6 BROKER DEALER MYTHS DEBUNKED IN 30 MINUTES. David Hoff CLU, ChFC, CFP Owner First Heartland Capital, Inc. MYTH #1: ALL BROKER DEALERS ARE OWNED BY LARGE COMPANIES SO…WHY DOES.
Download ReportTranscript 6 BROKER DEALER MYTHS DEBUNKED IN 30 MINUTES. David Hoff CLU, ChFC, CFP Owner First Heartland Capital, Inc. MYTH #1: ALL BROKER DEALERS ARE OWNED BY LARGE COMPANIES SO…WHY DOES.
6 BROKER DEALER MYTHS DEBUNKED IN 30 MINUTES. David Hoff CLU, ChFC, CFP Owner First Heartland Capital, Inc. MYTH #1: ALL BROKER DEALERS ARE OWNED BY LARGE COMPANIES SO…WHY DOES OWNERSHIP MATTER? • Independently owned for 27 years • Products are determined by client need not distribution • Relationships are what set us apart from the competition VAN GOGH SLICED OFF HIS EAR? MYTH #2: BROKER DEALER’S REQUIRE INDEX ANNUITIES TO FLOW THROUGH THE BROKER DEALER Good News: we currently view this as an outside business activity Full Disclosure: if it is deemed a security it must flow through the broker dealer This business can still be run through Davis Life in either scenario! WITCHES WERE BURNED AT THE STAKE IN SALEM? MYTH # 3: MEDIUM SIZED FIRMS CAN’T COMPETE IN THE TECHNOLOGY ARENA. • We love technology • Pershing owned by BNY has a very hefty technology budget that we are able to leverage • Paperless office • Net X360 • Robust research offering MAGELLAN CIRCUMNAVIGATED THE WORLD? MYTH #4: SWITCHING BROKER DEALER’S IS IMPOSSIBLE • Hard, but not impossible • What is your long term business plan (short term pain long term gain)? • Dedicated transition team to assist in every detail • Agents typically have their best year ever SHAKESPEARE WROTE THE STORY HAMLET? MYTH #5: I CAN’T HAVE A RELATIONSHIP WITH MY BROKER DEALER • Be 1 of 300 not 1 of 10,000 • Seasoned staff with years of experience • We understand and love the life insurance culture EDISON INVENTED THE ELECTRIC LIGHT? MYTH #6: BROKER DEALERS TRY TO TELL ME WHAT TO DO, WHAT TO BUY, WHAT PRODUCTS TO SELL • The only recruiter that loves his compliance department • We work with you as a partner • We tell you what the fees are upfront • No hidden costs • You run your business the way you see fit AMERICA BECAME INDEPENDENT ON JULY 4, 1776? WHAT ARE YOU LOOKING FOR IN A BD? HONESTY INTEGRITY RELATIONSHIPS GEORGE WASHINGTON WAS AMERICA’S FIRST PRESIDENT? THANK YOU