9 reasons consumers need advisors more than everArticle added by Paul Wilson on August 14, 2014
Joined: May 30, 2007
Van Mueller kicked off the 2014 Advisor Network Summit in Las Vegas with a bang. In his usual rapid-fire manner, he bombarded attendees with a series of facts, figures, stories and a plethora of sales ideas.
Here are a few of the best takeaways:
“Right now we are in the middle of the greatest opportunity in the history of the industry. Every single institution we think we can depend on won’t be there in the future. We’re not in a recovery – the government is printing trillions of dollars. Soon, you’re going to see crashes in stocks, bonds and real estate markets.
The world just went $100 trillion in debt. The U.S. is $17 trillion in debt, but the rest of the world is $83 trillion in debt – there’s no one to borrow from.
We’re so close to a calamity and the only people who can help are in this room."
"The attention span of an average American is 12 seconds. No commercial is longer than 30 seconds now because people don’t pay attention that long.
Nobody cares about you; it’s about them. Customers tell me, 'You’re the smartest advisor I know.' But I don’t know anything other than how to ask what matters to people."
"Don’t you think any politician would fix the economy if they could? But no one knows what’s coming next.
Ask your clients, 'If nobody knows what’s going to happen, should you take a lot of risk and put your money in danger or develop a strategy that will keep your money safe and every time something bad happens, you take advantage of it?'"
"Politics isn’t going to fix this; it’s a math problem. It’s about taking responsibility for our own lives. Show people they can stay in control. We sell control."
"45 percent of all working Americans have nothing saved for retirement. When you are talking with affluent prospects, ask them, 'Do you think our government is going to let those people starve? No. How will they help them? They’re coming after those who have money.' You’re running out of time to take control of your money and lives.”
“Half of Americans can’t afford their current home. One little downturn, and you’re talking about a house of cards. Tell your customers, 'It doesn’t have to happen to you.'”
"Some people say, 'This sounds like a lot of doom and gloom.' Many people give up and say, 'There’s nothing I can do.' Tell them, 'Have there ever been bad times before? During those bad times, did some people make money? Was it those who were prepared or those who winged it? Which do you want to be?'"
"Some clients say, 'My kids don’t appreciate the value of money.' I agree with them and then I ask, 'Does the government appreciate the value of our money? Do hospitals? Nursing homes?' At just 3 percent inflation, it will cost a quarter of a million dollars for long-term care in 24 years. Your kids and grandkids could learn the value of money pretty quick. Keep it in the family."
"There was no such thing as the good old days. This is the greatest transfer of wealth in the history of the U.S. It’s the greatest time ever to be an agent. You are not each other’s enemies. Find fellow advisors and get better."
For more live coverage from the 2014 Advisor Network Summit, visit www.LifeHealthPro.com/AdvNetSummit.
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