Issue No. 06 - November/December 2009

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MAKING HEADLINES

Getting to know your new Executive Committee

Ever wondered what keeps our MDRT veterans going when they face an obstacle? In this issue, we ask our 2010 MDRT Executive Committee to dole out some advice to our members on how to cope with setbacks and share a memorable story from their many years of experience in the insurance industry.

2010 MDRT President Guy E. Baker, MSFS, CLU,  with (From left) First Vice President Julian H. Good Jr., CLU, ChFC, Second Vice President Jennifer A. Borislow, CLU, Secretary D. Scott Brennan  and Immediate Past President Walton W. Rogers, CLU, ChFC

What is your main driving force for success?
Rogers:	I like to solve problems and have answers for people. I am competitive, so I like to do this better that anyone else.
Good:	To be a trusted advisor to all of my clients. To do whatever it takes to solve their financial needs and concerns.  And to create solutions that are in my clients’ best interests.
Borislow:	The main driver of my success is having the ability to make a difference in the lives of our clients each and every day. We are in a fabulous business and I am continually inspired by the work we do for our clients. I am blessed with a great business partner, three-year MDRT member, Mark S. Gaunya, and a team at Borislow Insurance that shares the same passion and dedication.
Brennan:	I have tried to help as many people, as much as I could, whenever I can.
Can you share one memorable and inspiring story from your many years of experience in the insurance business?
Rogers:	When a client says that they trust me and appreciate what I have done for them, I am inspired to keep calling on prospects and not get discouraged.
Good:	One of my clients died recently due to an accident at home. I have tried to sell him additional life insurance over and above what he had purchased during our 20 year working relationship, but he would never buy.  His wife and children will be okay, but barely.  That is why we must always push our clients to make sure that they take care of their families.
Borislow:	My mentor in the business is a gentleman by the name of Gene Doran. Tragically he was injured in a freak accident and for the last 23 years he has been a quadriplegic. Gene’s life changed in an instant. He was a highly successful insurance professional and vibrant 38 year old father of 3 kids. What saved him financially was his disability insurance.  When his focus needed to turn to his health and family, the insurance policies he had purchased and kept up to date thru the years was critical to his families survival. I share this story with everyone to illustrate that life can change in an instant and that you need to be prepared. In addition to selling life insurance, I am passionate about selling disability insurance and providing long term security for our clients.
Brennan:	I felt compelled to call on the owner of a company [who had a large need] a total of fourteen times over an eight month period and finally the man purchased a permanent life insurance policy from me.  Three years later the man was diagnosed with Multiple Sclerosis (a chronic disease that attacks the central nervous system) and the rest of the premium was waived. Two years later, I had the honour of delivering a seven figure tax free check to his widow.  Sometimes when things aren't going well, I think of that man and his family.
Any advice for our members in Asia Pacific on how they should deal with setbacks in their career?
Rogers:	Do not isolate yourself. Stay active with your good clients having contact with as many positive people as you can. Do not whine about your troubles, but keep asking others about their financial concerns and help them fix THEIR problems.
Good:	Always go back to the fundamentals that allowed you to qualify for MDRT the first time.  Make appointments with your existing clients and ask for their help – you need referrals.  And take time each week to "think" your plan through.
Borislow:	Go back to the basics. Get out and spend time with existing clients. Learn from mentors or successful people in our business and create opportunities. Always look forward and focus on the future.
Brennan:	A great MDRT member Jim Pittman, CLU, CFP, a 35-year MDRT member who has four Top of the Table and 10 Court of the Table qualifications, from Portland, Oregon said it takes ten years to be a ten year member.  Hang in there and make the calls.
What can MDRT members look forward to in 2010 with the new leaders at the helm?
Rogers:	A continued awareness of our need to respond to our global membership; making the annual meeting more responsive; new tools to grow your practice and increase your own financial knowledge.
Good:	The Executive Committee will be thinking more strategically for the global, long term success of MDRT.  And most importantly, continuing to develop new tools, content, ideas, etc. to help our members become even more productive.
Borislow:	MDRT’s leaders are focused on the future of MDRT and what value MDRT can bring to our total membership. We have several important initiatives ranging from mentoring to financial literacy- that are all very important to our members now. The Executive committee has embarked upon a strategic planning process to establish long term goals so that MDRT remains relevant for our members in the future.
Brennan:	We take our responsibilities seriously, but not ourselves seriously. When you see us (especially in Korea) come on up and have your picture taken with us, or give us a hug.  We would love to see you!

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FEATURES

Welcome Message from Divisional Vice President of the 2010 Membership Communications Committee (MCC), Radhakrishna K. Shetty, LUTCF

My fellow MDRT comrades, it gives me immense joy to be able to share my vision with you through the Asia Connect e-newsletter.  First and foremost, I would like to take this opportunity to congratulate MDRT’s Asia Pacific office for its remarkable efforts to strengthen the MDRT brand in Asia and deliver more membership value to you.

It is indeed my great honour and privilege to be an ambassador of this Premier Association of Financial Professionals, and to be recognised as one of the world’s finest financial advisors. As the newly appointed Divisional Vice President (DVP), I am committed to raising the MDRT membership number in the Asia Pacific region this year and beyond.  It will be my greatest achievement to see more and more of you qualify for membership. Hence, let us work hard together towards membership qualification in 2010.  At the same time, let us not forget to constantly encourage our colleagues and peers around us to strive towards excellence by sharing our success stories with fellow aspirants.

As the leader of the Membership Communications Committee (MCC), I strongly encourage you to get involved with MDRT by contributing your ideas, volunteering your time to participate in MDRT activities and providing feedback to your respective country leaders.   This will help ensure that our services and initiatives reflect your expectations and help you in your professional development.

The Asia Pacific region is fast gaining recognition as an emerging powerhouse in the financial sector.  The potential for business growth in this region is boundless.  I see that the post financial tsunami is a very exciting time for all of us, and with many new opportunities to be seized, lets remain dedicated to our trade and committed to meeting our clients’ needs, and we will be on our way to professional and personal excellence.

All the best to the aspirants of the 2010 MDRT membership!  I look forward to seeing everyone at the 2010 MDRT Experience in Seoul next March.

MCC DVP Radhakrishna K. Shetty, LUTCF of Mumbai, India is a 12-year member of MDRT

Let’s meet the 2010 Divisional Vice President of the MCC as well as the network of Regional and Zone Chairs in Asia.

Sign up NOW for the 2010 MDRT Experience!

Click here to watch the MDRT Experience video.

Have you registered for the 2010 MDRT Experience? Register by 8 January 2010 to take advantage of the early bird discount.

This year, why not bring a friend along and together you can experience the magic of MDRT’s highly acclaimed Annual Meeting? This is one of the rare opportunities for nonmembers to learn cutting-edge sales techniques and motivational concepts from the industry’s top producers. The high-energy, motivational and educational sessions promise to take you to a higher level of success.

As distinguished members of MDRT, attendees who are approved 2009 and 2010 members will receive these benefits at no extra costs:

	•	Admission to an exclusive members-only luncheon held on 12 March 2010
	•	Opportunity to purchase MDRT insignia items at the MDRT Power Center
	•	MDRT Ribbon

MDRT says Thank You to our Platinum Partners

Country News Bytes

Hong Kong The 2009 MDRT Day Hong Kong was held from 19-20 August 2009 at the Hong Kong Convention and Exhibition Convention Hall. The theme for this year’s event was ‘Ready Set GO ... Goals’. An impressive line-up of 40 speakers presented at the event, out of which 32 speakers were MDRT qualifiers from Hong Kong.  Attendees of the two day event received constructive knowledge, lessons about maintaining a positive attitude and the importance of cultivating a healthy working habit.

Japan Started in 1985 by Dr. Gordy Klatt (a colorectal surgeon in Tacoma, Washington), ‘Relay-for-Life’ has evolved to become the world’s largest fund raising movement to fight against cancer. Involvement in this global relay to raise much-needed funds and awareness for cancer started to spread across Japan in the last 4 years. MDRT members begin actively participating in the event, after a Program Development Committee (PDC) member of the 2009 MDRT Japan Annual Meeting asked a board member of Relay-for Life to present at the meeting. On the 12-13 of September this year, 20 MDRT Japan Chapter members from the Ashiya (Kobe) area participated in the 24-hour walk and enjoyed the event tremendously. This is also the third year which Ashiya hosted the event. On the same day, other MDRT Japan Chapter members also participated in the Tohuku District ‘Relay-for-Life’.

Singapore On the 24 September 2009, the Insurance and Financial Practitioners Association of Singapore (IFPAS) in partnership with the Million Dollar Round Table (MDRT) and with the support from the Association of Financial Advisers Singapore (AFA) jointly organised an event known as ‘MDRT Up Close and Personal.’ The purpose of the event was to provide financial consultants (both MDRT members and non-members) in Singapore a rare opportunity to learn firsthand from MDRT legends and veteran members.   The distinguished MDRT speakers included:         • Second Vice President, Jennifer A. Borislow, CLU   • MDRT Secretary, D. Scott Brennan   • Divisional Vice President of the Membership Communications Committee (MCC) Radhakrishna K. Shetty, LUTCF   • Regional Chair of Hong Kong, Macau, China and Taiwan, Patric Leung Wai Ming, CFP, FChFP   • Zone Chair of United States of America, Barton C. Pasco, CLU, ChFC The speakers took the stage consecutively and generously shared practical sales tips and insights and candidly provided comprehensive answers to our audiences’ enquiries during the question and answer session. The half-day event which was held at the NTUC Auditorium was a great success as an estimated 300 attendees literally got a chance to get ‘Up Close and Personal’ with MDRT leaders.

Taiwan On the 1 October, 728 participants gathered at the Cho-yue Hall of Howard International House; Taipei to attend the annual MDRT Day in Taiwan. While many of the discussions were focused on the theme ‘Ready. Set. Go’, many industry super producers, such 2007 MDRT President, Philip E. Harriman, CLU, ChFC, offered their views about new industry opportunities, post-financial tsunami and their success stories. During the event, Harriman, enlightened the audience with his insights on the “the risk of living too long” and how to expand the retirement market amidst financial turmoil. Following, Harriman’s presentation, the President of Prudential Life Insurance Company of Taiwan Inc., Steven Jin, gave his analysis of the current market as well. In addition, local MDRT Taiwan members shared about their experiences from attending the 2009 Annual Meeting with the audience. The all-star program line up left every participant feeling energised and all geared up to meet again at next year’s 2010 MDRT Annual Meeting in Vancouver.

Korea On the 9 of October 2009, MDRT Korea held its second MDRT Workshop for the year. An estimated 500 MDRT members and non-members attended the workshop. The president of MDRT Korea, Sung-Ho Shin, delivered an opening speech, and in his speech, he expressed his gratitude and encouragement to all the people who volunteer their time and services to Korea Chapter and its events. He believed that volunteerism provided the valuable foundation for the progress and growth of MDRT Korea Chapter. The speakers of the day included Young-ho Heo, the famous explorer, Jae-beom Park, the team leader of Overseas Emergency Relief, Sae-don Shin, a professor of Sookmyung Women’s University and Dong-yeon Kim, an 8 year MDRT member. The presentations motivated both members and MDRT members to achieve higher success in their business.

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IDEA BANK

Demonstrating the Work I Do

When I meet prospects, I always try to use an agenda to help manage the expectations of the meeting and stay focus.  My agenda would comprise of: (a) an introduction, (b) the work I do and (c) recommendations.

To begin, I would talk a little bit about myself, introduce the company I represent and make reference to the referrer if applicable.  Next, I would tell the prospect that I would like to give them a clearer idea of the work that I do for my clients and for this, I would invite them to refer to the attached slide in order to provide them a visual impression of my work process. Following, I would also explain to the prospect that in order for me to help them understand their financial needs and situation better, I would need to gather information on their financial position and goals.  The Fact Find comes into use. In addition, I would also use this opportunity to impress upon them that my analysis can only be as accurate as the information they provide, so as to gently suggest to them that it is important for them to be detailed so that we minimise any discrepancies.  With the information gathered, I would go back and analyse the prospect’s financial situation- taking into consideration their needs, goals and concerns- and then return to give them a snap shot of their financial position.

I would tell them that the analysis can turn out two ways – either it will give them a peace of mind to confirm that whatever they have put into place is on track or we could discover that they have gaps, in which case, I would highlight these gaps and make my recommendations based on the available options to fill the void. And hopefully, my recommendations would add value and enable my prospects to make a decision that is in their best interest. And this would ultimately help them to achieve their financial goals.

I would conclude the cycle by sharing with my prospect that most of my clients are unable to fully achieve their financial goals in one plan, simply because financial situations change over time.  As such, it is important to review their financial plans every one to two years so that they can stay on track towards achieving their financial goals.  And before I conclude my session, I would always ask for referrals from my prospect. And in doing so I would reveal to my prospect that in this business I get paid in two ways – first, through the business I do with my clients and second if I do a good job of demonstrating my professional expertise; my clients would in turn furnish me with referrals whom I get to share my knowledge with and who might need my services.  This is to suggest to the client from the start, that giving me referrals is part of the process.

I have found that this short presentation, coupled with the support of the visual presentation, effectively demonstrates my work process to my prospect and helps manage my prospect’s expectations. Through such a presentation, I have demonstrated to my prospect that I am focused on building long term client-agent relationships and I will be there to provide service and add value to their plans over the years.

Anne-Marie Lee, ChFC, CLU is a 12-year Qualifying & Life member from Singapore. She now serves as the 2010 MDRT Zone Chair for Southeast Asia

Make your Clients Proud!

While we make it a point to advertise our practice and services, it is also important to promote ourselves as professionals at the same time. Here are some methods which you can use to distinguish yourself as an advisor:

•	Create a professional brochure with information about you and your company and listing any awards that you have received. MDRT provides its members with resources to help them customise their own brochure.
•	Write an article focusing on your area of expertise, and send it to your local newspaper or financial magazine.
•	Speak at a seminar.

And through investing in these resources you will be able to promote your reputation and boost your profile as an industry professional. You will have greater name recognition in your community and your clients will be more inclined to refer you to their colleagues.

Deddy Karyanto Ir is an 8-year member from Jakarta, Indonesia. He now serves as the 2010 MDRT Country Chair for Indonesia

Use your time wisely

Financial advisors are entrepreneurs at heart. But, there can be tension between your aspirations and activities which are entrepreneurial and the bureaucratic time system which we all live in. A bureaucrat thinks of time as divided into work days and weekends and work hours and so on. The best entrepreneurs do not have time systems like that. They have a time system that just consists of three different kinds of days: free days, focus days and buffer days.

Free days are days without any work, where your brain can rest. Your brain reorients all your activities, all your memories, experiences, ideas and all your concepts, so that when you come back to work, you are returning with a new brain. It is important to take vacation time for free days, which can help you to be more productive in the long term.

A focus day is a day when you make the money to pay for the free days. On a focus day, you work 80 percent of the day focusing on your three most important money making activities.

The reason why a focus day is so important is because as a whole, agents do their best work in spurts. People, on average, in a 90-day period, need about 25 focus days. In those 25 days, you can make all of your money. But it has to be a day which you set up properly, and it has to be a day which you do not allow yourself to be distracted.

Lastly, a buffer day is a work day where you do anything you want and not hold yourself accountable for results. The ultimate purpose of a buffer day is to clean up old files, complete paperwork, delegate projects and add new capabilities. If you properly set up your business on buffer days, you can be more successful on focus days. And ultimately, you can enjoy your free days.

Adapted from the 1996 Annual Meeting presentation by Dan Sullivan, President of the Strategic Coach, and internationally renowned coach for business planning and communication.

Pen to the Ready

At my office, company pens are always available. In addition to serving as good advertising tools, the pens also come in very handy when you need your client to sign a document. Clients also often forget to bring along their glasses thus I have a box of spectacles of varying strengths to help clients see the application and sign it. This solution has worked well and it always brings an unexpected smile to the client’s face. It also makes us stand out as being more caring, as well as, of course, getting that important application signed in the correct place.

Helen A. Jenkins, DipPFS, is a 20-year Qualifying & Life member from Cardiff, Wales. She serves as this year’s Chair of MDRT’s Public Relations Committee.

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GET INVOLVED

Call for Contribution

Do you have an interesting sales idea or a proven strategy to share with fellow MDRT members? We are keen to hear from you if your ideas are based on the following themes:   • How to Approach Customers   • How to Recruit Staff   • How to Sell Multiple Products

We are also interested in ideas relating to Whole Person Concept, viewpoint on challenges facing the financial services industry, and also case studies that can inspire other members to overcome challenges to win over a client or sell a particular product. You can send your article or content outline to MDRT Asia Pacific at asiaconnect@mdrt.org.

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DID YOU KNOW?

MDRT believes that apart from learning new strategies from the world’s finest financial service professionals and incorporating their best ideas into your own practice, it is important to improve on client communication strategies as well. MDRT has specially designed an exclusive set of tools – which are readily available online - for their members.

A customisable client brochure is an excellent way to present a positive image of yourself and your profession to your community, attract new prospects and make clients feel good about keeping you as their advisor. A customised brochure is available in the Members Only section of the MDRT website.

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USEFUL LINKS		CALENDAR OF EVENTS
• Find out more about the 2010 MDRT Experience • View the English edition of Round the Table (RTT) magazine online • Find out more about MDRT’s mentoring programme • Refer your colleague to MDRT • Be an MDRT Speaker • Submit an article for MDRT Asia Connect • Contact MDRT Asia Pacific Office		11–13 Mar 2010 2010 MDRT Experience, Seoul, Korea 8–9 Apr 2010 MDRT Japan Chapter's 40th Annual Meeting, Okinawa, Japan 13–17 Jun 2010 2010 MDRT Annual Meeting, Vancouver, British Columbia, Canada

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CONTACT INFORMATION

MDRT Asia Pacific Office

Tel: +65 6496 5505
Fax: +65 6336 6449
Email: asiapacific@mdrt.org
Web: www.mdrt.org