Chapter 2: The State Of The Industry

Chapter 2: The State Of The Industry

The financial services industry has gone through and is continuing to go through very big changes over the last 7 years or so. Many will agree with me on this, others will not. I’ll leave you to come to your own conclusion, but here are a few observations I have personally made.

Keeping the nations retirees “retirements” safe and secure is becoming more and more difficult in the global economy we now live in. Just in the last 8 years alone, we have experience two bear markets that have roiled, and even ruined many retirement plans.

As I write this, we are in the midst of a colossal banking industry mortgage debacle. This week IndyMac – one of the nation’s leading mortgage lenders went into receivership. And as a result, many retirees safe and secure CD’s are now frozen. Along with their retirement plans.

I read of one retiree who had $675,000 in deposits in IndyMac and was completely devastated as a result of receiving news of the bank’s failure. I can only wonder what is to become of his retirement plans through the use of what are supposed to be the “safest” of accounts?

If only he would have had his money in one of those … what are they called?… Oh yeah, one of those Equity Indexed annuities deals…

Unfortunately, for him he chose the safe route instead.

Another article I recently read regarding the banking mess, predicts as many as 300 banks failing this year!

…Wow!

Thus the importance of planning strategies and products that are specifically designed for “retirement”. With utmost safety and preservation of principal as driving components within the strategies and products.

Advertising and marketing is becoming extremely difficult, if not nearly impossible to do in our industry. Fundamentally, any agent or advisor is first of all an entrepreneur and a business owner, and thus what is true for any business is true for ours – we are NO exception.

The most significant reason agents and advisors wash out of this business is not because they don’t have enough product knowledge, or because they don’t have enough products, or because they don’t have enough capital letters behind their names.

No, its because they failed to master what is fundamental to ANY successful entrepreneur and business – and that is the science of marketing and the failure to develop back-end revenue systems. These ARE THE most significant reason careers wash out — and likely almost the only reasons.

It is the lack of mastering the science of the “lead flow” and developing the back-end that “does in” most guys, whether they be well designated or not. They’ve either never learned this most important of skills that is required of any business or business owner — the science of marketing and back-end revenue systems — or have never been taught it.

The emphasis has instead been on knowledge in the technical areas of this business and that is important and all well and fine. But, unfortunately NONE of that technical stuff will ever produce a single “lead” … and without new prospects no business will last!

In all my years in this business, I’ve never seen a CE credit given for the science of marketing. And I think that the lack of such is doing everyone in this industry a very unfortunate disservice.

Remember this: None of the “technical” stuff or lack of it will ever put you out of business… But, not becoming skilled in the science of marketing and mastering the lead flow will most assuredly put you at a terrible disadvantage and significant RISK of failure!

So I would encourage you to make the mastery of the science of marketing one of your most important priorities. Your very future depends upon it!

For better or worse, this is the new reality of the financial services industry.

But not to worry…

There is GOOD NEWS, and that good news is what you are now holding in your hands!

And with it you can now:

• Create a HUGE new source of “back-end” revenue for your business by developing a high-value client-service revenue channel in your business using the Asset Transformation system. Any successful business must have customers coming back to purchase more of what it offers. Netflix would have never become a household name if Netflix only rented just a single solitary DVD to its customers and never “up-sold” their customers on the multi back-end purchase model. So now you own such a “system” custom tailored to the financial services industry, that you can use to build into your business the same sort of back-end revenue stream that Netflix and nearly every successful business has.

• Better serve your clients. The better you serve them, the more loyal they are and the less likely they are to jump your competitors ship. This industry has never been as competitive as it now is, and thus client retention strategies are crucial for you and your long-term profitability. The Asset Transformation system is the ideal “client retention” strategy and system.

• Create and deliver the very unique high-value-service client records keeping system to your clients via the Asset Transformation My Asset Journal Client Records Keeping System. My clients totally “love” this and would never do life without it. It takes what are very intangible things – financial products – and makes them very “tangible” for your client. Makes them highly organized along with everything associated with these products all highly “organized’ and in one easy to access three ring binder.

• Fully automate the operation of your client annual review back-end revenue model with your Asset Transformation software.

• Create a source of new business revenue that is consistently stable year after year. One that doesn’t change and become quickly obsolete like the typical marketing message does. Your Asset Transformation business model stays dependably consistent year after year.

Client annual reviews done the Asset Transformation way will add an incredibly rewarding, high-profit margin component to your business. Now the next step is to get through this course quickly and get every single client you have set up on their first annual review with you and to deliver the client records keeping system to them.

And that really is the heart of the Asset Transformation system.

Creating a long-term business model that is literally IMMUNE to the lightning fast changes that take place in this industry these days.

So how do we do that? Is it really possible?

Absolutely. I’ve been at it nearly 5 years!

You just need to start implementing the system and “The Secret” that is built into the system that I’ve given you – “Asset Transformation.”

And as a reminder, here is what you can expect of “Asset Transformation”:

It is a “system” that by default and through the use of it, positions you to “Give” into the lives of others that which is of value. And by default, and through the use of it, positions you to “Be Given Unto”. Only because you first “Give”!