November 3, 2008

A Week in the Life

This past week was spent largely on creating a Web site, talking to prospective new custodians, placing a large life insurance policy, servicing my clients, and trying to get a stubborn transfer from a contra firm. Where do I begin?

Web Site

My site is nearly complete. We built it ourselves using a program called hostgator. Because we are renting server space from them (about $10 per month) we get to use their software for no charge. Granted, it's an old version, but it will suffice for now. Once we get this launched, we'll use a better software to create a new site.

Custodians

When I first began, I didn't do much in the way of due diligence in selecting a custodian. Now, after about 14 months, I am finding many good choices. I also am finding there are a lot of differences between them. I am leaning hard toward one particular custodian and will let you know who I ultimately select. The point here...I am looking much more thoroughly at this than I did in the beginning.

I'd like to thank those of you who sent me an e-mail or posts with suggestions.

Life Insurance Policy

This week I placed a survivor life policy, owned by an ILIT. This was my first experience with an ILIT-owned life policy.

Servicing my Clients

What's the best way to find out what clients are looking for? Ask them. That's exactly what I plan to do using a focus group. I'll invite six or seven clients to a roundtable discussion and ask, "What could I do better?" and "What services should I add?" We'll see where it leads.

Stubborn Transfer

I've been working on a particular transfer since mid- to late August which is when we filled out the paperwork to start the process. Well, after eight long weeks, we have received all but one account. There was much difficulty with one particular firm that shall remain nameless. Some of the blame also seems to reside with my current custodian, but it shall soon be over as the remaining account should be here soon.

Thanks for reading.

Reprints Discuss this story
This is where the comments go.