In a different world, there are different ways to approach the way you communicate with clients about their coverage. In this episode, MDRT members share how they have adjusted discussions of unemployment, retirement and more.

You’ll hear from:
Lam Pui Ka
Brad J. Myers
Leena Parwani, MBA, Cert CII

Episode breakdown:
0:34 – A difficult lesson about non-disclosure cases
7:22 – Revising plans for older clients who have lost their jobs
13:44 – Reframing the pandemic as a preview of retirement
16:05 – Figuring out how to explain the benefits of insurance to someone who doesn’t believe in it

Find more resources to help you focus on the here and now: rz.mdrt.org/productivity-kit/

Listen to the monthly series, MDRT Presents: @mdrtpresents

How the pandemic changed how I discuss insurance

If you want a particular type of referrals, first you need to make sure your clients know who those people are. Then you need to follow through and take time to establish relationships. In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey share how you can meet and work with more clients in the high-net-worth space.

Episode breakdown: 

0:27 – Being selective about who you ask for HNW referrals
3:50 – The importance of the phrase “The timing isn’t right”
5:05 – Refining the process of identifying your ideal client
6:32 – Adjusting your language as you gain experience
8:56 – A surprising experience with a referral
10:52 – Making sure valued clients don’t think you don’t want to work with them anymore

Listen to the monthly series, MDRT Presents: @mdrtpresents

How to be referred to more high-net-worth clients

How do you make sure you are conducting yourself appropriately with clients and prospects at events? How do you adjust your approach between in-person and virtual events? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey share how you can utilize a variety of events to expand your practice.

Episode breakdown:

0:32 – Benefiting from virtual events and developing business friendship
2:45 – Establishing comfort levels for an event
5:02 – Nuances involved in managing these relationships
8:20 – Remembering to have patience and build trust
11:32 – The benefit of small events vs. large events
15:48 – Learning from mistakes at past events
18:45 – Applying these lessons to virtual events

Best practices to generate referrals through events

Not every client takes your advice or puts a plan in place when they need it. In this episode, MDRT members share difficult experiences and what they learned for next time.

You’ll hear from:
Yakov Baylis, CLU, ChFC
Edward M. Burnett, RICP
Russell L. Clousing, ChFC, CLU

Episode breakdown:

0:33 – When a client rejects or misuses your advice
3:21 – What I changed to prevent future recurrence of problems
4:08 – When tragedy follows inaction
6:25 – Learning not to respond to a challenging email so quickly
9:35 – How different forms of communication relate to documentation

Listen to the monthly series, MDRT Presents: @mdrtpresents

A time when I failed with a client

How do you handle difficulties in your practice that come from generational disagreements? Or from clients whose behavior can be draining on you? In this episode, MDRT members share their challenges and strategies to handle them.

You’ll hear from:
Peter Jason Byrne
Danielle J. Genier, CFP, CLU
Jonathan Godshall Camacho, LUTCF, MBA
Randall D. Kaufmann

Episode breakdown:

0:34 – Reconciling generational challenges and client service moving forward
2:11 – Changing processes rather than changing individuals
4:25 – Adapting approaches when working with your spouse
6:32 – Handling clients who refuse to listen to your budget recommendations
10:02 – Maintaining calm when a client becomes overwhelming

Listen to the monthly series, MDRT Presents: @mdrtpresents

A specific challenge I have with a client or staff member

How do you explain to a client why their coverage was denied? Or to a person close to you that they urgently need more coverage? In this episode, MDRT members explain how they share necessary information to handle challenging conversations.

You’ll hear from:
Yakov Baylis, CLU, ChFC
Edward M. Burnett, RICP
Russell L. Clousing, ChFC, CLU

Episode breakdown:
0:33 – Talking with a client who wants you to accept blame for their coverage being declined
1:44 – Helping clients with a family member who has long created problems for you
3:34 – Explaining the reason for a fee for financial planning  
6:03 – Advocating to your own parent about the need for more coverage

Listen to the monthly series, MDRT Presents: @mdrtpresents

Clarifying important information with difficult clients

If you give a gift to a high-net-worth client, you want to make sure it’s something they actually want — and something they aren’t receiving from everybody else. In this episode, MDRT members explain how they identify what this particular clientele would appreciate from you and how to deliver that with sincerity and impact.

You’ll hear from:

Aaron Kane, AFA, B Bus
Adam Thomas Rex, AIF, CFP

Episode breakdown:

0:25 – Avoiding repetition in gifting
1:54 – Recognizing when high-net-worth clients are charitably inclined  
4:43 – Generating client buy-in and fun with regular initiatives
6:06 – Embracing spontaneity for client gifts

Listen to the monthly series, MDRT Presents: @mdrtpresents

Unique gifts I give high-net-worth clients

What are the keys to ensuring your team is on the same page? What conflicts can arise without this structure and connection in place? In this episode, MDRT members share how they benefit from a staff that runs on clarity, process and positivity.

You’ll hear from:
Carla Brown, FPFS
Matthew Richard Duffy, LUTCF, FSS

Episode breakdown:

0:26—Learning how staff members like to be communicated with
1:23—Establishing systems so everyone knows what to expect
2:12—When team members aren’t on the same page about communication
4:03—Defining consistency and unity to avoid surprises or tension
6:01—Spotting red flags for a candidate that could be a poor fit with the team

Listen to the monthly series, MDRT Presents: @mdrtpresents

Steps to create consistency through communication and culture

Can you treat an entire family as if they are an individual client? What decisions might be forgotten in how one generation’s decisions impact another’s? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey explain how they navigate relationships among multiple generations.

Episode breakdown:

0:27—Seeing family members as separate clients rather than one unit
1:56—Establishing part of a generational plan that can go overlooked
4:44—Creating a pipeline for a younger client base that’s just as loyal
7:31—Handling a multi-generational referral that may be less than ideal
9:28—Navigating delicate relationships within families

Listen to the monthly series, MDRT Presents: @mdrtpresents

Overcoming challenges related to multi-generational referrals

Every advisor wants to help their team perform at its highest level. But how do you actually do that in the short term and evaluate that in the long term? In this episode, MDRT members share techniques for maximizing the way their practice performs as a team.

You’ll hear from:
Aaron Kane, AFA, B Bus
Adam Thomas Rex, AIF, CFP

Episode breakdown:

0:28–Defining goals and specific ways to execute them
2:52—Creating clarity from a sense of ownership
5:14—Converting in-person meetings to discussions on a virtual whiteboard
7:34—Benefiting from team members setting their own success factors
10:17—Developing a way to evaluate those success factors

Listen to the monthly series, MDRT Presents: @mdrtpresents

How my staff reviews our performance and pursues efficiency

What should you say — or not say — to clients who are especially vulnerable? In this episode, MDRT members explain how they support clients going through particularly challenging times, whether it’s a death, divorce or otherwise.

You’ll hear from:
Alessandro M. Forte, DipPFS, CSP
Renee Hanson, CFP, CDFA

Episode breakdown:

0:32—Learning about the importance of not making assumptions
2:50—Developing a process for working with vulnerable clients
8:26—Adapting to circumstances outside of the norm
9:48—Recognizing that lifequakes can be both big and small

Listen to the monthly series, MDRT Presents: @mdrtpresents

Caring for clients who’ve experienced a lifequake

What can you offer clients as a way to say thank you? What item or event will get them talking about you? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey explain how to successfully utilize gifts – pending compliance approval – and other initiatives to enhance relationships and drive referrals.

Episode breakdown:

0:28 – Matching intangible products with tangible gifts
1:41 – Identifying a range of ways to say thank you – and drive referrals
5:05 – Distinguishing between a gift and a promotional item
8:24 – Creating different opportunities for client appreciation
10:44 – Ensuring that you’re being referred to the right people

Listen to the monthly series, MDRT Presents: @mdrtpresents

Generating the right referrals while offering incentives

How do you gather information from prospects and clients in a way that showcases your own expertise? Should you do advance research? In this episode, MDRT members share their best practices for generating the trust that leads their specific clientele to open up.

You’ll hear from:

Joseph Tan, ChFC, CLU
Abigail Venida Yabot

Episode breakdown:

0:28 – Doing research to find common interests and generate trust
1:31 – Ensuring you prioritize both character and competence
3:01 – Utilizing social media as a guide for prospecting
5:53 – Staying top-of-mind with potential clients who are parents
8:00 – Demonstrating expertise with couples

Listen to the monthly series, MDRT Presents: @mdrtpresents

How I match my fact-finding to my target market

How do you utilize technology, consultants or otherwise to improve and expand your practice? In this episode, MDRT members explain the approaches they embrace and the benefits that result.

You’ll hear from:
Aaron Kane, AFA, B Bus
Adam Thomas Rex, AIF, CFP

Episode breakdown:
0:29 – Streamlining and automating using technology
2:25 – Utilizing training boards via Zoom to create training manuals
5:03 – Innovating through business planning and new ways to reach clients
9:02 – Increasing social media content, particularly video
10:36 – Determining what information to share in video content

Listen to the monthly series, MDRT Presents: @mdrtpresents

Developing processes for enhanced client service and staffing performance

How do you ensure that you and a potential client are on the same page about your relationship? In this episode, MDRT members explain how they communicate the essential information and decide what steps to take next.

You’ll hear from:
Alessandro M. Forte, DipPFS, CSP
Renee Hanson, CFP, CDFA

Episode breakdown:
0:29 – Communicating the two goals for the initial meeting
1:55 – Creating accountability in the prospect for the advice you give
3:24 – Determining whether or not you and a prospect are a good match
5:01 – A common mistake advisors should be aware of

Listen to the monthly series, MDRT Presents: @mdrtpresents

Establishing the rules of engagement with your prospect

Advisors know the importance of seeking to understand each client as an individual. In this episode, MDRT members explained how they work to recognize and support the cultural backgrounds of their clientele, whether that resembles their own experience or not.

You’ll hear from:

Xiao Chen
Chad Demarre
Maria Josefa Garcia

Episode breakdown:

0:27—Why translation needs to be done by someone in the business
2:21—How perspectives on life insurance can change based on personal background
3:03—Changing your approach based on new prospect experiences
3:50—Understanding how cultural differences can lead to different perceptions
4:53—Recognizing how past experience could influence current opinions

Listen to the monthly series, MDRT Presents: @mdrtpresents

What advisors might not know about working with a culturally specific niche

How do you understand clients’ needs so that they see you as someone who can help them, rather than someone who is selling to them? In this episode, MDRT members explain how they establish these strong connections that can unlock the effective technique of “unselling.”

You’ll hear from:
Joseph Tan, ChFC, CLU
Abigail Venida Yabot

Episode breakdown:

0:27 – Focusing on the client’s magic numbers
2:41 – Recognizing the impact of unselling
4:17 – Serving as the “prudent mom” for clients
7:38 – Learning retirement lessons from a colleague’s experience
11:36 – Becoming a godparent to clients’ children

Listen to the monthly series, MDRT Presents: @mdrtpresents

Using the power of unselling to finance education and retirement

How do you turn business growth from a dream into a reality? In this episode, referral coach Bill Cates and MDRT member Tristan Karl Robert Hartey explain how to push through reluctance and establish a time-tested system for expanding your clientele.

Episode breakdown:

0:30—Overcoming fears about asking for introductions 
2:16—Benefiting from repetition and getting outside your comfort zone
3:30—Identifying your goals and finding your right-fit client
4:17—Developing a process and practicing it enough to be successful
5:53—Learning from the world’s best athletes

Listen to the monthly series, MDRT Presents: @mdrtpresents

Quick steps to gain more clients and referrals

Buying a practice requires research, communication, and much, much more. In this episode, MDRT member D. Kyle Atkins, CFP, CLU, and president of Succession Resource Group David Grau Jr. explain essential ways for you to set the course for business acquisition success.

Episode breakdown:

0:35–Dedicating the necessary time for each step in the process
2:55—Developing simplicity and know-how
3:18—Establishing both clarity and cultural fit
5:11—Asking questions and listening, just as you would with a client 
7:44—Adapting when a seller changes their mind about something

Listen to the monthly series, MDRT Presents: @mdrtpresents

Expert insights about what to do in an acquisition

Even the most successful advisors continue to embrace change and create excitement for the future. In this episode, MDRT members share what they’re innovating and how these ideas will enhance their business.

You’ll hear from:
Aaron Kane, AFA, B Bus
Adam Thomas Rex, AIF, CFP

Episode breakdown:
0:27—Developing adjustments for a new office 
2:02—Creating marketing around a major milestone
3:12—Establishing a process to generate Google reviews from clients
4:46—Building Zoom rooms and investing in technology

Listen to the monthly series, MDRT Presents: @mdrtpresents

Something coming up that I’m excited about in my practice

Even veteran advisors continually learn new communication techniques in pursuit of making clients comfortable and willing to share their feelings. In this episode, MDRT members identify situations in which clients have been especially open (or had difficulty opening up), and what that taught them for conversations moving forward.

You’ll hear from:
Alessandro M. Forte, DipPFS, CSP
Renee Hanson, CFP, CDFA

Episode breakdown:
0:31—Starting a podcast as a way of sharing memorable client stories
2:24—Discovering people’s universal interest in talking about problems and successes
5:54—Identifying an opportunity to help women in transition
9:10—Learning how to communicate with clients during an awkward moment
10:49—Seeing the benefits of vulnerability during conversations

Listen to the monthly series, MDRT Presents: @mdrtpresents

Unique insights about what makes clients open up or shut down

How can you ensure that you have a successful start to 2024? What should you keep in mind throughout the year to maintain consistent success? In this episode, members of the MDRT Executive Committee explain how they prepare for the arrival of January and keep a steady perspective on their processes regardless of the month.

You’ll hear from:
MDRT President Gregory B. Gagne, ChFC
MDRT Secretary Clay Gillespie, CIM, CFP
MDRT First Vice President Carol Kheng, ChFC
MDRT Second Vice President John F. Nichols, CLU, MSM

Episode breakdown:
0:34—Planning for the new year before it starts
2:48—Beginning January with focus and a fast pace
6:43—Avoiding a sense of starting over as the year begins
8:26—Applying learning from January 2023 to January 2024
15:39—Remembering to make thoughtful decisions in January

Listen to the monthly series, MDRT Presents: @mdrtpresents

How MDRT Executive Committee members start the year off right

What can advisors do to confirm that clients are not just listening but processing the information that has been discussed? In this episode, MDRT members share communication techniques that help keep everyone on the same page and prevent confusion or frustration on either side.

You’ll hear from:
Joseph Tan, ChFC, CLU
Abigail Venida Yabot

Episode breakdown:

0:22 – Presenting an amount of information that won’t overwhelm clients
3:12 – Maintaining clarity by giving clients three types of advice 
6:36 – Creating trust to drive understanding when it feels like clients aren’t listening
8:20 – Recognizing when something is missing from the client’s ability to move forward
10:19 – Making sure to give clients ownership over their decisions

Listen to the monthly series, MDRT Presents: @mdrtpresents

How I ensure that clients understand their finances

How do you streamline the many challenges that occur as a business is acquired? In this episode, MDRT member D. Kyle Atkins, CFP, CLU, and president of Succession Resource Group David Grau Jr. share techniques they’ve learned to help minimize roadblocks and pursue success and happiness between buyer and seller.

Episode breakdown:

0:38 – Steps to simplify both quantitative and qualitative questions
3:07 – Best practices to retain clients after an acquisition
5:23 – How to figure out challenging timelines regarding payment
8:43 – Learning from internal and external acquisitions
10:12 – Considering certain compromises because of the size of a practice

Listen to the monthly series, MDRT Presents: @mdrtpresents

Smoothing out some complexities of business transition

What do you say when clients want you to resolve family conflict or say something that they are struggling to communicate? In this episode, MDRT members share how they maintain harmony, professionalism, and service when faced with some potentially uncomfortable situations.

You’ll hear from:
Aaron Kane, AFA, B Bus
Adam Thomas Rex, AIF, CFP

Episode breakdown:
0:24 – Handling a difference of opinion between parents and their child
3:11 – Being asked to encourage someone toward retirement
6:50 – Determining how to reset client relationships
9:41 – Developing two different models of service

Listen to the monthly series, MDRT Presents: @mdrtpresents

How I navigate awkward conversations with clients

While many advisors recognize the benefits of partnering with other professionals to help their clients, doing that successfully often requires practice and adaptation. In this episode, members of the MDRT Executive Committee explain how they have learned to identify and thrive in these collaborative circumstances.

You’ll hear from:
MDRT President Gregory B. Gagne, ChFC
MDRT Secretary Clay Gillespie, CIM, CFP

Episode breakdown:
0:25 – Levelling up by finding a mentor
0:57 – Recognizing when someone else is better at something than you
2:09 – What to do when someone else can be more helpful to your client
2:55 – Serving your clients best by focusing on what’s in your area of expertise
3:40 – Creating a process to systematize what you do best
4:57 – Setting expectations with clients at the beginning of your relationship

Listen to the monthly series, MDRT Presents: @mdrtpresents

What to do and not do for joint work

Unsure of how to handle incoming government regulation? Out of fresh prospecting ideas? Hear tips from Top of the Table level producing members and more in this newest episode. 

Featured in this episode are Van Mueller, LUTCF, Michael L. Weintraub, CLU, Micheline Varas, RHU, Simon Singer, CFP, RFC, and Susan Catherine Paterson, FChFP. 

This example is for educational purposes only. Each professional should set his own terms and conditions of engagement with the client through the process of negotiation.

The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal information and is not liable for errors or omissions. You are urged to check with tax and legal professionals in your state, province or country. The MDRT also suggests you consult local insurance and security regulations and compliance departments, pertaining to the use of any new sales material with clients. Copyright 2015 Million Dollar Round Table.

Episode 4: Top of the Table Tips

How do you identify the opportunities for improvement in your business, and how do you hold yourself accountable? In this episode, MDRT members talk about how coaches have helped their business, and how they determined who those guides should be.

You’ll hear from:

Clay Gillespie, CFP, CIM
Daniel O’Connell, MBA

Episode breakdown:

0:24 – Why do you use a coach?
1:14 – How do you pick a coach?
2:41 – What changes have you seen as a result?
4:01 – The challenge of self-awareness
5:41 – Aligning with the right person
7:08 – What are you worried about?
8:13 – Did the coach’s findings surprise you?
9:17 – The power of accountability

Listen to the new monthly series, MDRT Presents: @mdrtpresents

Why you should hire a coach and how to find the right one

What do you do if employees don’t work out the way that you expect? What’s the lesson from a staff member who doesn’t know to put a stamp on a letter? In this episode, MDRT members explain difficulties they have encountered and what they have gained from these experiences.

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:
0:27 – Refining the job description to find the right person to replace departing staff
1:57 – Realizing the problems caused by continually extending a staff member’s probationary period
4:08 – Improving team camaraderie by removing a problem employee
4:33 – Learning that not everyone knows what you think they know
6:38 – When a new hire seems great but turns out not to be so great
8:39 – Adapting to things that aren’t done the way a team member says they are
10:36 – Changes being made to ensure hiring success in the future

Listen to the monthly series, MDRT Presents: @mdrtpresents

How advisors overcome staffing challenges

Similar to “Goldilocks and the Three Bears,” there are ways to discuss insurance coverage that are too hot, too cold, and just right. In this episode, MDRT members share how they make sure their conversations and questions establish the right tone with clients.

You’ll hear from:
Everett Revere Foxx
Steven Genoff, CFP
Brandon Green, ChFC, CLU
Dana Mitchell, CLU, CFP

Episode breakdown:
0:33 – Opening the conversation and learning about others they know who have been affected
1:25 – Establishing the implications of not creating this coverage
2:23 – Recognizing the responsibility of the advisor to be bold and ask thought-provoking questions
3:02 – An approach to questioning that is too soft
3:52 – An approach to questioning that is too harsh
5:32 – How to ask follow-up questions when you want to know more
7:24 – Why you want the client to see you as a teammate, not an opponent

Listen to the monthly series, MDRT Presents: @mdrtpresents

MDRT is proud to support the Help Protect Our Families initiative: https://www.limra.com/helpprotectourfamilies

Is it necessary to scare clients about income replacement?

In this EXCEL Award-winning series, hear thoughts and suggestions from top MDRT members on issues that financial and insurance professionals encounter in their careers. 

Contact us at podcast@mdrt.org. MDRT diversity statement: https://www.mdrt.org/diversity-statement

The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal information and is not liable for errors or omissions. You are urged to check with tax and legal professionals in your state, province or country. The MDRT also suggests you consult local insurance and security regulations and compliance departments, pertaining to the use of any new sales material with clients. Examples are for educational purposes only. Copyright Million Dollar Round Table.

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