Article for LPL Focus_April2012_final

7/29/2019 Article for LPL Focus_April2012_final

1/12

april 201

lpl Fnnc nd UVEST Fnnc Sevces e fted ognztons nd membes FiNra/SipC.

Fo boke/dee use ony. Not o ubc dstbuton

Introducing the New

Marketing

GatewayAll the marketing toolsand resources youneedall in one place


2/12

Dear LPL Financial Institution Services Advisors:

Over the last several months, Ive had the opportunity to get out in the feld and visit some o your

fnancial institutions. Ive done a lot o listening, idea gathering and learning, and Im excited to

share with you some o my observations rom the road.

You have weathered extremely tough times over the last several years, rom a roller-coaster

market to a challenging interest rate environment. And through it all, you have persevered. You

have remained committed to serving your clients and, in turn, they have remained committed toyou. Congratulations and job well done.

One trend I heard while meeting with fnancial institution senior managers across the country is

a clear desire to fnd ways to help advisors evolve their practices rom a traditional, transaction-

based model to a true wealth management model. This is aligned with what were hearing rom

an industry, regulatory and consumer standpoint, as well. Across the board, advisors need to fnd

ways to manage a greater number o relationships efciently and eectively. And I frmly believe

managed solutions will enable you to achieve these goals, while deepening household penetration

and gaining access to clients you otherwise would not have had access to.

While I believe managed solutions will help you become more efcient and eective, I also realize that

advisory solutions are not the right ft or every client. I heard requently that you need help identiying

opportunities to drive more business rom within your existing book o business. This year, youllhear more about tools we are developing to help you target and meet the needs o dierent client

segments, and strategies we think will help you grow wallet share with existing clients.

Another popular subject is social media and how you can most eectively leverage it. Many o you

have not yet embraced the potential that social media tools provide to help drive your growth and

build your brand. I encourage you to learn more about the social media tools and resources available

to you via the LPL Financial Marketing Gateway, highlighted on page 5.

The last topic I heard about is the need or enhanced technology tools. This year, LPL Financial

is making a signifcant investment in the Institution Services business with the development o a

suite o new reporting and technology enhancements. And Im excited to report that LPL Financial

is committed to continuing to dedicate resources to the Institution Services division throughout

2012 and beyond.

I hope you eel the impact o our commitment to your institution, and I invite you to share with us

how we can continue to help you grow this year.

In partnership,

Andy Kalbaugh

Managing Director, LPL Financial Institution Services

A Message rom Andy Kalbaugh

2012april


3/12

At a Glance

lpl Fnnc nd UVEST Fnnc Sevces e fted ognztons nd membes FiNra/SipC.

Fo boke/dee use ony. Not o ubc dstbuton.

New Branch Training Materials

Drive more reerrals rom branch employees

with two new branch training programs added

to ClientsFirst:

Recognizing Reerrals: Financial Institution

Branch Training Guide by Lincoln

This brochure is designed to help bank

employees understand some o the

fnancial challenges their clients are acing,

recognize a potential need or fnancial

planning and eectively make a reerral

to the fnancial consultant.

Knockout Reerral Game by Jackson

Jacksons newest reerral game helps you

get associates in your corner by rewardingtheir eorts. This complete package o

materials will engage associates and make

implementation easy or you.

The branch training materials are available

at www.lplmarketing.com | ClientsFirst |

Branch Training

Now Available on AdvisorFirst

The Value of an Investment and Insurance

Customer to a Bankan LPL Financial, Kehrer/

LIMRA, Prudential, and Western Nationalco-sponsored reportuses a new consumer

data study to help defne the value an

investment and insurance client has to a

fnancial institution.

Locate this insightul study at

www.lplmarketing.com | AdvisorFirst |

White Paper Library | By: Kehrer/LIMRA

contents1 Are You Ignoring Half Your Clients?a gude to deveong stonge etonshs wth you women cents.

5 Introducing the New LPL Financial Marketing Gateway

a the toos nd esouces you need n one ceto eectvey

mket you oducts nd sevces to cents nd osects.

11 Opportunities for Growth and Streamlined Operations

B Dwye, esdent o Nton Ses nd Mketng o lpl Fnnc,

seks cnddy bout ou fms commtment to you success.

13 2012 LPL F inancial Institut ion Services Conferences and Eventslen bout ou wde vety o educton, netwokng nd tnng

events oeed thoughout the ye.

16 How You Can Shape Your Future

len moe bout the Fnnc Sevces insttute nd ts msson to

cete hethe egutoy envonment o dvsos.

17 Advisor Rankingsa comete st o ou most successu dvsos to dte.

19 Program Rankingsa comete st o ou most successu ogms to dte.

This issue brought to you by:


4/12

I worked with Pete and Karen as their fnancial advisor o

more than 20 years. Pete had been retired or fve years

and we goled or had lunch together every ew months. I

considered them among my best clients. But when Pete

passed away unexpectedly, Karen began working with

another advisor and moved all o her business to that

advisor within a ew months.

How can you make sure this doesnt happen to you? Ask

yoursel the ollowing questions:

Do you have relationships with your emale clients?

Are those relationships substantial enough or your emale

clients to eel comortable with you as their advisor?

Research indicates that 70% o widows switch advisors

ater their husbands die.1 To avoid succumbing to this

statistic, it is essential you develop relationships with your

emale clients, individually or as part o a couple.

A guide todeveloping stronger

relationships withyour women clients.

Are You IgnoringHal Your Clients?


5/12

Beyond the longevity challenge

Women represent a signifcant opportunity or your

business, controlling an estimated $14 trillion inassets. And that opportunity is two-old:

Women are oten the primary fnancial

decision makers within a household. As

such, they are also concerned about saving or

retirement. According to a LIMRA study, when

asked what their most important reason or

saving is, 54% o women responded that they

are saving or retirement.2

Women are earning more money than

ever beore. In 2009, women accounted

or 51% o all workers in high-payingmanagement, proessional and related

occupations.3 And, according to the IRS, hal

o all individuals with at least $500,000 in

investable assets are women.4

Three actors to consider whenworking with women

Understanding the opportunity is just the beginning.

Working with most women clients requires dierent

thinking and a dierent perspective. Women ace

unique fnancial challenges, and a successulrelationship with women investors requires an

understanding o those challenges and their impact

over time:

1. Family frst

Women work hard and are earning more than ever.

But they also take time o or amily and are acing

earnings penalties or job interruptions. Women

who graduated with a Harvard MBA lose up to 44%

o their earning power or taking just 18 months o

or amily obligations.5

Many American women spend their earning

years acting as caretakers, moving in and out o

the workorce or working part time, giving way to

a greater need or investment advice and active

management o their retirement assets.

Women who take time o rom work to be a home

caregiver can lose an average o:

$25,484 in Social Security benefts

$67,000 in pension benefts

$565,000 in lietime earnings6

Previous generations relied heavily on Social

Security to provide all or some o their retirement

income. But or women in particular, it is important

to remember Social Security will provide only a

raction o the retirement income they will need.

However, most married men still begin claiming

Social Security benefts at age 62 or 63, several

years short o the age that maximizes the value

o the average households benefts. Couples

should consider discussing delaying the onset o

the husbands beneftswhich could yield greater

benefts or women and longer term benefts in the

event they outlive their husbands.

Average years beore retirement

Average years ater retirement

Average age o retirement

Years

Lie expectancy versus years in retirement

75.7

Women

Men

80.664.6

65.7

0 20 40 60 80 100

Souce: OECD, a 2011

focus April 2012


6/12

2. Last woman standing

Women are living longer, with a greater lie

expectancy than men,7

leaving many marriedwomen to ace managing their fnances on their

own later in lie. Today, it is more important than

ever or womenmarried or singleto develop

and maintain a relationship with a fnancial

advisor with whom they eel comortable.

Married women who are aced with working

with a fnancial advisor who dealt only with her

husband may seek out a new advisor i their

spouse passes away. Beore that happens, be

sure to cultivate your relationship with your

married women clients now, and increase your

chances o retaining your book o business.

3. Being prepared or whatevermay happen

For women, the odds o needing long-term care

are signifcant. One study revealed that o those

receiving long-term care benefts, 41% were

single women, many o whom were widowed.

A recent Lincoln Financial Group study reports

75% o those surveyed would use their savings

to und long-term care. Most Americans do not

have a real plan in place to pay or the signifcant

cost o long-term care, as shown below. Federal

data estimates the cost o long-term care can

easily exceed $60,000 a year. For the average

U.S. amily with $120,000 in savings, that

expense will quickly deplete those savings.

For women, who are oten tasked with taking

care o aging parents, the impact o healthcare

expenses and long-term care can be more than

fnancial. You probably have clients who aremembers o the sandwich generation, those

amilies who are sandwiched between raising

children and caring or elderly parents. Currently

one in eight Americans age 40 to 60 is a

member o this group. And, as more individuals

retire without enough savings to live on, this

generation continues to grow.

Appealing to women investors

Advisors who want to meet the needs o

their women clients should make the eortto understand these issues and how women

approach their fnancial well-being. Taking those

actors into consideration may help create the

path to the appropriate investment products and

solutions, such as:

Investment products with guarantees and

death benefts

Income products to meet the needs o

women who are living longer

Lie insurance products or women who

outlive their husbands

Long-term care products to help plan or

potential health concerns

One way to increase your appeal to women

clients is to understand the unique challenges

they ace today, as well as identiying the steps

needed to reach the most appropriate solutions.

In addition to the challenges already covered

including earning less and living longer

women approach fnances and investments

dierently than men: Many women worry about their fnances

more than men

Many women ocus on amily needs and

others frst

Many women are driven by connections

over presentation

Are You IgnoringHal Your Clients?

Your savings

Social Security

Your private pension orretirement plan

Medicare

Your income at the time

Private health insurance

Long-term careinsurance

Medicaid

Disability insurance

75%

70%

68%64%

55%

52%

43%

31%

30%

How Americans plan to pay or long-term care

Souce: lncon Fnnc le Stges Suvey: long-tem ce, lnconFnnc Gou, Setembe/Octobe 2010.


7/12

2012 lncon Nton Cooton

www.lnconFnnc.com

lncon Fnnc Dstbutos, inc., boke/dee, s the whoese dstbutonognzton o lncon Fnnc Gou. lncon Fnnc Gou s the mketngnme o lncon Nton Cooton nd ts ftes. aftes e seteyesonsbe o the own fnnc nd contctu obgtons.

lCN1202-20645002/12 Z01Ode code: lFD-Wi-arC001

Taking the next steps

Lincoln Financial Distributors is proud to oer new

Women and Investing materials to get you startedas you take steps to help enhance your relationship

with your women clients.

1. Get started

Lincoln has created a prospecting letter or women

that you can personalize and mail to get clients and

prospects actively thinking about their fnancial

utures. This letter can be sent to existing clients

and prospects.

2. Present

Host a women-only seminar. The benefts o thisinitiative include addressing your current women

clients to help them empower themselves, as

well as potentially increasing your client base with

new prospects.

Generate interest with Lincolns customizable

seminar invitation and ask attendees to bring a

riend. Consider partnering with a business that

oers a emale-riendly service or product. Use the

Lincoln Women and Investing client seminar, which

discusses the unique nature and needs o women

investors and strategies to empower women to drivetheir fnancial utures. Ask your Lincoln wholesaler or

the invitation and presentation.

Meet with your women clients

In addition to your regularly scheduled meeting with

your married clients, oer to meet with the woman

separatelyone-on-one. This may enable some

women to eel more comortable talking about their

own fnancial concerns and needs with you. Discuss

their fnancial risk tolerance and ways to help prepare

them or the unexpected. One way to do this is

to use the Lincoln budget worksheet, Budgeting

for Your Financial Future: A Womans Guide, with

your clients to help identiy fnancial goals and basic

budgeting considerations.

3. Implement

Send a personalized ollow-up letter to those

clients you have met with to encourage them toask questions and possibly set up another meeting

with you.

Use the Lincoln womens budget worksheet to ollow

up with any o your clients who have not completed it,

or set up a meeting to review it with those who have.

To access the Women and Investing materials, visit

www.lplmarketing.com | WomenInvest, or ask your

Lincoln wholesaler. Contact your women clients

today to see the dierence it can make or your

business tomorrow.

1 The $14 Ton Do Womn, Bb Ky

2 Souce: liMra, Gende Mttes: retement Svngs o Wokng Men ndWomen, Febuy 2011

3 Souce: U.S. Detment o lbo, Womens Bueu, 2009

4 irS.gov

5 The Cost o Wokce Fexbty o Hgh-poweed poessons,Cud Godn nd lwence F. Ktz, Octobe 2011

6 a Womns Gude to long-Tem Ce insunce potecton, amecnassocton o long-Tem Ce insunceConsume Educton Dvson, 2009

7 Monngst inc., annuty 2000 Motty Tbes

focus April 2012


8/12

Areyouignoringhalfofyourclients?

AguidetoavoidgettingstoodupbyyourwomenclientsIworkedwithPeteandKarenastheirfinancialadvisorforover20years.Petehadbeenretired

forfiveyearsandwegolfedorhadlunchtogethereveryfewmonths.Iconsideredthemamong

mybestclients.ButwhenPetepassedawayunexpectedly,Karenbeganworkingwithanother

advisorandmovedallofherbusinesstothatadvisorwithinafewmonths.

Howcanyoumakesurethisdoesnthappentoyou?

Askyourselfthefollowingquestions:

Doyouhaverelationshipswithyourfemaleclients? Arethoserelationshipssubstantialenoughforyourfemaleclientstofeelcomfortable

withyouastheiradvisor?

Researchindicatesthat70%ofwidowsswitchadvisorsaftertheirhusbandsdie.1Toavoid

succumbingtothisstatistic,itsessentialthatyoudeveloprelationshipswithyourfemale

clients.

Beyondthelongevitychallenge

Womenrepresentasignificantopportunityforyourbusiness,controllinganestimated$14

trillioninassets.Andthatopportunityistwofold:

Womenareoftentheprimaryfinancialdecisionmakerswithinahousehold.Assuch,theyarealsoconcernedaboutsavingforretirement.AccordingtoaLIMRA

study,whenaskedwhattheirmostimportantreasonforsavingis,54%ofwomen

respondedthattheyaresavingforretirement.2

Womenareearningmoremoneythaneverbefore.In2009,womenaccountedfor51%ofallworkersinhighpayingmanagement,

professionaland

related

occupations.

3

And,

according

to

the

IRS,

half

of

all

individuals

withatleast$500,000ininvestableassetsarewomen.4

Threefactorstoconsiderwhenworkingwithwomen

Understandingtheopportunityisjustthebeginning.Workingwithmostwomenclientsrequires

differentthinkingandadifferentperspective.Womenfaceuniquefinancialchallenges,anda

successfulrelationshipwithwomeninvestorsrequiresanunderstandingofthosechallengesand

theirimpactovertime.

1.Familyfirst

Womenworkandareearningmorethanever.Buttheyalsotaketimeoffforfamilyandare

facingearningspenaltiesforjobinterruptions.WomenwhograduatedwithaHarvardMBAlose

upto

44%

of

their

earning

power

for

taking

just

18

months

off

for

family

obligations.5

1The$14TrillionDollarWoman,BarbaraKay.

2Source:LIMRA,GenderMatters:RetirementSavingsofWorkingMenandWomen,February2011.

3Source:U.S.DepartmentofLabor,WomensBureau,2009.

4IRS.gov.


9/12

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10/12

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11/12

Onewaytoincreaseyourappealtowomenclientsistounderstandtheuniquechallengesthey

facetoday,aswellasidentifyingthestepsneededtoreachthemostappropriatesolutions.

Inadditiontothechallengesalreadycoveredincludingearninglessandlivinglongerwomen

approachfinancesandinvestmentsdifferentlythanmen.

Manywomenworryabouttheirfinancesmorethanmen. Manywomenfocusonfamilyneedsandothersfirst. Manywomenaredrivenbyconnectionsoverpresentation.

Takingthenextsteps

LincolnFinancialDistributorsisproudtooffernewWomenandInvestingmaterialtogetyou

startedasyoutakestepstohelpenhanceyourrelationshipwithyourwomenclients.

1.GetstartedLincolnhascreatedaprospectingletterforwomenthatyoucanpersonalizeandmailtoget

clientsandprospectsactivelythinkingabouttheirfinancialfutures.Thislettercanbesentto

existingclientsandprospects.

2.PresentHostawomenonlyseminar.Thebenefitsofthisinitiativeincludeaddressingyourcurrent

womenclientstohelpthemempowerthemselves,aswellaspotentiallyincreasingyourclient

basewithnewprospects.

GenerateinterestwithLincolnscustomizableseminarinvitationandaskattendeestobringa

friend.Considerpartneringwithabusinessthatoffersafemalefriendlyserviceorproduct.Use

theLincolnWomenandInvestingclientseminar,whichdiscussestheuniquenatureandneeds

ofwomeninvestorsandstrategiestoempowerwomentodrivetheirfinancialfutures.Askyour

Lincolnwholesalerfortheinvitationandpresentation.

MeetwithyourwomenclientsInadditiontoyourregularlyscheduledmeetingwithyourmarriedclients,offertomeetwiththe

womanseparatelyoneonone.Thismayenablesomewomentofeelmorecomfortable

talkingabouttheirownfinancialconcernsandneedswithyou.Discusstheirfinancialrisk

toleranceandwaystohelppreparethemfortheunexpected.Onewaytodothisistousethe

Lincolnbudgetworksheet,BudgetingforYourFinancialFuture:AWomansGuide,withyour

clientstohelpidentifyfinancialgoalsandbasicbudgetingconsiderations.

3.ImplementSendapersonalizedfollowuplettertothoseclientsyouhavemetwithtoencouragethemto

askquestionsandpossiblysetupanothermeetingwithyou.

UsetheLincolnwomensbudgetworksheettofollowupwithanyofyourclientswhohavenot

completedit,orsetupameetingtoreviewitwiththosewhohave.

ToaccesstheWomenandInvestingmaterial,visittheLPLWomenInvestwebsite,oraskyour

Lincolnwholesaler.Reachouttoyourwomenclientstodaytoseethedifferenceitcanmakefor

yourbusinesstomorrow.


12/12

2012LincolnNationalCorporation

www.LincolnFinancial.com

LincolnFinancialDistributors,Inc.,abroker/dealer,isthewholesaledistributionorganizationofLincoln

FinancialGroup.LincolnFinancialGroupisthemarketingnameforLincolnNationalCorporationandits

affiliates.Affiliates

are

separately

responsible

for

their

own

financial

and

contractual

obligations.

LCN12022064500

2/12Z01

Ordercode:LFDWIARC001

Documents

Article for LPL Focus_April2012_final