Matt Seitz is the Executive Vice President of Marketing at C2P Enterprises. He was recently quoted in an article by Financial Advisor IQ on the new SEC marketing rule. It went into effect on May 4, 2021, and wealth professionals must comply by November 4, 2022.

Over 75% of compliance staff at RIA firms reported this new SEC marketing rule is the hottest topic of the year.

It allows advisors to share positive reviews from clients and use third-party ratings and hypothetical performance. Updates like this take time and oversight that requires additional compliance revisions. This may take a toll on small teams.

Read the full article: SEC Marketing Rule: New Engagement Tools but More Red Tape.

Matt worked with the compliance team at C2Pe to put together an eBook on maintaining compliance with your marketing and advertising so that you don’t incur any steep penalty fees.

This eBook will help you update any financial advisor client communications that would be considered advertisements and get ready to validate any statements of material fact included in your marketing materials. Rewrite your policies and procedures, especially those that govern client communication tools, social media use, digital marketing, and testimonials.

Regulations change quickly and often, so you must stay updated on marketing compliance.

Download your FREE copy of Marketing Compliance for Financial Advisors to learn how to:

• Devise a SMART Compliance Plan
• Follow the Rules
• Advise Don’t Suggest
• Keep Up with Compliance Trends

Matt Seitz is the EVP of Marketing at C2P Enterprises and is the Chief Marketing Officer for JL Smith, an independent retirement planning and wealth management firm. Matt also oversees the sales and events teams at C2P Enterprises. In his roles, he has streamlined the marketing-sales funnels, spearheaded the digital growth of the companies, reinforced the brand identities, and implemented content marketing strategies to drive leads into and through the sales pipelines.

Matt has over 15 years of marketing and sales experience in the professional services, financial services, and accounting industries. His professional philosophy is grounded in relationship marketing – focusing on customer service and satisfaction through data-driven marketing plans with clear ROI.

Matt earned his Bachelor of Arts in Business Administration degrees in marketing, management, and human resources from Baldwin Wallace University. He has received industry recognition for content marketing, video marketing, and lead generation campaigns. He is an author and speaker on a variety of marketing and business development topics. Matt is a member of the American Marketing Association and former chairperson of the Association for Accounting Marketing’s Growth Strategies Committee.

About C2P Enterprises

C2P Enterprises consists of four individual companies that share one vision: improving the lives of American families through holistic financial planning. Prosperity Capital Advisors is an SEC Registered Investment Adviser (RIA) that provides financial planning and holistic wealth management solutions to investment advisors and clients nationwide. Valor Capital Management is an SEC Registered Investment Adviser operating as a portfolio strategist and turnkey asset management program. Clarity Insurance Marketing is a best interest-focused insurance marketing organization that facilitates product screening, selection, and support for all lines of fixed insurance products. Clarity 2 Prosperity is a financial training, coaching, and IP development organization committed to simplifying financial planning for financial advisors while helping them understand best practices for integrating investment and insurance solutions in a single, holistic plan. Collectively, these organizations provide advisors the training, resources, products, and tools to successfully grow their independent advisory firm while serving in the best interest of each of their clients.

###

Talking About Life Insurance

We like to pretend we are going to live forever. Most of us would rather do just about anything other than think deeply about our own death. That’s why effectively positioning life insurance to clients is particularly challenging.

Nobody wants to ponder their own mortality. But the reality is that we will all die at some point, and most of us want our loved ones to be well taken care of when that time comes. That’s why selling life insurance is such an essential part of holistic financial planning. You have to learn how to talk to clients.

Selling life insurance is a very personal venture—you are discussing delicate and painful topics.

When positioning life insurance to your clients, focus on the beneficiaries. People primarily buy life insurance to cover end-of-life expenses and care for their surviving family members.

Why a Plan is Not Holistic Without Life Insurance

The Bucket Plan Process is foundational to holistic financial planning and everything we do at C2P Enterprises—including life insurance.

Most Insurance Marketing Organizations (IMO) focus on gross production and sales from their agents and advisors. But we concentrate on client solutions that are in their best interest. We mitigate risk for clients by helping advisors incorporate our best-interest approach in case design, product selection, and implementation of insurance solutions as financial planning tools.

Clarity Insurance Marketing is a best interest-focused insurance marketing organization that specializes in screening, selecting, and supporting top-quality fixed insurance products. Their award-winning services cover fixed and indexed annuities, single premium and traditional life insurance, and asset-based long-term care products.

Clarity Insurance Marketing works with holistic advisors committed to representing the client’s best interests. As such, almost all affiliated advisory practices have either a Registered Investment Advisor (RIA), Investment Adviser Representative (IAR), or registered representative of a broker-dealer in their office to help represent life insurance as a part of a holistic financial planning solution. We mitigate risk for institutions, advisors, and American families nationwide.

To better understand their needs, take each client through the Pyramid of Risk, discern their volatility tolerance, and measure their tax bracket.

It’s crucial that you stay up-to-date on the fast-paced and ever-changing life insurance industry. Study your clients. Try to understand their challenges and goals, so you can find a product that fits their needs.

Once you know what the client expects from a life insurance policy, you can introduce products to help them achieve their goals.

Bucket Plan Certification

Structuring the Conversation of Life Insurance with Your Customer

Positioning life insurance to a 20-year-old is very different than selling life insurance to a 60-year-old. But no matter who you are working with, you should be able to ask questions like,

“If you died tomorrow, would your family be able to pay their bills and continue their current lifestyle?”

Financial advisor client communications should begin by educating them on the difference between term and permanent life insurance, including the advantages and disadvantages of each.

Term life insurance is one of the most popular types because of its simplicity and low premiums. These policies are great for healthy young clients who can secure reasonable rates and use the savings to invest in other securities, but they only pay out if the policyholder dies during the policy period.

For example, term life insurance is better for people ages 25-45. They are typically working through life events like buying a home, getting married, growing their families, or saving for college. They usually have a lower net worth than older age groups and higher debt-to-income ratios.

“Term is like renting an apartment. Permanent is like buying a house. When you rent an apartment, you are building no equity, but it’s generally cheaper. When you buy a home, you’re going to pay more, but you get equity in return. With term life insurance, you have a liability, but no asset to show for it.”  –Dave Alison, CFP®, EA, BPC

Learn more about The Bucket Plan Process and positioning life insurance to your holistic financial planning clients.

Schedule a Complimentary Call

Financial Professional Use Only

The information provided in this presentation is not intended as investment advice or legal advice. The information provided is for informational and training purposes only. The information in this presentation was accurate as of the time of the material was created. Tax laws and rulings can frequently change. Please discuss the client’s current situation with an accountant or tax advisor.

Tax Planning Considerations Financial Advisors Should Share with their Clients in 2023

A recent Grant Thornton survey of tax executives found that over 50% were either re-evaluating their tax planning considerations for 2022 with potential legislation in mind or actively implementing changes in response to legislative developments.

Tax planning considerations for 2022 include a variety of internal and external factors:

• COVID-19 pandemic
• Economic volatility
• Global tax agreements
• Inflation
• Interest deductions
• Legislation
• Remote work
• Research cost recovery
• Revenue recognition
• Supply chain issues

Use tax planning strategies to minimize the cumulative lifetime taxes for your clients and their beneficiaries so that avoidable taxes don’t diminish vital savings.

What are you doing to ensure your client’s family doesn’t end up with a bill to Uncle Sam upon their death?

Engage in tax-loss harvesting and use those losses to achieve gains through other investments that have significantly appreciated during the bull market that led up to 2022. This helps to rebalance the portfolio and control style drift and does not subject the client to taxes.

You can also swap funds of similar exposures to avoid IRS wash sale rules.

You should review the client’s holistic financial plan, so you can recommend tax planning strategies that will result in lower taxes long term.

How To Win Business Through Tax Planning Seminar

Consider Roth Conversions of Devalued Assets

Look at the individual retirement account (IRA) portfolio and select the assets that have seen the greatest devaluation. Then, convert those underperforming holdings to Roth IRAs.

If those assets recover from the current market downturn, the Roth IRA would recover tax-free!

Consider IRA withdrawals if the client has cash flow analysis concerns. Roth conversions could be beneficial if your client’s heirs are in the same or higher bracket.

Consider Exercising Stock Options

One of the most significant tax considerations for 2022 is timing. Knowing when to act and when to wait is essential.

For instance, you should consider exercising stock options when share prices are down to help reduce income taxes on non-qualified stock options (NSO), and alternative minimum taxes (AMT) on incentive stock options (ISO).

Work with Your High-Net-Worth Clients to Create Larger Deductions

Did you know that 92% of high-net-worth investors expect their advisor to provide tax advice, but only 25% of them are receiving it?

One of the most important tax considerations for 2022 and beyond is to be proactive to changes in the market, not reactive. This will help you forecast accurate predictions that will save your customers money.

By putting solutions and strategies in place to anticipate changes, you will differentiate yourself from other advisors and tax professionals, allowing you to charge more considerable financial planning fees.

For affluent clients in high tax brackets who have non-qualified money, you should consider direct indexing separately managed account (SMA) strategies with aggressive daily tax loss harvesting. This creates large deductions with the wild daily volatility of the stock market.

Have Your High-Net-Worth Clients Gain through their Generosity

For your wealthiest investors, consider giftings a portion of their assets to irrevocable trusts now, while the gift tax exemption is high and valuations are low.

The client will get more return on their investment from a taxable estate while consuming less of the gift tax exemption now that valuations are reduced.

Financial advisors must be aware of many tax planning considerations for 2022 as they work to win business through tax planning.

C2P Enterprises can help you provide better financial advice and tax planning considerations for next year.

Schedule a Free Consultation
 

Financial Professional Use Only

The information provided in this presentation is not intended as investment advice or legal advice. The information provided is for informational and training purposes only. The information in this presentation was accurate as of the time of the material was created. Tax laws and rulings can frequently change. Please discuss the client’s current situation with an accountant or tax advisor.

Q: What’s one of the most effective ways to promote your holistic planning services?

A: Write a book!

Yes, you can … and here’s why you should. Writing a book validates your credibility as an expert, instantly. It makes you newsworthy, boosts your visibility, and establishes your professional legacy. And—if done right—your book will help people in your community achieve greater financial security and freedom.

We learned this firsthand with Jason’s book, The Bucket Plan: Protecting and Growing Your Assets for a Worry-Free Retirement, which garnered more attention than we ever imagined it would.

Now it’s your opportunity to become a published author. Beginning this winter, New York Times bestselling ghostwriter and long-time friend of C2P, Pamela Suarez, will be ready to partner with you to create a book about holistic planning that you’ll be proud to share with clients and prospects. Pamela and her team have developed a streamlined process for creating quality books quickly and cost effectively. They do all the heavy lifting, and you’ll have your books in a matter of weeks.

This turn-key book service starts at just $10,295—that’s a fraction of what it costs to create a book the traditional way—and includes the first 250 copies shipped directly to you. You’ll be able to order additional copies for as little as $4 each.

Book package availability is limited, so if you’re interested in this amazing marketing opportunity, don’t delay. Contact Pamela today at writer@pamelasuarez.com.

Effective client communication uses your own processes for success

In a 2019 survey, 85% of respondents said they would consider a financial advisor’s communication style when deciding whether to retain their services or not. This highlights just how vital it is to adopt the right financial advisor technology to enhance interactions and client satisfaction.

So, what digital tools for financial advisors can you use to strengthen client relationships and deliver ongoing value across every stage of the customer lifecycle?

Think of your client communication tools as a digital assistant

Today’s financial advisor tech landscape includes a wide variety of digital marketing tools:

• Instant messaging apps
• Project management software
• Video conference systems
• Document storage solutions
• Calendar schedulers
• Social media integrations
• CRM

These digital tools for financial advisors allow you to streamline daily operations, maintain client engagement, and grow your business. Before implementing any new tools, be sure to get marketing compliance approval.

How can a CRM assign your tasks effectively?

A CRM (Customer Relationship Management system) is one of the most valuable pieces of financial advisor technology. It allows you to store client data, track interactions, notes from meetings, buyer’s journey and automate communications.

Marketing strategies for financial advisors include assigning and scheduling automated marketing campaigns and content like lead nurturing emails that a lead or client triggers in the CRM with their online behavior.

All of your content, including anything published on social media, should be approved by marketing compliance.

How can you build out your practice’s CRM

Unfortunately, most wealth managers aren’t marketers, so they’re probably not taking advantage of all the benefits and features of their CRM.

For advisors to succeed, they need to reach new prospects and leads to expand their client base, so optimizing the CRM is the first step to growing and scaling marketing strategies for financial advisors.

• Schedule automated marketing workflows that will constantly be working behind the scenes to keep your prospects, leads, and clients engaged with your firm and the content you produce.
• It has the capacity to track all activities, so utilize your CRM to maintain contracts, files, notes, call logs, etc.
• Document the interactions between advisors and clients in your CRM ensures that anyone in your firm can pick up the phone and confidently call a client in your database because the advisor will have all of the relevant information right in front of them to reference.

Reporting is your secret weapon

The most effective financial advisor tech and the best marketing strategies for financial advisors include detailed tracking and reporting metrics.

Digital marketing for financial advisors has redefined how wealth managers talk to clients. We have the capabilities to follow a user’s behavior and see how they interact with our content and marketing efforts, then analyze that data to make smart business decisions.

Using a scheduling App to optimize your day

Scheduling meetings takes up valuable time throughout your day that could be better spent.

The best digital tools for financial advisors include built-in calendar sync and customizable reminders, helping you stay on top of every task.

Set daily, weekly, monthly, and quarterly reminders for yourself, so nothing falls through the cracks again.

How can advisors ensure their communication tools work together

For financial advisors looking to implement automated marketing communication tools, the goal should be an optimized client experience.  Make sure any systems or processes you implement come with a smooth transition and easy-to-use features your clients won’t struggle to access.

Integration is key. If you have a dozen different tools that don’t work together toward a common goal, your practice will suffer from the confusion that occurs.

Essential Guides for Financial Advisors

Build a modern client experience with the right financial advisor technology

C2P Enterprises provides marketing services to firms in the financial industry.  Our digital marketing programs help advisors:

• Build brand awareness
• Increase credibility
• Automate their marketing processes giving them the freedom to become a better financial advisor.

For more information on our marketing programs

Schedule a 20 Min. Call

Financial Professional Use Only

The information provided in this presentation is not intended as investment advice or legal advice. The information provided is for informational and training purposes only. The information in this presentation was accurate as of the time of the material was created. Tax laws and rulings can frequently change. Please discuss the client’s current situation with an accountant or tax advisor.