Coffee Break with C2P: Debunking Annuity Myths to Overcome Client Objections

The Rainmaker Multiplier On-Demand Podcast

Coffee Break with C2P: Debunking Annuity Myths to Overcome Client Objections

In This Episode

Despite providing a reliable stream of retirement income, few of your clients may purchase annuities due to common misconceptions. Discover answers to common annuity questions or concerns and how to overcome client objections with this insightful episode!

Join host, Kirsten Schlumbohm, Vice President and Head of Annuity Sales at C2P, and special guests, Stoyan Petev, CFA, CFP®, CLU, ChFc, Senior VP of Advanced Markets at C2P, Eric Langenfeld, RICP®, BPC, Vice President of Annuity Sales at C2P, and Greg Hammer, CEO and President of Hammer Financial Group, as they demystify annuities and dispel common myths. Together they discuss various concerns and misconceptions, highlighting the benefits and versatility of annuities in providing guaranteed income, downside protection, and peace of mind for clients.

Key topics covered include:

  • Busting myths around annuity complexity: Addressing concerns about annuities being overly complicated financial products.
  • Debunking fee misconceptions: Clarifying the fee structures of different annuity types and their potential value.
  • Liquidity and access to funds: Explaining withdrawal options and surrender charges associated with annuities.
  • Types of annuities and client suitability: Exploring the diverse range of annuity products and matching them to specific client needs.
  • Annuity performance in market conditions: Understanding how annuities fare in high and low interest rate environments.

Listen in and you’ll learn how to address common misconceptions, highlight the benefits of annuities, and guide clients in making informed decisions aligned with their goals and risk tolerance.

Coffee Break with C2P: Debunking Annuity Myths to Overcome Client Objections

About the Host

Kirsten Schlumbohm is the Vice President, Head of Annuity Sales at C2P. She has over 15 years of industry experience, in which she has served as an insurance and annuity wholesaler, sales trainer and leader, and financial advisor. In addition to her life and health insurance licenses, she holds her Series 66 and a degree from Iowa State University.

Kirsten is committed to empowering people and helping them reach the retirement finish line. She believes in optimizing processes to build strategies out of silos and encourage tighter collaboration. When she isn’t busy helping her advisors, Kirsten can be found running trails in the great state of Oregon, watching Iowa State Football, and changing the world by rescuing one senior dog (or two) at a time with her partner Jeff.

About the Guests

Stoyan Petev, CFA, CFP®, CLU, ChFc, serves as the Senior Vice President of Advanced Markets at C2P, where he spearheads the in-house life insurance division and assists advisors with his knowledge in investment sales and sophisticated planning. His role is pivotal within C2P’s planning-first RIA, Prosperity Capital Advisors, serving both on the Investment Committee and Leadership Team. Stoyan’s journey before C2P spans nearly three decades, during which he has honed his skills across various capacities such as an advisor, distributor, research and investment analyst, due diligence officer, and consultant.

His commitment to education and risk management extends beyond professional advisement, as evidenced by his multi-state insurance licensure and holding Series 7, 24, 53, 63, and 65 licenses. Stoyan is an advocate for financial literacy, particularly within immigrant communities, and has shared his knowledge as an adjunct instructor at Lindenwood University.

Greg Hammer is an experienced financial advisor and entrepreneur with over two decades in the financial services industry. After graduating from Yale University with a Bachelor’s degree in Applied Mathematics, Hammer began his career in 1992. In 2004, he founded Hammer Financial Group, Inc., an independent financial advisory firm providing comprehensive wealth management, income planning, legacy planning, tax preparation, and Medicare planning services.

Hammer has built a successful holistic practice, serving over 2,200 tax clients and 800 financial advisory clients annually. He is recognized for his comprehensive advising approach, integrating financial, insurance, and tax planning under one roof. Hammer has received accolades such as being named a top five candidate for 2014 Advisor of the Year by Retirement Advisor magazine. He is an Ed Slott Master Elite IRA Advisor and has qualified for the Million Dollar Round Table’s Top of the Table. Beyond his professional endeavors, Hammer is actively involved in his local community, serving on boards and supporting charitable organizations.

Eric Langenfeld, RICP®, BPC, is the Vice President of Annuity Sales at C2P, where he leverages his extensive experience to enhance the capabilities of financial advisors. Throughout his career, Eric has trained, managed, and supported over 300 agents in establishing their own businesses. His role as a registered financial advisor and supervising principal for 20 agents has provided him with a deep understanding of advisor needs and operations, enabling him to offer exceptional guidance and support.

Eric’s comprehensive licensure, which includes Ohio Life, Health, Property, Casualty, and Variable lines, along with FINRA Series 6, 26, 63, and 65 licenses, underscores his extensive knowledge and commitment to the financial services industry. This expertise allows him to navigate the complexities of the field effectively and contribute significantly to the growth and success of the advisors he collaborates with.