risk specialist focus club 20101
DESCRIPTION
This was a presenetation that I gave to a number of advisers as part of the Professional Investment Services National Risk Roadshow.TRANSCRIPT
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The material shown in this presentation is for general information
purposes only. It is not intended to be, nor should it be read as
specific personal risk advice.
Whilst all care is taken in the preparation of this material no warranty
is given with respect to the information provided, and accordingly
no responsibility for errors or omissions, including responsibility to any
person by reason of negligence is accepted by Bourke Financial
Services Pty Ltd or any member or employee of Bourke Financial
Services Pty Ltd.
Before acting on any of the information contained in this
presentation you should obtain special advice from a specialist risk
professional, which is appropriate to your specific risk needs,
objectives and financial situation.
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Where we started
Where we are now?
Transitioning the Change
Our Process Now
How can we be different?
The Future
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Today we have around 1200 Risk
Insurance Clients
1000 Super Clients(Corporate & Retail)
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A Question we pondered:
“Where we would like our business to be in
5 to 8 years.”
Upfront/Level brokerage?
Or Level Brokerage over Stepped
Brokerage?
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$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
1 2 3 4 5 6 7 8
Co
mm
issio
n p
aym
en
ts (
$)
Year
New Business of $200K in annual premiums every year(Sale Value of Portfolio at year end)
Sale Value on Up-front p/f
Sale Value on Upf/Lvl p/f
Sale Value on Level p/f
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Want to pay minimum premiums
Don’t want to pay for advice
See products as commodities
Want to go direct (cut out the
middleman)
Don’t value expertise
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Want to have tailored solutions
More needs and lifestyle oriented
Will pay for quality advice/expertise
Want a long term relationship
Want optimum returns solutions
Vulnerable to better solutions
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We specialise in the areas of:
1. Insurance
2. Superannuation
3. Wills/Estate Planning
4. Finance.
Do you Pass the Question Mark Test?
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What Funding arrangements do you have in place for your family if you were to die or become disabled tomorrow?
If you were to die tomorrow would you like you family to be worse off, the same or better off financially?
Do you want me to take these problems and give them to someone who can handle them or do you want to look after them yourself?
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Do you have a binding or non-binding
nomination in your super fund?
What is your Investment Strategy?
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Would you like the debt on your
Home/Investment Loan extinguished if
you were to die or become disabled?
Have you signed any personal
guarantees for Business Loans that you
have in place?
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Do you have a will?
Who is the Executor?
Is there a testamentary trust setup?
Who is the guardian of your children if
you and your wife died tomorrow?
Would you like the distribution of your
assets decide by a court?(“What do you
mean?”)
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Provided by McCullough Robertson
Only one of it’s kind in Australia
Web based data collection
Utilises Go To Meeting technology with 2
Solicitors
Tiered pricing
Project Manage entire process
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And if they say “No"
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“People don’t buy Life Insurance
because someone might
die, they buy because
someone has a chance to live.
Dave Buckwald
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Online Applications+
Skype +
Pamela+
Go to Meeting
Livescribe Smartpen
=
TIME
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Free to Download
Allows free calls from computer to computer.
Even if your clients do not have Skype the call rates are extremely cheap compared to normal rates.
Available to people Worldwide
But I hear you as
…How can we record the phone call?
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Automatically records all phone calls with
Skype.
Great for Duty of Disclosure Issues with
Online Applications as all calls are saved
for future reference.
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Enables Individuals & Organisations to easily conduct online meetings without leaving your office.
Client can see your computer whilst you are completing paperwork.
Fantastic for online Applications & Reviews.
Decrease Costs & Expand Reach
Increase in Productivity & Revenue
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Paper Replay
Record Audio & Paper Sessions for Future
Reference
Send to clients for confirmation of
meeting and they also become
responsible for actions that are to be
taken.
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Life Insurance
TPD Insurance
Trauma Insurance
Income Protection
Business Expense
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Business Insurance
Binding Death Nominations
Wills & Estate Planning
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NOT for your clients
BUT
FOR YOU
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Presentation by:
Bourke Financial Services
David BourkeAuthorised Representative of
Professional Investment Services