The Danger Zone
Manage This
Mix it up
Bank Me
Walking Talking 529s
Show me the $$$
Final Jeopardy
100
What is the most recent inflation rate?
What is 3.2
100
True or False
Program minimums can be reached by aggregating across accounts enrolled in both MGIA and MESP programs?
True
100
True or False:
MESP and MGIA campaigns must be closed out on the very last day of the month.
FALSE!
Friends don't let friends wait 'til the last day. Be a pal and close your campaigns on time.
100
What are a FCM and Senior Banker and ADPRMS paid for a quality referral to a FSA?
Senior Banker/RB/ADPRMs- $30
FCM-$50
CSAII - $50
BSA - $30
100
True or False
529 plans are now able to be opened on the MGIA platform through collaborate?
What is false
100
A deposit is made on Monday. What is the last day that I can have a quality convo, trigger it for the center, and create an opportunity?
Friday of that week.
100
Please provide your response to this common client question:
Tell me, why should I invest with you over the competition?
Well done!!
200
True or False?
On average, every year, we see a market decline of 10% at least once and the average length of that correction is around 110 days?
True!
5% - 3x with a length of 43
15% - Once every 3 years and 262 days
20% About once every 6 years and 401 days.
200
What is the minimum for ETF Core Sustainable Strategy
$1000. Same for ETF Core.
Note: $20,000 household min still applies.
200
Preferred High Potential (14.9M clients) have less than $20k in on-us assets but have $X.XX in assumed opportunity assets (on + off us).
What is the $X.XX?
What is $100,000!
Recognize and grow!
200
True or False?
Once a referral is marked non quality, the FSA can go back at any point during the referral window and update the status to quality awarding the referring associate credit.
FALSE
200
For 2024, what is maximum annual contribution allowed before triggering federal gift taxes or exhausting your lifetime estate or gift exemption?
$18,000 ($36,000 for married couples electing to split gifts).
200
What are Senior Bankers paid, per $1000, in deposit balance growth revenue.
$12 per $1000
300
What was the S&P500's Return for 2023?
Give or Take 2%
26.3%
300
What are the three factors considered in GBAA?
What is Time Horizon, Confidence Level, and Goal Target
300
Clients opening what are eligible to enroll in Preferred Rewards without waiting to meet the three month combined average daily balance requirement?
What is their first new eligible consumer checking
* Clients who have not had a BOA/Merrill checking open/active for 12 months will still qualify.
300
What is the expected time frame a referral from your partners should be contacted and dispositioned by FSA?
What is Within 24 hours.
300
True or False- A 529 plan is treated more favorably in the federal financial aid formula than savings in a child's name through a custodial account, such as a UTMA/UGMA
What is True
300
A client comes into the FC and opens a $500,000 estate account with a Senior Banker. Of the $500,000, how much goes to the RMs scorecard?
ZERO!!
400
What is the most recent 30-year fixed average MTG rate?
Give or take 0.5%
6.75
BOA
400
What are the eligible account types under MGIA (hint: 6)
What are CMA (single, joint and custodial), IRA, Roth IRA, SEP IRA, Simple IRA, Trust
400
These five metrics make up our Balanced Performance Metrics and directly influence FSA Ranking.
What is Quality Products, Balance Growth, Partner Referrals, Client Care, Risk Management.
400
Two Part Question:
What is the Cap for Consumer Balance Growth AND What is the Cap for Small Business Balance Growth for the FC per Party ID per tracking period?
Consumer- $250,000
SB- $1,000,000
400
What is the minimum balance a 529 account must have to receive Quality Solution credit?
What is $100
Note: must meet $100 within first 180 days of account opening.
400
As of 2024, if a client has $9,000,000 New Money 8 week tracking and FSA and puts $3,000,000 in a Bank CD, $3,000,000 in a Self Directed CMA, and $3,000,000 with GWIM referral; how much Balance Growth will the advisor track?
$9,000,000
Overall Balance Growth is capped at $3,000,000 per channel (Advised, Self Directed and Bank) per PID for the 8-week tracking period
500
In Our Most Recent CIO Report, What two sectors in Equities does CIO favor Overweight?
Energy and Healthcare
500
What are the three Confidence Levels and their corresponding likelihoods?
What is Low (55% likelihood), Medium (75% likelihood), and high (95% likelihood)
500
Two Part Question:
1)This solution provides clients a cost-effective way to meet a variety of short- and long-term personal and/or business financing needs, including: Personal Investment, Real Estate Purchases, Tax Payments, Education Costs, Debt Consol and Business Startup, expansion or acquisition. 2) How much Flat-Value does this provide?
What is LMA- Loan Management Account
and What is $250k
500
True or false?
A client comes into the FC and is referred by a RB1 to the FSA. The FSA marks the referral quality but no business is completed. 181 days later, the client comes back in and is, again, referred to the FSA by a RB2, who marks the referral quality and completes a MGIA.
RB1 & RB2 will both get quality referral credit.
FALSE
Quality referral credit is awarded once per 12 months (365 days). Duplicate referrals will not result in additional incentive and are determined by party ID.If a customer (party ID) is referred more than 1 time within 12 months (365 days) the employee with the first quality referral will get the credit.
500
Your straight-A student or basketball star gives you an unexpected gift by earning a "full ride" or substantial scholarship toward college. How much can you withdrawal without incurring the 10% additional fed tax?
What is an amount equal to the scholarship from the 529 plan can be withdrawn?
500
If a FSA refers to GWIM partner, when must the GWIM advisor open a quality funded account by?
What is 365 days.
Note: if GWIM opens an account and doesnt fund it with at least $50 within 180 days, FSA will not receive Balance Growth.
Note: Only New Accounts in the HH with an open date AFTER the Quality Referral are in included in Balance Growth Measurement
600
How would you explain the image below?
What is holding stocks over a one-year period has led to a wide range of both positive and negative returns. However, holding them for any 20-year period between 1926 and 2019 has generated a much narrower range of outcomes.
TIME IN THE MARKET!
600
What was the Best Quarter and Worst Quarter for the MGIA Select Moderate Portfolio.
Take the ball and show us where to go?
Boom!
600
How many members make up the CIO?
Give or Take 5
What is 235 members?
Extra: 65 master degrees, 3 PhDs, 5 law degrees, ~60 CFAs, ~15 CAIA.
Average of ~ 18 years of experience per professional.
600
What is the time frame that a FSA has to mark a referral quality?
What is 90 Days after the referral is submitted
600
Explain how an account owner can accelerate their gifting time table to a 529 plan in one year.
What is by contributing the 5 year gift tax rule ($90,000 individual/$180,000 married couples electing to split gifts).
600
2 Part Question:
If a FSA refers to Private Bank, when is flat value awarded?
What is the Flat Value Amount the FSA receives?
Flat Value credit is awarded when the Quality Private Bank referral is reported by GRE with status of WON and Sub Status of FUNDED (no stated dollar amount)
FSA receives Flat Value of $3,000,000
700
Talk to me like a client:
The dangers of "waiting it out on the sidelines"
700
How does the time value of money affect the estimated goal cost and why? (Hint: Goal cost changes with lump sum vs. future contributions)
A goal that is funded in part by future contributions is more expensive than a goal funded by a lump sum in the present.
These future contributions will have less time to grow as money invested today.
700
The Premium Rewards credit card can repair, replace or reimburse you, if an eligible item purchased with the card is stolen (Porch Pirates) or damaged within 90 days of purchase.
This feature will provide reimbursement up to what dollar amount per claim?
What is $10,000
700
Math me:
A client comes into the FC and is referred to the FSA by a Senior Banker. The FSA then has a quality conversation and marks the referral quality. The FSA then opens and funds a BOA Savings Account with $325k.
What, if any, revenue or compensation will the RM receive?
$30 quality referral to FSA
$3,000 Revenue ($12 per 1000 / capped @ $250k)
700
How many years must you have owned a 529 plan for before you can rollover to a Roth IRA?
What is 15 years.
Note: Contributions made to the 529 plan in the last 5 yrs before distributions are ineligible for a tax free rollover.
Lifetime Rollover Limit = 35,000
700
Explain this:
How to extend your BG Tracking Pipeline based on NM/NA or EA/NM Opportunity Logging