the

Vol. 6 No. 12 • December 2005 Official IARFC Publication Single $9 • Yearly $99 in this issue He’s an Advisor, Register Letters...... 2 Not an Apprentice Chairman’s Desk ...... 4 An IARFC member, Mark T. Lamkin, Advisors Sharpen Louisville-based financial advisor has Their Blades ...... 5 demonstrated how to gather a lot of The Unauthorized national attention, and excellent Practice of Law ...... 6 experience at the same time. He volunteered to be one of the Your Estate of Mind ....8 contestants on Donald Trump’s The Researching Your Apprentice national NBC-TV program. Target Markets...... 9 You may not be a regular viewer of this program, but you would have enjoyed What Happens When how Mark represented himself, and our You Are Sued? ...... 10 profession. Mark Lamkin, CSA, RFC® Consumer Focus...... 12 Profile: He really wasn’t seeking a position as an apprentice to “The Donald” but The Dunton Award....13 Mark O’Dell to receive valuable experience and publicity. Mark is a member of the Cato Comments...... 14 Chairman’s Club of his broker/dealer, Linsco/Private Ledger, and the Mark O’Dell, RFC®, CLU, ChFC, president of Lamkin Wealth Management. He has a Finance Degree from Seven Communication Executive Vice-President and the University of Louisville and he recently completed an MBA from Strategies for You .....15 ® General Manager of American Bellarmine University. In addition to being an RFC , Mark holds the A New Source of International Assurance (AIA) CSA designation. Qualified Prospects ..16 Company Limited, Singapore, is a continued on page 5 thoroughbred insurance man who Get Your RFC has spent his entire professional Advisor Website ...... 17 career — 25 years and counting — Financial Advisors working in the financial services Art Linkletter’s Advice to RFCs Forum Program...... 18 industry. O’Dell has an easy-going disposition that makes him a perfect Art Linkletter’s career includes being a movie actor, radio personality, fit for the insurance industry. television star, best-selling author, ambassador and professional speaker. The Register is Refreshingly candid, he calls himself Reader’s Digest reported, “Art Linkletter is one of the most beloved men published monthly by a “college dropout” who initially in the United States!” Currently he appears on network TV, in many the International wanted to become an architect, but areas, with comedian Bill Cosby. This American icon has two EMMY Association of never got around to itbecause he got Awards, four EMMY nominations, one Registered Financial impatient with school. GRAMMY Award, ten honorary doctorate Consultants ©2005. degrees, plus many other honors. He It includes articles and He decided to work as an insurance has written 23 books. Art has served on advice on technical agent in 1980; with no grand many corporate and philanthropic Board subjects, economic ambitions whatsoever to be at the of Directors and is respected for his events, regulatory pinnacle of the insurance industry work as Chairman of UNICEF. actions and practice where he is today. He remembers management. The how, as a young agent, he ran into a Linkletter, is as famous for being a multi- IARFC makes no claim sales slump barely four months into millionaire businessman as he is for as to accuracy and his job. “I was intimidated by the performing. For over 30-years Link-letter does not guarantee or sales process and felt nervous about Oil Enterprises has drilled for oil and gas endorse any product or calling people. I just turned 22, in Argentina, Peru, Venezuela, Canada, service advertised or didn’t own any insurance and didn’t Alaska and all parts of the USA. Art was featured. Articles, have many friends who could afford highly active in the start-up of the comments and letters to buy policies from me,” he recalls company that is now Freeport-McMoran, are welcomed by e-mail his beginner’s snag. one of the leading corporations on the to: [email protected]. Art Linkletter New York Stock Exchange. ISSN 1556-4045 continued on page 3 continued on page 5

www.IARFC.org Serving Financial Advisors Worldwide 800 532 9060 Register Letters We welcome your comments, suggestions and ideas. Please direct correspondence to: [email protected] Letters may be edited for length and clarity.

Financial Planning Building What a nice surprise to load up the new I suppose we are similar to a “circus 2507 North Verity Parkway IARFC website, which is much easier to barker” or “ring master” since we have to P.O. Box 42506 Middletown, OH 45042-0506 view and navigate. Please consider using coordinate so many people into getting 800 532 9060 • Fax 513 424 5752 homepage to directly address prospects organized, making sure they’re on top of www.IARFC.org (why and how to find us) and use the ball, and balanced on the beam, as another page for why advisors should much as possible financially, can still BOARD OF DIRECTORS become a RFC. I think that would be a swing or reposition from time-to-time, and more effective use of search engine have a net under them most of the time. Edwin P. Morrow, Chairman & CEO optimization and more profitable for the CLU, ChFC, CFP® , CEP, RFC® RFCs who would welcome new clients. I Also, when people have decided to eat [email protected] also think the terminated RFC language fire or swallow swords, we try to sooth Judith Fisette-Losz, Executive Director may be a bit confusing as to whether their ills as much as possible. And we [email protected] someone just resigned on their own or “hold their hands” to help get them away whether they were terminated for not from any crisis. When the animals come H. Stephen Bailey, President paying overdue membership fees. running out of their cages, we try to LUTCF, CEBA, CEP, CSA, RFC® [email protected] make sure they have enough stored food The Financial Advisor Profile section was to keep them at bay. Jeffrey Chiew very easy to update. I printed cards to ® ® DBA, CLU, ChFC, CFP , RFC match the IARFC Ethics brochures and And last, but not least, when the [email protected] stapled them to the back. Monday night “clowns” travel out on those undersized John E. Grable a prospective client asked me “Why cycles, tiny cars, or wobble on only one MBA, Ph.D, CFP®, RFC® should I trust you?” I merely pulled out wheel unicycles waiting for an accident [email protected] the brochure and he closed himself. to happen — we are waiting in the wings Vernon D. Gwynne to assist in picking up the pieces so they CFP®, RFC® It is important to me that I am promoting can keep a smile on their faces. [email protected] a designation worth promoting, unlike my Derek D. Klock membership in the now devalued, easily This is why the public will always need MBA, RFC® obtained CSA. This Saturday I will be qualified financial advisors! [email protected] attending the Texas NAELA chapter meeting where I will again use the Constance O. Luttrell, RFC® Edward J. Ledford ® brochure to promote the RFC designation Franklin, TN CLU, RFC to the membership. Your continuing [email protected] restrictive standards and improved Constance O. Luttrell website are as helpful as I had hoped Available Free For IARFC Members RFC® and may well be worth the $50 dollar [email protected] increase in membership fees next year The Federal Reserve Bank of Atlanta Ruth Lytton (but let’s not get too carried away). I have publishes a quarterly magazine titled MS, Ph.D., RFC® been disappointed with the membership Economic Review. This publication is [email protected] churn at CSA and the huge drop in available at no cost for IARFC members. James McCarty, Secretary membership at SFSP where I used to be To receive this journal simply write and CLU, RHU, LUTCF, RFC® a member. ask to be placed on the mailing list to: [email protected] Charles Luedtke, RFC® Public Affairs Department Burnett Marus, Treasurer Mesquite, TX Federal Reserve Bank of Atlanta RFC® [email protected] 1000 Peachtree Street, N.E. Atlanta, GA 30309-4470 William J. Nelson Helping Keep Everything Going ® LUTCF, CEP, RFC Under The Big Top! Keep up the good work for all the IARFC [email protected] members. See you at the Forum in May! Ruben Ruiz The IARFC and the Register guide ChFC, CLU, MSFS, CSA, RFC® advisors who are trying to help their Lester W. Anderson, MBA, RFC® [email protected] clients deal with the “Circus of Life.” Duluth, GA ______

Wendy M. Kennedy, Editor [email protected] The Register welcomes your articles about the profession, planning techniques and Stephanie Langster, Administrative Assistant practice management. You may submit articles of 300 to 1,500 words via [email protected] e-mail, with an electronic photo and a short bio of not more than 100 words.

Page 2 The Register • December 2005 continued from page 1 O’Dell Profile INTERNATIONAL From this early setback, which almost made have more options to save. Everybody him quit the industry, to being a top wants a piece of this action. But we have IARFC executive in one of the world’s most been focusing on our true mission — which COORDINATORS established insurance firms overseeing one is to offer protection. Nobody can take that of Southeast Asia’s most developed from us.” insurance markets. O’Dell says that his Jeffrey Chiew professional trajectory has been forged by a In fact, AIA Singapore has maintained its Asia Chair belief in building and maintaining strong number one position in the country under DBA, CLU, ChFC, CFP®, RFC® personal relationships. The genial American O’Dell’s charge, but he remains vigilant and [email protected] calls it an ‘art’ that not only got him to is mindful of the increasing competition, where he is today, but a tool that other especially from the banking sector. “Where Liang Tien Lung companies can use to differentiate we will continue to develop will be in more China Development Organization (IMM) ® themselves. advice-driven transactions, and also as an RFC effective distribution channel, focusing on “Growing up in the business, I learned the the quality and experience of the delivery of Ralph Liew Philippines Chair importance of proper fact-finding, getting our advice,” he explains. As for future RFC® input on what people could commit from trends, O’Dell says that there is a marked [email protected] their financial resources, proposing shift towards “increased disclosure and Joyce Manalo solutions and so on. But more than that, I transparency” in the Singapore and other Executive Assistant think the true creativity in our business Asian markets which will benefit the end- [email protected] comes from how you get people to open up consumer. Consumers will eventually be about their goals and objectives, and getting empowered to make the choices that they Jerry Tan them to realize the importance of acting need to make. Singapore Chair now,” he speaks from the bottom of his CIAM, CMFA, RFC® heart. “The financial planning process is As for the future of AIA Singapore, he feels [email protected] merely the professional extension of what I that it lies in the continued development of and others learned in selling life insurance.” the agency distribution business and more Zhu Xu Long specifically, the enhancement of the China Chair, Shanghai Formerly based in Ithaca, New York, O’Dell professional capabilities of its advisors. This RFC® was initially apprehensive about working in explains why he is so supportive of the [email protected] Asia, but recalls being swayed by a speech IARFC Singapore’s inaugural professional by public speaker Anthony Campolo at a course which encompasses both technical Samuel W. K. Yung, MH seminar he attended. Anthony spoke about and soft skills. Chair, Hong Kong and Macao Chair ® ® a survey done on a group of 90-year-olds CFP , MFP, FChFP, CMFA, CIAM, RFC [email protected] and most of them felt that they would enjoy Mark believes that the scope of the more out of life if they had taken more risks advisor’s duties has changed so Dr. Teresa So on a personal and professional level. He dramatically compared to 10 years ago and Advisor, Hong Kong and Macao PhD, MFP, FChFP, CMFA, CIAM, RFC® was so inspired by the survey findings that one has to be mindful of the true value of [email protected] he took the leap of faith and relocated to the services that are provided. Ultimately, Allan Wan Singapore in 1994, serving as AIA it’s the craft of building a rapport and ® Singapore’s Vice-President and Director of confidence with prospects to act on their RFC [email protected] Agencies. In 1996, he was posted to recommendations that is important. He Jakarta, Indonesia as the company’s Agency elaborates, “In a sophisticated market like Ng Jyi Wei Vice-President and during his five-year ours, we have to earn our keep more. We Malaysia Chair tenure there, earned his promotion to Senior have to demonstrate and earn that respect ChFC, CFP®, RFC® Vice-President and General Manager. by truly understanding his needs and [email protected] serving them. So what’s better than Now back in Singapore after spending a engaging in continuing education while Aidil Akbar Madjid subsequent four years in Malaysia, O’Dell staying productive and competent?” Indonesia Chair feels that the Southeast Asian insurance MBA, RFC® market, while increasingly developed and O’Dell is one of the founding members of [email protected] showing sophistication, is still not as mature IARFC Singapore and has been instrumental Lisa Soemarto as the US market. He evaluates market in sharing its mission to qualified MA, RFC® maturity from the sophistication of its professionals and generous in providing [email protected] products, distribution methods, and its seed funds to this progressive non-profit competitiveness. He also acknowledges organization. Other than business, he is Jeffrey Chen that cultural nuances have played a pivotal equally passionate about wine, golf and Taiwan Chair role in shaping the Asian insurance market Asian cuisine. Mark is also active in RFC® and he demonstrates a need to understand community service and a council member at [email protected] and work with these differences. He the Singapore Cancer Society. Œ elaborates, “That’s why life insurance in this Preecha Swasdpeera Thailand Chair region started out from a long-term savings Mark O’Dell can be contacted at: 1 Robinson MPA, MM, RFC® angle. However, as the market developed, Road, #13-00, AIA Tower, Singapore 048542 [email protected] competitors came in and customers now or e-mail: [email protected]

The Register • December 2005 Page 3 From the Chairman’s Desk...

Ending the Year. The year 2005 has been very good to the IARFC. We have continued our growth in members, expanded operations in many countries and we are making excellent progress in other areas. I expect to report on the successful establishment of an RFC organization in at least 4 more countries in 2006 based on the developments we have underway now.

RFC Course. We are working now very diligently to develop our own courses. To some extent this will be in competition with CFP® and ChFC — but with very different formats: We expect to offer local classes in many cities. Our course will emphasize marketing, practice management, firm operations and plan construction as well as the typical topics of economics finance, taxation investments and risk management. The RFC course will include valuable software elements for the students and it will require each student to create a comprehensive financial plan.

Where the IARFC How Can You Help? First, it is vitally important that we continue to add new will be represented: members in the United States. There are thousand of CFPs and ChFCs who can benefit from what the Association offers. But, we need the help of our current Hong Kong — RFC Classes members — who have always provided the best source of new member referrals. February 15, 2006, Hong Kong Please take action to nominate qualified candidates. Every new member University strengthens our capacity to increase member benefits and increases the image of the RFC designation. When you help the Association grow with high caliber financial MDRT Experience advisors, you increase the value of the RFC® designation for yourself. February 17-19, 2006, Bangkok, Thailand Forum Attendance. Yes — it will really be limited based on the space available at the Manchester Inn! So register now and reserve one of the inexpensive, but high Financial Advisors Forum quality, rooms at this historic Inn. Œ May 11-13, 2006, Middletown, Ohio

MDRT Annual Meeting June 11-14, 2006, San Diego, CA New RFC and RFA members International Dragon Awards August 11-13, 2006, Chengdu, China Cynthia A. Aber AZ Dr. Edward Leone Jr. CO Michael Amine MI Robert E. Lorbeck WI IARFC Cruise/Conference Ian Atherly Trinidad Scott Nichols UT October 5-15, 2006, Port of Earl Eugene Bain, Jr. NC Douglas Clark Nickson WA Galveston, TX Harrison Matthew Clement NC Victor K. Ray MT Stopping at the popular ports of Suzanna M. deBaca IA Michael Reiman TX Jamaica, Grand Cayman & Cozumel Joseph Elgindy PA Janet W. Ricker TX Anthony J. Esposito FL Anthony D. Ries MI MDRT Top of Table Charles D. Etzweiler MN Jason T. Rosener CO October 18-21, 2006, Cancun, Mexico Jeanne K. Hagar MA Benjamin A. Russell VT Edwin Hernandez NY Micah Vincent Shilanski AK Heckerling Estate Conference Ivan Hernandez NY Christopher L. Shreves MO January, 2007, Orlando Christopher Hessenflow IL Wilhelm E. Silber IL Michael C. Hoffman CA Gerald D. Snyder FL AP finSA Conference James G. Hollingsworth UT Leonard J. Suchobrus IL April 13-15, 2007, Taipei, Taiwan Gali Horev CA Kwan Po Tang NY William Richard Infante CA Joseph J. Vap IA Financial Advisors Forum Thomas H. Judge NJ Abby A. Wood CA May, 2007, Reno, Nevada

MDRT Annual Meeting June 10-13, 2007, Denver, CO Members Who Recommended New IARFC Members

If you are going to attend any of Steve Bailey Jim McCarty Len Pappas these events, please let us know. Ric Edelman Ed Morrow David Stitt John Grable Lew Nason Mark Terrett Ed Ledford Bill Nelson Katherine Vessenes

Page 4 The Register • December 2005 continued from page 1 Mark Lamkin Advisors Sharpen Their Blades While Mark, and his colleagues on The With The “Nine Out Of Ten” Guy! Apprentice got vocally fired by “The Donald” all of his associates, and probably his clients as well, enjoyed his participation on the program. Mark is an experienced businessman, having owned and sold eight successful businesses over the past ten years. He and his wife, Jennifer, have two children, and he is an active board member of a local Christian school as well as other civic organizations.

In an interview on NBC (www.NBC.com/ The_Apprentice_4/candidates) he described his style. “My leadership style is visionary. I have a burning desire to help people reach their potential, both personally and financially. I believe a person’s level of success is determined by the size of their dreams, or specifically, Above (Left to Right) speaker James Lange, CPA, JD, RFC®, author of the recently released their goals. I lead people through simple book Retire Secure, who will also be a featured speaker at the Financial Advisors Forum; exercises that help them define both Phil Calandra, RFC®, FMM, MBA of Atlanta; Financial Planning’s Media Advocate Forrest personal and business goals.” Wallace Cato, RFC®, RFMA, CPC, CRR of Woodstock, Georgia; Jamie McGarry, RFC®, MBA from Indianapolis; and Lew Nason, RFC®. Asked whether or not he considered himself a “success” Mark replied, “I ® consider myself “a success” today, but I For over two decades, Lew Nason, RFC , said, “Take the coins from your purse realize that true success is a process, not FMM, LUTC, creator of the industry- and dump them into your mind. Your an event….true success lies within the famous Insurance & Financial Planning mind will then fill your purse with coins journey of life, not a milestone of money, Pro Shop, (above far Right) has helped again and again!” Œ status, or promotions.” Œ advisors achieve long-term success by improved sales and client service. Lew became well known as “The nine-out-of- Lew Nason, RFC® has been helping ten guy!” during his thirty years as an agents to achieve long-term success in continued from page 1 Art Linkletter insurance sales agent. During those insurance sales for over two decades. As years Lew achieved a record sales a Sales Rep and Having been involved with several million average of closing nine-out-of-ten Branch Manager acres of land “Down Under,” his presentations. He will be demonstrating for a major life pioneering work in sheep and cattle some of his powerful techniques on company he stations in Australia is also well known. motivating clients at the Financial continuously He is Chairman of the Board of Linkletter Advisors Forum. qualified for their Enterprises, building and managing public prestigious storage houses, office buildings, cow-calf Every two months, as a consultant, coach conferences and operations, plus ranches in Montana, New and mentor, Lew conducts his well- became well- Mexico and California. Linkletter’s real attended sales improvement sessions at known as the estate developments include residential the Atlanta Airport Hilton. The program “Nine out of ten projects in AZ, industrial land in Phoenix; this Registered Financial Consultant guy!” During his residential land in Paradise Valley, CA, directs covers such topics as Advanced tenure, he airport land at Deer Valley, CA, office LTCI Sales Excellence and Advanced recruited and Lew Nason, RFC® buildings in San Jose, CA, undeveloped Annuity Sales Excellence, plus Attracting trained 23 residential property in San Diego, CA, Wealthy Prospects. inexperienced agents, and 10 years later condominiums in Vail, CO, and San 18 of those agents are still active in our Antonio, TX, plus land in Las Vegas, NV, Lew Nason told The Register, “We industry and earning six figure incomes. and cattle and sheep stations in Australia. consider our sessions to be opportunities for sharpening your blades and to learn His website www.insuranceproshop.com Linkletter is a long time professional and more about cutting taxes for your clients! was ranked (by Google) as the most personal friend of Wally Cato, and has After our two-day meeting financial popular financial planner and insurance become familiar with the IARFC and the advisors will have more and sharper agent support center on the Internet. His standards it has established for the weapons to use in fighting for their clients. unique perspective, on how to truly help financial services professional. This is symbolized by these financial clients, has enabled scores of agents to professionals in the photo holding various reach the top levels of their profession. If As a reader of the IARFC Register, he was types of blades.” you’d like to know more about Lew’s pleased to comment on the importance of workshops, you can phone Lew at Image to financial advisors, in an Lew’s favorite quote for advisors and 877 297 4608, or go to: exclusive interview, on page 14. Œ clients alike is by Benjamin Franklin, who www.insuranceproshop.com. The Register • December 2005 Page 5 The Non-Attorney Financial Advisor and the Unauthorized Practice of Law

A number of states, (i.e. Ohio, Florida, and • A will, North Carolina, to name three) have • A durable power of attorney for recently adopted statues making the health care, unauthorized practice of law a crime • A durable power of attorney for punishable by a fine and/or imprisonment. general assets, • A living will, The best case law authority of that • A nomination of conservator/ discusses this subject in some detail is a guardian, and perhaps, per curium decision of the Florida • A Five Wishes Directive, Supreme Court that was published in • A Do Not Resuscitate Order, 1992. If you do not have it, e-mail NICEP • An anatomical gift election, and and Bob Miller will see that you get a copy. • A good precatory letter explaining That decision basically discusses the four how some or all of these documents guidelines set out above and guidance as are to be used and interpreted. to what the non-lawyer can and cannot do. Every advisor would be well advised to And, if they wish to avoid probate, they Charles Matthews, JD, CEP, RFC® read it. should seriously consider a revocable North Carolina and Texas, along with Ohio, living trust. New Jersey, Washington, Pennsylvania, If it is the lawyer’s sole prerogative to and Florida are currently known as counsel with the client and advise him as At that same seminar the financial advisor particularly strict states in terms of their to what estate planning documents he can tell those in attendance that if they do interpretation and enforcement of the should have, and oversee the drafting and not have a lawyer versed in estate strictures against the unauthorized assembly of those documents, what is the planning he can refer them to one. practice of law. Moreover, many other role of the financial advisor? states seem to be adopting similar “no 3. Following a seminar, when he meets tolerance” positions. According to this same Florida Supreme with his clients or prospects, the Court decision, the financial advisor can financial advisor can fill out an estate That being the case, and knowing that gather the personal and financial planning workbook with the client’s Registered Financial Consultants as well information from the client necessary for personal and financial information as Certified Estate Planners would be any lawyer to draft a client’s estate that a lawyer will need to counsel particularly interested in this subject planning documents and, if the client with the client as to his estate plan because of recent activities of Bar elects to write a revocable living trust, and that the financial advisor will Association Authorized Practice of Law the financial advisor can offer advice need to advise the client as to his Committee. This topic is a terribly as to the funding of the trust from a financial plan. important subject of vital concern to any financial standpoint. financial advisor. With the client’s permission, (which Based on this and other materials that bar will always be forthcoming), the In every state, except perhaps Arizona, associations in Ohio, Idaho, Wyoming, and financial advisor can forward this only a lawyer in good standing with his or other states have recently published and information to the attorney and then her state Supreme Court can: recent decisions of courts in New Jersey enjoy the luxury of leaving the and Texas it is apparent that the best responsibility for the legal documents 1. Counsel with an individual client course for a financial advisor is to: entirely to the lawyer. about his need for estate planning documents…the term “counsel” being 1. Establish a working relationship While the lawyer is doing his work, the used in the broadest sense of the with a local lawyer in good financial advisor can develop a word, meaning “advise after a standing in his or her state who is financial plan for the client, knowing thorough consultation.” knowledgeable and experienced that he has all the information needed dealing with trusts, wills, and estate to develop a truly comprehensive and 2. Recommend that an individual client planning in general. well thought out financial plan. have a will or a revocable living trust, or any document that deals with the 2. Give seminars on estate and In all events, the financial advisor client’s property or property rights. financial planning in which he may must leave the legal part alone and say, in first amendment protected concentrate on what he does 3. Oversee, supervise, and control the speech, that the recent Terry Shivavo best…financial planning and drafting, production, and assembly of case, the books of well known financial advice. the client’s will, revocable living trust, authors, and his own experience in or any document that deals with the dealing with his clients, his family, To go on…there can be no splitting of fees client’s property or property rights. and his friends is that nearly or solicitation for the lawyer on the part of everyone who owns real estate the financial advisor. Everything must be 4. In some states, not all, a lawyer must and/or has an estate that exceeds at arm’s length. also be present when a will or a trust the small estate probate limit of his is signed, witnessed, and notarized. state should have: continued on page 7 Page 6 The Register • December 2005 continued from page 6 Unauthorized Practice of Law

If the financial advisor is to be paid for his Who, in my experience and estimation of services, the client must pay the financial NICEP members, are the lawyers with advisor for his advice with one check and whom financial advisors have the best Become a Certified pay the attorney for his services with experience working with in this area? another check. Do not permit the client to Estate Planner combine both payments. 1. General practice lawyers working solo or in small firms, generally The financial advisor should never collect knowledgeable about estate Visit us online at the lawyer’s check. Let the lawyer collect planning, wills, and trusts, who give www.NICEP.org his own fee and generate his own great service, and who are truly or call 765 453 4300 documents and stay out of the process. committed to serving the best for more information about interest of their clients. Do not waste your time, endanger your how the CEP designation will reputation, and risk your livelihood trying 2. Stay at home mom and semi-retired bring knowledge and to skirt around these guidelines. lawyers, who meet the same criteria. distinction to your practice. Indeed it is true, and most lawyers and On the other hand who, based on judges I know would agree, that, as retiring experience and estimation, are the lawyers United States Supreme Court Justice that financial advisors must avoid at Sandra Day O’Conner, recently said: all costs:

“We all need to be concerned about the 1. Lawyers who want to be or who are increasing, and on many levels, quite comfortable being nothing but a frightening, over legalization of everyday rubber stamp; who do not want to life in our country today: There is little meet or consult with clients; who will hope of restraining the lawyers anytime not commit to doing the things that soon because these same lawyers in the Florida Supreme Court says they many states, largely control the reform should do: process.” lawyer to doing as little as possible 2. Lawyers who are lazy; who do not and having as little contact with the There are a lot of good reasons why only a give good client service; and who do client as possible. lawyer can and should recommend a not return telephone calls: document that controls a client’s property 4. They encourage the financial advisor rights and why only a lawyer can and 3. Lawyers who will not take the time to to engage in the unauthorized should oversee the production, writing, learn the basics of estate planning; practice of law with specious and oily and assembly of that document: who are interested in quantity not arguments, but offer the financial quality; and who expect the financial advisor no protection should he be 1. The lawyer (that you want to work with) advisor to do all the work: hauled before a court or a regulatory is trained, experienced, up to date, and body for his activities. knowledgeable in this particular area of 4. Lawyers affiliated with a trust mill. the law. 5. Their business is either the production And what is a trust mill? It is a sad fact of as many estate planning 2. He has ready access not only to the that trust mills today come in all sorts of documents as possible and/or the sources of the law, but to his peers and shapes and sizes. They can be local and sale of one size fits all high colleagues, and is thus in an ideal work only in your hometown; they can be commission paying financial products. position to keep abreast of what the regional; and they can have a national law is, and how it is actually practiced presence. But all of them have certain 6. Do not be misled by the platitudes in your state. telltale signs that give them away: and baseless misrepresentations of these trust mill outfits. They have no 3. The lawyer and his practice are 1. They overstate the difficulties of interest either in you or in your regulated by some rather strict rules probate and the benefits of a clients. Their bottom line concern is backed up with tough sanctions revocable living trust. their bottom line and nothing else. promulgated by his Bar Association and his state’s Supreme Court. 2. They overstate their qualifications, In sum, you must make it a point to work (mis)represent to the public that they with a local lawyer who will work with you; 4. The lawyer has (or should have) have consulted with multitudes of who will commit to doing the things the malpractice insurance, and you have lawyers to draft their documents, and Florida Supreme Court says he must do; no insurance at all that will cover you that they consult with these lawyers who will counsel with the people you refer should you make a mistake in this regularly to make sure their to him; and who has a reputation for being area. documents are up to date and smart, ethical, and giving good service. current. You will want to work with this lawyer 5. The lawyer is only representing the as a team. legal interests of his client and is not 3. They “bash” lawyers as greedy and interested in anything else. lazy, and try to relegate the role of the continued on page 8 The Register • December 2005 Page 7 continued from page 7 Unauthorized Practice of Law

Tell your clients, up front, that you are not Once the client is in your office, gather the This article was prepared by Charles D. a lawyer, that if they need some estate information and proceed to do your job Matthews, Executive Director of NICEP — planning advice and they do not have a and let the lawyer do his job. And, if the the National Institute of Certified Estate lawyer you will be glad to refer them to a lawyer does not do his job and if your Planners. NICEP offers a three day very good local lawyer, and leave the clients are not happy with the lawyer you accelerated course in estate planning the estate planning counseling, the document refer them to…find a new one who will give qualifies for 24 units of CE for IARFC recommendations, and the document good client service…it is as simple as that. members. Those who complete the preparation to the lawyer. course and pass two examinations are When you meet and strike up a working awarded the CEP designation. As a qualified financial advisor, if you will relationship with a good local lawyer, show avail yourself of the education that is him this article and get his input. NICEP does not give either legal or available through NICEP, you will be able to financial advice. No one should take any give a great seminar and answer the If the lawyer disagrees with any part of action upon anything contained in this questions that will be presented to you what has been written, follow his advice. article until they first discuss their at your seminar. This will give you There are indeed isolated pockets across individual fact situation with an attorney immediate credibility. the country even today where lawyers licensed in their state who is in good attempt to enforce unauthorized practice standing with their state’s Supreme Court In this context, remember that you are not of law regulations against those who and who is knowledgeable of their advising the individual client. You are only would publish legitimate main stream state’s law. doing what Suzy Orman and many others books on the subject of estate planning, have done and continue to do and what is and against those offering social services quite legitimate in the eyes of most-as an when it is admitted that lawyers cannot be expression of First Amendment protected found in the community to offer those Charles holds both the CEP and RFC® free speech in a public forum. same services. designations. He is the architect of the revised CEP curriculum and the principal It is in the context of meeting with How the unauthorized practice of law is instructor. He is the author of many estate the individual client that you cannot regulated in your state and in your planning articles and documents. He is give legal advice, counsel, or hometown is something you must become past President of the Estate Plan Company recommend specific documents. Your cognizant of and deal with. Your best of Las Vegas. He has held political performance, confidence, and obvious source for this information is a good, positions, including being a former State knowledge and preparation at your reliable, ethical, knowledgeable, local Representative and member of the seminar will assure that most of those in lawyer who has a reputation for giving Arkansas General Assembly. To reach attendance will make appointments and good service. Work with him and follow NICEP, call 765 453 4300 or e-mail: meet with you. his advice. Œ [email protected]

Your Estate of Mind By Arthur W. Rothfuss, CEP, CSA, RFC® Avoiding Family Lawsuits

Estate Plans are often challenged by Ray Charles (September 23, 1930 — Only time will tell if the famous musician’s heirs — for a variety of reasons. Was the June 10, 2004) whose estate amounted estate plans will be upheld in court. deceased under influence? Is the to an estimated $100 million left his Perhaps the executor will have to recorded document really the last one 12 children with trusts amounting to compromise or the bequest to the executed? Are there missing only $490,000 each. The bulk of his Robinson Foundation might be voided. amendments or codicils? All of estate went to the Robinson Foundation But if Ray Charles had good instrument, these bring into question the original for Hearing Disorders to help deaf properly executed and supplemented by a plans. One of the responsibilities children. The youngest child, Corey Video Tape, then chances are that the of financial advisors is to help Robinson den Bok, is challenging Foundation will inherit — just as he avoid challenges. his inheritance. planned. Œ

The National Institute of Certified Estate Arthur W. Rothfuss, CEP, CSA, RFC® Art is an Planners (NICEP) provides education and experienced estate planner, educator financial support to attorneys and financial consultants. advisor, and CEP “Planner of the Year” 2003. NICEP has both self-study and classroom His firm, Genesis Projects located in estate planning curriculums, granting the Indianapolis, serves clients in twenty-nine CEP designation. For programs and course states. Art is one of the five national directors information: www.NICEP.org 765 453 4300 of NICEP and may be contacted at: or e-mail: [email protected] 317 872 9574 or [email protected]

Page 8 The Register • December 2005 Researching Your Target Markets Online

your request (be patient, the process takes time if a large number of results are found). The resulting list will show matching organizations in alphabetical order. Click on the name of any group Go Ahead and listed and you’ll get a more detailed Impress Your Clients screen containing their name, street address, phone, and fax number. If the organization maintains a Web site, a link Client appreciation requires tangible to that site will also be provided. Click on actions that set you apart in the eyes of it to go directly to the site and begin clients as an individual who truly cares. digging into its content. And that’s Boxes by Pandora’s sole mission: To help you demonstrate client Here’s a suggestion: if you specialize in appreciation in a noteworthy and serving or networking with a particular affordable way! Kip Gregory type of business (accounting firms, automobile dealers, doctors’ offices, law From specialty document wallets and firms, schools, etc.), try searching by folders that will make your presentations Anyone whose responsibilities include category first (or type in the proper term memorable, to worry-free document sales, marketing or managing for your group in the name field) and see filing systems that will create natural relationships at some point has probably what comes up. cross-selling discussions — you’ll find turned to the Internet for insight on niches them all here! they target. But at over 8 billion pages of Alternatively, if you’re not sure what you’re content and growing, finding that looking for, begin the process by focusing Our specialized manufacturing and information on the Web isn’t always easy. on your state, or city and state (or production facility can personalize all of province for those in the Canadian our products with engraved brass Enter the American Society for Association market) to see what groups operate in nameplates, as well as your name and Executives’ Gateway to Associations, a your area (some international company logo. If you’d like your VIP clients freely accessible database which can help organizations are also listed by country). to think positively about the services you you quickly identify professional provide on almost a daily basis, then our organizations and trade groups that focus Next month I’ll cover step two in the custom-made, personally imprinted client on the markets you’re interested in. process: what to look for once you find a appreciation boxes — created from select site that looks promising and describe a woods — are for you! Their rich, functional The ASAE’s database includes nearly 12-point checklist for researching who to designs will have all your clients 40,000 organizations from local grass contact, where, when and how to find out showcasing them on desks, credenzas, roots to international in reach. If you’ve what they’re thinking, and how to get and display cases. been thinking about ways to raise your yourself on their radar screen. Œ visibility within a chosen group but don’t know which ones are in your area or how Kip Gregory is the author of Winning to contact them, chances are the Gateway Clients in a Wired World and one of the to Associations can tell you. country’s leading authorities on increasing sales productivity through smarter use of Here’s how to find out. First, visit the technology and the Internet. ASAE’s Directories home page at http://www.asaenet.org/ Kip will be a featured speaker at the AssociationSearch.cfm? Financial Advisors Forum in May, 2006. (be sure you include the complete web page address including the question mark To sign up for his free monthly e-mail in your browser’s Address field). newsletter, Kip’s Tips, visit his website:

Next, select the item labeled “Gateway to www.winningclients.com. Associations” and then click on “Go!” That will bring you to the Gateway search page. To learn more about his coaching and consulting services visit him at: Once on that Gateway page, you’ll have www.kipgregory.com or e-mail him at Boxes by Pandora has special pricing the option to search by an organization’s [email protected]. for IARFC members. For additional name, the category they are listed under, information, a full brochure or their city, state/province or even (© 2005 Kip Gregory, The Gregory Group. to order call: 800 232 6937 or country… or any combination of those All Rights Reserved. This material may visit: www.BoxesByPandora.com criteria. Make your selections and the site not be republished, copied or distributed will go to work finding groups to match in any form without prior permission.)

The Register • December 2005 Page 9 What Happens When You Are Sued?

During all this, have you been fully and the problem would go away, and they effective at running your business, serving proposed to split that cost with the advisor. your clients, supervising your staff and prospecting for new clients? Of course The advisor said, “Hell No, I’ve done not! You will be focused on getting the nothing wrong! We’ll fight it.” The E&O mess behind you. Your clients, your carrier’s attorney explained, “You’re going family, your friends and your employees to lose round one, which will be a jury will take a back seat while you juggle the matter in the small rural town where the emotional turmoil, hoping everyday that customer now resides. If you insist on no this problem will just go away. settlement, we’ll defend you. Then we will offer to pay the $8,000 that we could Naturally, (if you can get it and afford it) settle for now. You would be on your own you need to have professional Errors and in the appeal — which you’d probably win, Omissions (E&O) Insurance, but the because you have a very strong defense. purpose of that coverage is to defend you You will have to hire competent out-of- and pay losses. E&O insurance does not town appellate counsel and we’d guess Ed Morrow, CLU, ChFC, CEP, CFP®, RFC® help you avoid problems at the outset. those fees to run $60–$75,000. And E&O insurance policies also have many even still you might lose.” exclusions, some of which are not It doesn’t matter, initially, whether or not discovered by advisors until there’s a The advisor, very reluctantly, settled for you have done anything wrong. After all, problem, or until there is a claim. Then the the $8,000 out of pocket loss and the everyone runs a “clean business.” advisor’s interests can be pitted against black mark. However, the majority of claims filed the E&O carrier as well. What are the against financial professionals are exclusions? They vary with every policy, What advisors need is a Litigation groundless. You are facing about but frequently these clauses exclude Defense Manager. But where do you get $42,000 in costs to protect yourself. Your activity or advice related to alternative that? The solution is the eDefense broker/dealer and any life insurance investments, 1031 exchanges, some types Manager offered as part of the program company involved will probably be brought of fiduciary or consultancy services, of Financial Advisors Legal Association. It into the issue, since they are the “deep attacks from heirs and regulators. provides: pockets” people.  Proven procedures to avoid becoming Take Protective Action. What you should a legal target. The Attack. Will this be a regulatory seriously consider is to join Financial  Tips to prevail under a litigious attack. complaint, a case for arbitration, a lawsuit Advisors Legal Association. FA Legal is  A library of litigation-tested document or perhaps mediation? Possibly all four! designed to help you prepare your practice templates. Certainly your counsel (You do have an so you can aggressively combat the claims  Client management and practice attorney on retainer, don’t you?) and that made against you, at the outset. This type simplification processes. of your co-conspirators (that’s attorney of strong defense may help you avoid the  Up to 14 hours of CPE credits talk for your primary insurance company entire matter. The attorneys at FA Legal (CFP, PACE, RFC and insurance) with and broker/dealer) will prefer arbitration. frequently recommend mediation as the Real-time updates on critical issues. Why? Arbitration usually limits the loss first step, since it is a good way to test the payment, reduces the publicity and position of the opposing counsel and to To keep you and your staff focused on the reduces the costs. Usually. let them realize you are well documented types of issues that could be raised by and fully prepared to rigorously defend scurrilous attorneys; you need to be But arbitration often results in a your actions. reading about the tribulations of other compromise settlement — even if the persons. One source of information is The case is groundless. Your side will always Today, what you really need is litigation Litigious Times, which is published be pushed to pay up something, and the prevention and defense. Prevention, of quarterly by F.A. Legal exclusively for their former client and his or her avaricious course, is taking action to help you avoid members. attorney get something less than they these problems in the first case. One of initially requested. However, now you the problems with E&O Insurance carriers When you have the first inkling of a have a dark mark on your record, and one is that they frequently want to settle a problem you need instant representation that must be revealed to regulators, claim quickly and inexpensively. So they to support the actions you have been insurers and the public. This will most are very prone to offering a quick, small taking to protect yourself. likely harm you forever and force you to be settlement. That is good cost control for explaining this event for years. the carrier, but can be devastating to you. How does the benefit structure of FA Legal work? “If the advisors will practice Unfortunately, now you might discover that Let’s take a real case example. The the proactive and preventative behaviors your broker/dealer wants to distance itself customer claimed damages amounting to embodied in eDefense Manager, they will from you, and you are now shopping for a $24,000 actual losses, plus $250,000 for find most potential claims will be dismissed new b/d relationship, but with a tarnished distress and was alleging fraud — a before they become an emotional and record. The complications of a forced serious charge. By claiming fraud they financial nightmare,” comments Jerry broker/dealer change will only add further were able to get into a local court in a very Reiter, Chairman of FA Legal. stress to your life and consternation to favorable jurisdiction. The E&O carrier your clients. negotiated a compromise — pay $16,000 continued on page 11 Page 10 The Register • December 2005 continued from page 10 When You Are Sued

An Ounce of Prevention. The heart of eDefense Manager is good record keeping, and it has a prominent role in the defense process — not to help an advisor defend against a claim as much as to stop litigation dead in its tracks. FA Legal is an advocate of initial prompt mediation. “We want to mediate whenever a claim is brought against one of our members to let the opposition know we’re ready for them, know that we have our records (needed to refute the claim) in order. Since many of these claims are made on a contingency basis, when the attorney goes back to his client, the plaintiff, and tells him the advisor has strong documentation and the attorney now wants the plaintiff to pay him something up front, the plaintiff often drops the case. In the Old West, they used guns and bullets; we use Contact Us for a Free Web Demo attorneys and money.” 800 666 1656 • [email protected] www.FinancialSoftware.com How does the benefit structure of FA Legal work? The first step is to determine whether a claim is even covered by the Client Relationship Management Solutions for Financial Advisors advisor’s E&O carrier. Keep in mind that over half of all financial advisors have no easily leverages your abilities across a larger E&O coverage, and this topic might be client base with less demand on the time you need to spend one-on-one with excluded anyway. Then you need to make a your clients and prospects. Take your “Best Practices” and multiply them choice. Frequently, the manner in which the across targeted clients, prospects, and referrals. E&O carrier proposes to handle the situation will persuade an advisor to bypass the E&O As competition increases, as market conditions drive you to make changes for coverage and go with FA Legal’s aggressive more productivity, and as you desire mounts to work less for more reward… defense strategy. stands alone as the tool that will help you — easily and economically. FA Legal has a pro-active philosophy. Jerry Reiter, CEO, a respected industry We invite you to find out more about and impact leader explains, “We offer unlimited phone the Client Relationship Management can make in your practice. consultation as part of membership because we want to talk to the advisor when as soon as a problem is anticipated Senior Sales Manager not when a problem becomes certain. Whereas E&O insurance does nothing to educate the policyholder, we can mitigate a Client information may be transferred from Practice Builder Financial lot of issues by showing our members how directly into Plan Builder - EnterAct - to help produce the new client’s first to prepare for claims.” financial plan.

Where to go for information: To learn more New integration with Laser App software provides an easy to use, about Financial Advisors Legal Association, interactive form system for the independent financial advisor. Laser App you can review the benefits at: uses your broker, rep and client data to assist you in filling out the www.FALegal.com and to request more tedious and redundant fields in securities, insurance and annuity forms. information call: 800 261 0633 Œ Simply choose an application from the program’s menu and the form appears on your computer screen with your client, rep and broker information already inserted.

Whether you are already working or just getting started, we can provide the Ed is the Chairman and CEO of the planning techniques to contact your clients on a regular basis… IARFC. He specializes in enabling financial If your clients aren’t seeing you they are seeing somebody else. advisors to increase their sales production and client service, by building their practices through effective client relationship Financial Planning Consultants, Inc. management. For information on his 2507 N. Verity Pkwy. • P.O. Box 430 • Middletown, OH 45042-0430 services: [email protected] www.FinancialSoftware.com • 800 666 1656

The Register • December 2005 Page 11 CONSUMER FOCUS Paul Richard, RFC® www.ICFE.info Consumer Scams You and Your Clients Should Know About!

New “Jury Duty Scam” Seeks Personal Threats against the victim’s career, should rarely trigger a “warning flag.” Make sure Information By Direct Phone Contact. A he or she be arrested would now have a the credit cards in your wallet are all yours. new scam is underway, nationwide, to trick criminal record. Spouses are frightened Check the name on the card every time people into giving out their personal and a smooth-talking con artist will be very you sign for something and/or the card is information. It is known among military persuasive. taken away for even a short period of time. and civilian law enforcement as the “Jury Many people just take back the credit Duty Scam.” This “phishing” scam is being 5. Individual consumers, whether card without even looking at it, “assuming” utilized by credit and identity thieves to employed or not, and their adult family that it has to be theirs. It would be easy deceive victims into revealing their members must be made aware of this for an employee at a busy restaurant to personal information. threat to their personal information, credit just return a similar card, but with an and identities. Legitimate court employees invalid name. According to a Criminal Information would NEVER call to solicit personal Bulletin from the 31st Military Police information. Official notifications would Using cell phones to take pictures of your Detachment at Fort Campbell, KY., here is only be sent by standard mail delivery, or credit cards. A couple went to a local how the scam works: perhaps by certified mail, not phone. restaurant to pick up an order that had been called in. The customer paid by 1. The scammer calls a residence or office 6. Any person receiving such calls should using a Visa Check Card which, of course, phone number of the victim and identifies record the scammer’s phone number (if is linked directly to the holder’s checking themselves as an officer or employee of caller ID is available) and immediately account. The young man behind the the local court or jurisdiction. The thief report the contact to local law enforcement counter took the card, swiped it, then laid tells the victim that he or she has failed to authorities or the military police. it flat on the counter as he waited for the report for jury duty and that a bench approval, which is pretty standard warrant for their arrest has been issued New credit card fraud schemes to guard procedure. Then the clerk takes a picture against them. against everyday. Switch expired credit of the Card with a cell phone. cards for unexpired cards. This is another He set his phone on the counter, leaving it 2. The victim’s reaction is one of shock new scam technique. A man went to the open. About five seconds later, the couple and surprise and it places the victim at an local gym and placed his belongings in the heard the chime that tells that the picture immediate disadvantage, and much more locker. After the workout and a shower, he has been saved. Now, they are standing susceptible to the scam. The potential came out, saw the locker open, and there struggling with the fact that this clerk victim will rightly deny knowledge of any thought to himself, “Funny, I thought I just took a picture of their credit card. Yes, such claim; and that no such Jury Duty locked the locker.” After dressing he just the clerk played it off well, because had Notice was ever received. flipped the wallet open to make sure all the couple not had the same kind of was in order. Everything looked okay — all phone, they probably would never have 3. The scammer then shifts into “high gear” cards were in place. A few weeks later his known what had just happened. and reassures the victim of the possibility credit card bill came — a whopping bill of this is all “just a misunderstanding” or $14,000! He called the credit card Notice who is standing near you and what “some sort of clerical error” that can be company, saying that he did not make the they are doing when you use your card. Be straightened out on the phone. All the transactions. Customer care personnel aware of phones because many contain a victim needs to do is “verify” some of their verified that there was no mistake in the camera phone these days. information by answering a few simple system and asked if his card had been questions. (here comes the con…) stolen. When in a restaurant and the server brings your card and receipt for you to sign, make Any reluctance on the victim’s part and the “No,” he said, but then took out his wallet, sure you scratch the credit card number scammer threatens that failure to provide pulled out the credit card, and a switch off. Truncation — only displaying last this information will result in the execution had been made. An expired, yet similar, four numbers of a credit card number — of the arrest warrant. credit card from the same bank was in the is now law under the revised Fair Credit wallet. The thief had broken into his locker Reporting Act/Fair and Accurate Credit The scammer obtains the full Names, at the gym and switched cards. Transactions Act. Social Security Number, date of birth and will also solicit credit card or bank account Outcome of Dispute: The credit card However many numbers claiming these will be used by issuer said since he did not report the card establishments, the local credit bureau to “verify” the missing earlier, he would have to pay the especially victim’s identity. amount owed to them. How much did he restaurants, still have to pay for items he did not buy? put the whole credit 4. Family members who receive these $9,000! Why were there no calls made to card number on calls are especially vulnerable to coercion. verify the amount swiped? Small amounts a receipt. Œ

Institute of Consumer Financial Education619 239 1401 [email protected]

Page 12 The Register • December 2005 NO POSTAGE NECESSARY IF MAILED IN THE UNITED STATES BUSINESS REPLY MAIL FIRST-CLASS MAIL PERMIT NO. 395 MIDDLETOWN, OH POSTAGE WILL BE PAID BY ADDRESSEE

INTERNATIONAL ASSOCIATION OF REGISTERED FINANCIAL CONSULTANTS THE FINANCIAL PLANNING BLDG PO BOX 42506 MIDDLETOWN OH 45042-9981

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FINANCIAL ADVISORS LEGAL ASSOCIATION 7496 WEST LAKE MEAD BLVD STE 170 LAS VEGAS NV 89195-7194 Build Better Relationships & Communicate with Impact I am interested in the Practice Builder system to attract prospects and clients, build credibility and trust, connect to client priorities, help my clients commit to action by transforming their tasks and goals into powerful intention. I am interested in the Plan Builder system that develops vital comprehensive financial plans, while creating unlimited “what-if” scenarios, including Monte Carlo simulations, and plans with colorful charts and graphs, in real time. I am interested in Professional Sample Plans. Use to Close the engagement agreement by fulfilling the client’s need to see, touch and feel a sample of the product they are buying: Produced with the Builder Suite system.

Name______Firm ______Address ______City______State______Zip______E-mail ______Phone ______

Please Nominate Qualified Advisors for RFC®

Please send a complete Registered Financial Your Name ______Consultant application kit and reference Your Phone______material to the following financial advisors.

Name ______Name ______

Firm ______Firm ______

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City______State______Zip ______City______State______Zip ______

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Yes, I’m interested in learning more about Financial Advisors Legal Association, and how I can redeem $200 and receive the book: The #1 Thing You Need To Do as “told by the Financial Industry’s Top Coaches, Consultants & Industry Insiders” a $40 value! FREE!

Name ______Street ______City______State______Zip ______Phone______E-mail ______clip here

IARFC Financial Advisor Legal Association, Inc. 800.261.0633 / email: [email protected] / Fax: 208.730.9442 Valuable IARFC Member Benefits Information Request

Note Cards, 5” x 4” dark blue with gold RFC key on the cover, Ethics on the back, imprintable, with ivory envelopes.

Consumer brochure, 8.5” x 11” four page version, full color. Do you need a Professional Financial Advisor?

clip here Consumer brochure, 8.5” x 3.8” tri-panel version, color, for mailing. Do you need a Professional Financial Advisor?

RFC Ethics brochure, 8.5”: x 3.8” two-panel, two color brochure, dark blue and black on ivory stock.

Plastic brochure stands for use to display RFC® and other brochures in lobby display or at seminars.

Report Binders for Financial Plan, dark blue padded leatherette, with optional translucent Avery Tab Dividers.

Notepad, dark blue padded leatherette, to give to clients or prospects, includes standard 8.5” x 11” writing tablet.

Additional RFC Certificate Framed Unframed Large version Small version

Men’s gold Tie Chain with RFC Key key Ladies gold RFC key Circle Broach RFC gold Lapel Pin

Website for my firm, with compliance review features, text pages, calculators, quote forms, optional components.

Financial Insider — an 8 page, full color, bi-monthly newsletter for clients, prospects, and centers of influence.

The 20/20 Report — 4 page, full color newsletter, monthly or bi-monthly for clients, prospects, centers of influence.

Proposal Covers and Policy Wallets to class up your delivery of insurance policies and presentations.

Cherry wood Presentation Gift Box, 8” x 10” x 3.5” — with printed client note paper and envelopes.

Cherry wood Document Organizer box with hanging dividers and files. Cardboard Document Organizer box.

Deluxe padded 10” x 14” Report Presentation kit, lockable leatherette box with 3 rings and tab dividers inside.

Business Reply Mail Report, Word format for customization, to create postage-paid reply cards and envelopes.

Blue Presentation folders with gold IARFC logo, die cut for your business card and dual pockets for material insertion.

Gold Foil RFC seals, 1” round. Can be used to seal envelopes or dress up your proposals.

Gold Foil 1.5” seals “Financial Planning Quality Assurance” for placement on your client Financial Plans.

Code of Ethics Wall Plaque, 13” x 10.5” on walnut base, ideal for an office waiting area.

Journal of Personal Finance, quarterly academic and professional journal, extra copies for other advisors.

The Register, monthly IARFC magazine, additional subscriptions for your staff or associates.

Continuing Education Recording Form, 4 pages, with over 70 suggested topics and Instruction Method options.

Cruise Conference, Europe Caribbean Islands – Oct 8-15, 2006 Alaska – Sept. 12-19, 2007

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Building Your Multi-Million Dollar Practice — an intensive two day Workshop for experienced advisors. NO POSTAGE NECESSARY IF MAILED IN THE UNITED STATES BUSINESS REPLY MAIL FIRST-CLASS MAIL PERMIT NO. 395 MIDDLETOWN, OH POSTAGE WILL BE PAID BY ADDRESSEE

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If mailing, please fold this inside and seal with tape.

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Or Fax Both Sides to: 513 424 5752 Loren Dunton Memorial Award 2006 Nominations

This Award is made annually, in honor of espoused that salesmanship is taught by mail, e-mail or fax. Notice is provided to the founder of the financial planning the managers and trainers of the financial IARFC members and other financial profession, Loren Dunton, to a person who services industry, and that the ethical sale organizations, outlining the qualifications has made a substantial contribution to the of financial products and the delivery of required, prior to the convening of the financial services profession and/or the competent advice is a noble calling. Selection Committee. financial interests of the public. In 2000, at the Financial Advisors Forum in Dunton Award Criteria Generally regarded as the father of financial Dallas, the first annual Dunton award was planning, Dunton organized financial presented to Ben Baldwin. It has been • Must hold a professional designation professionals in the late sixties and with followed by presentations to those, who (such as ChFC, CFP®, CLU, RFC®, their help created the financial planning early embraced the financial planning CPA/PFS, CEBS, MSFS, MSFM or movement — including the formation of process, and have written, spoken and Doctoral degree). associations, magazines, colleges, university served widely in the financial community. • Must have been published on financial programs and foundations. Some persons In 2004 the Award was also made to a topics (articles, journals, books, etc.) believed then that “planning” was totally person outside of the U.S. • Must have provided outstanding service separate from the “sale” of insurance and or leadership in the financial services investment products, but Dunton always In commemoration of the founder of industry. recognized that they were but different roots financial planning, the International • Must have promoted or participated in of the common tree. Association of Registered Financial some aspect of financial education, Consultants will each year honor a either to the public or to members of the Dunton was able to use his experiences to professional who has made significant profession. frankly explain what all of us now contribution to the industry and the public, • Must have demonstrated effectiveness in recognize. Having been a successful presented at the Financial Advisors Forum. carrying the message of responsible businessman, but never a financial advisor, financial stewardship to the public. his comments were obviously from the Nominations responsive to the criteria must • Must have the highest ethical and heart. Dunton realized and publicly be made in writing and sent to IARFC by professional standards.

Dunton Award Award Nomination Form Prestigious Recipients Nominee’s Name: ______

Address: ______

______Jeffrey Chiew Ed Morrow 2005 2005 ______

Please comment on why this person is an appropriate candidate to receive the Loren Dunton Award:

______Liang Tien Lung Vernon Gwynne 2004 2004 ______

______

______(You may attach additional comments.) Alex Armstrong John Keeble 2003 2002 Your name:______

Phone: ______

Please fax your nomination to IARFC: Donald Haas Ben Baldwin 513 424 5752 2001 2000 IARFC • P.O. Box 42506 • Middletown, OH 45042-0506 www.IARFC.org

The Register • December 2005 Page 13 Cato Comments – About Your Image... Art Linkletter, American Icon, says “Your Image Enables You To Be Accepted Far More Quickly!”

Do you personally have a financial knew we would adhere to proper manners, Consultant, because he or she is asking planner or have you ever spoken to show good taste, be responsible, and clients for their trust — to believe that financial planners? produce programs that had class. My honest and excellent advice will be image assured them the Program would provided — all to serve the best interest of Yes, I have a long-time relationship with a make them proud of their participation. the clients. financial planner. I have spoken often before insurance and financial planning How long were you on Do the many recent financial scandals groups. And I have great respect for all national television? harm the image of the RFC? Registered Financial Consultants. We were on CBS-TV five days a week for 26 In this era where corruption, immorality, Has your image been important for your years. I interviewed 27,000 youngsters. incompetence and plain thievery has outstanding success? This was the basis for the book and singed our national landscape, the subsequent TV series called Kids Say the obligation of any Registered Financial Image can enable you to be accepted. Not Darndest Things. People Are Funny ran on Consultant is to be above criticism, above only that., the right image enables you to night-time NBC-TV and radio for 19, years. reproach, and adhere to the high IARFC be accepted more quickly. The correct These were two of the longest running Code of Ethics that is particularly well established image enables you to save programs in broadcast history. drafted. The RFC professionals should not time and not have to work so long and so be tarnished by these many improper acts hard to finally be understood and accepted. Have you always made efforts to create, since the RFC professionals are not My image has been the key to my success. establish, and maintain your desired responsible for, or even involved in any of Image is likely to be a big part of any image within target markets? this. The RFC professionals are also RFC’s success. As a salesman for many victims of these scandals. national companies, I have asked the I struggled as a performer until I public to accept my personal guarantee learned the importance of doing just this. Regulators are now unfairly hammering that a product they have never used before I was largely unknown until I established independent financial advisors in is good, reliable and worth trying. my image. My image enabled me to response to the abuses by giant financial gain the share-of-mind that leads to organizations. Can image enhancement What were those products? share-of-market. help the RFC®?

Well Wally, these include the first ever This works the same way for financial Image can help regarding anything. electric blanket for GE; the first home professionals. You will notice that the Imagine is not everything. Image is permanent for Toni; the first non-ink pen more successful the financial advisor the possibly the first thing on your way to for Papermate; the first cake mix for more established his or her image will be. great success. I use the word ‘image’ as Pillsbury; the first diet cola for RC; and the the true representation of a RFC’s first mail order auto insurance to be sold to My image, not my recognition as a character based on reputation and record. non-drinkers. performer, helped me to be appointed Out here in Hollywood, images are ‘spun’ Ambassador to Australia by President by media advocates who often conceal the How did your image help your career? Reagan. My image helped me to be true nature of the celebrity. There’s an old appointed to the first Drug Abuse cynical joke, ‘The key to success is having a My image was the reason that I could Education Committee by President Nixon. good image. Once you can fake that, you persuade the Los Angeles School Board to My image opened the doors to another have got it made.’ permit me to be the only commercial successful career lecturing across our broadcaster to take children out of school country on sales and success attainment. I have enjoyed reading The IARFC Register, during their daytime lessons. We did this and applaud what the Association is so they could appear on my TV show. The How important is image for the RFC? accomplishing — for its members and for school board knew that I would not exploit the consumers they serve. You are making the children and that the cause of I consider image to be equally important to a difference. Thank you for this opportunity education would be enhanced. They also the average Registered Financial to talk with readers of The Register. Œ

Forrest Wallace Cato, RFC®, (pictured here after recent eye surgery) has over 20-years experience as a local, regional and multi-national media strategist and advocate serving financial professionals. For financial advisors, he creates, establishes, and maintains, desired images within target markets. This highly proven marketing communications effort leads to increased understanding (brought about by desired media exposures) and results in increased consumer acceptance for the financial product or service provider! Annually he presents The Cato Award for “published writing that promotes greater understanding for and appreciation of financial planning,” during the IARFC Financial Advisors Forum. Cato, former editor of Financial Planning and Trusts & Estates magazines, is author of the book Sales And Success Secrets of The Great Motivators. Cato also wrote the Introduction to the book Financial Planning As I Created It by Loren Dunton, the founder of financial planning. Cato can be reached at: Intergroup II/Atlanta, Inc., 915 River Rock Drive, Suite 101, Woodstock, GA 30188. Phone: 770 516 9395 E-mail: [email protected]

Page 14 The Register • December 2005 Seven Communication Strategies for Doubling Your Sales in Half the Time

you identify how much time is Teresa is the creator of The Power to required, first determine how Connect® workshop, author of the book, A important this communication is. Is Guide to Breakthrough Presentations, co- this a six figure deal that you have one author of the book The Power to Connect® shot at making a great impression? Is — Creating Communication that gets it a conversation with a valued Results and co-creator of the Bravo employee who has made an error that Presentation Coaching® program. She needs correcting? The amount of time has helped groom many successful you’ll need varies for each individual professionals to extend their speaking and each situation — it may be capacity and has personally addressed 5 minutes to review the points you many associations, including the MDRT want to cover in a meeting or several and CAIFA. You may learn more about hours rehearsing out loud, in the case their services at: www.cvcomm.com, and of a presentation. you can contact her at: 416 696 2020 or by e-mail: [email protected] 2. Put it in your calendar with a start and Teresa Easler end time. The greatest challenge will be making sure life’s emergencies don’t side track your intentions. If you The ability to get great results when have an assistant, get their support in communicating with your clients, keeping to the schedule or enroll a Call for Papers prospects, and staff requires that: colleague to collaborate. It is always easier to keep to a plan when you • You have the right message for your have others to answer to. audience. • Your message addresses what’s 3. Complete a Power to Connect Reviews, and practitioner important to them. Worksheet. It provides you with a insights on the assessment and • You deliver the message in a powerful, simple framework that guides you in measurement of financial risk tolerance for a special issue effective manner. your preparation so you achieve your desired results. Always determine a Over the next several months, we’ll be clear and focused objective, no more introducing IARFC to seven simple than three key messages you want to communication strategies designed to get across, and what action you want IARFC Quarterly Educational Publication help you and your organization always your audience to take at the end of confidently communicate the right the communication. John Grable, Ph.D., Editor message to the right audience at the 318 Justin Hall, FSHS right time. 4. Say it out loud. Words sound different Kansas State University when they are spoken than when they Manhattan, KS 66506 Strategy #1: Always take the time are drifting around in your head. By Phone: 785 532 1486 to prepare for your communication verbalizing your communication, you E-mail: [email protected] situation. will be able to detect places where the tone is contrary to your intentions, like Imagine Abraham Lincoln delivering the boredom, condescension, self doubt. Get Involved: We welcome the Gettysburg Address without thinking it Then you can easily make the submission of articles from IARFC through in advance? Or, John F. Kennedy necessary adjustments. practitioners. This is a great way to not rehearsing his inaugural address? The contribute to the profession. need to prepare for communication is not However much time you dedicate to news. However, so many advisors go into preparation, it will be time well spent. It Professional Articles: The Journal situations where the stakes are high with allows you to be present and being is seeking articles by practitioners little or no preparation that it requires present provides a greater opportunity to that may deal with the application mention. Let me be blunt. Regardless of connect and build relationship with your of financial planning techniques, whether you’re an individual planning for client/prospect/audience. Ultimately, marketing and practice management. a meeting, or a professional getting ready that’s what real communication is These are expected to be very high to speak to a large group, never go into a all about. Œ level papers or articles. communication situation without taking time to focus and prepare. Publicity Opportunities: Naturally, we Teresa Easler is a partner in Corporate encourage published authors to advise How to Prepare Vision, an organization that supports both their clients and the media of people who have achieved a high level of their being published by sending a 1. Schedule time. This is an important success and understand that achieving press release. first step because it is so easy to get more requires superb communication and caught up in day to day demands. As presentation skills. The Register • December 2005 Page 15 New Source of Qualified Prospects

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Financial Advisors Forum brings together financial advisors from around the world for three action-packed days of sharing information, building knowledge, professional exchange and networking with the leaders of financial services.

IARFC’s annual conference and exposition features educational programs for all levels of experience. Expositions that showcase the latest financial services and products, and fun activities where you can meet other professionals. You will gain new business ideas, make contacts, see prospective resource providers, learn new planning design techniques and explore ways to promote your business. If you’re seeking to build your financial advisor practice, the knowledge can be found at the Financial Advisors Forum.

Who Should Attend?

Financial planning professionals with all levels of experience in every area of specialty will find that these practical educational sessions will exceed their expectations. Industry leaders will deliver their most valuable concepts and techniques in a collegial atmosphere. Whether you are a single practitioner, head up a firm of advisors, or are an executive of a broker/dealer, insurance company, bank, or a financial product provider, you will find these ideas, contacts and leadership skills to be invaluable.

Program Schedule

The Forum 2006 opens Thursday, May 11 with six optional pre-conference workshops at 8:30 am. All attendees will enjoy the Thursday opening night reception to be held in the home of IARFC Chairman, Ed Morrow. Whether you are a first time or international attendee, plan to attend the Loren Dunton Award Dinner on Friday evening. The Forum concludes Saturday, May 13, at noon. Activities are planned during the afternoon for those who fly out Sunday.

Other Financial Forum Highlights

Join us Friday evening for the Annual Loren Dunton Award Dinner — an opportunity for financial advisor professionals to network and honor Loren Dunton and congratulate the prior recipients, and of course, the distinguished 2006 recipient of the Award — whomever it may be.

As a renowned figure and pioneer in the industry, Dunton is widely recognized as the father of the financial planning movement in the United States. He started the College for Financial Planning and the International Association of Financial Planning, was the first editor and publisher of Financial Planning magazine, and his precepts on the role of advisors are the basis for the IARFC.

2006 attendance is limited to the first 200 who register. Call Now! And reserve your position: 800 532 9060

Page 18 The Register • December 2005 IARFC Financial Advisors Forum 2006 Schedule of Events

Thursday Morning - - - Thursday, May 11 - - - Six Power Workshops Registration Desk Open 8:00 - 5:00 Six Financial Planning Workshops 8:30 - 11:30 Session A: 8:30 - 9:20 ♦ Client Relationship Management Exhibition and Buffet Luncheon 11:00 - 1:00 ♦ Long-Term Care Choices Opening Ceremony 1:00 - 1:20 Charlie “Tremendous” Jones 1:20 - 2:10 Session B: 9:35 - 10:25 Jim McCarty 2:10 - 3:00 ♦ Financial Plan — Design & Delivery Refreshment Break 3:00 - 3:20 ♦ Clergy Planning & Marketing (RCA) Lew Nason 3:20 - 4:10 Session C: 10:40 - 11:30 Jerry Tan 4:10 - 5:00 ♦ Legacy-Based Marketing Exhibition Area 5:00 - 6:45 ♦ Powerful Tie-Downs & Closings Reception at the Morrow Home 7:00 - 10:00

- - - Friday, May 12 - - - World Famous Continental Breakfast in the Exhibition Area 7:00 - 8:00 Featured Speakers Les Anderson 8:00 - 8:50 Michael Zmistowski 8:50 - 9:40 Charlie “Tremendous” Jones Refreshment Break 9:40 - 10:00 America’s No. 1 Motivational Speaker (as rated by National Speakers Association) Michael Zmistowski 10:00 - 10:50 Norman Levine 10:50 - 11:40 Mehdi Fakharzadeh Lunch in the Exhibition Area 11:40 - 1:20 The Legendary and Beloved Veteran Kip Gregory 1:20 - 2:10 MetLife Agent and Financial Advisor Robin Mills 2:10 - 3:00 Norman Levine Refreshment Break 2:30 - 3:20 The World Famous Agent & Manager Peter Vessenes 3:20 - 4:10 Who Built a Financial Services Giant Rev. Dr. John Clements 4:10 - 5:00 Reception in the Exhibition Area 5:00 - 6:30 Rev. Dr. John Clements Britain’s Celebrated Motivational and The Loren Dunton Award Dinner 7:00 - 10:00 Acclaimed “Right-Thinking” Specialist - - - Saturday, May 13 - - - Continental Breakfast 7:00 - 8:00 George Flack 8:00 - 8:50 James Lange 8:50 - 9:40 Refreshment Break 9:40 - 10:00 Hal Chorney 10:00 - 10:50 Mehdi Fakharzadeh 10:50 - 11:40 Box Lunch Pickup 11:40 - 11:45 Ed Morrow 11:45 - 12:30 Option #1: U.S. Air Force Museum 1:00 - 6:00 Option #2: Dayton Art Institute 1:00 - 6:00

The Register • December 2005 Page 19 Charlie “Tremendous” Jones, CLU, RFC® IARFC Financial Advisors Forum 2006 Life is Tremendous! The things that matter the most in your life never change. Learn how to focus now on the essential — from Jerry Tan, LLIF, CIAM, CMFA, RFC® the Master of Motivation, the author Breakthrough Strategies of seven best selling books and the to Assure Your Success founder of the Leadership Library. As the leading coach, motivator, manager and His principles of the Seven Laws of producer in Singapore, who lectures and trains Leadership have mesmerized agents and financial advisors throughout Asia, audiences worldwide: Jerry will share the techniques that have helped  Put Excitement in your Work propel him and his associates to Top of the  Use It or Lose It Table production as qualified financial advisors.  Production to Perfection  Give to Get  Exposure to Experience  Flexible Planning  Motivated to Motivation Les Anderson, MBA, RFC® Make Sure You Are The Product When you are selling the same products at the Jim McCarty, CLU, RHU, LUTCF, RFC® same prices as everyone else, how do differentiate yourself from your competition? The Day Mañana Came Learn from the author of The Product is You his As a national sales trainer and educator for proven process to market yourself, rather than Ameriprise (American Express) and a Director of sell a product, thereby shifting the client’s the LUTC, Jim has enlightened, amazed and emphasis from product to personality. entranced his audiences. From his personal and professional experiences he will help you communicate a strong sense of urgency to your clients. Michael Zmistowski, RFC® Retirement Income Management Techniques & Retirement Income Case Studies Lew Nason, LUTCF, RFC® Dramatically increase your “hard dollar” income by Asking the Right Questions getting the “soft facts” from the client. Smart Retirement Income planning will determine which Using proven questioning techniques gets services and products will be most appropriate to your prospect or client emotionally involved meet client goals. Learn to demonstrate techniques and helps you secure 9 of 10 appointments. to maximize retirement income — and to create Adapting the right questions will also achieve certainty your clients will never run out of money. a 9 out of 10 closing ratio for getting your clients to accept your planning and product recommendations. Kip Gregory Strategies for Growing Your Business Faster with Technology Norman G. Levine, CLU, ChFC, CSA, RFC® Let the author of Winning Clients in a Wired World, Leadership is show you how to harness the technology you own Never an Accident to increase your efficiency and effectiveness. Kip will share simple, easy-to-master strategies you can A great leader talks about how he implement immediately to reach upscale prospects used transferable principles of and clients and enhance the services you deliver. leadership to build two diversified financial service firms, in New York City and the other with 11 offices from Fairbanks to Southern California. Past national president of Robin Mills NAIFA, GAMA, LUTC and recipient of Why Are You More Likely to be Sued the John Newton Russell award, Than Your Physician? Norm has been both a TOT producer, Financial advisors are now a better target than a GAMA Master Agency builder doctors for predatory lawyers. How can you identify and 10 time MDRT speaker. His your exposures and modify your operations to be Non-Interview technique and Joint better protected, better prepared and live with a Work philosophy are timeless greater peace of mind? If you’re not managing your strategies that will work effectively defense now, you may have major problems later! for you and your associates. Page 20 The Register • December 2005 Rev. Dr. John Clements, Th.D., FCIPD, FInstSMM, RFC® Featured Speakers Fruitful Prospects – Ripe for Picking England’s most renowned inspirational presenter and life coach will explore your Peter Vessenes, RFC® “Appletunities.” With his best-selling book Fruitful Prospects he excites and How You Business Plan Defines Your Market enlightens audiences worldwide with Your most desired and suitable clients should how to uncover the opportunities that be defined by your Business Plan and your already exist. John is a popular BBC-TV Vision. Learn from the co-author of Building personality and in high demand as a Your Million-Dollar Practice why and how to speaker and as a Lifewise Coach. restructure your marketing strategies, You will explore how to make your differentiate your practice effectively and most desired alternate universe a attract many more class “A” prospects. reality. You will learn why financial advisors are “Excellence-Seekers” who only need a slight redirection now in order to achieve major business and personal results and enjoy a ® ® George Flack, FPNA, AFAIM, CFP , RFC heightened “Sweet Taste of Success.” An Improved Client Service Model Learn how to generate an increasing and recurring income from planning and asset Forrest Wallace Cato, RFMA, CRR, RFC® management fees by expanding and segregating Presentation of the Cato Awards your operations. George has achieved impressive results by offering his clients a The legendary media advocate, popular choice of three ongoing professional service financial writer, and early editor of models: standard, tailored and platinum. Financial Planning magazine will present the Cato Award for Distinguished Financial Journalism to two recipients whose literary efforts are a major contribution to the financial services profession. James Lange, J.D., CPA, RFC® Unique Beneficiary and Distribution Options Techniques for maximizing retirement and estate values from the author of a new book entitled, Burnett Marus, RFC® Retire Secure. Learn to use the Lange’s Master of Ceremonies Cascading Beneficiary PlanTM, an important As the IARFC board member with the planning concept that has been featured in the greatest tenure of service, Barney is well Wall Street Journal, Kiplingers and the Journal of positioned to introduce the Speakers and Retirement Planning. Forum events. He is teamed in this task with George Flack, who will help us put into perspective what we have just learned. You’ll enjoy this dynamic duo! Hal Chorney How Can You Stay Out of Prison? Your clients entrust you with their private Mehdi Fakharzadeh, RFC® personal and family information as well as with all of their financial assets. When A Rich Life is a Life of Service government agencies request this confidential material how do you respect the privacy rights As an immigrant student from of your clients — and avoid being imprisoned Iran, Mehdi had been acquiring as Hal was? degrees, but no income. Suddenly faced with a baby on the way and the loss of Sigrun’s earnings, Mehdi faced real adversity! Starting on a MetLife debit on Ed Morrow, CLU, ChFC, CEP, CFP®, RFC® 47th Street in New York City, The Future of the Advisory Profession collecting dimes and nickels, he The financial planning profession has elevated his sights to become the undergone three phases — the giant plan; all-time sales leader for MetLife. fee-based portfolio management; distributions From “premium collector” he planning. Ed will talk about the next phase: advanced to “problem solver” finally serving the mass of the market through and from agent to financial advisor. smaller fee-based plans delivered within a more For the man who started at the efficient consumer-oriented structure. bottom, Nothing is Impossible in his lifetime of service. The Register • December 2005 Page 21 IARFC Financial Advisors Forum 2006 Power Workshops

Client Relationship Management Long Term Care Choices Mark J. Terrett, RFC® Wilma G. Anderson, RIA, RFC® To maintain frequent professional contact with your What is the best way to cover your client’s need for Long clients and prospects takes a system that can be Term Care, based on age, income, health history, employ- easily administered. Learn how CRM will turn ment, financial assets, existing employee benefits, prospects into clients and clients into raving fans. annuities and insurance? Presented by the LTC Coach.

Financial Plan — Design & Delivery Legacy-Based Marketing Opportunities David M. Stitt, CLU, ChFC, CFP®, CEP, RFC® Brian S. Nelson, CLU, MBA, RFC® Learn how to use your Sample Financial Plan to Your best high net worth prospects are strongly close fee-based engagements by offering a formal motivated to passing on their legacy of values in addition satisfaction guarantee — and by delivering a truly to their wealth. Learn how to meet and serve these superior comprehensive plan for implementation. people — and acquire new up-scale client relationships.

Clergy Planning & Marketing (RCA) Powerful Tie-Downs & Closing Techniques John E. Harris, CFP®, CSA, RFC®, RCA® Bill J. Nelson, LUTCF, CEP, RFC® The clergy need special counsel for which you need The Master of Closing will demonstrate how he and unique planning tools. The new Registered Clergy his associates have shifted millions of client dollars Advisor program will escort you to these persons, and by emphasizing the clients’ need for a unique then to the leaders of their institutions. distribution-based financial advisory approach.

Dunton Award Forum Attendee Demographics Prestigious Recipients Employment Affiliation Professional Designations Financial Advisory Firm ...... 57% 6 or more designations ...... 3% Life Insurance Agency ...... 18% 5 designations ...... 18% Multi-line Insurance Agency...... 6% 4 designations ...... 26% Broker/Dealer ...... 9% 3 designations ...... 23% Producer Group...... 5% 2 designations ...... 18% Jeffrey Chiew Ed Morrow Bank or Credit Union ...... 4% 1 designation...... 12% Charitable Organization...... 1% Special Study Course ...... 28% 2005 2005 Organizational Memberships Industry Service FPA...... 26% Current Instructor ...... 3% NAIFA ...... 21% Prior Instructor ...... 31% SFSP ...... 19% Regular Article Writer...... 6% MDRT...... 15% Book Author...... 7% Liang Tien Lung Vernon Gwynne AICPA...... 8% Radio/TV, current...... 2% 2004 2004 Bar Association ...... 3% Radio/TV, prior...... 8% NICEP...... 7% Association President...... 19% NAPFA ...... 1% Association Officer ...... 82%

Investment Advisor Status Licenses Held Independent RIA ...... 16% Life Insurance ...... 94% RIA Affiliate ...... 51% Health Insurance ...... 88% Alex Armstrong John Keeble No RIA capability...... 15% Securities ...... 93% 2003 2002 Not Applicable...... 14% Mortgage Broker...... 16% Trustee Status ...... 4% Real Estate Broker...... 4%

Primary Income Source Educational Achievements Fees and Commissions...... 62% PhD, DBA ...... 4% Commissions Only ...... 17% JD ...... 3% Salary and Commissions...... 7% LLM ...... 2% Donald Haas Ben Baldwin Salary and Bonus...... 5% MBA...... 7% 2001 2000 Salary Only ...... 3% MSF/MSFS ...... 8% Fees Only (to firm)...... 4% BS/BA...... 88% Undisclosed...... 2% AB...... 8%

Page 22 The Register • December 2005 IARFC Financial Advisors Forum 2006 Registration Form

Manchester Inn and Conference Center, Middletown Ohio ♦ May 11 - 13, 2006

♦ Registrant Information (please only one attendee per form) ♦ Method of Payment

Name ______T Check (Please make payable to: IARFC)

First Name on Badge ______T MasterCard T Visa T Amex T Discover

Title ______Card Number ______

Designations ______Exp. Date ______

Company ______Account Address (if different from above) ______

Address ______

City______State______Zip ______Signature ______

Phone______Fax ______Date ______Fax Registration to: 513 424 5752

E-mail ______♦ Hotel Accommodations

Receive special room rates by calling the Manchester ♦ Registrant Investment Non- IARFC and using our group code: IARF Member Member T Very Early Bird, Before 12/31/05 $345 $295 Manchester Inn – 800 523 9126

T Early Bird, Before 2/28/06 $395 $345 Reserve your room for only $64 or $74 per night. T Regular Rate, after 3/1/2006 $495 $445 You may extend your stay to enjoy the same low rate for additional days. No online reservations are available T Spouse/Companion Rate $125 $125 for this event. T Financial Planning Student Rate $ 95 $ 95 T Golf Outing, Wednesday afternoon $ 40 $ 40 ♦ Additional Conference Information T Air Force Museum – no charge Registration Location: Second floor at the Manchester T SunWatch Indian Village and Dayton Inn and Conference Center. Art Institute, Princess Diana Exhibit $ 30 $ 30 Continuing Education Credits: Each state has different insurance and securities CE regulations. This event has not been pre-registered for CE. Varying credits will be available ♦ Save on your tuition with “Sign-Up-A-Colleague” for IARFC, CFP, PACE, and state credits, depending on sessions attended. Receive a $50 discount for one nominee who signs up for Recommended Attire: Business casual is appropriate. For the Financial Advisors Forum. I hereby nominate: your comfort, we encourage long sleeves or a light sweater as inside temperatures can occasionally fluctuate. No Name ______jeans, tennis shoes or T-shirts please A jacket is optional, but recommended, for the Dunton Award Dinner held on Phone______Friday evening. Cancellation: A refund (less 20% administration fee) will be How to Register Now! made if notice of cancellation is received in writing three weeks before the event. We regret that no refunds can be Fax: 513 424 5752 given after this period. A substitute delegate is always E-mail: [email protected] welcome at no extra charge. Call: 800 532 9060 Disclaimer: The program may change due to unforeseen Mail: P.O. Box 42506 circumstances, and IARFC reserves the right to alter the Middletown, OH 45042-0506 venue and/or speakers. IARFC accepts no responsibility for any loss or damage to property belonging to, nor for any Website: www.IARFC.org personal injury incurred by attendees at our conferences, within the conference venue.

The Register • December 2005 Page 23 phone fax email web 800 532 9060 513 424 5752 [email protected] www.IARFC.org

RFC Graduation Ceremony in Kuala Lumpur

The first formal graduating ceremony of Registered Financial Consultants in Malaysia is pictured above. In the center left, with gold edges on their gowns are Dr. Michael Cheong, RFC®, and Ralph Liew, RFC®, followed by IARFC Chairman Ed Morrow, RFC®, whose robe is edged in red. Next to him is Dr. Jeffrey Chiew, RFC®, the Asia Chair for the IARFC, whose robe is edged in green. Next to Jeffrey are Ms. Heng Lin Meng, RFC®, Organizing Committee, Benjamin Kan, RFC®, the IARFC Malaysia Vice Chairman and Ng Jyi Vei, RFC®, the IARFC Malaysia Chairman.

the

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