6 Essential Ingredients to Life Insurance ADVICE - Click to Listen to Barry
Barry Flagg's 6 Essential Ingredients to Life Insurance ADVICE
On the heels of Marty Shenkman’s notes from the proceedings at the Heckerling Institute on Estate Planning, and for reasons discussed in the “What the Heck(erling) is Going on with Life Insurance Planning After Tax Reform? Planning When the Only Certainty is Ambiguity” presentation by Larry Brody, Mary Ann Mancini, and Charlie Ratner at Heckerling, the estate planning professional is more important than ever to the positive or negative impact that life insurance will have on clients’ planning.
In his exclusive LISI webinar, hear Barry live as he shares his experience from his “front-row seat” to the transformation of the investment business, how he sees the life insurance industry undergoing this same transformation, and how to use new Best Practice Standards to ensure clients benefit from greater transparency, lower costs, and better performance. Note that registrants will also receive Barry’s white paper on this topic to include decision-tree flow charts for each of the 6 Essential Ingredients to Life Insurance ADVICE, which is an added bonus.
Participants will receive a copy of the 22 page 5,000+ word white paper Barry previously prepared for LISI on this topic. This webinar will discuss the 3 mega-forces that transformed the investment business, how these same 3 mega-forces are transforming the life insurance business, and how to use new Best Practice Standards to know whether clients are actually being advised on the prudent selection or retention and proper management of life insurance, namely to:
- Define roles and responsibilities of the life insurance professional in a manner that ensures client’s best interests are served,
- Analyze client’s circumstances, goals and objectives in a way that more naturally leads to prudent product selection or retention,
- Strategize defining characteristics of product types and learn how R.A.T.E. can help ensure the use of product most aligned with client’s interests,
- Formalize the search criteria for best-available rates and terms (BART) that considers inherent constraints and conflicts of interest,
- Implement best-available rates and terms (BART) while avoiding life insurance industry practices now considered “misleading”, “fundamentally inappropriate”, and unreliable by financial, insurance, and banking industry authorities, and
- Monitor the factors affecting performance to reduce the risk of client disappointment and ensure client’s interests are served over time.
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Barry D. Flagg is the inventor and founder of Veralytic®, Inc. , the only patented online publisher of life insurance pricing and performance research and product suitability ratings. Veralytic is the product of his unique background as both the youngest Certified Financial Planner (CFP®) in history schooled in the investment business, as well as a life insurance practitioner consistently ranked in the top 1% of the industry. His experience in both financial product analysis, life insurance sales and marketing, and his success in managing large life insurance portfolios for affluent individuals and growth companies, brings an unparalleled advantage to his presentations.
Barry is a recognized expert in applying Prudent Investor principles to life insurance product selection and portfolio management having addressed the national conferences of HSBC Bank/WTAS, Ernst & Young Annual Family Office Accounting & Tax Education, Fi360, FPA, Grant Thornton, Holland & Knight, the Academy of Financial Services (AFS), and many of the largest independent distributors of life insurance in the U.S. He has also been published by the ABA, AICPA, CCH Group, Fiduciary & Investment Risk Management Association (FIRMA), and Trust & Estates, cited by ALI/ABA reference text, guest lectured at Leadership Bootcamp for Life Insurance Stewards at West Point, Stetson Law, Texas Tech University and the Wall Street Academy and appeared on national internet radio shows for a number of the largest insurers in the U.S.
Barry is also a Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC) and Cum Laude graduate of the W. Paul Stillman School of Business at Seton Hall University. Barry has been on the CFP Board's Disciplinary and Ethics Commission, an adjunct faculty member of the College for Financial Planning, and is a member of the Society of Financial Service Professionals (SFSP), the Financial Planning Association (FPA), the National Association of Insurance and Financial Advisors (NAIFA), the Million Dollar Round Table (MDRT), and the Beta Gamma Sigma National Scholastic Honor Society.