8 pages, full color Newsletters, Financial Insider, bi-monthly, with envelopes 6 300 0.75 1,350 1,500 Newsletter Postage, first class for large envelopes 6 300 0.60 1,080 1,000
Client Relationship Management Program Drip Marketing - Letterhead Pages 15 300 0.12 540 500 Drip Marketing - Envelopes 15 300 0.08 360 400 Drip Marketing - Greeting Cards 3 200 1.00 600 600 Drip Marketing - Postage, most in No. 10 envelopes 12 300 0.37 1,554 1,500 Drip Marketing - Photocopies of articles inserted 4 300 0.07 84 100 CRM software, Practice Builder, annual support fee 375 500
Printing of Custom Marketing Materials General Marketing Brochure, three panel, color 500 1.50 750 800 Business Cards with Gold seal and thermograved 2 500 87.00 174 200 Special Brochure, full color, one produced per year 1 1,000 1.50 1,500 1,500 Postal Reply Cards and No. 9 envelopes 500 0.15 75 100
Association Marketing Materials RFC 4 page full color consumer brochures 200 0.30 60 100 RFC small 3 panel, full color consumer brochures, for mailings 250 0.20 50 100 Dark Blue Proposal Folders with flaps, die cut 100 1.25 125 200 Personal Note cards (IARFC or other) 250 0.40 100 150
Advertising and Promotion Advisor Website, IARFC, Financial Visions 12 35.00 420 500 Advertising in local papers 12 120.00 1,440 2,500 Yellow Pages ad under Financial Planning 12 34.00 408 700
Media Relations Activity Press Releases sent to Local and Regional media outlets 4 35 0.50 70 100 Full Press Kits distributed to media members 12 5.00 60 100 Luncheons with media representatives 12 40.00 480 500
Center of Influence Activity Marketing Package given to local professional advisors 6 5.00 30 50 Luncheons with centers of influence 6 40.00 240 300
Client Appreciation Event Invitations Printed and mailed 200 2.00 400 500 Reminder Post Cards printed and mailed 200 1.20 240 300 Programs for the event 80 1.40 112 150 Buffet and refreshments 90 25.00 2,250 2,500 Room rental charge 200 300 Outside speaker fee, gift and travel expense 800 800 Gifts and favors for clients and guests attending 80 10.00 800 800
Additional Marketing Activities Business Reply Mail Permit 75 75 Business Reply Postage 12 20 0.60 144 150
Total Annual Marketing Budget for the Firm 21,287 24,575 Approximate number of Existing Clients 200 200 Approximate number of New Clients Desired 48 50 Percentage of Marketing Spent on Existing Clients 0.50 0.50 Cost Budgeted for each Existing Client 53 61 Cost Budgeted for each New Client 222 246
Financial Advisor - Annual Marketing Plan Budget
The Register ● April 2005 ● Page 13
ANGELA S. HERBERS, RFC Financial Advisors Resource Manhattan, KS Hiring a Junior Associate 2:10 pm - 3:00 pm, Thursday
DONALD RAY HAAS, CLU, CHFC, CFP®, RFC
Haas Financial Services Southfield, MI
Plan distribution elections can guarantee your clients will have Money Forever!
4:10 pm - 5:00 pm, Thursday
BEN G. BALDWIN, JR. CLU, CHFC, CFP®, RFC Baldwin Financial Systems Arlington Heights, IL No, You Don’t Have to Sell It! 1:20 pm - 2:10 pm, Thursday
ROBERTA A. CARTER, CSA, CEP, MBA, RFC The Retirement Choice
Cincinnati, OH
Practicing Separately, But Operating Together 10:20 am - 11:10 am, Friday ANGIE D. TRANDAI, CFP®, CEP, RFC Trandai Financial Solutions, West Chester, OH
JOHN A. BOEHNER, U.S. HOUSE OF REPRESENTATIVES What Should Your Congress Do About Social Security? (Invited guest speaker as Congressional session permits)
DARREN W. OGLESBY, RFC Money Concepts Monroe, LA Gorilla Marketing, Strategies & Branding Techniques 2:00 pm - 2:50 pm, Friday
Financial Advisors Forum Scheduled Speakers
JOSEPH A. CLARK,
CFP® , RFC Financial Enhancement Group
Anderson and Lafayette, IN How To Employ Demographics
3:20 pm - 4:10 pm, Thursday
ALBERT COLETTI CLU, ChFC, CFP® , RFC Design Capital Planning Group Smithtown, NY and Tucson, AZ Develop, Market & Retire from a Comprehen-sive Financial Practice 8:00 am - 8:50 am, Friday
RICH LANDSBERG, RFC Nationwide Financial Columbus, OH Pick the Best Executive Benefits 8:50 am - 9:40 am, Saturday
BRIAN EAGLE, JD Eagle & Fein
Connect2A Indianapolis, IN
Dynamic Professional Collaboration 8:00 am - 8:50 am, Saturday
BURNETT MARUS, RFC Burnett Marus Associates Richardson, TX Market Yourself - Or Go Broke! 2:50 pm - 3:40 pm, Friday
LISBETH WILEY CHAPMAN Ink&Air, Wellfleet, MA Use Print, Broadcast and Web PR Strategies to Grow Your Practice 8:50 am - 9:40 am, Friday
JERRY L. REITER Financial Advisors
Legal Association Las Vegas, NV
Understanding Your Professional Liability 11:10 am - 12:00 pm, Friday
RUTH H. LYTTON, RFC, PH.D. Virginia Tech
Blacksburg, VA Why Aren’t You Hiring Interns?
3:40 pm - 4:30 pm, Friday
KATHERINE VESSENES JD, CFP®
Vestment Advisors Shorewood, MN
Seven Keys to Being a Superstar 10:50 am - 11:40 am, Saturday
DAVE GUSTAFSON BreakThroughDynamic Upland, CA 7 Mistakes That Doom Presentations 10:00 am - 10:50 am, Saturday
The Register ● April 2005 ● Page 14
Forum
Schedule
8:00 AM - 12:00 PM Registration & Materials 7:00 AM - 8:00 AM Continental Breakfast, Exhibit Area
12:00 PM - 1:00 PM Snacks available in Exhibit Area 8:00 AM - 9:40 AM Presentations 5 & 6
1:00 PM - 1:20 PM Opening Ceremony 9:40 AM - 10:20 AM Refreshment Break in Exhibit Area
1:20 PM - 3:00 PM Presentations 1 & 2 10:20 AM - 12:00PM Presentations 7 & 8
3:00 PM - 3:20 PM Refreshment break in Exhibit Area 12:00 PM - 2:00 PM Lunch Service in the Exhibit Area
3:20PM - 5:00 PM Presentations 3 & 4 2:00PM - 4:30 PM Presentations 9, 10 & 11
5:00 PM - 6:45 PM Exhibiting and Refreshments 4:30 PM - 6:15 PM Exhibiting and Refreshments
7:00 PM - 9:00 PM Reception /Dinner for all persons Planned at the Morrow home 7:00 PM - 10:00 PM Loren Dunton Award Dinner — cost
is included; registration required.
8:00 AM -12:00 PM Thursday Morning, May 12th 1:00 PM Wednesday Afternoon, May 11th
We will have a golf outing on Wednesday afternoon with tee-off time of 1:00 at the nearby Weatherwax award winning course. Cost $40. Club rental available.
2:00 PM Saturday Afternoon, May 14th
After the last presentation we will arrange for a trip to the Air Force Museum, located about 30 miles away at Wright Patterson AFP. It has the very earliest military aircraft, space vehicles, German rockets and the first jet fighter — plus the most exotic U.S. aircraft, many of which you can tour inside. Every visitor has thoroughly enjoyed this three hour FREE tour.
7:00 AM-8:00 AM Continental Breakfast 9:40 AM - 10:10 AM Refreshment Break and Networking
8:00 AM-9:40 AM Presentation 12 & 13 10:10 AM - 12:00PM Presentation 14 & 15
Saturday, May 14th, 2005
Friday, May 13th, 2005
Financial Planner Workshop
Thursday, May 12th, 2005
Golf Outing and Air Force Museum
Financial Advisor Forum Schedule of Events
Special Interest and Added Attractions
These experienced financial advisors will display how to create and present comprehensive personal finan-cial plans. They will show how to secure and retain clients through relationship management and illus-trate the techniques used to operate personal financial practices effectively and efficiently. You will see how to use a computer Scenario Manager within a client interview to illustrate problems and solutions. Both presenters hold CLU, ChFC, CFP, CEP and RFC designations. Workbook with examples, outline, checklist and advisor tools. Registration Fee: $50
David Stitt
Ed Morrow
8:00 AM - 12:00 PM Registration & Materials 7:00 AM - 8:00 AM Continental Breakfast, Exhibit Area
12:00 PM - 1:00 PM Snacks available in Exhibit Area 8:00 AM - 9:40 AM Al Coletti & Lisbeth Chapman
1:00 PM - 1:20 PM Opening Ceremony 9:40 AM - 10:20 AM Refreshment Break in Exhibit Area
1:20 PM - 3:00 PM Ben Baldwin & Angie Herbers 10:20 AM - 12:00PM Roberta Carter, Angie Trandai & Jerry Reiter
3:00 PM - 3:20 PM Refreshment break in Exhibit Area 12:00 PM - 2:00 PM Lunch Service in the Exhibit Area
3:20PM - 5:00 PM Joseph Clark & Donald Haas 2:00PM - 4:30 PM Darren Oglesby & Burnett Marus
5:00 PM - 6:45 PM Exhibiting and Refreshments 4:30 PM - 6:15 PM Exhibiting and Refreshments
7:00 PM - 9:00 PM Reception /Dinner for all persons planned at the Morrow home 7:00 PM - 10:00 PM Loren Dunton Award Dinner — cost
is included; registration required.
8:00 AM -12:00 PM Thursday Morning, May 12th 1:00 PM Wednesday Afternoon, May 11th
We will have a golf outing on Wednesday afternoon with tee-off time of 1:00 at the nearby Weatherwax award winning course. Cost $40. Club rental available.
2:00 PM Saturday Afternoon, May 14th
After the last presentation we will arrange for a trip to the Air Force Museum, located about 30 miles away at Wright Patterson AFP. It has the very earliest military aircraft, space vehicles, German rockets and the first jet fighter — plus the most exotic U.S. aircraft, many of which you can tour inside. Every visitor has thoroughly enjoyed this three hour FREE tour.
7:00 AM-8:00 AM Continental Breakfast 9:40 AM - 10:10 AM Refreshment Break and Networking
8:00 AM-9:40 AM Brian Eagle & Rich Landsberg 10:10 AM - 12:00PM Dave Gustafson & Katherine Vessenes
Saturday, May 14th, 2005
Friday, May 13th, 2005
Financial Planner Workshop
Thursday, May 12th, 2005
Golf Outing and Air Force Museum
Financial Advisor Forum Schedule of Events
Special Interest and Added Attractions
These experienced financial advisors will display how to create and present com-prehensive personal financial plans. They will show how to secure and retain clients through relationship management and illustrate the techniques used to oper-ate personal financial practices effectively
and efficiently. You will see how to use a computer Scenario Manager within a client interview to illustrate problems and solutions. Both presenters hold CLU, ChFC, CFP, CEP and RFC desig-nations. Workbook with examples, out-line, checklist and advisor tools. Regis-tration Fee: $50
David Stitt
Ed Morrow
The Register ● April 2005 ● Page 15
■ Registrant Information (please only one attendee per form)
■ Special Discount “Sign-Up- A-Colleague”
Name________________________________________ First Name on Badge ___________________________ Title _________________________________________ Designations __________________________________ Company_____________________________________ Address______________________________________ City ___________________ St____ Zip ___________ Phone ________________ Fax ___________________ E-mail _______________________________________
■ Registration Fees Non Member
IARFC Member
Early Bird, Before 1/31/05 $395 $345
Regular Rate $495 $445
Spouse/Companion Rate $125
Financial Planning Student Rate $125
Planner Workshop, Thur. AM $50 $50
Golf Outing, Wed. afternoon $40 $40
Air Force Museum - no charge (on Saturday afternoon)
$ 0 $ 0
■ Method of Payment
Check (Please make payable to: IARFC)
MasterCard Visa Amex Discover Card Number _____________________________ Exp. Date ________________________________ Account Address (if different from above) ____________ __________________________________________ __________________________________________ Signature __________________________________ Date ______________________________________
■ Additional Conference Information Registration Location: Second floor at the Manchester Inn and Conference Center. Continuing Education Credits: Each state has different insur-ance and securities CE regulations. This event has not been pre-registered for CE. Varying credits will be available for IARFC, CFP, PACE, and state credits, depending on sessions attended. Recommended Attire: Business casual is appropriate. For your comfort, we encourage long sleeves or a light sweater as inside temperatures can occasionally fluctuate. No jeans, tennis shoes or T-shirts please A jacket is optional, but recommended, for the Dunton Award Dinner Friday evening. Cancellation: A refund (less 20% administration fee) will be made if notice of cancellation is received in writing three weeks before the event. We regret that no refunds can be given after this period. A substitute delegate is always welcome at no extra charge. Disclaimer: The program may change due to unforeseen circum-stances, and IARFC reserves the right to alter the venue and/or speakers. IARFC accepts no responsibility for any loss or damage to property belonging to, nor for any personal injury incurred by attendees at our conferences, within the conference venue.
CALL HOTEL FOR RESERVATIONS (Code: IARFC)
We have special room rates at only $68 and $78 per night. You may extend your stay to enjoy the same low rate for additional days.
Manchester Inn - 800 523 9126 www.ManchesterInn.com
■ Room Accommodations
513 424 5752
[email protected] 800 532 9060
P.O. Box 42506 Middletown, OH 45042-0506
Fax:
E-mail:
Call:
Mail:
Website:
www. IARFC.org
Financial Advisors Forum May 12-14, 2005 Manchester Inn and Conference Center, Middletown Ohio
Receive a $50 discount for one nominee who signs up for the IARFC Financial Advisors Forum 2005. I hereby nominate: Name
Phone
Register N
ow! F
ax Back to: 513 424 5752
The Register ● April 2005 ● Page 16
Presort Standard U.S. POSTAGE
PAID Permit No. 42 Middletown, OH
New Registered Financial Consultants & Registered Financial Associates
International Association of Registered Financial Consultants Financial Planning Building - 2507 North Verity Parkway
P.O. Box 42506 - Middletown, Ohio 45042-0506
Return Service Requested
Members Who Recommended New Members
Reggie C. Belen NY Ross F. Browne IN
Steve A. Brubaker PA Mark J. Carpenter MI Kevin T. Carroll NC
Bill E. Carter TX Philip Chua Singapore
Chin Kae Chung Malaysia Alexander Couto SC
James M. Densmore IN Simmone Chan Pooi Fun Malaysia
John D. Griset CA Goh Chin Guan Singapore
C. Douglas Hearon CA
Russell Jakala IL David A. Johnson PA
Kathleen M. Kostelnik OH Ma Siew Leong Singapore
Lee Lynn Lin Malaysia Loke Yeu Ling Malaysia Colleen M. Lussier MA Susan L. Murphy NY Andrew M. Reder PA
William S. Regenold, III TN Larry Paul Rich, Jr. TN Matthew V. Royer OH
Earl E. Runcan OH Paul R. Schwabe NJ
Koh Kok Seng Singapore
Syed Shakir Malaysia Jean Showalter CA
Krishan Singh Malaysia Dennis R. Streich WA
J. Mark Terrett OH Gene E. Utterback MD Richard E. Villers OH
Yvonne Tang Choi Wah Malaysia Cory D. Williams MD Bill Wong Malaysia
Richard W. Woods WA Tung Sook Yee Malaysia
Miyi Chee Mee Yee Malaysia Poon Onn Yuen Malaysia
Forrest Wallace Cato Jeffrey Chiew
Ed Ledford Ed Morrow
Len Pappas Jeff Rattiner Rubin Ruiz
Dora Siegferth
Timothy Taylor Stephen Visser Jim Whitehead
Don K. Williams
