In This Issue:
- Sales Idea
- The Latest From Washington
- NAIFA-Florida President’s Message
- Registration Open For Virtual Sales Symposium: July 13-17
- 2021 Legislative Day on the Hill Set for March 8-9
- Virtual CE Classes Now Available thru NAIFA-Florida and Local Chapters
- NAIFA-Florida CE Opportunities
- Welcome New & Returning Members!
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Communications Tips for the Covid-19 Crisis
The Covid-19 pandemic and collapsing oil prices have sent financial markets into a free-fall. A crisis of this nature shows financial advisors are more critical than ever, says Andrea Lekushoff, president of Toronto-based Broad Reach Communications — and it also requires a strong communications plan.
“This is a difficult time for everyone, and everyone reacts so differently,” Lekushoff says. “It is important to be proactive and reach out. Let your clients know you are here for them.” The downturn has sparked anxiety for many investors, including younger clients who have been riding the bull market for years. Lekushoff recommends the following approach to communicating with clients as the Covid-19 crisis unfolds.
1) Reach out and check in
Call your clients. Don’t email them and don’t avoid their calls. According to Lekushoff, a personal touch is extremely important. “The markets are certainly in turmoil right now, but this is a time to show your clients that you are here, and you care,” says Lekushoff. Ask your clients how they are doing, both personally and professionally. “Ask about their families, their neighbors, their colleagues, and their companies,” she says. “There are so many people coming together, it’s no longer about how they are, it’s about how this has impacted their community.”
2) Be honest — and listen
Be upfront with clients about their portfolios, says Lekushoff.“Don’t sugar-coat that the market has lost value,” she says. “Let them know that at some point things may stabilize, but they may fall again. The more they hear from their advisor up front, the sooner they can start to deal with the realities of the situation.” And be ready to hear them out. Your clients will likely have a lot of questions and it is important to answer them to the best of your ability. Shock will shift into worry about a wide range of issues. Clients might be concerned about being laid off or about future income. If they are entrepreneurs, they may be worried about losing contracts or laying off employees. Or they may be worried about their health if working from home is not an option.
“The more you understand your clients’ concerns, the more you can help advise them on their portfolios,” says Lekushoff.
3) Respect clients’ comfort levels
It’s important to prepare for unpleasant conversations. Many clients’ portfolios have significantly decreased in value, and some may blame their advisor. Respect that some of your clients may not want to speak with you right away. There are various stages in accepting a situation such as this, and if and when a client wants to reach out, they will. “Don’t take it personally,” says Lekushoff.
4) Follow up
“This is a chance to really reinforce that you care,” says Lekushoff. Take notes and ask follow-up questions every time you speak with a client. Show them that you acknowledge their concerns and that you care. Most importantly, let your clients know that you are doing everything in your power to protect their wealth and investments. “We’re all in this together,” says Lekushoff. There are a number of Covid-19 action plans circulating from consulting firms, and Lekushoff recommends sharing them with your entrepreneurial clients.
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Congress Working on PPP – Other NAIFA Issues in the Works, Including Health Insurance and Retirement Savings
by Dani Kehoe, Counsel to NAIFA
The House of Representatives passed a bill, H.R.7100, that modifies the Paycheck Protection Program (PPP) to extend the program and to make PPP loan forgiveness easier for borrowers. And Sen. Mitch McConnell (R-KY), the Senate’s Majority Leader, said the Senate could be ready to make decisions on a new coronavirus crisis response bill “within about a month.” So, the legislative pace has slowed, but the effort continues. Details, as we know them as of now, are below.
Read More
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The Silver Lining
by Joseph Chalom, CLU, RICP, LUTCF, LACP
As I write this article our state is being challenged by a deadly pandemic, social unrest and of course hurricane season. Our humanity is being tested. Fortunately, we have a profession, with the primary goal of helping others define and achieve their goals. Our mission of helping others is the reason the financial services profession is woven into the American fabric.
Our professional association has struggled to adapt to the change impacting our lives every day. The changes we have made has created a stronger NAIFA Federation. NAIFA’s Impact Week is a shining example of how we pivoted from the cancellation of our Congressional Conference, in Washington, DC to an opportunity to educate more agents and financial advisor members and non-members. The session on diversity helped us understand that diversity makes us a stronger and more powerful organization. The session on advocacy highlighted the importance of having relationships with legislators and regulators. The session on leadership provided an opportunity for us to sharpen our saw.
Our mission is never been clearer. We help shape the financial image of our client’s lives while advocating for the right to do so. The National Association of Insurance and Financial Advisors is merely the vehicle that enables us to focus our common voice to achieve our mission.
NAIFA is continuing to innovate the delivery of valuable content to members through virtual presentations. Visit
https://belong.naifa.org/townhalls
for the calendar of events. Visit
www.naifa-florida.org
to learn about events in Florida, including live online continuing education.
Get engaged in the member to member campaign, just to say we care and to make certain our members are aware of all the valuable resources available through NAIFA and NAIFA-Florida. If you would like to participate in the campaign email
[email protected]
and put
WE CARE
in the subject line. Please include your contact information. A member of our team will reach out to you with more information.
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Idea Incubator
NAIFA-Florida members are dedicated and passionate people who care about making a difference in the lives of our clients and future clients. NAIFA-Florida exists to advocate for you and your clients. You are our greatest asset. I know you have great ideas to share on how to make NAIFA-Florida even better. I look forward to reading your best idea. E-mail your idea to
[email protected]
.
You are the Silver Lining of NAIFA-Florida. Together we make a difference!
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Featuring top industry speakers offering sales ideas and motivation, NAIFA-Florida is offering a free Virtual Sales Symposium the week of July 13-17! Each day -- Monday thru Friday beginning at noon (ET) -- will feature a special guest speaker with new and exciting presentations. Hosted by NAIFA-Florida President Joe Chalom, and sponsored by corporate partner The Rosenthal Agency, the event will be presented by way of the Zoom meeting platform.
Monday, July 13
:
“Get More Qualified Sales Appointments in the Next 24 Hours”
— Wendy Weiss — Bars and restaurants are closed. The stock market is in flux. You may be working from home or perhaps you are finally back in your office. It is a new normal. A few months ago, you were out and about, meeting with clients, meeting with prospects, and networking… That is difficult to do right now. So, how are you going to grow your book of business? Join Wendy Weiss, The Queen of Cold Calling™ in an information-packed, live, online training experience!
Tuesday, July 14
:
“SENSE-ational Client Service”
—Bryon Holz, CLU, ChFC, LUTCF, LACP — Bryon will share his unique and powerful client and prospect engagement strategies, utilizing the full palette of senses. Learn how improved connections and strengthened brand messaging can cut through modern media clutter, resulting in more informed, more satisfied, longer-lasting client relationships. Don’t miss this long-time NAIFA leader’s SENSE-ational presentation, Bryon’s Best!
Wednesday, July 15
:
“Business 101: Advice and Strategies That Will Kick Your Business Up a Notch!”
— Susan L. Combs — Hear Susan discuss advice she learned along the way as well as strategies she’s put in place to develop her teams, built a brand through Social Media, attracted a Millennial Workforce and found alternative sources of revenue to take her company to the next level!
Thursday, July 16
:
“Countering the Effects of Market Volatility”
— John Wheeler, CFP®, CLU, ChFC, CRPC, LUTCF — A senior partner at MassMutual, John addresses a very relevant topic right now – a volatile market and how to counter its effects. He’ll share strategies for hedging market volatility, how to understand the dangers of average returns, and how to deal with the restrictive nature of traditional planning.
Friday, July 17
:
“Networking and Prospecting to Success”
— Dick Cleary — Whether you’re a new or a seasoned advisor, Dick will walk you thru some remarkable ways to think about networking and prospecting! New ideas abound as successful networking and prospecting are your keys to financial growth. Dick’s the Founder and President of FSEdNet – the Financial Services Educational Network – so you’ll want to make sure you sign up for this one!
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Mark your calendars for March 8-9 for the 2021 NAIFA-Florida Legislative Day on the Hill in Tallahassee. Once again, all members are invited to attend and visit with your state legislators -- in group fashion – to discuss issues and legislation important to our industry. Our lobbyist Tim Meenan always stresses the importance of a very strong showing at DOH, to demonstrate the strength of NAIFA-Florida before our elected officials at the capitol. Prior to your appointments with legislators, Tim will review the most important bills and talking points, and their impact on our industry and on our careers! Our Legislative Day on the Hill cocktail reception and dinner is always popular – allowing time to catch up with friends and fellow members. Watch for complete registration information this fall. Remember, mark your calendars for Monday-Tuesday, March 8-9, 2021.
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Virtual CE Classes Now Available thru NAIFA-Florida and Local Chapters
NAIFA-Florida and select local Chapters are partnering to bring online CE classes to NAIFA members across the state -- during this time of Covid-19 social distance and self-quarantine. Members are invited to register for and participate in these online offerings as a means to avoid in-person classes during these challenging times. Note that some classes may have fees associated with them. For an ongoing list of virtual classes offered statewide, please visit the NAIFA-Florida website (
www.naifa-florida.org
) and watch your NAIFA-Florida emails as more virtual classes are offered.
1)
Thursday, June 4 (8:30 a.m. to 1:30 p.m.)
–
“5-Hour Mandated Law & Ethics Review for Life & Health Agents Webinar”
Offered by NAIFA-Palm Beaches.
This course has been approved by the Florida DFS for five (5) hours of credit, Authority Line 5-215 (Life, Health, Variable Products Combo). Intermediate level.
Provider #697; ID 110641 Offering #1125778 .
Login opens at 8:15 am
Fee: $40/member; $45/allied org member (WIFS, HUA, SFSP, or FPA); $50/non-member
2)
Tuesday, June 16 (Noon to 1:00 p.m.)
–
“The Art of Long-Term Care – Virtual Class”
Offered by NAIFA-Florida and NAIFA-Central Florida.
This course has been approved by the Florida DFS for one (1) hour of credit, Authority Line 9900 (Generic Life, Health, and Variable Products). Intermediate level.
Provider #371304; ID 113045; Offering #1125887
Fee: No charge for members; $15/non-member
3)
Thursday, June 28 (11:00 a.m. to Noon)
--
“Tips & Tricks for Successful E-Mail Marketing – The Power of the Inbox”
(NOTE: No CE credit for this class)
Offered by NAIFA-Tampa.
Not approved for Florida DFS Continuing Education credit, due to topic -- sales.
Fee: None -- free to both Members and Non-members.
Watch for more virtual class to be offered in coming weeks and months – from NAIFA-Florida and our local Chapter partners.
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While many of our members may not choose to be in the office, or otherwise are self-isolating at home, we realize that your Florida DFS continuing education requirements are still in place. Please see below for a list of virtual CE and professional development opportunities – so you’re able to stay compliant during this challenging time.
Kaplan Educational – Online Classes for NAIFA-Florida Members -- 15% discount
A corporate partner, Kaplan Educational is offering NAIFA-Florida members their Total Access CE package at a 15% discount – only $33.15! It’s the most economical and efficient way to satisfy CE requirements for both
Life & Health
and
Property & Casualty
. This package is geared for the self-study learner who wants to earn CE over a longer period of time:
· 365 days of unlimited access to Kaplan’s unmatched library
· Immediate results with instant exam scoring
· The ability to retake exams as often as needed
· Interactive CE tracking system
· Printable certificates
· CE submission to one state
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Welcome New and Returning Members!
NAIFA-Florida would like to welcome new members and returning members to the association – for the month of May. Current members, please feel free to extend a personal welcome to these new and returning members! Click
here
for the complete list, to be found on the NAIFA-Florida website.
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