Practice management

Financial adviser Terry Kingsbery will stand in front of a room of highly educated people with a dollar bill held up high to make a point about planning for retirement.

Americans are divided on their outlook for the economy, a Harris poll of 2,464 adults earlier this month found. Twenty-one percent expect the economy will improve, 45% think it will stay the same, and 34% fear it will get worse.

Just to recap, in my previous post I argued that as benefits advisers we need to change the conversation with our clients. I used the example of my client who asked me to present at a sales seminar on solution-based (vs. product-based) selling. I also said I would share some thoughts on how to effectively move our role as advisers forward. If you don’t remember or need to remind yourself, please go here. …

What does it take to hire truly great staff for your firm, and how many steps are involved? Speaking here at the 6th Annual Employee Benefit Adviser Summit, EBA Contributor Jack Kwicien, a managing partner of Daymark Advisors, provided some tips for hiring truly expectational talent.

Insurance agency online marketing provider Insurance Website Builder is partnering with Insurance Technologies Corp. to add a Facebook social media plugin to its offering. The Facebook social media plugin installs a mini version of an insurance agency’s main website on Facebook, including blogs, employee directory, locations and quote forms.

Brokers and advisers must change now and prove to companies that doing nothing could be “detrimental” a former adviser said at EBA Summit.

QUESTION: With all of the buzz surrounding “alternative funding” these days, can you please provide a couple of strategies that can assist clients in better controlling health care costs? ANSWER: The bottom line is that it is time for brokers to understand that the new reality means a smaller market and less commission for their fully insured groups. …

Many reports indicating that Americans know they don’t have sufficient life insurance have surfaced over the past few months. So, what’s the solution? According to the 2011 Genworth LifeJacket Study, “7 Key Insights to Help Close the Coverage Gap,” Americans have a desire to work with an agent or adviser to understand the role of life insurance in securing their families’ futures. Additionally, 40% of consumers do not believe they have enough life insurance to meet their families’ long-term needs. The study illustrates that financial professionals should change the way they approach their client base and break down the barriers that keep families from obtaining adequate coverage.

Predicting an employee’s future success at a company has traditionally stumped experts, and relying on metrics such as IQ level, only tells 25% of the story. Read what makes up the other 75%, according to Shawn Achor, Harvard researcher and positive psychology expert.

PPACA has been law for 15 plus months and many brokers and advisers consultants are still in denial. Many are acting like nothing has changed. Not for their clients. And not for their businesses either. This is no time to play the ostrich game. It’s survival of the fittest and most adaptable. Our world of benefits has changed and the landscape will continue to evolve. It’s time for a reality check. Change is never easy,…

Follow EBA staff on Twitter and Facebook from our annual summit in Dallas and be sure to check our inBrief for stories from the exciting event.

In today's BeAdvised, Andy Torelli talks about how he treats his strategic partners. Is it a good idea to view them as partners or providers?

Financial planners can prove their worth if they find ways to lessen the chance that their clients will not outlive their retirement funds. David Blanchett, director of consulting and investment research for the Retirement Plan consulting Group of Unified Trust in Lexington, Ky., last week detailed how planners can implement sustainable withdrawal strategies so that retirement income works for their clients.

One of Mark Lacher's clients introduced him as "the firm that does all our insurance and a million other things for us." Is that how clients see your relationship too? Read in today's BeAdvised as Lacher shares three inter-related areas that he believes has to become the units of measurement going forward.

The U.S. Department of Labor on Monday withdrew a controversial proposal to subject financial professionals to a higher standard of care when advising companies on their retirement plans, bowing to pressure from securities industry groups and lawmakers.

Of the endlessly debated provisions in the Patient Protection and Affordable Care Act, the requirements for Medical Loss Ratios stand out for insurance companies because the requirements are designed to dictate how those companies pay their bills. A new study sheds light on the MLR rule; read as experts weigh in.

Life insurance agents are expressing concern about a proposed change emanating from the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Find out what happened at a congressional hearing last week.

New research from Aflac underscores a big opportunity for advisers to help ease employees’ confusion during open enrollment.

Facing the twin blights of constrained state budgets and eroding market value amid the still-sputtering economy, retirement programs for public employees are under siege, with numerous state and local employers either undertaking or considering massive restructuring of their benefit plans.

The second poll in a series of retirement pulse polls by Sun Life Financial suggests that discomfort over aging and hopes of remaining independent throughout the golden years prevent many Americans from planning long-term care. “Shut Your Eyes and Hope for The Best: American Attitudes Toward Long Term Care Planning,” surveys both mainstream and affluent Americans age 50 and older.