Test Your Asset Protection Knowledge
To take a 15 question exam to test your knowledge on asset protection, click on the following link:
If you want to watch my 45-minute educational webinar titled: Asset Protection – Powerful Marketing without Pushing Products, click on the following link:
The concept of “asset protection” is my absolute favorite topic!
Why is Asset Protection (AP) my favorite topic? It’s simple. It’s a topic with the following characteristics:
–99.9% of clients need help with this issue.
–Current advisors are NOT helping.
-Even if a current advisor wanted to help, he/she doesn’t have the knowledge.
-You can instantly and easily show the need for help with this issue.
-You can easily explain how YOU can help fix the problem.
In other words, AP is the “best” topic to use if you want to show value to affluent clients (the ones you want because they have money).
What is AP?
In its simplest form, it’s the concept of protecting a client’s wealth from “all” creditors.
What do most “asset protection planners” focus on?
Protecting a client’s money from negligence lawsuits (professional negligence for doctors, lawyers, CPAs, etc. and other types of negligence like car crashes, property liability, etc.).
While there is nothing wrong with helping clients protect their money from negligence lawsuits, when attacking AP in a broader manner you can help clients with annuities, life insurance, AUM, etc.
Comprehensive AP-protecting wealth from “all” creditors.
-Who is your #1 creditor every year?
-Are you more likely to lose money in the stock market or have a negligence lawsuit?
-What is the largest expense for most seniors in retirement?
The answers in succession: the IRS, the stock market, and health care expenses.
What tools can an advisor use to help clients mitigate or eliminate these risks?
–Cash value life as a tax-free retirement tool.
–FIAs, IUL and tactical money management can help reduce or eliminate stock market risk.
–IUL with a free chronic illness rider, an FIA with an income rider doubles for LTC, and/or a 401(h) Plan for business owners where the money comes out tax-free for health care expenses.
If you want to be formally educated on the ins and outs of asset protection planning so you can provide the best advice to your clients, email me at firstname.lastname@example.org and I’ll add you to the list of those who want to be educated.
I guarantee that learning the subject matter will make you a better advisor and I guarantee it will help you pick up more affluent clients (and business owner clients specifically).
Roccy DeFrancesco, JD