La Lamp mp - Hon ong g Kon ong Edward ard G De Deuts tschla chlander nder
Re Recruiti ruiting ng U Culture ulture Bu Buil ilder/Culture der/Culture Kee eeper er • Firm Culture, Philosophies • Recruiting • Selecting • Fast Start launch • Practice Development/Accountability/Coaching • Tools to develop leaders
Growin ing Leaders MDRT MEMBERS = 76 76 COURT OF TABLE = 11 11 TOP OF TABLE = 13 13 Est. Revenue $55,00 000,00 0,000 Life Premium in 2014 = $21,80 800,00 0,000 Annuities 4.5M Disability Income Premium $4,450 50,00 000 0 in 2014 Total assets under management $6,000 00,000 ,000,000 ,000+ Team members-142 142; Advisors 159 159 Fees $1,525 25,00 000 Offices = 41 41 in 18 states; GDC = $26,70 700,00 0,000 0 est.
MDRT Qualifiers 11x MDRT 2 10x MDRT 1 9x MDRT 1 8x MDRT 2 7x MDRT 2 5x MDRT 3 4x MDRT 6 Court (3x MDRT) 13 2x MDRT 22 MDRT Qualified 23 Aspirant 1 TOTAL 76
Su Succ ccess: ss: Drive vers rs — Whatev atever er you teach ch da day one, e, that t is what t ge gets s do done • Hard to easy vs. Easy to Hard (High activity learned first/100 cases) • Billable Hours • MDRT Culture • Miracle of Life Insurance- repeat! Self completing • Introductions/recommendation/Referral-- Culture • Cop, Coach, Consultant, Community/ MEMB EMBER ERS • “Win or Lose today” -critical numbers • Goals- What, How and WHY • Human Life Value • Fostering Business Owner/CEO mentality • Strangest Secret & Common Denominator of Success • Deserve victory mentality-hardest working team in the industry • Servant Leadership • Everyone needs someone to expect greatest from them
Changing anging Liv ives es, , Fo Forev ever er # 2015
Demographi emographic c Pr Prod oduction uction Br Brea eakdown kdown As of 12/31/13 Age Co Count TTM M GR GR TTM M SBC BCs <=34 61 6,986,052 5,879,290 35-44 33 11,227,962 6,364,983 45-54 16 11,612,580 5,068,168 55-64 21 11,237,154 5,211,288 >=65 17 2,104,217 886,794 148 148 43,167 167,964 ,964 23,410 410,523 ,523
2014 Average e Adviso sor r Earnings gs All Sources es 3,023, 023,324 324 3,023, 023,324 324 3,023, 023,324 324 3,023, 023,324 324 1,321, 321,834 834 907, 7,315 315 576, 6,749 749 371, 1,339 339 361, 1,413 413 221, 1,550 550 52,408 408 51,896 896 TOP 10 ADVISORS: TOP 50 ADVISORS: ADVISORS OVER 5 YEARS: BEYOND AFP: Average 2014 Income Min Max
2014 Average Advsior Earnings by Duration 3,050,000 2,550,000 2,050,000 1,550,000 1,050,000 210,053 133,107 550,000 73,146 525,708 40,713 205,708 84,509 301,178 50,000 1-2 Years: 2-3 Years: 3-4 Years: 4-5 Years: 5-10 Years: 11-15 Years: 15-20 Years: 20+ Years: -450,000 Average 2014 Income Min Max
REC ECRUITING UITING & S & SEL ELECTI ECTION ON Everyone is Seed Corn!
North Star Advisor Training Program Featured in Two Best Sellers!
Ma Malcolm colm Gl Glad adwell well “Teachers should be judged after they have started their jobs, s, no not b t befo efore. re. T That hat mea eans ns th the e pro rofes fessio sion n ne need eds to to sta tart rt th the e eq equivale ivalent nt of Ed Ed Deutschlander’s tr trai aining ning ca camp. p. I It t nee needs ds an an ap apprent prentice ice sys yste tem th that at al allows ows candidates to be rigorously evaluated.”
Retention: Factors Contributing to High Results High Retention Agencies/Firms attribute their success to: 1.A highly structured 6-10 step selection process — finding achievers vs survivors 2.A unique (compelling) culture of the Agency/Firm. 3.Initial training that focus on sales skills/process 4.Habits that are fundamental for success are clearly defined, inspected and monitored 5.Client-building skills measured quickly, impact vs performer. 6.Peer Accountability 7.Support: the availability of product, technical, marketing, practice management and joint work support 8.Post Selection : Is this the right train for you? Manage the “can - do” to “want - to” transition point. Achievers display a passion for the efficacy of “thank - less” work. (Advocacy)
Do well by doing good
Do o We Well By By Do Doin ing g Go Good od • Key Questions everyone needs to answer • 1) Why do you want to become a financial advisor? • 2) Are you ready to be a business owner? • 3) How will you build a clientele and network within your community? • 4) Do you believe in what financial advisors do?
Que uestions tions to as o ask k Can andidate didate • Read Do Well by Doing Good • Highlight what is resonating with you • Highlight what concerns you • Great way to identify which of the three “I’s” - Impact, Independence, and Income is most meaningful to them • Great way to find out what areas you need to dig deeper in terms of concerns- call reluctance, commission driven financial etc…
R.E.P.S P.S- We ca e can lea earn rn a l lot fro rom m what we al e alre ready dy know! w! Rec ecruit ruiting ng Emulate ates s the e Pro roces cess s of Sel elling g MDRT • Activity- telling your GREAT STORY to as many people as possible • Target Marketing- being somebody or something to someone • Recommendations- sy syst stem em of of ask sking, g, rec eceivi eiving, ng, fo followin owing g - up and d thank anking ing • Business Plan- st step eps, s, procedures, ocedures, sc script ipts s and d st strate ategies gies to o rea each ch on ones es goa oals ls and d ob objectiv ectives es-driv driven en by a VISION
Ex Exec ecutiv utive e Summary ummary Why would someone choose you?! Specifically your ideal/target candidate
R.E.P.S. “ This is is Wh s What at ma make kes s you ou Gr Great eat • Distinguish yourself by “how” you do it, not by “what” you do. McDonald’s – “I’m loving it!” Burger King - “Have it your way” Pitino- “The hardest working team in America!” • This is “how” we do it here Vision Values Culture
WH WHIC ICH H AD ADVI VISOR OR WO WOULD LD YO YOU SEL ELECT ECT? ME ME Administrativ Administr tive e Senior Senior Assistant Assistant Planner Planner
WHICH ADVISOR WOULD YOU SELECT? ME ME Advanced Life LTC Specialist DI Specialist Specialist Estate Planning Employee Benefits Tax Specialist Specialist Specialist Retirement College Education Financial Planning Planning Specialist Specialist Specialist Business Succession Specialist
Gifford Comprehensive Financial Solutions Associate Planner Senior Planner Marshall W. Gifford Justin Dering CLU, ChFC , CLTC Administrative Team Andrew Gifford Michelle Muthiani • Financial Planning Services Administrative Team 612 617 6041 • Wealth Accumulation Michelle.Huffman@northstarfinancial.com • Risk Management Jenna Blass − Life, Disability, Health 612 617 6143 Kelly Krabbenhoft • Debt Management Jenna.Blass@northstarfinancial.com Kelly.Krabbenhoft@northstarfinancial.com • Investment Planning − IRA’s, 529’s, Mutual Funds, Compliance & Supervision Business Processing ETF’s, Stocks and fee based Jay Pugh Therese Nett asset management Marianne Nippert Jennifer Willey Robert Kaufer, JD Chris Sitek, Scott Gislason, Carrie Jeff Landt, Cheryl & Tim Ann Elliott, CPA CLU, ChFC, JD, CPA, CLU, Hancock CFA Marks CLTC ChFC • Employee • Tax returns • Wills and Fee for • Estate Planning Investment Long Term Benefits Trusts Service • Wealth Specialist • Tax planning Health Care management & • Asset Financial • Group health, • Tax Planning distribution protection Plan Design life and projections • Risk • Contracts Chris.Sitek@ disability Management northstarfinancial. • Practice Scott.Gislason@ com Transitions northstarfinancial.com
We Sp Speci ciali alize ze in Yo You - People don’t join companies, they join people and causes! The Few and the Membership has its = + Proud/protect Privileges Culture
High Performance / No Excuse Culture.
Re Recruiti ruiting ng Mi Missi sion on We specialize in helping the 21-25 year old that wants to be in business for themselves — not by themselves — build a successful Financial Advising Practice! We S Spe pecializ ize in Y n YOU!
Ou Our Ph Phil ilosophy.. osophy... •The winners at 45…………. are are not very access essible ible •The winners at 35…………. are are more more accessible essible •The winners at 25 & 22…… are VERY accessible essible
Only Hire PH.D.’s P ersistent > H ungry > D riven >
Mi Mida das s To Touch uch • Business Owner Mentality/ Entrepreneur • Grade Point Average of: • 2.5 (C+) or better / 100% earned • 3.0 (B) or better / 50% earned • “Desired Position” Must Be Sales • Business Owner Mentality/Earned Better Than 50% of College Expenses • Previous Sales Experience/Internship • Extracurricular Activities Indicating Leadership & Competitiveness • Give to School = Give to Agency • Networking = Popularity = Rainmaker
The 5 E’s of Hiring • Ener ergy • Ethics ics • Enthus husiasm iasm • Work “Ethic” • Effor fort t & At Attitud itude
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