Financial planning integration chm 6.14
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This document discusses a mortgage company's plan to integrate financial planning services for veterans into their existing mortgage refinancing services. It notes many veterans struggle financially and details statistics on homelessness, disability, and income challenges among veterans. The company plans to offer veterans free financial planning consultations when they refinance their mortgages to help alleviate financial stress through retirement planning, life insurance, and leveraging home equity. The goals are to help clients invest in retirement, pay off mortgages early, and create pensions. Advisors will be compensated for any financial products sold.
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Financial Planning Integration IRRRL chm
The document discusses a mortgage company called Creative Home Mortgage that aims to provide financial planning services to veterans in addition to refinancing mortgages. It notes many veterans struggle financially and are underserved. The company plans to offer financial products like life insurance and retirement plans. Mortgage consultants will introduce a free financial planning consultation to identify options to help clients pay off mortgages early or leverage home equity. The goal is to help clients alleviate financial stress while living on a fixed income and for the company to sell more financial products and earn additional commissions.
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$500 x 2 people x 52 weeks = $52,000 per year in premiums
Commission on first year premiums is 50-100% = $26,000 - $52,000
Commission on renewal premiums is 10-20% = $5,200 - $10,400 per year
Total potential first year earnings = $26,000 - $52,000
Total potential renewal earnings = $5,200 - $10,400
So total potential earnings in year 1 is $26,000 - $52,000
Total potential earnings each year after is $5,200 - $10,400
Budgets and budgeting
This document provides information on budgeting and financial goals. It discusses developing a personal budget by calculating monthly income, tracking daily spending habits, determining monthly expenses, and preparing a spending plan. The objectives are to learn how to manage money by setting financial goals, preparing a budget, and finding ways to decrease expenses and increase income. Key steps involve being realistic with goals, setting timeframes, considering constraints, and ensuring monthly income exceeds expenses. Tracking tools like spending diaries can help identify where money is going. Maintaining a positive net worth by paying bills and managing debt is also covered.
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Help Employees Reach Their Financial Goals - Regardless of the size of your business or the
type of benefits you provide, the Employee
Financial Resource Program offers you many
advantages • Highlights what you provide to your
employees as the foundation of their financial
security, which reinforces goodwill and helps
employee morale and retention
• May increase productivity as employees
gain more control over their financial future
• Allows you to distance yourself from offering
financial advice
• Facilitates offering another valuable benefit to
your employees, with no cost to you
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This document discusses balancing saving for retirement and paying for college. It notes that things were different for previous generations who had lower college costs and more robust pensions. While the most expensive option is paying for an Ivy League education, focusing only on retirement means children may have limited college options. The best approach is open communication where both retirement and college are prioritized, including getting children involved in saving for college. Tax-advantaged retirement accounts can be used for college with some pros and cons. 529 plans are also an option after addressing retirement needs. The document provides details on Alabama's 529 plan options.
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This document discusses various factors to consider when taking out a home loan or refinancing an existing loan. It notes that while most people want to pay off their home loan quickly, there are times when extra funds are needed for other purposes like renovations or investments. The document examines the costs and benefits of loans that charge ongoing fees versus those without fees. It also outlines other fees to be aware of like establishment fees, termination fees, and penalties for breaking fixed rates. Finally, it recommends obtaining a flexible loan with features like redraw facilities, offset accounts, and multiple repayment options to meet changing needs over time.
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Financial Planning Integration IRRRL chm
The document discusses a mortgage company called Creative Home Mortgage that aims to provide financial planning services to veterans in addition to refinancing mortgages. It notes many veterans struggle financially and are underserved. The company plans to offer financial products like life insurance and retirement plans. Mortgage consultants will introduce a free financial planning consultation to identify options to help clients pay off mortgages early or leverage home equity. The goal is to help clients alleviate financial stress while living on a fixed income and for the company to sell more financial products and earn additional commissions.
St. Bonaventure Friday Financial Forum September 26, 2014
$500 x 2 people x 52 weeks = $52,000 per year in premiums
Commission on first year premiums is 50-100% = $26,000 - $52,000
Commission on renewal premiums is 10-20% = $5,200 - $10,400 per year
Total potential first year earnings = $26,000 - $52,000
Total potential renewal earnings = $5,200 - $10,400
So total potential earnings in year 1 is $26,000 - $52,000
Total potential earnings each year after is $5,200 - $10,400
Budgets and budgeting
This document provides information on budgeting and financial goals. It discusses developing a personal budget by calculating monthly income, tracking daily spending habits, determining monthly expenses, and preparing a spending plan. The objectives are to learn how to manage money by setting financial goals, preparing a budget, and finding ways to decrease expenses and increase income. Key steps involve being realistic with goals, setting timeframes, considering constraints, and ensuring monthly income exceeds expenses. Tracking tools like spending diaries can help identify where money is going. Maintaining a positive net worth by paying bills and managing debt is also covered.
Employee Financial Resource Program
Help Employees Reach Their Financial Goals - Regardless of the size of your business or the
type of benefits you provide, the Employee
Financial Resource Program offers you many
advantages • Highlights what you provide to your
employees as the foundation of their financial
security, which reinforces goodwill and helps
employee morale and retention
• May increase productivity as employees
gain more control over their financial future
• Allows you to distance yourself from offering
financial advice
• Facilitates offering another valuable benefit to
your employees, with no cost to you
Families & finance powerpoint 10.20.2011
This document discusses balancing saving for retirement and paying for college. It notes that things were different for previous generations who had lower college costs and more robust pensions. While the most expensive option is paying for an Ivy League education, focusing only on retirement means children may have limited college options. The best approach is open communication where both retirement and college are prioritized, including getting children involved in saving for college. Tax-advantaged retirement accounts can be used for college with some pros and cons. 529 plans are also an option after addressing retirement needs. The document provides details on Alabama's 529 plan options.
YMM Oct07 - advisory
This document discusses various factors to consider when taking out a home loan or refinancing an existing loan. It notes that while most people want to pay off their home loan quickly, there are times when extra funds are needed for other purposes like renovations or investments. The document examines the costs and benefits of loans that charge ongoing fees versus those without fees. It also outlines other fees to be aware of like establishment fees, termination fees, and penalties for breaking fixed rates. Finally, it recommends obtaining a flexible loan with features like redraw facilities, offset accounts, and multiple repayment options to meet changing needs over time.
Smart Directions | Bonds & Annuities | March 17, 2016
This document provides information about annuities and bonds. It defines annuities as investments that convert a lump sum into a stream of monthly income for a fixed period or lifetime. It describes different types of annuities including single premium deferred annuities, single premium immediate annuities, variable annuities, and index annuities. It also defines bonds as traded loans that provide predictable income and discusses types of bonds as well as risks associated with bond investments like interest rate risk and default risk.
Commercial Equity Partners Intro
Commercial Equity Partners Ltd believes that in both prosperous and tumultuous economic times, small investors deserve to find investment options that offer superior rates of return and provide stability during unpredictable times. Since 2006, we at CEP have been maximizing investment leverage, thus producing high-yielding returns for our clients.
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Personal finance and investing principles include creating a budget by listing income and expenses, setting financial goals, saving at least 10% of monthly income, and periodically reviewing expenses. Investing principles involve diversifying investments across stocks, bonds, and mutual funds for long-term growth. Investors should start early to benefit from compounding returns and plan for retirement by contributing to tax-advantaged 401(k) plans or annuities. Resources for learning include online tutorials and simulators.
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1) Current market-consistent discount rate methods can introduce large errors in liability valuations compared to the implicit accrual rates in contribution and benefit promises.
2) Pension liabilities should be valued based on accumulated contributions plus accrued interest, similar to insolvency procedures, rather than discounted projected benefits.
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The document provides an overview of key concepts related to money and financial institutions. It discusses the characteristics and functions of money, the components of the US money supply (M1 and M2), and the role of the Federal Reserve in managing the money supply using tools like open market operations, reserve requirements, and the discount rate. It also describes the roles of various financial institutions like commercial banks, thrifts, credit unions, and non-depository institutions. Finally, it discusses the Federal Deposit Insurance Corporation (FDIC) and its role in insuring deposits in commercial banks and thrift institutions.
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This document provides a summary of Lesson 4 of the Azure School on financial planning. It discusses various types of investments including life insurance, life annuities, and structured products. It warns that structured products often disappoint investors with poor returns. Unregulated products like land banking, gold and wine investments may be scams. The document stresses the importance of writing a will and revising it over time to distribute one's estate appropriately.
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This document discusses mutual funds as an investment option. It notes the benefits of mutual funds like professional management, diversification, low minimum investments and fees. It describes different types of costs associated with mutual funds like front-end loads, expense ratios, and management fees. The document provides examples to calculate costs of a load fund. It gives tips for choosing funds based on investment objectives, style, performance and fees. Finally, it outlines different types of mutual funds for long-term investors or those seeking income.
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This document provides an introduction to basic personal finance and investing concepts for young adults. It discusses three common ways to invest: real estate, bonds, and stocks. Real estate involves buying property, which generally increases in value over time. Bonds are loans issued by governments and companies that pay interest. Stocks represent partial ownership in companies and allow investors to participate in profits and growth. The document provides examples and explanations of key terms like inflation, interest, mortgages, and public vs private companies.
DC Research Hyperbolic Discounting
- People tend to discount future rewards and prefer immediate rewards, meaning they are more likely to cancel a future vacation for an even better future vacation rather than cancel a soon vacation for a better future one. This "hyperbolic discounting" can lead to overconsumption and under-saving.
- Automatic enrollment and automatic contribution increases in retirement plans can help counter this tendency by making saving the default option and gradually increasing contributions over time in a way that feels low-cost to employees.
- A real 401(k) plan found that participants in a program with automatic contribution escalators had the highest savings rates that were sustained over time, showing the effectiveness of this pre-commitment approach.
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This document provides information on different life stages and financial needs associated with each stage. It includes the following:
- Descriptions of what to expect financially for different life stages such as being a student, single parent, married couple, or retired.
- Common questions a financial advisor might ask customers to help them understand their needs for each life stage.
- Information on "detours" people may face like debt, divorce, or retrenchment and how a financial advisor can help during difficult financial times.
- A map showing different life stages and details on financial products available for each stage from Old Mutual aimed at helping customers secure their financial future.
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This document provides an overview of World Financial Group's (WFG) financial planning services. WFG helps clients achieve their financial goals through a customized strategy developed by a licensed associate. The strategy addresses challenges like debt management, emergency savings, retirement planning, and life insurance needs. WFG offers access to products from major insurance and investment companies. The document outlines various financial strategies and tools that WFG associates can use to help clients build wealth, manage debt, plan for retirement and other goals.
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Financial planning integration chm 6.14
- 3. • Up to 22 Veterans commit suicide daily. • 49,933 of Veterans are homeless, which represents 8.6 percent of the total homeless population. • About 11-20 out of every 100 Veterans suffer from PTSD, depression or both. • VA hospitals are underfunded and over populated. • 3.8 Million Veterans have a service-connected disability. QUICK FACTS ABOUT OUR CUSTOMERS • 50,647,676 Veterans are retired living on a fixed income. • Based on a DOD non-profit survey, 1 out of 3 Veterans claim they struggle with covering basic cost of living and inflation.
- 4. CREATIVE HOME MORTGAGE What we Already Offer Skip Two Payments Escrow Refund Lower Payment Property Tax Reduction Cash Out Debt Consolidation Financial Planning
- 5. CREATIVE HOME MORTGAGE What Will They Offer? Universal Life Policy Retirement Plans Pension Creation Life Insurance MORTGAGE PROTECTION
- 6. CREATIVE HOME MORTGAGE How to Integrate in to Call Flow Savings Program Cash Out Financial Planning At the end of each call, whether a client chooses to participate in a Refinance, introduce the option of a free financial planning consultation. “A recent non-profit VA survey found that veterans are struggling to make ends meet at the end of each month, would you consider yourself in this category?
- 7. CREATIVE HOME MORTGAGE How to Integrate in to Call Flow Savings Program Cash Out Financial Planning “We work in partnership to assist veterans regarding financial planning and presenting options to alleviate financial stress while living on a fixed income. Here’s what I would like to do, when would be a good time within the next week to have one of our financial planners sit down with you and show you a few options to help.”
- 8. CREATIVE HOME MORTGAGE What Will We Do About It: • Offer free in person financial planning to our clients • Integrate PACE Financing within the next few months • Cover Closing Costs to Win a Deal
- 9. CREATIVE HOME MORTGAGE Goals of Financial Planning • A few options: •Leverage Equity to invest in Retirement Planning •Help Clients pay off mortgage early by leveraging life insurance • Pension Creation • Resell client to cash out for investment purposes
- 10. CREATIVE HOME MORTGAGE Leverage Clients Equity Earn a Bigger Return on IUL Investment
- 11. CREATIVE HOME MORTGAGE “We work in partnership to assist veterans regarding financial planning and presenting options to alleviate financial stress while living on a fixed income. When are you available to sit down with on e of our financial advisors? Schedule the appointment and earn more commission.
- 12. CREATIVE HOME MORTGAGE Integration: • If you find that a client is on the fence, or we cannot close due to a client having concerns about financed closing costs, flag your manager and we will evaluate in real time whether we can cover the closing costs to win the deal. •Manager or Ops approval is required prior to offering this to your client, and may be an escalation with a call back. • If a retirement plan, mortgage protection, or other policies are sold you will receive a commission of up to $800 per client, paid within the week. Your manager can track the status of the client and policies sold online.
- 13. Q/A
Editor's Notes
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- Here are my objectives for you today to increase your ability to provide phenomenal service: How to leverage your clients equity to invest in IUL’s How to help your clients pay off their mortgage early by using an IUL Break down whether it’s more beneficial for a client to sell their investment property to invest in an IUL or not How to leverage us, your partners, to help you achieve these results easily.
- Leveraging Clients Equity How to earn a bigger return and commission