Seminar idea - Higher Tax/Interest Rates

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Dec 15, 2009 1:14 pm

What are your guys' thoughts on putting together a seminar about investing in a tax and interest rate environment...mistakes that can cost you money???   Or something to that effect.


I would discuss mostly muni's and NQ annuities and go over tax-deferral, maybe Roth conversions, discuss bond values as interest rates go up.
 
I need to get inspired here and try to put together an event for the end of January/February.
 
Thoughts?
Dec 15, 2009 1:44 pm

I'm trying to do the same. So far, and I don't mean to be negative, I'm working more on the venue ( weekday evening, light food at a great little neighborhood restaurant, drinks) and small targeted mailing - than the content. In other words, I'm thinking folks are more interested in meeting you in an informal setting, than the content. So the topic should be general, the conversation light, the venue excellent. I've done some things off and on, so this is just what I'm thinking as I work on my business and action plan. Folks should be ready, though, I can feel that for sure. 

Dec 15, 2009 2:20 pm
snaggletooth:

What are your guys' thoughts on putting together a seminar about investing in a tax and interest rate environment...mistakes that can cost you money???   Or something to that effect.


I would discuss mostly muni's and NQ annuities and go over tax-deferral, maybe Roth conversions, discuss bond values as interest rates go up.
 
I need to get inspired here and try to put together an event for the end of January/February.
 
Thoughts?
 
I think the title will get people there, but the ideas suck.... No one wants to hear about Roth conversions... Because as Americans were are procrastinators, of course it makes more "cents" to pay now and never have to pay again, but I can't feel the pain of taxes 25 years down the line, but I can feel a 20% blow to my money now..
 
But for seminars it doesn't matter, the main idea is get the people there, then say anything, but convey trust and you could sell them emerging taiwanese debt and it wouldn't matter..
Dec 15, 2009 3:03 pm

Could I retire in three months by betting on Taiwanese debt right now?

Dec 15, 2009 3:07 pm

Don't think it actually exists, since it is part of China..

Dec 15, 2009 3:07 pm
Squash1:
snaggletooth:

What are your guys' thoughts on putting together a seminar about investing in a tax and interest rate environment...mistakes that can cost you money???   Or something to that effect.


I would discuss mostly muni's and NQ annuities and go over tax-deferral, maybe Roth conversions, discuss bond values as interest rates go up.
 
I need to get inspired here and try to put together an event for the end of January/February.
 
Thoughts?
 
 
I think the title will get people there, but the ideas suck.... No one wants to hear about Roth conversions... Because as Americans were are procrastinators, of course it makes more "cents" to pay now and never have to pay again, but I can't feel the pain of taxes 25 years down the line, but I can feel a 20% blow to my money now..
 
But for seminars it doesn't matter, the main idea is get the people there, then say anything, but convey trust and you could sell them emerging taiwanese debt and it wouldn't matter..
 
Couldn't agree more. I have been showing people the benefits of the Roth Conversion for 2 months now with a program that shows actual dollar amounts and 90% don't want to do it. It is unbelievable. Of course I am dealing with people who don't believe in inflation because I am a bank b*tch but still.
Dec 15, 2009 3:38 pm
BioFreeze:
snaggletooth:

What are your guys' thoughts on putting together a seminar about investing in a tax and interest rate environment...mistakes that can cost you money???   Or something to that effect.


I would discuss mostly muni's and NQ annuities and go over tax-deferral, maybe Roth conversions, discuss bond values as interest rates go up.
 
I need to get inspired here and try to put together an event for the end of January/February.
 
Thoughts?



Oy Gevalt.

 
Don't worry, I'm getting something else in the works for that topic.
Dec 15, 2009 4:43 pm

Great subject. I have been moving a lot of assets into Roths. Not all clients get it but if you run the numbers about 99% of the time the client is better in a Roth.

Dec 15, 2009 9:29 pm

I don't think very many will actually do it due to the tax bite.  Most people would rather put off paying the taxes, even if its not in their best interest.

Dec 16, 2009 12:03 am

... like most finanancial planning and insurance ideas.

Dec 16, 2009 2:23 pm

The idea for the seminar isn't bad, but content is not what sells to clients with one big exception - creating urgency.  Whatever you choose to talk abou, your prospects need to come away from the seminar saying, "I really need to make some changes now."  That has more to do with how information is presented rather than what is presented.  As for the reason clients attend seminars - a safe environment where they can kick the tires.  They are looking for two things from you - do they like you and can they trust you.

 
So, three keys to a seminar - urgency, likeabilty, and trust.  Content - not so much.
Dec 16, 2009 2:32 pm
ManOnTheCouch:

The idea for the seminar isn't bad, but content is not what sells to clients with one big exception - creating urgency.  Whatever you choose to talk abou, your prospects need to come away from the seminar saying, "I really need to make some changes now."  That has more to do with how information is presented rather than what is presented.  As for the reason clients attend seminars - a safe environment where they can kick the tires.  They are looking for two things from you - do they like you and can they trust you.

 
So, three keys to a seminar - urgency, likeabilty, and trust.  Content - not so much.
 
Good points!  Simple, but important to remember.  Thanks.
Dec 16, 2009 3:16 pm

Has anyone bothered to try direct mail lately? I see I have access to an approved letter that offers an exciting review meeting with me. Does targeting 150k or whatever in a tight radius generate appointments or awareness - say, drip 1000 letter four time a year - or is this just a waste of money in anyone's experience?

Dec 16, 2009 3:31 pm
Milyunair:

Has anyone bothered to try direct mail lately? I see I have access to an approved letter that offers an exciting review meeting with me. Does targeting 150k or whatever in a tight radius generate appointments or awareness - say, drip 1000 letter four time a year - or is this just a waste of money in anyone's experience?

 
The numbers I've seen are like a 2% response rate given that you mail consistently.
 
There will always be people that it works for and there will be those that it doesn't.  Repetition is key. 
 
A purely direct mailing campaign never worked for me, but call, mail, call, mail, whatever did.
 
Personally, I get tons of junk mail and I don't open it.  I know I'm not alone.
Dec 16, 2009 9:23 pm
Milyunair:

Has anyone bothered to try direct mail lately? I see I have access to an approved letter that offers an exciting review meeting with me. Does targeting 150k or whatever in a tight radius generate appointments or awareness - say, drip 1000 letter four time a year - or is this just a waste of money in anyone's experience?

 
I think BRANDING helps out with mailings
Dec 17, 2009 8:29 pm
How about "generating income in an uncertain environment"?
 
JPMorgan Funds have a nice sales piece showing how to diverisify your bond holdings, based on your risk tolerance.  Bond diversification doesn't get nearly the attention it deserves from advisors or clients.  Think how much time you spend talking about their stocks vs their bonds.
 
You could use that to tie into taxes/inflation/exchange rates...and relate it to munis/TIPS/floating rate/global.  Sales piece I'm thinking of has 3 different suggested bond models, based on risk tolerance, and presented in a risk pyramid. 
 
2008 made people relatively more conservative, so learning more about bonds is definitely a need that's out there and needs filling.
 
You could then throw in NQ annuities as tax deferral, and/or as an income alternative through use of a living income benefit.
 
sh*t...I might just do this myself now!  Show this to prospects, and they'll ask themselves, "I'm focused on retirement...why hasn't MY advisor talked to me more about income solutions?".     
Feb 22, 2010 4:14 pm

Interesting view from the other side:

 
http://assets.aarp.org/www.aarp.org/articles/money/financial_pdfs/guide_to_finance_seminars_with_older_investors_0110.pdf
 
Some take-aways, no scare tactics - "Is your Annuity and IRA in Danger?" is an inappropriate seminar title.
 
Also, that whole "Free Lunch Monitors Program" and the "What to Listen for Checklist" gives me the shivers.  Not that I am or planning to break the rules, but there are some subjective questions there that I don't really trust the average retiree to even know how to answer correctly.
Feb 22, 2010 4:28 pm

I like how AARP material comes up automatically zoomed 200%.

Feb 22, 2010 5:28 pm

Remember that you get to spread the taxes owed during a Roth conversion over a 2 year time frame.

Feb 22, 2010 5:44 pm
gethardgetraw:

Remember that you get to spread the taxes owed during a Roth conversion over a 2 year time frame.


 
With tax rates set to go up in 2011, I'm not sure spreading the tax liability is the best thing.  If the client can afford to pay the taxes, then depending on their situation and tax rates, it might be best to pay the whole liability in 2011.