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10 5-11 client game-plan for jane howland feedback


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moneycapsules presentation

moneycapsules presentation

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  • 1. Jones Game-Plan Expressing your unique Perspective Jaimie Blackman, MS,CWS® 14 E. 60th Street Suite 402 New York, NY 10022Copyright © 2011 Media Solutions Corporation 2011MoneyCapsules® is a registered trademark of Media Solutions CorporationNot to be reproduced, redistributed or retransmitted in whole or part without writtenpermission from Media Solutions DBA MoneyCapsules®.All rights reserved.
  • 2. MoneyCapsules FormulaP=MC7 erspective= 7 MoneyCapsules
  • 3. What is MoneyCapsules®?MoneyCapsules® is a learned process which uses 7 simple wordscalled the 7 MoneyCapsules®. Designed to communicate anindividual’s unique perspective, MoneyCapsules® is a pre-requisitefor making better money decisions and keeping you in control of yourfinancial life.Completed in three simple steps with the help of yourMoneyCapsules® Coach, your Game-Plan is presented to your trustedadvisors before the implementation process, to insure decisionsreflect the client’s complete perspective.
  • 4. Why do I need MoneyCapsules®? To communicate your PerspectivePerspective- a view of things in their truerelationship or relative importance, Miriam Webster’s DictionaryKnow thyself, Socrates • Most often, Advisors will start with WHAT they recommend, and How they plan on implementing the strategy. Rarely, they try to help you better communicate to them what your perspective is. The WHY you do what you do. • When one’s unique perspective is clarified and communicated, decisions are more powerful putting the client in control of their financial life.
  • 5. How does MoneyCapsules® work MoneyCapsules ® breaks down financial problems into 7 simple words across key industry categories. The process helps clients clearly communicate their perspective to their trusted advisors even in overwhelming situations.
  • 6. Organize. Understand. Decide Your Coach, a trained financial professional, will teach you the MoneyCapsules ® process in three simple steps 1-Organize- your financial resources and priorities into seven easy to understand words representing the 7 MoneyCapsules® Cash-Growth-Income-Risk-Time-Giving-Integration 2- Understand- your perspective by reviewing the choices and consequences of your actions before you decide 3- Decide- by communicating your perspective reflected in your Game-Plan to trusted advisors before implementation When decisions are based on your personal values, they are more authentic to what you really want. You are better able to communicate your perspectives with your trusted advisor(s) staying in control of your financial life.
  • 7. Understand MoneyCapsules® Industry Categories Section 1: Insurance Section 2: Stocks Sections 3: Bonds Section 4: Alternative Investments
  • 8. Understand Product Category/ Type Insurance / LTCKey concepts: • Cash Reserve including: Discussion • checking/savings accounts How do the Key concepts of Cash • CDs relate to LTC • Money Market funds Client questions and notes • Emergency Funds - • Sleep well at night - • Cash Flow including: - • inflows, outflows, expenses - • Liabilities/debt • appropriateness and inappropriateness of debt • cash and cash equivalents • Liquidity • Access to lump sum
  • 9. Understand Product Category/ Type Insurance / LTCNumber in order of importance How will the purchase of LTC impact Cash (review from previous page) Cash Explain Liquidity needs ___ - Cash reserve ____ Opportunity cost ___ - Lump sum ____ - Expense List Unacceptable Consequences If I buy LTC, if I don’t - - - -
  • 10. Product Category/ Type Insurance / LTCStrengths Weakness Your Perspective
  • 11. Product Category/ Type UnderstandIf never used, I want refund or death benefit Insurance / LTC Will protect the growth of portfolio for my family My guaranteed income will cover most of premium cost I want to transfer my LTC risk to an insurance company I want a 6 year benefit period I want a death benefit if I never use the policy My decision is heart felt and not made because of guilt
  • 12. OrganizeYour Financial Life
  • 13. OrganizeYour Priorities
  • 14. Decide Product Category/ Type Insurance / LTC Express your perspective to the purchasing of Long-Term Care Insurance QuestionsWhy – Want to protect portfolio for my - How might the purchase of LTCfamily. Need for transferring risk of LTC to affect my cash flow?Insurance company. Concern for Death - What are the opportunity cost ifbenefit if never used. funds were invested elsewhere?How- Premium fully funded at beginning of - Will insuring the risk outweigh thecontract to insurance company. Aware of reduction of cash flow?opportunity cost - How much daily benefit do IWhat- Client is looking for a guaranteed require?universal life insurance with a LTC rider, and - How long should the benefit last?the ability to receive refund of premium - Will I need annual compounding ofand or death benefit- the benefit? - Explain the death benefit? - What are other options to LTC?
  • 15. Perspective Finder trusted Writing it down helps clarify it and better communicate it to advisors.Why do I want- this product?Why is this important to me.Use Private Writing for clarityFor exampleWhy do I want Lifeinsurance, LTC, Why is thisimportant to me? How will the answer What- product, service to my WHY affect or process best reflectsWhy do I want Annuity? eachWhy do I want hedge fund? my point of view.Why do I want mutual fund? MoneyCapsulesWhy do I want CD? CashWhy do I want a trust? GrowthWhy do I want to create a trust for Incomemy grandchildren?Why do I want $2million in cash Riskreserve? Time GivingWhy do I invest in stocks, in bonds? Integration
  • 16. Initial Prospect Call/ Part 1 Have the caller on the site during the call Key points• This is not a financial advisory or financial planning meeting.• If caller knows you are a financial advisor, remind them, in this capacity you are not giving advice. This is an educational ”Coaching” relationship.• This is about teaching you how to use MoneyCapsules, a process which gives you mastery over your decisions which control your financial life through learning how to use 7 simple words. In three easy steps.• We are first going to help you get your financial world- Organized, and then Understood. By so doing, you are not delegating your perspective and decisions to your trusted advisors. You are in control and take full ownership.
  • 17. Initial Prospect Call/ Part 2• The process is taught in 2, one-one individual sessions with me. (skype is also an option) with home work in between meetings.• At the end of the meetings you will receive a written Financial Game-Plan which you will use to communicate your perspective and decisions with your trusted advisors• Ask them to explain their current process to Organize, Understand and make money decisions.• Ask them to elaborate on the quality of the communication with their trusted advisors. (remember MoneyCapsules works equally well with improving communication with legal and tax advisors.)• How is MoneyCapsules different from the way you are currently doing things?• Establish the gap, explain the fees and schedule the two meetings at least 2 weeks apart
  • 18. MoneyCapsules® 1: CashFor many, strong Cash-Flow is an essentialingredient to financial freedom, whilesufficient Cash-Reserve completes therecipe. The Cash tool satisfies the need forsafety while optimizing a healthy balancesheet Key concepts • Cash-Flow • Cash- Reserve • Using Cash to avoid selling equity
  • 19. Cash Key ConceptsCash Key concepts: • Cash Reserve including: • checking/savings accounts • CDs • Money Market funds • Emergency Funds • Sleep well at night • Cash Flow including: • inflows, outflows, expenses • Liabilities/debt • appropriateness and inappropriateness of debt • cash and cash equivalents
  • 20. MoneyCapsules® 2: GrowthIf investments are not compounding, the thiefin the night called inflation, eventually robspurchasing power. The Growth tool challengesthe inclination to over or under allocate stocks-bonds, alternative investments or cash.
  • 21. Growth: Key Concepts Key concepts: • Investments (long term) • Diversification/asset allocation • Magic of compounding • Total Return • Investing and speculating • passive and active investing • business succession plans including: • buy-sell agreements • transferring ownership • non-investable assets including: • real estate • closely held business • equity or fixed income assets • capital lifetime needs • wealth surplus • tax sensitivity • qualified and nonqualified assets
  • 22. MoneyCapsules® 3: IncomeIncomeCentenarians are the fastest growing segmentof the population.When income is guaranteed for life, the risk ofoutliving your money is reduced.The income tool helps you to explore youroptions with Social Security, Pensions, andguaranteed life-long Annuities.
  • 23. Income: Key concepts • Guaranteed life time income • Social security, annuity, pensions • cost of living increase (COLI) • spousal continuation • optimal allocation: fixed or variable • inflation/purchasing power • sustainable withdrawal rates • downside market protection
  • 24. MoneyCapsules® 4: RiskRiskIn a world filled with uncertainty, managingrisk plays a critical role in the health of yourfamily’s financial life. Wealth replacement andasset protection satisfies a universal need toprotect those who we love. The Risk toolexamines the implications of transferring riskto insurance institutions.
  • 25. Risk: Key Concepts • Insurance: Life, disability, long term care • risk tolerance • divorce and legal separation • death of spouse or loved one • titling of assets • Medical directives • power of attorney • health care proxy • Wills and legal planning • sandwich generation • Tax planning
  • 26. MoneyCapsules® 5: TimeEinstein was quoted as saying that the magicof compounding, creating long-termgrowth, was the most powerful force in theUniverse. Time makes this a reality. The Timetool helps examine lessons learned fromhistorical market cycles.
  • 27. Time: Key Concepts• Liquidity• Short term goals • Time horizon • Timing the market/time in market• market history/business cycle: • “the declines are temporary, the advances are permanent”
  • 28. MoneyCapsules® 6: GivingGivingGiving to family and charities we care deeplyabout enriches our lives. The Giving toolexamines tax reduction strategies helping boththe giver and the receiver.
  • 29. Giving: Key Concepts • lifetime gifting • education – 529s, UGMA, UTMA, 2503(c), deductions, Coverdell, • legacy gifting • Maximizing distribution to heirs • Continued control of wealth after death • Charitable giving • Wills, Trusts/Special needs Trusts • GRATS-CRATs, ILITS + • Estate and gift taxes • Tax efficient giving • Exemptions and deductions • Qualified and non-qualified plans
  • 30. MoneyCapsules® 7: Integration Integration “We have met the enemy, and he is us.” Pogo Possum There is no greater influence on achieving multigenerational wealth than our behavior. Panic and greed fuel our irrational decisions. The Integration tool examines past decisions and decisions yet to be made.
  • 31. Integration: Key Concepts • human concerns • personal values and dreams • Money purpose • lifetime goals • special life planning, • Common behavioral mistakes • Investor behavior and investor success • Reduce money anxiety
  • 32. Coach Meeting 2: Understand Know thyself, Socrates Discover your unique perspective by • Understanding the 7 moneycapsules.Clearly articulating what you stand for, why you dowhat you do will increase the likelihood.My Perspective on Cash.My Perspective on GrowthMy Perspective on IncomeMy perspective on RiskMy perspective on TimeMy perspective on GivingMy perspective on Integration
  • 33. Why do people hire a financial advisor? We don’t care how much our advisor knows until we know how much the advisor cares Why do we choose a specific doctor, or advisor? We feel our perspective is being understood. Help your advisor by being able to communicate your perspective. They want the confidence that their perspective will be understood when implementation decisions are made
  • 34. Your contact info
  • 35. Your Purpose Road Blocks Strengths
  • 36. Your Purpose Road Blocks Strengths
  • 37. Your Purpose Road Blocks Strengths
  • 38. Your Purpose Road Blocks Strengths
  • 39. Your Purpose Road Blocks Strengths
  • 40. Your Purpose Road Blocks Strengths