Your physician and your financial adviser: Two peas in a pod?

By Jeffrey Reeves MA

EUREKONOMICS[tm]


Insurance and financial advisers are professionals
It appears that some doctors and financial advisers take the same training. They seem to have tunnel vision; they tend to focus on symptoms and overlook the root causes that create the symptoms. The TV drama "House" is an exaggerated example of a doctor who looks deeper.

Unfortunately, there is no TV drama that illustrates how a good insurance and financial adviser deals with clients and looks beyond the obvious. Much of what America sees and believes about the people in our profession is derived from media attention paid to crooks and thieves — Bernie Madoff, Lehman Brothers, Fannie Mae, Freddie Mac, AIG, etc. That creates a distorted picture. There are thousands of honest, intelligent, well-informed and well-educated insurance and financial advisers across America.

Insurance and financial planning vs. personal economic models
The sad truth is that many advisers behave less like the hero on "House" and more like his antagonists in the TV drama — they rely on conventional wisdom and planning systems. This situation presents a challenge to hard-working Americans and small business owners who, by virtue of their hard work and commitment to success, deserve better.

How can Americans sort through the tsunami of insurance and financial advisers who approach them on a regular basis via the phone, the mail and through Madison Avenue's advertising?

The short answer is for the adviser to employ an economic model that is as old as money, as current as the 21st century, and delivers guaranteed results with uncompromising integrity. The simple truth is that many of the planning systems that advisers use are rigged to produce a specific result: the sale of the financial products of the Behemoth that designed the system. Remember, a 401(k), IRA, mutual fund, etc. are products, just like a sofa and an automobile are products.

If you remember just one thing, remember this: The difference between an economic model and financial planning systems is that an economic model is not bound by convention but, like Dr. House, looks deeper to establish the foundation for a financial plan.

The four essential questions an economic model must answer
An economic mode first asks and answers the four key questions that an insurance and financial adviser must answer for his or her clients before creating insurance and financial plans:
  • How does one reduce and eliminate debt and the cost of debt?

  • How can the business owner or individual accumulate cash to which s/he has easy access; which s/he can use at will for any reason; over which s/he has complete control — no banks, no IRS, no creditors?
  • How can a business owner or individual provide security today and income in the future?

  • How does s/he use business/personal income and assets to make sure s/he leaves a legacy of both wisdom and wealth to those s/he cares most about?
Believe there is a better way. It is an economic model that is both taught and practiced by hundreds — perhaps thousands — of insurance and financial advisers all across America, myself included. The economic model we are discussing goes by a variety of names 1 but invariably relies on participating whole life insurance as the indispensable foundation for every insurance and financial plan. I call it Eurekonomics™.

Imagine success
By answering these four essential questions for your clients, the Eurekonomics™ model:
  • assures your individual and small business owner clients of success

  • gives your clients the power that comes from eschewing conventional wisdom and looking deeply into their needs and wants

  • forges a strong relationship with those clients


1R. Nelson Nash’s The Infinite Banking Concept™, Pamela Yellen’s Bank on Yourself®, Len Renier’s Wealth and Wisdom, and Don Blanton’s Circle of Wealth® come to mind.