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so you mentioned a six-step sales process earlier we talked about this you know the cell story six step sales process software to validate it um what is that six step sales process if you want to go into that a little bit Yeah so um you know we break the sales story into six steps Cody and the first step is all about connecting right and during the fact finder we've come up with what we call the four questions and I always tell advisors this this is the most important part of the whole process I always tell advisors if you have a client and we've all had those clients that like you have a meeting or two and then all of a sudden they don't return your phone call and then I say let me ask you this do you know the answer to the four questions and what are the four questions number one what is the client's concern what is Their Fear what do they want to get out of a discussion with a financial professional so that's number one [Music] [Music] what is up welcome back to the ca Power Player podcast I'm Yours Cody Askins and today's special guest oh my gosh dude this dude is hanging out with some of the biggest players in the industry and doing amazing things at helping agents revolutionize their sales and marketing with their business he owns The Institute of financial wellness and helps agents absolutely start to dominate their practice agents and advisors so please welcome Eric Sussman hey Cody how are you I am great man thanks for jumping on appreciate your time absolutely also I do want to mention that before we get started like you know I've I've Loved getting to know you uh we're gonna be hanging out a bunch the next few months we're actually doing three different events together um to where there's a link below if everybody's watching over these next several months there's a link below where you can actually join Eric and I on some private group training webinars you can actually register for and be a part of over these next few months why should they register below for these webinars we got coming up and what can they expect to learn so you know the bottom line with the ifw The Institute of financial Wellness is all about is just helping advisors and agents across the country take their practice to the next level so you and I are going to be talking and coaching them on on that six step sales process that has really helped so many advisors uh double uh if not even triple their closing ratio and really take their practice to the next level but we do a lot of different things at the Institute of financial Wellness to help advisors grow their practices but the six step sales process and and our software program uh and sales story is is really a phenomenal way to position and we really focused a lot on the retirement distribution market so it shows advisors and agents all across America how to really look using Monte Carlo stimulation by the way at retirement distribution planning and make their uh clients decision making process really really easy one of the reasons it's so easy Cody is because it's so simple so you know we run this score and it's either like you know hey do you want a 65 percent a success score or do you want a 95 success score what would you rather have and it's like so obvious and so apparent that the client should choose the 95 instead of the 65 percent and really it comes down to their portfolio having an annuity inside of it and that is what makes their portfolio so efficient it's awesome yeah I can tell you all obviously yeah I am too man I can tell everybody watching like and we're about to jump into your story what you do uh really well like this cat that you're looking at man this Eric Sussman cat man he is impressive he's brilliant he's borderline a genius okay maybe he's related to Albert Einstein I'm not sure but I can tell you this I've seen behind the curtain and of what you're going to see in these webinars and it's really freaking impressive it really really is okay so if you're out there you're like man I would love to hang out with you guys man I keep learning and keep you know leveling up my practice link subscription below we're gonna do three different webinars next few months we're gonna hang out uh you'd mentioned um before we get to like Monte Carlo simulation and all this other stuff man that like is really impressive how did you get like what's your story how did you get to where you are today and and end up doing all this special stuff for agents and advisors sure sure so you know Cody I've been in the financial services business now for like 28 years so it's been a while I remember being like you started right out of college or I think you were even in college yeah I started right out of college and I was always the young guy on the street and now I'm the old guy but um you know 28 years ago I started out as a sales professional selling insurance and over the years I grew into management capabilities and I I my my role became to recruit train and develop advisors and then eventually I had my own agency in South Florida and what I learned and what I what I know to be 100 True is that the best way that you can help an advisor grow their practice is twofold number one they need to be able to meet people on a favorable basis so how can I introduce my advisors at the time to other consumers that are are to Consumers that are looking for ways to solve the problems that they have so that's that's critical we all know that I know you have so many programs that help agents we we do as well and the second thing that I believe is once you in are introduced to this to this consumer or this this person on a favorable basis what is a systematic approach to showing them how you can solve their problem right so we at the ifw have created things that solve both of those problems and I left the the corporate world about four years ago to start the Institute of financial Wellness because I was very restricted and to be able to help advisors on on the mission of what I wanted to do which was again all going back to health advisors grow their practices by intro showing them ways to get introduced on a favorable basis to Consumers and to have a repeatable process to help people solve their problems absolutely I think one of the my favorite things you said about that was like a systematic process like so many agents and advisors are just winging it and they don't have something they're following every single time and I can tell you what what Eric's going to show you in these webinars coming up we're doing together is is a process you can 100 follow and when you mention like double and triple and closing rates like people and it's two because it's you're repeating something that's working for a lot of other people right which is great but also even more importantly than that like you've got a way to it makes you look like more of an expert you know you're you're delivering more information and data which you know yeah I'm not saying that's everything but like people care about especially certain personalities care about even more um and so you're doing it in a very process driven way so you can do it the same every single time and get predictable results which is cool uh what is Monte Carlo's simulation I know we'll get deeper in the webinars but like that's a that's a buzzword that people are like ah what is that man yeah so um the software that we developed is is is powered by a technology um but it's a it's a mathematical formula it's a statistical modeling technique that takes things that are very random and makes them predictable as a matter of fact Cody Nasa uses Monte Carlo simulation to launch spaceships talk about having to be precise yeah um Engineers uh use it to build Bridges and tunnels like that has to be accurate and where it got its name from uh Cody is is because the in Monte Carlo s use it to make sure that they always win and we know s are pretty good at winning right so the slot machines that they have the roulette tables that they have those are all powered by Monte Carlo simulation a mathematical formula that runs thousands of scenarios to show you your probability of success and what we use it for in our in our sales system and software is for people to be able to get a Monte Carlo retirement success score and the higher the score the better so what we're doing is basically showing people how adding annuities and insurance into the client's portfolio improves their score and we're taking people from 50 and 60 percent success scores to 95 and 100 success scores by utilizing uh this these annuity and insurance products I love it so what you're really doing in essence is like this is the new motto okay for for Eric and ifw is that you are helping advisors become the house like a where The House Always Wins I love it yeah yeah that's right good buddy and we're and we're healthy yeah I love it and we're also helping the clients right know that they're like joining the the advisor be the house right so it's like the advisor and take it a step further the advisor and the and the consumer the client they become the house right they they always win and uh you know the uh other I don't know who the other part is that loses but who cares right that's right man that's right yes as long as we win and then the client is put in a better place it's like dude it's a huge win-win it's awesome you know it's special so what what um like what brought you to the point where you start diving into things like this and like building something to help agents and advisors you know it's it's Cody it has always been my passion I literally and I don't I think you're the same way I literally get joy out of seeing other people succeed and if my company and and and in turn myself can succeed by helping others succeed that's like the ultimate driving force for me so I love helping other people succeed and while I'm helping them succeed I'm succeeding so that's just my passion and I it gets me excited I would also love for you to share too um your like story and journey of going from where you started to wanting to help advisors with their processes and systems and those type of things so it really all came I've I've read probably like you I've read so many sales books I've learned from so many role models and I really found the key elements of what makes a an amazing sales presentation and we built that into this this this sales story and and we built software to validate the sales story I think what a lot of places do is they they come up with this software and it's built in an ivory Tower somewhere and it doesn't really solve the problem of the client and it doesn't make it easy to use and easy to understand for the advisor so I think we've done a really good job at building the story first with with knowledge and expertise from lots of people building the story first then building a software to validate the story and that's the difference between building software first and then trying to make a story out of it versus having a story and then finding a software that can solve the the problem and help yeah that's that's good stories are so valuable in sales too man you know so I like I like the way that you're going about that it's good so you mentioned a six step sales process earlier we talked about this you know the cell story six step sales process software to validate it um what is that six step sales process if you want to go into that a little bit yeah so um you know we break the sales story into six steps Cody and the first step is all about connecting right and during the fact finder we've come up with what we call the four questions and I always tell advisors this this is the most important part of the whole process I always tell advisors if you have a client and we've all had those clients that like you have a meeting or two and then all of a sudden they don't return your phone call and then I say let me ask you this do you know the answer to the four questions and what are the four questions number one what is the client's concern what is Their Fear what are they want to get out of a discussion with a financial professional so that's number one if you don't know what the client's fears and concerns are that's a that's a problem for for you as the advisor number two you want to know that if money wasn't an issue for this client what would they do with their time right so you can start helping them dream helping them see their dreams so number one fears and concerns number two their goals and aspirations number three we have to know what Financial Role Models they have in their life positive or negative because we're going to try to get them envisioning themselves being like that Financial role model or avoiding being like the financial person that they don't want to be like and the last question is who helps them make financial decisions right how many of us have gone through a sales presentation where two or three meetings in the clients time to make the decision and they say well let me check with my brother-in-law that is an agent at State Farm right I mean who wants to hear that so what we want to do is up front we want to eliminate that objection that's what the four questions are all about and what I tell advisors all across America is you've got to be able to answer those four questions if you can't answer those four questions you don't really know how you can help the client yeah step number two yeah so uh step number two is about what we call setting the stage you're presenting some obstacles and we talk about how taxes have been a really low and debt in our country is really high and what direction do people think taxes are going everybody says up so we we present taxes as an obstacle and we talk about the fact that they may want to consider ways of paying taxes on the seed as opposed to the Harvest Right paying taxes now instead of later additionally and a big one is sequence of returns risk um you know most advisors know what that is if you're an advisor out there and you don't know what it is you really want to learn this because sequence of returns risk is a great way to help you position uh annuities because it protects the distribution phase from going down the way I always like to say it is if you're in stocks and bonds alone and they go down well you're going to be forced to sell things that are down but if you have an annuity and stocks and bonds and the stocks and bonds go down you can use money from the annuity to wait until this money comes back so step two is about presenting those obstacles step three is about verifying and making sure you demonstrate that you're the type of advisor that crosses their T's and dots their eyes um step four of the sales process is uh it's all about showing them where their current situation is And discussing with them how Monte Carlo simulation works because we want to have credibility to the software so we're establishing credibility with the software step five shows them the before and the after so now step four we showed them where they stand step five is when we use the annuity when we use the insurance when we make an adjustment with the Roth IRA conversion how can we take their score from you know is it 60 to 90 65 to 95 50 to 100 for that matter we want to show them in Step number five how we can improve their situation and then step six is is really my favorite you know that's when they take you get the the prospective client to take action and convert to being a prospect to a client and well we are big Believers in at The Institute of financial Wellness nobody likes to be told what to do you know as kids we resist that as adults we resist it even more nobody likes to be told what they should do so what we do is we make such a such an amazing case that it makes it such a no-brainer and then we say to the client what would you like the next steps to be simple as that and and seven or eight times out of ten they start pointing to the bigger circle with the with the bigger percentage of success and when they do that you know you're pretty much kicking the kicking the the the the can down the road or I always say moving the ball downfield you know by the time we're in Step number five we're inside the 20 yard line and by the time we're on step number six we're like you know we should be inside the five yard line and it's like first didn't go that's good that's so good I appreciate you laying those out and this it was it was connect what was the second one what was the second one again uh set the stage set the stage okay got it got it got it so it's like connect connect set verify show improve and convert that's right let's go that's so good man that's cool yeah dude every everything's a system with you yes we're very systematizing and the reason that we are is you know based on my background I to make something transferable and usable by a lot of other people you need a system so systematizing it giving people a track to run on has proven to to have worked very very well for for us over the years Amen to that um gosh well I know you guys are listening you're gonna be like dude I want to be on these webinars and virtual events if this is free in YouTube I can't imagine what's also in the free webinar as well like this is incredible and you're gonna go for a lot longer than you know 20 30 minutes uh so again if you want to spend more time with us click the link in description below so that you can be a part of everything we're doing the next few months as Eric and I are going to start teaching on financial Wellness together man you know I love that um you know Cody what what what I say what I think that all of our viewers and your viewers are going to get out of this is that like so many of them want to take their practice to the next level and I think I think with what we've built with the Institute of financial wellness and the ability to transition into like more retirement distribution planning for some of your your listeners that aren't there yet I know a lot of them are already there but for those that aren't there and they're not doing retirement distribution planning with annuities and insurance in the in the 55 to 75 year old age group I mean what an opportunity to use this six step sales process to transition and take your practice to the next level um we have advisors I mean one of our advisors I love telling us a good story his name is Richard and Richard his first three months in our program he he was an existing advisor he was doing business but he did a million dollars per month for three months in a row that's three million of annuities that's about two hundred thousand dollars of commissions over a three-month period And I this isn't me talking this is him speaking he'll tell you that the ifw retirement roadmap six step sales story is absolutely like eighty percent and ninety percent of the reason why he was able to take his practice to that next level that's incredible oh my gosh dude man well if they want to continue to learn more um about you and The Institute of energy awareness well it's obviously they can click the link in description and join us in some of the webinars we're doing um should they go anywhere else to like learn or research or check anything out before the webinar sure I mean they could go to uh .ifwretirementroadmap.com and you'll see some of our tools and resources and things like that we also have a consumer site at dot the dash ifw.com that's our consumer facing website which is where we educate clients prospective clients so those are two areas we do uh you know you and I are going to be doing a great a few webinars together starting the next one on September 20th and then I think we have the dates for October November already but we also do a webinar every week but um you know check out get registered on our newsletter uh you can do that at the ifw retirement roadmap.com uh website and and look all we want to do is help advisors grow their practice we wake up every single day every single morning and all we're committed to doing is helping take advisors to the next level and what's awesome about the Institute of financial Wellness is that depending on the level that people are at we're really able to take them to that next level so if you're you know two or three years in the business we can help you if you're we have we have advisors that are 30 years in the business and we're helping them grow and take their practice to the next level as well amazing this is so valuable I'm excited for these webinars especially September 20th and October and November Eric thank you for coming on the podcast and sharing your story with us today I really appreciate you buddy oh absolutely um it's been such a delight to be here Cody and I'm looking forward to us continuing our our friendship and our relationship and helping a lot of advisors take their practice to the next level right amen that's right ladies and gentlemen Eric Sussman I appreciate him being here also thank you for listening hanging out on our power player podcast man check out Eric Sussman and The Institute of financial Wellness everything they're doing you can click the link in the description below to jump on a webinar with me and Eric in the very near future either way thanks for hanging out with us have a phenomenal rest of your day and we'll see you on the next episode adios you enjoyed this I got another one it's right there click on it see you in there I'm so excited for today's CA Power Player podcast I'm your host Cody Askins we got a special guest he is back on the channel talking about how to sell life insurance from home here's what up well here's what I love about this person okay I'm telling you this will be one of the best