Future of Financial Services
What does FMO stand for?
Answer: Financial Marketing Organization
How many major problems do we solve?
Answer: Three.
What are the three ways money grows?
Answer: Fixed, Variable, and Index.
What does C-O-P stand for in Edification?
Answer: Company, Office, Personal.
What is the minimum passing score required to obtain an insurance license?
Answer: 70%.
Name two Fortune 500 companies mentioned in the presentation that we represent.
Answer: National Life Group, AIG, Allianz (any two)
Name all three problems we solve.
Answer: Distribution of financial services, financial literacy, and entrepreneurship.
Which type of account has a floor of 0% and a cap on gains?
Answer: Index account.
What are the three sets of eyes we ask clients to look through during field training?
Answer: Ask questions, referrals for products, referrals for business opportunity.
How much is the one-time enrollment fee?
Answer: $199.
According to the presentation, people tend to buy from people who ________, ________, and ________ them.
Answer: Look like them, act like them, and talk like them.
Why do financial companies pay agents well for distribution?
Answer: Because agents have access to markets and communities the companies want to reach.
DOUBLE POINTS
Question:
A client has $50 remaining after a 50% market loss. The market then gains 50%. How much do they have?
Answer: $75
DOUBLE POINTS
Question:
What tax code is referenced throughout the presentation when discussing the tax advantages of life insurance?
Answer: Tax Code 7702
How often does the company pay agents?
Answer: Eight times per month (every Wednesday and Friday).
According to the presentation, what is the average age, race, and gender of the typical insurance agent today?
Answer: A 61 year old white male.
DOUBLE POINTS
Which of the three problems we solve helps companies reach markets they traditionally struggle to access?
Answer: Distribution of Financial Services.
What are the five guarantees used to evaluate each home of money?
Answer: Liquidity, Safety of Principal, Tax Deductible, Tax Advantage, and Growth.
What does FORM stand for when building rapport?
Answer: Family, Occupation, Recreation, Motivation.
What are the three guarantees we provide to a new recruit?
Answer: Learn about money, become licensed, and grow as a person.
Who are the five groups identified as being underserved by the traditional financial services industry?
Answer: Millennials, Gen Xers, Gen Z, minorities, and women.
A 25-year-old wants more freedom, wants to work remotely, and doesn't want to work 40 years to retire on 40% of their income. Which of the three problems we solve is most relevant to them?
Answer: Entrepreneurship.
Which home of money scored the highest and how many guarantees did it receive?
Answer: Life Insurance, 4 out of 5 guarantees.
What is the purpose of edification?
Answer: To build credibility, rapport, respect, and authority before the presentation.
What are the minimum requirements to become a Certified Field Trainer?
Answer: Must be a Field Associate, have 10,000 personal submitted points, and 10 personal applications submitted.