MDRT President Guy E. Baker, CLU, MSFS
Tuesday, August 24, 2010

It is hard to believe it has been 12 months since I became MDRT President.  As I look back on this year, much has been accomplished.  Probably the most significant achievements have been the addition of the income method of qualification and the simplification of qualifying for Life members.  The first initiative will allow advisors who no longer receive commissions to qualify based on total income.  The second makes qualifying much simpler for long time members. There were many other governance initiatives implemented this year to assure MDRT maintains its prominent position in the global industry.

I was afforded the opportunity to travel, literally around the world six times, visiting members and partner companies in more than 15 countries.  These meetings continued to build the prestige and presence of MDRT throughout our network of members.  Helping members learn valuable marketing and productivity concepts has been the major goal of Executive Committee travel.

As Julian Good takes over as president, I am confident the Executive Committee is positioned to build on the hard work and decisions of past administrations. MDRT is most fortunate to have an Executive Committee of competent and qualified leaders.  I know Julian will do a great job carrying on the initiatives that have been implemented in recent years.  MDRT is poised to continue their influence and positive value to members.  What a blessing it has been for me to serve on the Executive Committee and to be president this year.

Matt Thornhill, President and Founder of the Boomer Project
Tuesday, August 10, 2010

That’s right – there is actually an upside to the “Great Recession” if you’re willing to take advantage of it.  Approximately 35 million younger Boomers and GenXers in the U.S. don’t just need your help; they want your help in planning for a brighter future.  What better time than now to rebuild trust and confidence around financial planning?

The MDRT Generational Financial Confidence Study was conducted by the Boomer Project to learn who advisors and agents should be targeting today and what they are thinking.  The study concluded that less than 50 percent of Gen Y, Gen X and younger Boomers have confidence in their financial futures.  And, more than 85 percent of them now say it is harder to trust professionals they talk with about financial matters than it was five years ago. 

We specifically wanted to know how to customize communications for each generation to make a sale, land a new client and generally help consumers rebuild their trust and confidence in financial planning.  But first we learned that almost 90 percent of consumers surveyed of all ages say they are ready to talk about financial planning – and many do not have an advisor. Even those with one may not be confident in their plan.

In particular, younger Boomers and GenXers who do not currently have a financial advisor are receptive to using one if the advisor can customize their communications based on what each generation told us was a priority.  Advisors who demonstrate they understand the different priorities consumers in each generation have will achieve success in the midst of the “Great Recession.”

Be sure to visit the comprehensive research report to learn much more, including four key “takeaways” regarding what advisors should know and, more importantly, what advisors and agents should do. 

David E. Appel, CLU, ChFC
Tuesday, July 27, 2010

I have a confession to make. I hate asking for referrals. In fact, I won’t ask clients, neighbors, friends, or business associates for referrals even under duress. Although the concept of asking and receiving referrals seems easy and straightforward, it has always eluded me. I have always had a problem asking prospects, advisors, or clients for names of others they feel I could do business with. Now, I am sure you are wondering how I can consistently keep prospects and referrals flowing into my practice if I am unwilling to use one of the most efficient and effective business development techniques available to all of us.

At this year’s Annual Meeting in Vancouver, I shared some of the processes I have implemented that help me keep a constant flow of names on my “hit list” including cyberspace networking, charitable and community involvement, focused e-mail blasts, one-page prospect presentations and several others. Nothing is perfect. My practice has plenty of room for improvement, but having the people to see and be in front of is clearly the way to have continued success in this business. We can have all of the right designations and be as knowledgeable and sharp as we can on complicated tax strategies and insurance concepts, but if we don’t have a prospective client to tell our story to, all our knowledge will be fruitless.

What has proven effective for you in generating referrals? 

Feel free to access my Annual Meeting presentation in its entirety at http://ihs.mdrt.org/press2010/dAppel.cfm.

MDRT President Guy E. Baker, CLU, MSFS
Tuesday, July 13, 2010

The 2010 Annual Meeting in Vancouver has come and gone, and was it ever spectacular.  Over six thousand members and guests gathered in one of the most beautiful cities in the world to be regaled by wonderful stories, music and the sharing of ideas which have sustained production through very difficult times.

I have received numerous emails and letters raving about the meeting and the individual experiences each member enjoyed.  I would have to say, the meeting far exceeded our expectations as organizers – and those expectations were set very high. Congrats to all the volunteers who participated in the program – you were instrumental to its success.

MDRT is so unique in the way it gives our members a chance to give back, even if it is just a little, to such a great industry.  There was no greater example of this spirit of giving, than the Million Meal Challenge that took place at the Annual Meeting.  In just 72 hours, volunteers from all over the world stood side-by-side to package 1 million meals to be shipped to local food banks in Vancouver and to the impoverished in Haiti, India, Jamaica, Nicaragua, the Philippines and Tanzania. 

I was most touched by a story relayed to me during the meeting.  At one of the 80 packing tables, during the eight sessions set up to prepare these meals, stood MDRT members from Iran, Iraq, Pakistan, Israel and Turkey.

Imagine that, citizens of the world, from countries who have acrimonious political drama going on daily, working together to contribute their time and talent to a major world problem – hunger. Only at MDRT could global leaders in financial services work together to solve a humanitarian problem, despite the strong political differences in their countries.  What an example of cooperation.

If you are not currently joining in the fun, experience and life changing opportunity MDRT offers at the Annual Meeting, you are really missing out. You will never be the same after you attend.  Plan now to be in Atlanta, next June.  See you there!

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